The Industry's Leading Source For F&I, Sales And Technology


2076  -  2100  of  2108

April 7, 2009 - Industry News

Ford Reduces Debt by $9.9 Billion; Liquidity Remains a Concern

Ford Motor Company announced Monday the completion of debt restructuring initiatives that will reduce its debt by $9.9 billion from $25.8 billion. The move was viewed as a positive step, although ratings agencies believe Ford’s fundamental business risks remain unchanged.

Tags: Ford, Ford Credit

April 7, 2009 - Industry News

Dow Louisiana Federal Credit Union Joins Wolters Kluwer AppOne Platform

AppOne, a part of Wolters Kluwer Financial Services, announced Monday that Dow Louisiana Federal Credit Union (DLFCU) is the first lender to join AppOne’s credit union platform.

Tags: credit unions, Wolters Kluwer Financial Services

April 7, 2009 - Industry News

Triad Financial Names Stephen Smith to Oversee Third-Party Servicing Efforts

Triad Financial appointed Stephen Smith to oversee the company’s third-party servicing efforts. In his role as director of portfolio servicing, Smith will manage Triad’s business development initiatives, client relations and the daily operations of servicing clients’ consumer vehicle loans.

Tags: Triad Financial

April 6, 2009 - Industry News

Kia Motors America Secures $305 Million in Financing

Kia Motors America (KMA) announced last Thursday that it successfully closed a $305 million revolving credit line with three U.S. lenders.

April 1, 2009 - Industry News

GMAC Eases Dealer Finance Charges and Expands Retail Credit to Promote Auto Sales

GMAC Financial Services will temporarily ease wholesale finance charges for dealers and earmark $5 billion for consumer auto loans over the next 60 days, in an attempt to reduce the stress on U.S. auto dealers and expand the credit available to retail customers.

Tags: GMAC Financial Services

March 31, 2009 - Industry News

100 Bank Failures Expected By the End of 2009, Financial Credit Rating Firm Predicts

While the fourth quarter 2008 was tough for the banking industry, the financial conditions of commercial banks and savings and loans are expected to further deteriorate in 2009 and the first part of 2010, according to Barron Putnam, president of LACE Financial Corporation, a provider of credit rating services.

March 25, 2009 - Industry News

CUDL and Kia Motors America Enter New Partnership

CUDL, which administers a point-of-sale and indirect auto-lending network for credit unions, has partnered with Kia Motors America (KMA) to provide credit union members with discounts on new vehicle purchases.

Tags: credit unions, CUDL, Kia

March 24, 2009 - Industry News

Pink-Slip Protection Driving Sales, Says CNW Research

Data continues to show that debt-protection programs, such as the Hyundai Assurance Program, are doing more than just simply driving sales, reported CNW Research in March.

March 24, 2009 - Industry News

Ford Credit Doubles Cash Offer to Purchase Ford Debt

Ford Motor Credit Company said it will take a bigger chunk out of Ford Motor Company’s $2.2 billion in term loan debt by increasing last week’s $500 million pledge to $1 billion.

Tags: Ford, Ford Credit

March 24, 2009 - Industry News

Credit Loosening Slowly, Says CNW Market Research

The industry is showing signs of life, as lender thresholds for new-vehicle buyers showed signs of loosening up in February, reported CNW Research.

March 24, 2009 - Industry News

Fireside Bank to Cease Originations, Exits Auto Finance

Unitrin Inc. has announced plans to shelve Fireside Bank, the company's subprime auto finance unit. Fireside will cease originations immediately and collect and service its existing portfolio in-house.

March 24, 2009 - Industry News

Bankruptcies Increase in 1Q, But Lenders <br/>Continue to Offer Loans

Personal bankruptcies continue to increase in quantity in 2009, according to the American Bankruptcy Institute, but dealers are still able to get quality loans on fresh bankruptcy deals.

March 19, 2009 - Industry News

Auto Loan Delinquencies Rise by 17 Percent, Says Experian Automotive

Automotive loans 60 days past due rose by nearly 17 percent from the fourth quarter 2007 to the fourth quarter 2008, according Experian Automotive.

