Archive: october 14, 2008

GMAC limits loans to buyers with 700+ FICO rating

Filed under: Car Buying, GM
If you're in the market for a new car, you'd better get your credit score in order first. Auto lending units are looking for top tier customers right now, and GM's captive credit arm is going so far as to mandate a FICO rating of 700 or higher. GMAC is requiring this measure in response to the instability in the global capital and credit markets. The move is likely to cost GM some sales, but according to credit information services company Experian, 74.3% of all auto loans went to consumers with a credit score of over 700. That number is up from the 71% average of 2007...

View full article at "Autoblog"

Tags: CreditScores, FICO score, FicoScore, FicoScore700, GM, credit scores, fico score 700, gmac

Oct 16 GM launches new campaign to ease credit worries

Oct 17 GM to dealers: There's a bonus in it for you if you don't lend them our money

Oct 6 GMAC dramatically cut back on leases in September

Feb 22 GMAC restructuring will shed 930 jobs from financing branch

Aug 25 Toyota tops GMAC as the biggest U.S. auto lender

Oct 13 GM/Cerberus talks over full ownership of GMAC

Oct 2 Automakers still hungry, may get bailout for bad car loans

Jun 2 REPORT: Cerberus sells more than half of Chrysler and GMAC, Chrysler denies

Oct 24 BMW offering ALL its models with 0.9% APR

Sep 30 VIDEO: Wagoner attempts to explain gov't loans to automakers

Oct 27 Toyota may renew "Saved by Zero" no-interest loans

Sep 8 Detroit automakers to lobby Congress for $50 billion in loans

Mar 15 Nissan Navara safty rating improves

Jul 29 GM Canada gone from leasing business

Oct 1 Detroit Three pass credit check, $25 billion in gov't loans approved

Oct 5 Euro carmakers want billions in loans, too

Sep 8 Ralph Nader opposes $50 billion loan from feds

Aug 18 Diesel rush begins: VW Jetta TDI now being delivered

Oct 14 Record rate of repos in 2008

Sep 25 House passes $25 billion loan for domestic automakers

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Filed under: Plants/Manufacturing, GM
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