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NewsNovember 3, 2011

VAuto Announces Partnership With Auction Pipeline

vAuto announced that its customers can now source used vehicles available at Auction Pipeline auctions. They also have the ability to access run lists from within vAuto’s proprietary stocking module.

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NewsNovember 3, 2011

Total Consumer Debt Nearly Equivalent to Prerecession Years, Equifax Reports

Total consumer debt now stands at $11.2 trillion, nearly equivalent to the $11.1 trillion pre-recession level in 2006, according to the latest Equifax National Credit Trends Report.

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NewsNovember 3, 2011

Auto Finance Companies Originating More Loans Than Banks, Credit Unions, Equifax Reports

Auto finance companies have increased lending by more than 47 percent over the past two years, according to the latest Equifax National Credit Trends Report.

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NewsNovember 3, 2011

Prestige Secures $30 Million Credit Line With Chase

The new line of credit from Chase will serve as one of two primary sources of short-term revolving liquidity to fund Prestige Financial Services’ consumer lending activities.

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NewsNovember 3, 2011

Industry Realizes Best October Since 2007

Automakers enjoyed their best October since 2007, with U.S. auto sales rising about 8 percent from last October to 1.02 million, according to Autodata Corp.

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NewsNovember 1, 2011

New Service Levels Playing Field for Single-Point Dealers

Dealers United introduced a new service in which it will act as the conduit for single-point dealerships to negotiate better terms and prices with vendors, and bring costs down through volume purchasing.

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NewsNovember 1, 2011

Ally Introduces Financing Product With 48th Month Sell Option

Ally Financial Inc. debuted Ally Buyer’s Choice in five markets yesterday, a new financing product that offers the benefits of leasing but provides the advantages of owning a vehicle at a fixed rate and payment.

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NewsNovember 1, 2011

Ford Credit President Appointed AFSA Chair

The American Financial Services Association announced that John Noone, Ford Motor Credit Company president, was appointed AFSA 2011-2012 chair.

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NewsNovember 1, 2011

American Honda Finance’s Senior VP Honored With AFSA Award

The American Financial Services Association presented Stephen Smith, senior vice president of American Honda Finance Corporation, with the Distinguished Service Award during its 95th annual meeting in Washington D.C.

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NewsNovember 1, 2011

Hyundai Leads CPO Consumer Interest on AutoTrader.com

AutoTrader.com announced that Hyundai captured five of the top 20 spots for certified pre-owned "Big Movers" on the Website in September.

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