March 18, 2009 - Industry News

Recovering Residual Values of Trucks and SUVs Help Auto ABS

The recovery of used auction prices across several vehicle segments, especially trucks and SUVs, is a positive development for auto ABS, said the international ratings agency DBRS.

March 17, 2009 - Industry News

Auto Delinquencies Becoming More Predictable, Says TransUnion

Pete Turek wasn’t surprised by his company’s report on fourth-quarter 2008 delinquency rates, which showed year-over-year increases. In fact, the senior executive at TransUnion said the numbers are becoming more predictable.

March 17, 2009 - Industry News

AFCD and Nowcom Team with XpressCredit to Offer Access to New Lender Opportunities

Automotive Finance Consumer Division LLC (AFCD) and Nowcom Corp. announced today they will complete integration of their dealer management system, Dealer Desktop, by the beginning of the second quarter 2009. As a result, dealers will have access to new lender opportunities on the XpressCredit lending platform through Dealer Desktop.

March 12, 2009 - Industry News

Big Three Captives Lose Ground as AutoCount Ranks Top Lenders

Experian Automotive’s AutoCount has ranked the top auto finance lenders for 2008, listing Toyota Financial Services at the No. 1 spot and revealing that GMAC, Ford Motor Credit and Chrysler Financial Services lost significant market share in a watershed year for the U.S. automotive industry.

Tags: American Honda Finance, BMW, Capital One Auto Finance, Chase Auto Finance, Chrysler Financial Services, Ford Credit, GMAC Financial Services, Nissan Infiniti Financial Services, Toyota Financial Services, Wachovia Dealer Services

March 12, 2009 - Industry News

Triad Financial Partners With Innovate Auto Solutions to Market Third-Party Loan Servicing

Triad Financial and Innovate Auto Solutions have partnered to promote Triad’s vehicle loan servicing to finance companies, auto dealers, investors, credit unions and other potential clients.

March 10, 2009 - Industry News

Recent Study Says Dealers Optimistic About 2009 Economy

During the fourth quarter of 2008, owners and managers of small automotive and other vehicle dealerships indicated that economic conditions are currently having the greatest impact on their businesses, but look forward to an improved economy in the next 12 months, according to a survey conducted by the Small Business Research Board (SBRB).

March 10, 2009 - Industry News

Ford Credit Agrees to Restructure Ford's Debt

Ford Motor Credit Company announced last Wednesday that its board of directors and the board of directors of Ford Motor Company have approved a plan to restructure Ford’s debt through a combination of a conversion offer by Ford and tender offers by Ford Credit.

March 10, 2009 - Industry News

Amount Financed Increases, Interest Rates Drop, Reports Federal Reserve

The average amount financed on U.S. new-vehicle purchases increased in January 2009, according to the latest Federal Reserve Statistical Release.

Tags: Federal Reserve, Finance, interest rates, loan-to-value ratio

March 9, 2009 - Industry News

AmeriCredit Announces Amendment, Extension of Warehouse Credit Facility

AmeriCredit Corp. has announced an amendment and extension of its master warehouse credit facility. The amendment, which was approved by all 10 active lenders in the facility, reduces the size of the facility to $1.11 billion from $2.25 billion, and extends the revolving period to March 2010 from October 2009.

Tags: AmeriCredit

March 3, 2009 - Industry News

Toyota Financial Services Seeks 200 Billion Yen Loan

Toyota Financial Services Corp., the financial arm of Toyota Motor Corp., has asked the government-backed Japan Bank for International Cooperation for some 200 billion yen in loans to help fund its operations in the United States, according to Kyodo News International.

March 3, 2009 - Industry News

Prestige Financial Acquires New Line of Credit With Wells Fargo

Prestige Financial Services Inc., an affiliate of the Larry H. Miller Group of Companies, has established a three-year senior secured revolving line of credit with Wells Fargo Preferred Capital (WFPC).

February 27, 2009 - Industry News

AFG Campaign Promotes Finance Product for Credit Unions

Auto Financial Group (AFG), a source of residual-based finance products for credit unions, has launched the “Good News” campaign to promote Driving Sense, an online-based auto financing software for credit unions.