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Credit card down payments, multiple vehicle purchases and even straw purchases can be completed without committing bank fraud, as long as you tell the bank first.
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The dealer group realized its 17th consecutive quarter of double-digit year-over-year growth in earnings per share, with net income from continuing operations reaching a record $117 million in the end-of-year quarter.
Read More →GM Financial officials said Ally shouldn’t be surprised by GM’s decision to internalize its lease program. The company ended the year with a 50% share of GM’s lease business.
Read More →January’s total new-vehicle sales increased 13.7% from a year ago to 1.51 million units, according to Autodata Corp. January’s seasonally adjusted annual rate was 16.66 million, a slight dip from the 16.92 million SAAR recorded in December.
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Jeffrey Brown, who headed up Ally’s dealer-financial services business, will succeed Michael Carpenter, who is retiring from his post and from the company’s board after five years.
Read More →IHS Automotive is predicting an increase of 2.4% in global automotive sales in 2015, continuing an unbroken five-year run of growth and sales recovery from the Great Recession.
Read More →The research firm attributed the 2% gain in used-vehicle sales to higher CPO sales and a growing inventory of fresh off-lease vehicles. Even independents felt the trickledown effect of quality used vehicles.
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During a quarterly earnings conference call last week, Ally’s former CEO opened up about General Motors’ unexpected decision to move all of its lease incentives to its captive, GM Financial.
Read More →The number of consumer strictly adhering to their budget is dropping to pre-recession levels, according to the firm’s monthly report. And the number of car buyers for whom price is no object is on the upswing.
Read More →This month, the Department of Justice issued a subpoena to Consumer Portfolio Services requiring the finance source to turn over documents related to subprime auto finance.
Read More →J.D. Power and LMC Automotive expect the industry to realize its best January for new-vehicle sales since 2004, with the firms projecting sales of 932,000 units.
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