Car Loans

India’s largest bank, State Bank of India, has capped the interest rate on car loans at 10% for the first year. This is expected to give car sales a major fillip, especially among government employees, a majority of who hold deposits with the bank.

More: continued here

There’s more than one reason that U.S. auto sales fell 18.2 percent in 2008. But Norb Kaczmarek, CEO of Erie Federal Credit Union, said he’s convinced a lack of money for car loans is a big part of the problem.

More: continued here

Meredith A. Whitney, the prominent banking analyst who is opening her own equity research firm, said Thursday that she was pessimist about the banking industry’s prospects this year and that she did not expect the top banks to continue paying their current dividends.

More: continued here

The eagerly anticipated foreclosure prevention program unveiled Wednesday by President Obama targets 9 million borrowers for help - are you one of them?

More: continued here

The finance unit of German car giant Volkswagen said it had received up to 2 billion euros in state guarantees for refinancing car loans.

More: continued here

FRANKFURT, Feb 18 (Reuters) - Volkswagen has taken 2 billion euros ($2.5 billion) of guarantees from the German government’s bank rescue fund, Europe’s biggest car maker said on Wednesday. The group said that the guarantees would refinance car loans and secure credit lines to dealers and customers.

More: continued here

Car industry analysts and economists say the broad economic stimulus bill signed this week by President Obama offers little to revive the stalled new-car market in the United States, potentially complicating federal plans to rescue Detroit automakers.

More: continued here

MUMBAI: Tata Motors has entered into an understanding with Central Bank of India for financing its range of passenger vehicles. Central Bank of India offers car loans up to 85 per cent of on-road price for tenure ranging up to seven years at a …

More: continued here

The finance unit of German car giant Volkswagen said Wednesday it had received up to two billion euros (2.5 billion dollars) in state guarantees for refinancing car loans.

More: continued here

Unless demand for cars can be revived, it may not matter how much fat GM and Chrysler cut.

More: continued here