This month’s new-vehicle sales (including fleet sales) are expected to be 988,100 units, a 20.9 percent increase from April 2009 and a 7.1 percent decrease from March 2010, according to Edmunds.com.
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The average finance rate on a retail car loan sank to 4.4 percent in March, the lowest since 2002, Edmunds.com reported today. The rate was 5.8 percent at the same point last year.
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Auto Financial Group, an online provider of residual-based financing products for credit unions, struck an agreement with Frankenmuth Credit Union, which will allow FCU to offer AFG’s DrivingSense as both a direct and an indirect lending option.
Over the years, Toyota has settled a lot of product liability lawsuits, in part so it wouldn’t have to produce proprietary internal documents to the plaintiffs.
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Toyota Motor Corp. is extending no-interest loans and discount leases until May 3 on some models and expanding an offer of two years of free maintenance.
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For now, the flurry of recalls has stopped. But the costs confronting Toyota Motor Corp. as a result of its quality crisis will keep climbing, analysts say. By Toyota’s own count, the string of worldwide recalls will cost the company $2 billion.
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Auto dealer Denny Hecker lived large. He gambled in Las Vegas, married and divorced four women and flew a private jet to vacation homes in Mexico, Aspen and Arizona. In true Minnesota fashion, he had a lake home, with slips for 10 boats.
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Toyota Motor Corp. may be fined a second time for failing to alert federal regulators that gas pedals might stick and cause unintended acceleration. The National Highway Traffic Safety Administration announced a record $16.
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Consumer loan delinquencies fell in eight of 11 loan categories in the fourth quarter of 2009, marking the second quarter in a row of broad-based improvement, according to the American Bankers Association’s Consumer Credit Delinquency Bulletin.
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Chase and Mazda North American Operations have signed a multi-year private-label agreement under which Chase will be the exclusive U.S. auto finance provider for Mazda, operating under the brand name Mazda Capital Services.
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