Regulators Subpoena Pretty Much Everybody Over Subprime Loans

Subprime loans, the same type of horrible financial junkfood that led to the bonanza right before the financial meltdown in 2008, went right back into bonanza mode over the past year once people figured out they could use them to sell used cars. And once people realized, firms started cutting back. And now the… » 12/16/14 7:05pm 12/16/14 7:05pm

How Do I Buy A Car When I'm Upside Down On My Current Loan?

I desperately need a new car, the one that I have is becoming an unreliable money pit. The problem is I owe $4000 more than it is worth. I have no cash for a down-payment, but I can handle $350 per month. How do I get into another vehicle and break the cycle of being underwater on a car loan? » 10/03/14 12:49pm 10/03/14 12:49pm

Dealership Finds A Way To Pay Salespeople Even If The Deal Dries Up

Carlos Uruchurtu, general manager of George Chevrolet in LA, had a problem, his hard-working sales staff would do their best to get a customer into a car only to have the deal fall through when it came time to get a loan. Uruchurtu came up with a plan to pay his staff even if a customer didn't drive home with a car. » 8/01/14 4:01pm 8/01/14 4:01pm

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

Do Not Pay, Do Not Pass Go, Do Not Collect $200

USA Today, America's most colorful newspaper, is running a story about devices that are being used to ensure car payments are made on time or it will kill the car. It's not the most high tech device in the world, but I'm sure it works and gets the job done. A box installed in vehicles purchased with subprime loans… » 3/31/08 3:30pm 3/31/08 3:30pm