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Auto industry financing in the bailout era

Dec 30, 2010 Brian Bradley

The auto industry bailouts in recent years have saved the long-suffering industry at a time when many car manufacturers were on the brink of collapse. And while employees and executives were relieved to get the added funding, there was another sector that benefited - auto industry financing. According to experts, auto dealers have been offering new loan incentives for those interested in purchasing new vehicles. Many have and will continue to benefit from low interest loans, even if they do not have the best-looking credit history. According to, dealerships are trying harder than ever to attract all sorts of customers. "Some incentives include low interest rate auto loans, such as 6.23 percent for a 60-month new car loan and 7.22 percent on a 36-month used car loan," reports. "As an added bonus, these are pretty much one-size-fits-all auto loans, so even buyers without perfect credit are able to qualify." The auto industry has seen ups and owns over the years, but perhaps no company has been through as much turmoil as Chrysler. Cerberus, the most recent owner of Chrysler Financial, recently sold the company to Toronto-Dominion Bank for $6.3 billion.