As part of a push to defibrillate flatlining new car sales in the USA, General Motors’ financial arm GMAC has slashed fees, cut or delayed repayments and - somewhat worryingly - recommenced sub-prime lending.

Sub-prime lending, as most of you are probably aware, is the practice of approving loans for customers who would not ordinarily be [...]

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The Federal Treasurer Wayne Swan has released an Information Guide for Car Dealers on the Special Purpose Vehicle (SPV) funding facility, designed to fill the $2 billion floorplan financing ‘hole’ left by GE and GMAC’s exit from the dealer financing market.

He also appealed to GE and GMAC to “do the right thing” and continue to [...]

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