GMAC Now Officially Requires 700-Plus FICO Score For New Car Loan

The Financiapocalypse » 10/13/08 6:20pm 10/13/08 6:20pm continues. We just received a copy of an e-mail that went out at GMAC, the lending arm jointly owned by GM and Cerberus, from Barbara Stokel, GMAC's EVP of North American Operations. Here's the most salient detail: you'll now need a minimum 700 to get a car loan at dealer invoice or below from…

Toyota To See "Large" Hit From Used Car Values

The Wall Street Journal reports this morning the super number one awesome best automaker from the land of the rising sun said it will set aside major reserves for its first quarter to cover losses from vehicle leases in the U.S. And with that, Toyota now follows Chrysler, GM and Ford into the land of plummeting used… » 8/06/08 9:00am 8/06/08 9:00am

Chrysler Financial To No Longer Offer Auto Leases... Wait, What?

Yeah, we just heard Chrysler Financial will no longer be offering auto leases. We're just as stunned as everyone else. Hit the jump for the full report and our analysis including what this means for Cerberus-owned GMAC. » 7/25/08 4:00pm 7/25/08 4:00pm

We'd heard Chrysler Financial was having a tough time as of late what with all of those default…