The firm found that dealers are willing to pay a premium for high-quality service from finance providers, including dedicated underwriters and dealer-focused sales reps.
NADA University announced it is now offering all of its legal and regulatory webinars — live and on-demand — at no cost to NADA and American Truck Dealer members and their staffs.
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.
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.
GM Financial announced it has chosen DataScan Technologies LLC as its systems provider for the captive’s Commercial Lending Services business.
Asbury Automotive Group Inc. announced that it has entered into a $900 million credit facility that will provide up to $625 million for new-vehicle inventory floorplan financing and up to $100 million for used vehicle inventory floorplan financing.
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.
Lithia Motors Inc.’s new $200 million three-year revolving syndicated credit facility will provide $100 million for new-vehicle floorplan financing and $100 million for general corporate purposes.
Group 1 Automotive’s syndicated credit facility will provide $1.1 billion for inventory floorplan financing and $250 million for working capital, acquisitions and general corporate purposes.
General Motors Co. said it plans to launch this year a pilot program through its captive lender, GM Financial, to make loans to dealers to buy new vehicles from the company.
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