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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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Wolters Kluwer Financial Services announced that Gateway One Lending & Finance is now on its AppOne platform, which automates the indirect lending, credit approval and compliance processes for lenders and auto, RV, marine and powersports dealers.
Read More →The city council in Porterville, a small city in California's San Joaquin Valley, is considering whether to loan $250,000 to Porterville Chrysler Jeep Dodge. The dealership's owner, Mark Shipley, told the council that his store faces a financial shortfall as it recovers from losing its floorplan financier, Key Bank, in July 2009, according to the Porterville Recorder.
Read More →Enhancements made possible by the passage of the Small Business Jobs Act have been implemented into a variety of programs operated by the U.S. Small Business Administration (SBA). Among the programs benefiting from the bill is the agency’s dealer financing program.
Read More →Consumer credit decreased at an annual rate of 1.7 percent in August, according to the Federal Reserve’s monthly report.
Read More →RouteOne LLC has completed integration with Texas-based Exeter Finance Corp., a specialty auto finance company that provides financing services to select franchised auto dealers.
Read More →Safe-Guard Products International LLC is expanding into the Mexican and Brazilian markets.
Read More →Finance Express, a provider of Web-based financial services and technology for independent dealerships, has added ACS Financial to its lender platform.
Read More →Chrysler Group LLC has selected Ally Financial to be the preferred financing provider for Fiat vehicles in the U.S. marketplace. Ally Financial will offer retail financing, leasing, wholesale financing, working capital and facility loans, and remarketing services to the new Fiat dealer network.
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Things are still challenging for below-prime customers, but the middle tiers are beginning to show signs of life, Experian Automotive reveals.
Read More →Security National Automotive Acceptance Corporation (SNAAC) has secured a $200 million revolving credit facility from Wells Fargo Preferred Capital and Fifth Third Bank.
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