GMAC
Ally Financial to Pay $98M Over Lending Bias
African-Americans that bought a new vehicle financed by Ally Financial Inc might have been paying higher interest rates than white customers with comparable credit scores.
Sweet MINIron Adorned With 3,000 Macarons
How sweet is this ride? Australians were treated to a Mini Copper covered with 3,000 macarons, as it drove around Melbourne, causing sugar cravings of epic proportions. Covered by different colors and flavors of macarons made by pastry chef Pierrick Boyer of Le Petit Gateau, the MINIron was the creation of Melbourne Macaron. The group,…
37 Million Licensed American Drivers Would Fail Drivers Test If Tested Again
If American licensed drivers were required to retake the driver’s test today, one in five would not pass, according to results of the 2011 GMAC Insurance National Driver’s Test. 18 percent of the country’s total licensed motorists lack knowledge of some basic rules of the road. Motorists were asked what to do when approaching a…
GM Buys AmeriCredit For $3.5 Billion, Wants To Give Subprime Loans Another Shot (It’s Deja Vu All Over Again)
General Motors is buying AmeriCorp, a company that offers subprime loans (loans to those with poor credit), for $3.5 billion dollars. GM says the move is necessary to expand financing to those with subprime credit scores. 40 percent of Americans hold these subprime ratings, which are defined as a score below 620 on a 300…
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Chrysler Officially Bankrupt: Merger With Fiat A Done Deal
At a mid-day press conference President Barak Obama made the official announcement that Chrysler will in fact file for Chapter 11 bankruptcy protection. Included in the announcement was the news that Chrysler has also reached an agreement with Fiat. “I can report that the necessary steps have been taken to give one of America’s most…
Auto Sales Slump Continues With 36.5 Percent Drop for March
Hyundai performed well above the industry average for March, which may be one of the main reasons by both Ford and GM have copied the Korean automaker’s job-loss protection incentive. (Photo Credit: Liberty Cars] Well, it ain’t getting any better. The recession continues to bully automakers as creditors continue to bang on their front doors…
