Treasury Makes Subprime Auto Loans

One day after the treasury (taxpayers) injected $6 billion into the failing auto industry GM, GMAC ease lending rules to entice car buyers ... of 620 or lower to be "subprime." The median U.S. credit score is 723, according to Fair Isaac ... . Many of the vehicles also carry cash discounts of $500 to $4,250.GMAC, meanwhile, will extend loans [more...]

Date: 2008-12-30 19:56:00

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