E-NEWSLETTER

In a recent blog post on the Consumer Financial Protection Bureau (CFPB) website, the Assistant Director for the Office of Fair Lending and Equal Opportunity said the agency will be paying more attention to non-mortgage loans, and specifically called out auto loans.

Tags: BHPH, BHPH legislation, CFPB

The market research firm estimates that BHPH dealers achieved $16.5 million in gross sales last year and sold about 2.5 million vehicles.

Tags: BHPH, BHPH dealers, CNW Research

BHPH portfolio buyer names Robert Chickowski senior vice president and manager of portfolio acquisitions. He will supervise the company’s due diligence and portfolio acquisition efforts.

Tags: BHPH, BHPH dealers, loan portfolios, SFG Finance

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

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

Advanced Lending & Portfolio Services, a bulk purchaser of buy-here, pay-here contracts, announced strong quarterly results, claiming a total portfolio size of $11.5 million at the end of 3Q 2011.

Tags: Advanced Lending & Portfolio Services, ALPS, BHPH, BHPH dealers, buy-here, pay-here, Westlake Financial Services

iMETRIK Automotive Solutions Inc., a developer of embedded wireless solutions, has launched “Pay Share,” a new program designed to help buy-here, pay-here (BHPH) dealers with purchasing and title conversion.

Tags: BHPH, buy-here, pay-here , iMETRIK, starter interrupt devices

Finance Express, a provider of dealer management system and Web technology for independent dealers, has partnered with Denver-based Access Capital Investment Group (ACIG) to offer dealers a built-in opportunity to liquidate their buy-here, pay-here portfolios.

Tags: BHPH, dealer financing, independent dealerships, special finance

Guidepoint Systems today launched “Recover It,” a new GPS-based payment assurance solution for buy-here, pay-here dealers. It provides payment reminders, starter-interrupt and GPS tracking.

Tags: BHPH, buy-here, pay-here , vehicle recovery

The National Alliance of Buy Here, Pay Here Dealers (NABD) released a preliminary agenda for its upcoming fourth annual Underwriting and Collections Conference, which will be held in Dallas from Nov. 7-9.

Tags: BHPH, buy-here, pay-here , NABD, underwriting and collections

A 10-year licensing agreement that allowed payday lenders operating in Arizona to originate loans above a 36 percent usury cap will be allowed to expire tomorrow, causing many payday lenders in that state to switch to offering automotive title loans — or close their doors.

Tags: BHPH, buy-here, pay-here

ZimpleMoney launches ZimpleAuto, a solution that allows dealers to make and manage loans directly to low- and middle-income consumers, bypassing traditional lenders, banks, and credit unions.

Tags: BHPH, buy-here, pay-here , dealer financing

The National Alliance of Buy Here, Pay Here Dealers (NABD) will hold its “Fourth Annual Buy-Here, Pay-Here Underwriting & Collections Conference” in Dallas, Texas, on Nov. 7-9, 2010.

Tags: BHPH, buy-here, pay-here

CalAmp Corp., a provider of wireless products, services and solutions, has unveiled a new tamper-resistant vehicle tracking product, called Aercept PLUS, for the automotive finance market.

Tags: BHPH, buy-here, pay-here , vehicle recovery

Nowcom, a provider of dealer management solutions, has released a new Web-based dealer management system, DealerCenter 7, a full-featured DMS offering increased accessibility and security.

Tags: BHPH, buy-here, pay-here , DMS, special finance

Nationwide Acceptance Corporation opened a new division to provide $1 million to $5 million lines of credit to buy-here, pay-here dealers in markets the company serves.

Tags: BHPH, buy-here, pay-here , credit lines, National Acceptance Corporation, subprime

The education committee for The Leedom Group’s 15th Annual Buy-Here, Pay-Here National Convention unveiled its lineup of speakers, workshops and panels for the three-day event, which will be held Oct. 12-14 at Caesars Palace in Las Vegas.

Tags: BHPH