Comments on: TTAC’s Deep Throat: ResCap Crisis Threatens GMAC Car Loans http://www.thetruthaboutcars.com/ttacs-deep-throat-rescap-crisis-threatens-gmac-car-loans/ The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. Sun, 22 Nov 2009 23:24:27 -0500 http://wordpress.org/?v=2.8.6 hourly 1 By: AGR http://www.thetruthaboutcars.com/ttacs-deep-throat-rescap-crisis-threatens-gmac-car-loans/comment-page-1/#comment-375952 AGR Sat, 26 Apr 2008 02:45:32 +0000 http://www.thetruthaboutcars.com/ttacs-deep-throat-rescap-crisis-threatens-gmac-car-loans/#comment-375952 GMAC like all other financial services companies is in the money markets on a daily and ongoing basis raising money to finance wholesale floor plans for dealers, retail finance for customers, leases for customers, whatever other loan facilities they offer. In the US the Feds have been lowering the prime rate, even if GMAC is borrowing at a higher cost its probably at the same rate than the loan its replacing. Is RESCAP impacting GMAC probably...who in the credit business in the US is not being impacted in one fashion or another? Does anyone in the US know where the bottom of the entire credit situation is located or when its going to hit bottom or did it hit bottom. BMW Financial just took a 372 Million write down for its inability to recoup residual values on leases. GMAC like all other financial services companies is in the money markets on a daily and ongoing basis raising money to finance wholesale floor plans for dealers, retail finance for customers, leases for customers, whatever other loan facilities they offer.

In the US the Feds have been lowering the prime rate, even if GMAC is borrowing at a higher cost its probably at the same rate than the loan its replacing.

Is RESCAP impacting GMAC probably…who in the credit business in the US is not being impacted in one fashion or another? Does anyone in the US know where the bottom of the entire credit situation is located or when its going to hit bottom or did it hit bottom.

BMW Financial just took a 372 Million write down for its inability to recoup residual values on leases.

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