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Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
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The U.S. Department of the Treasury announced this week that it expects to sell 410,000 shares of Ally Financial Inc. common stock in a private offering at $7,375 per share. The sale is part of the department’s continued effort to wind down the Troubled Asset Relief Program.
Read More →Holiday shopping trends help 2013 finish with healthy credit approvals, Swapalease.com reports.
Read More →The transaction significantly expands Autobytel’s dealer network and is expected to deliver meaningful increases in revenue and cash flow.
Read More →After a recent pause in loan originations, Western Funding Inc. is now operating at full capacity with the financial support of Westlake Financial Services.
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Used-vehicle prices in the United States declined slightly in the fourth quarter 2013, but they remained at historically high levels as consumer demand stayed strong, Manheim reports.
Read More →The U.S. House of Representatives passed legislation this week repealing a 1977 law requiring auto dealers to certify that new vehicles are compliant with the Clean Air Act. The measure now heads to the U.S. Senate.
Read More →Reynolds and Reynolds’ director of compliance will present a legal and regulatory workshop at the 2013 NADA Convention. He will examine best practices in F&I document creation and review.
Read More →Dealer Capital is launching a new auto loan purchase program. The rollout is nationwide and aims to cover most sizes and types of auto portfolios.
Read More →As a financial holding company, Ally is permitted to engage in a broader range of business activities and can continue to operate its insurance and remarketing businesses as part of its dealer financial services operation.
Read More →The Dealertrack Credit Application Network has grown from five lenders in 2001 to more than 1,400 lenders today, allowing dealers to electronically submit application data to a diverse network of banks, independent finance companies, captives and credit unions.
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