April 17, 2012
NCM Associates is once again sponsoring the NABD Dealer Academy and Conference for Buy Here, Pay Here (BHPH). The firm also will participate in education tracks offered at the two events.
Tags: BHPH Conference, BHPH dealers, NABD, NCM Associates
March 13, 2012
DealerTrack will host several DealerTrack University webinars on best practices in the areas of mobile, leasing and compliance this month.
Tags: Compliance, DEALERTRACK, leasing, mobile applications, mobile solution, training, vehicle leasing
March 8, 2012
The American Bankruptcy Institute (ABI) announced that total bankruptcy filings in the United States increased 19 percent in February vs. January.
Tags: ABI, American Bankruptcy Institute, bankruptcies, consumer bankruptcies
The NADA Used Car Guide predicted yesterday that gas prices will peak at $4 per gallon in May, but said it expects the impact on used-car prices to be mild by historical standards.
Tags: Gas Prices, NADA Used Car Guide, used vehicles, used-vehicle values
March 6, 2012
Safe-Guard Products International LLC announced that it has joined the DealerTrack Aftermarket Network.
Tags: aftermarket products, DEALERTRACK, F&I products, Safe-Guard
The National Automotive Finance (NAF) Association announced that Richard P. Hackett, an assistant director at the Consumer Financial Protection Bureau, will be the keynote speaker at the NAF’s 16th annual conference.
Tags: CFPB, Consumer Financial Protection Bureau, National Automotive Finance Association
Chrysler Group announced the launch of Diversified Certified, a program that enables Chrysler Group dealers to certify and sell competitive-make, pre-owned vehicles backed with a Chrysler Group warranty.
Tags: certified pre-owned vehicles, Chrysler, pre-owned customers, warranty
A report by Change Sciences Group revealed that some banks and other financial services firms are using social media to change their image.
Tags: Banks, finance, lender, Social Media
Exeter Finance Corp. announced last week the completion of its first rated term securitization, issuing $200 million in notes backed by subprime automobile installment receivables.
Tags: Exeter Finance Corp., securitizations
March 2, 2012
Manheim announced it has completed its planned purchase of Dealer Services Corporation, a used-vehicle floorplan company for independent dealers that’s based in Carmel, Ind.
Tags: acquisition, Dealer Services Corporation, FLOORPLAN FINANCING, Manheim, used vehicles, used-vehicle financing
General Motors Co. and Wells Fargo & Co. announced a long-term partnership to offer financing to Chevrolet, Buick, GMC and Cadillac dealers and retail customers in GM’s West marketing region.
Tags: Buick, Cadillac, Chevrolet, dealer financing, finance, FLOORPLAN FINANCING, General Motors, GMC, new-vehicle financing, retail financing, Wells Fargo, wholesale financing
February 23, 2012
Experian Automotive announced that the automotive loan market showed continued improvement, with interest rates for new- and used-vehicle loans at their lowest levels since 2008.
Tags: Auto Loans, Credit Scores, deep subprime, Experian, interest rates, nonprime, subprime
February 21, 2012
LEAP Financial and 722 Redemption Funding announced a partnership to offer redemption and replacement financing for customers filing for Chapter 7 bankruptcy.
Tags: 722 Redemption Funding, bankruptcies, finance, LEAP Financial, special finance
February 14, 2012
AUL Corp. announced an expansion of its service-contract relationship with Ace Motor Acceptance Company (AMAC), a subprime finance source in Charlotte, N.C.
Tags: AUL Corp., BHPH, buy-here, pay-here, service contracts
February 8, 2012
Volvo Cars of North America announced the establishment of Volvo Car Financial Services, which will begin providing financial services products to Volvo retailers in all 50 states later this year.
Tags: captive finance, Volvo
February 7, 2012
Experian Automotive announced that Ally Financial was the top consumer auto sales financier in the U.S. marketplace.
Tags: Ally Financial, Experian, finance, lender
January 31, 2012
A new partnership between SFG Finance and Subprime Analytics will provide dealers with access to the SFG Finance National Subprime Loan portfolio program. Sellers of portfolios also will gain access to key analytics.
Tags: BHPH, BHPH dealers, buy-here, dealer loyalty, pay-here, SGF Finance, Subprime Analytics
December 6, 2011
U.S. consumer bankruptcy filings totaled 100,980 in November, a 12 percent decrease from the 114,587 total consumer filings recorded in November 2010, according to the American Bankruptcy Institute.
Tags: ABI, American Bankruptcy Institute, bankruptcies, consumer bankruptcies, consumer financial habits
December 1, 2011
Below-prime auto loan originations continued to pick up steam in the third quarter, with the biggest gains seen in the two highest risk segments, Experian Automotive reported.
Tags: Auto Loans, deep subprime, Experian, nonprime, subprime
November 3, 2011
Auto finance companies have increased lending by more than 47 percent over the past two years, according to the latest Equifax National Credit Trends Report.
Tags: Auto Loans, consumer credit, credit, delinquencies, Equifax, finance, indirect lending, special finance, subprime
October 18, 2011
Southside Financial Group announced the launch of a nationwide program to purchase existing nearprime and subprime auto loan portfolios ranging from $500,000 to $40 million.
Tags: loan portfolios, near prime financing, special finance, subprime
October 14, 2011
GM Financial will become a player in the commercial lending segment by the end of the first quarter 2012, according to statements made yesterday by the company’s president and CEO, Dan Berce.
Tags: captive finance, commercial financing, FLOORPLAN FINANCING, GM Financial, subprime
October 13, 2011
After hitting a monthly low in March, CUDL credit unions have increased their market share by nearly 2 percentage points, and have maintain a share of more than 17 percent since May, CUDL revealed in late September.
Tags: Auto Loans, credit, credit unions, CUDL, indirect lending, market share
October 11, 2011
October kicked off to a strong start after the new-car industry broke out of its summer funk in the second half of September, according to the Bandon, Ore.-based CNW Research.
Tags: CNW, consumer confidence, Floor Traffic, incentives, SAAR, trade-in value
Finance Express announced that it has entered into a partnership with subprime automotive finance company Preferred Automobile Credit Co.
Tags: Finance Express, Preferred Automobile Credit Co., subprime
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