Aside from GPS-equipped starter interrupt systems, lenders have another tool to repossess a vehicle, with the added benefit of using the data obtained to acquire better contracts: license plate recognition.
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Category: High Finance
The hammer has fallen on captive automotive lenders, such as GM Financial, Ford Motor Credit and Toyota Financial Services: The Consumer Financial Protection Bureau began officially asserting its authority over them as the feds and the lenders battle over allegations of discrimination in the latter’s loan products.
With the Saab name reclaimed by the mothership, a host of financial problems, and no product beyond a 10-year-old platform, what else is left for National Electric Vehicle Sweden to do? If you said, “Tap out,” then you just might see that hand pounding the mat rather quickly.
In a perverse nexus where connected-vehicle technology, privacy and subprime lending intersect, consumers who fall behind on so much as a single payment, or even stray outside a given teritory, may find their vehicles shutdown by their lender from a digital panopticon.
Though investors are not happy with General Motors as of late, Standard & Poor’s is, boosting the automaker’s investment-grade rating from BBB- to BB+.
The compensation fund established by General Motors and managed by attorney Kenneth Feinberg to pay accident and fatality claims linked to a defective ignition switch in a handful of 2003-2007 models has made its first cash offers to 15 claimants.
It took four years, but the Securities and Exchange Commission has put the final touches on a rule regarding asset-backed securities — including auto loans and leases — and what information is given when a company or investor takes on an ABS.
According to the financial overlords of Goldman Sachs, Tesla would need an $6 billion in capital within the next 11 years should its products become truly disruptive to the automotive industry.
Due to a Gangnam-style real estate deal in the Gangnam district of Seoul, South Korea, workers at Hyundai and Kia have gone on partial strike for the next few days.
New rules being announced by the Consumer Financial Protection Bureau would mean that the captive finance arms would be subject to oversight from the CFPB.
Over a month since the first claims were filed by those affected by a defective General Motors ignition switch originally linked to 31 accidents and 13 deaths, compensation administrator and attorney Kenneth Feinberg has found a total of 19 deaths and 31 eligible claims thus far.
Ally Financial, the lending artist formerly known as GMAC Financial, inches closer to freedom from government ownership as the United States Treasury begins a second trading plan to shed its shares.
Last week, Tesla and Nevada governor Brian Sandoval jointly announced the automaker would be bringing its Gigafactory to Reno. Now, it’s up to both houses of the state’s legislature to pull it all together with a $1.3 billion tax break.
The surge in United States auto sales last month could push the final figures to a height not seen since 2006 when January 2015 rolls around.
Prior to becoming Aston Martin’s new CEO, former Nissan senior exec Andy Palmer proposed to the automaker to buy a stake in AM, only for Nissan to decline.
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