E-NEWSLETTER

F&I sits down with the three executives who have taken the reigns of the combined dealer services groups of Wachovia and Wells Fargo. Hear what they have to say about the current market conditions and Wachovia officially taking on the stagecoach name.

Tags: FLOORPLAN FINANCING, Small Business Administration, subprime, Wachovia Dealer Services, WELLS FARGO

Lending to the nation’s 17,000 franchised dealers to purchase new- and used-vehicle inventory continues to lag, making it a top issue for the National Automobile Dealers Association (NADA). The dealer association said that a hearing on Feb. 25 by the Congressional Oversight Panel on the Troubled Asset Relief Program (TARP) highlights the ongoing need to provide more liquidity for auto business lending.

Tags: Federal Reserve, FLOORPLAN FINANCING, NADA, Small Business Administration, TALF, TARP

Sonic Automotive Inc. announced today that it has entered into new syndicated credit facilities with various financial institutions which mature in August 2012.

Tags: FLOORPLAN FINANCING, new-vehicle inventory, used-vehicle inventory

The American Financial Services Association presented a letter today to the U.S. Treasury Department and the Obama administration’s Auto Task Force that provided recommendations for increasing participation in TALF.

Tags: AFSA, FLOORPLAN FINANCING, TALF