1. The pace of growth in new auto loans also lost momentum from the previous month. 2. AmeriCredit, based in Ft. Worth, Texas, provides consumer auto loans and offers specialty financing products. 3. Analysts said the latest easing should lower rates on adjustable-rate loans, such as those levied for credit cards, auto loans and some home loans. 4. As the economy slows and the risk of inflation wanes, investors may accept lower yields -- and rates on everything from auto loans to home mortgages may fall. 5. Assessing the risk of something even as plain vanilla as financing of auto loans is problematic for investors. 6. At the same time, the number of bad loans has increased while profit margins have narrowed as banks have become more aggressive in auto loans. 7. BankBoston Corp. said it will stop selling auto loans to consumers through dealers, choosing instead to boost direct loan sales over the phone or through branches. 8. Banks and others use the rate to set other rates like those for credit cards, auto loans and mortgages. 9. Automakers use such reserves as backup for defaults on the auto loans they extend to their customers. 10. Borrowing by U.S. consumers accelerated at the fastest pace in three months in July, led by credit card charges and auto loans, Federal Reserve figures showed today. |