2003 Volkswagen Passat Gls Wagon 4-door 1.8l Turbocharged on 2040-cars
Dunkirk, Maryland, United States
Body Type:Wagon
Vehicle Title:Clear
Engine:1.8L 1781CC l4 GAS DOHC Turbocharged
Fuel Type:GAS
For Sale By:Dealer
Model: Passat
Trim: GLS Wagon 4-Door
Options: Sunroof, Cassette Player, Leather Seats, CD Player
Drive Type: FWD
Safety Features: Anti-Lock Brakes, Driver Airbag, Passenger Airbag
Mileage: 176,200
Power Options: Air Conditioning, Cruise Control, Power Locks, Power Windows, Power Seats
Exterior Color: Green
Interior Color: Gray
Number of Cylinders: 4
Warranty: Vehicle does NOT have an existing warranty
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Auto blog
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Fri, 28 Dec 2012Recently, the finance arm of PSA/Peugeot-Citroën was in such debt trouble that it was pricing itself out of the car loan market. The rates it was paying to service its debt, which was rated one step above junk, were so high that it was forced to charge car-buying customers higher rates than they could find elsewhere. This was adding to Peugeot's already impressive woes by sending revenue out the door to competitors.
Two months ago a deal was worked out with the French government whereby the state would provide 7 billion euro ($9 billion USD) in bonds to guarantee the finance arm's loans. The French government could nominate someone to join the Peugeot board, Peugeot would guarantee more French jobs, and on top of that deal, other banks would provide non-guaranteed loans. The government would take no equity stake in the car company.
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