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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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Southfield Capital Advisors, a private investment firm focused on the lower middle-market, agreed to sell Dealers’ Financial Services (DFS) LLC to Dollar Financial Corp. for approximately $118 million in cash.
Read More →Fort Financial Credit Union (FFCU) will now offer Auto Financial Group (AFG)’s Driving Sense as a direct and indirect lending option as part of a recent agreement with the provider of residual-based financing products for credit unions.
Read More →Arctic Cat Inc. reported net income of $14.8 million for the second quarter ended Sept. 30, 2009, down from $16.9 million posted in the year-ago period.
Read More →The National Automobile Dealers Association has urged the U.S. Small Business Administration to expand loan amounts and guaranties under the Dealer Floor Plan Pilot Initiative, which launched in July and will continue through September 2010.
Read More →AutoNation Inc. reported a profit of $65 million from continuing operations for the third quarter 2009, compared to a net loss of $1.40 billion in the year-ago period.
Read More →Copart Inc., an online vehicle auction company, has integrated Dealer Services Corporation (DSC), an independent used-car financing company, into its Website, www.copart.com, allowing Copart members to select and pay for vehicles by accessing their DSC account.
Read More →The Mint Leasing Inc., a provider of leasing services to franchised automobile dealers, announced today that it renewed a credit line worth $29.2 million with Sterling Bank of Houston.
Read More →An insider confirmed on Wednesday reports that GMAC Financial Services Inc. is in discussions with the U.S. Treasury Department for a third-round of taxpayer-backed funding – one of two moves the auto finance company made this week to shore up its capital position ahead of an impending regulatory deadline.
Read More →The ratings for prime senior tranches of asset-backed securities (ABS) auto loan and credit card transactions have remained stable in the first nine months of the year, despite concerns by Fitch Ratings about growing problems in consumer credit and unemployment.
Read More →Attributing its third-quarter decline in auto loans to a retrenchment and repositioning of its auto finance business, Capital One reported a 3.3 percent decline in auto loans last Thursday — the same day the McLean, Va.-based company reported a 14 percent increase in third-quarter profits.
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