Car loan news and advice

After narrowly slipping his US$787 billion ($1.236 trillion) economic stimulus programme past Capitol Hill, Barack Obama is now turning his attention to the country’s ailing auto industry.

Bendigo Bank has alerted authorities in Victoria to an elaborate scam involving $12 million worth of supposedly fake car loans.

Two giants of the US automobile industry are being choked by the lack of car loans available for consumers, a representative for GM has claimed.

More motor misery in the US

One day after the UK unveiled a new finance package to get its auto industry back on its feet, research has shown that more Poms are being denied car loans.

The UK has become the latest country to introduce new measures to try and prop up its auto industry, following in the footsteps of the US and Australia.

There was a glimmer of life in the Australian auto industry at the end of last year, with car sales up 1.8 per cent on the previous month in December.

The money saved on new low interest home loans should be put towards cancelling out "dumb debt" such as that owed on credit cards and car loans, one financial planner has recommended.

The Detroit car show has been a decidedly eco-conscious affair this year, attendees have noted, with all of the big three US car makers showing off their most fuel efficient, sustainable vehicles.

Many Australians are turning to payday loans in order to make their finances stretch the month, one Queensland debt collector has claimed.

The Australian auto industry has recorded its worse annual sales results in more than 30 years as business confidence has plummeted across the country.

Consumers who are feeling a little hard up on the cash front at the minute may do well to have a good think about ditching their motor, the New York Times reports.

The possibility of the US automotive industry collapsing has re-emerged after plans to bail out the ailing sector were scuppered by the senate.

The Reserve Bank of Australia (RBA) could slash rates again at an emergency meeting in January, governor Glenn Stevens has indicated.

Getting a car loan could prove tricky for many Aussies in the current economic climate, the Sydney Morning Herald has warned.

Troubled auto giants GM and Chrysler may take a pre-arranged bankruptcy under the conditions of a government bailout loan, reports indicate.

Swan swoops to take car dealers under state’s wing

Although the Reserve Bank has already brought the base rate to its lowest level since late 2001, experts are forecasting that by Easter next year, Bank governor Glenn Stevens and friends could take the rate to a level not seen since 1960.

Before riffling through brochures and picking out colour schemes for a dream motor, it may be worth giving a thought to how the vehicle will be paid for.

With job losses rising and the economy shrinking, debt collectors are one of the few professions to be doing well out of the crisis.

The Reserve Bank is likely to take one last hack at interest rates before the new year gets underway, experts have predicted.

New-car buyers have the opportunity of a lifetime to bag themselves a bargain on the forecourt, experts have claimed.

With GMAC departing from the car loans market in both the US and Australia, one commentator has urged the government to step in.

As the turgid economic tide of restricted credit has washed over our antipodean neighbours, there has been a sharp rise in the number of fraudulent car loan applications, it has been revealed.

The Australian car industry could find itself in dire straits next year after a number of big car loan financiers exit the market.

Premier Kevin Rudd has called on the nation’s banks to wade into the car loans market in order to plug the gap left by the departure of GMAC and GE Finance.

While GE Money made an exit from the car loans market last week, St George and Esanda have said they plan to extend their motor finance services.

Control of Wizard Home Loans could pass over to National Australia Bank, it has been revealed.

As lenders around the world tighten their purse strings, consumers need to look to the past for clues as to how to get credit.

While green-minded motorists may be keen on getting behind the wheel of a hydrogen vehicle, keeping the tank full can be as difficult as getting a car loan, it’s been claimed.