Auto Loan News

Wakenight auto sales steers for loan to drive more business (SaukValley.com)
POLO - Wakenight Auto Sales may get a face-lift if the City Council approves a $32,000 loan from its tax increment financing fund. Owner Roger Wakenight made the request at Monday's council meeting. He wants to replace windows, add a new office and remodel the shop area.
 
NC car dealer to plead guilty to false loan papers (Rocky Mount Telegram)
CHARLOTTE, N.C. — A federal prosecutor said a Charlotte car dealer has agreed to plead guilty to aiding in the filing of auto loan applications that falsely stated incomes and employment.
 
Two auto-loan brokers admit Orchard Park scam (The Buffalo News)
The owners of a defunct Orchard Park auto-loan brokerage pleaded guilty Monday to bilking 120 customers out of more than $240,000 on auto warranty and bank loan deals before their company was shut down by State Attorney General Andrew M. Cuomo more than a year ago.
 
UAW Barred From Striking At GM For Federal Loan: WSJ (Fox News)
UAW Barred From Striking At GM For Federal Loan: WSJ
 
Detroit Auto Show: The party's over (CNN Money)
Reporters hoping for a free appletini mixed by Chrysler chief executive Robert Nardelli at the Detroit Auto Show are in for a disappointment this year.
 
Auto execs expect more bankruptcies (CNN Money)
More than three out of four auto executives expect more bankruptcies in their industry, according to an annual survey by audit and accounting firm KPMG LLP.
 
Charlotte auto dealer pleads guilty to false loan charges (The State)
CHARLOTTE -- Louis F. Harrelson, one of Charlotte’s best known auto dealers, has agreed to plead guilty to aiding in the filing of false auto loan applications with financial institutions. The 79-year-old Harrelson won’t likely spend any time behind bars. The plea deal with federal prosecutors calls for him to be placed on probation for two years. He’ll also have to pay a $50,000 fine and $1.19 ...
 
Loan Delinquencies Hit Record High Last Year (Washington Post)
Delinquencies on auto loans and home equity lines of credit reached their highest levels on record during the third quarter of 2008, the American Bankers Association reported yesterday.
 
US: UAW willing to work with automakers on loan rules (just-auto)
This article is locked. You need to be a Full Member of just-auto to view this article. Existing users, please login at the top of the page. Summary: The United Auto Workers (UAW) General Motors department has begun planning bargaining strategy and president Ron Gettelfinger has said the union would seek factory floor-level approval for any changes made in return for the federal bailout loan.
 
Worldwide auto sales to worsen in '09, report says (CTV Toronto)
The global auto industry will see a greater overall decline in sales in 2009 than it did in 2008, says a new report from Scotia Economics.