Auto loans are the most common secured debt in the U.S. If a debtor defaults on an auto loan, the creditor can typically repossess the asset – the car – securing the loan. But if the asset is in a state of disrepair or otherwise diminished in value, the creditor cannot recoup the total balance owed by selling the car. So a deficiency balance is due from the debtor, with the balance becoming a receivable on the creditor’s books.
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Scotiabank Buys $272.5 million in Car Loans from Ford Credit Mexico
12 September 2006
Wachovia, Westcorp Auto Finance Operations Begin to Coalesce
12 September 2006
GMAC to Restate Financial Results, Casts Doubt on Sale
12 September 2006
Ford Offering Interest-free Financing on Hybrids in Two U.S. Markets
12 September 2006
New Investor Group Enters $12.5 billion Bid for GMAC
12 September 2006
Cerberus Group takes Lead in GMAC Talks
12 September 2006
Wachovia-Westcorp Deal gets Final Approval
12 September 2006
Hyundai to Provide Credit as It Diversifies
12 September 2006
Automotive Finance Corporation Acquires 15-Percent Interest in Finance Express
12 September 2006
AmeriCredit Signs Agreement with Finance Express Auto Finance Program
12 September 2006
Cerberus, Citigroup among Bidders for GMAC
12 September 2006
AmeriCredit 2Q Earnings Climb 34 Percent
12 September 2006
Ford Motor Credit Earns $2.5 Billion In 2005
12 September 2006
State Proposal Aims to Change Repossession Process
12 September 2006
Strategic Partnership to Deliver Enhanced Auto Loan Underwriting Services to Credit Unions and Dealers
12 September 2006
GM 'Moving Pretty Fast' to Sell GMAC Stake, Finance Chief Says
12 September 2006
Citigroup CEO Doesn't See Bank Buying GMAC
12 September 2006
Deadline Looms for Initial Bids in GMAC Stake Sale
12 September 2006
HSBC Not Interested in GMAC Stake
12 September 2006
GMAC to Sell $20 billion in Auto Loans
12 September 2006
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