Automakers, Lenders Vie to Close the Loans

RALEIGH, NC – Banks, credit unions and other lenders are holding their own in a battle for customers with automakers that often offer lower-interest financing – now as low as zero percent – through their financial subsidiaries.

Ford Motor Credit and General Motors Acceptance Corp., subsidiaries of the nation's top two automakers, issued auto loans to more than 18,400 new and used car buyers in the Triangle in 2002. That's right at 10 percent of the 118,311 new and used car loans issued in the Triangle last year.

Ford and GMAC also were the top originators of new car loans, making a combined 13,534 loans out of a total of 57,808.

For this complete story, please visit Automakers, Lenders Vie to Close the Loans.

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