Car dealers able to move cars easier now::
Fed OKs New Car Dealer Financing Under TALF -ReportLast update: 12/23/2008 8:10:08 AMDOW JONES NEWSWIRES
The Federal Reserve has determined that new-car dealer floorplan loans are to be included in the government's Term Asset-Backed Securities Loan Facility, or TALF, Automotive News reported Monday on its Web site. It had been unclear whether lenders could use TALF funds to finance dealers' new car inventories. The decision will provide greater liquidity for dealers, said Andy Koblenz, vice president of legal and regulatory affairs for the National Automobile Dealers Association. The loans will be available through 2009. Full story at www.autonews.com/article/20081222/ANA05/812220271/1142 -Dow Jones Newswires; 201 938-5500 (END) Dow Jones NewswiresDecember 23, 2008 08:10 ET (13:10 GMT)
