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NewsSeptember 28, 2010

Demand High, Approval Rates Low for Subprime

The latest figures from CNW Research indicate that car buyers with FICO scores below 619 are still having a tough time obtaining new and used financing.

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NewsSeptember 27, 2010

NADA Elects Utah Dealer Stephen Wade as 2011 Chairman

The National Automobile Dealers Association has elected Stephen Wade as chairman for 2011. He is currently vice chairman of the NADA and has been a member of the association since 1973.

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NewsSeptember 24, 2010

Wells Fargo Provides Carolina Finance With Credit Facility

Wells Fargo Preferred Capital, a subsidiary of Wells Fargo & Company, has provided a revolving credit facility to Carolina Finance LLC.

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NewsSeptember 24, 2010

Prestige Financial Establishes $150 Million Conduit Facility

Prestige Financial Services Inc. has established a $150 million asset-backed commercial paper conduit facility through JPMorgan Chase Bank N.A. in Chicago.

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NewsSeptember 24, 2010

September Auto Sales Show Industry Lacks Momentum

This month's new-car sales (including fleet sales) are expected to be approximately 936,900 units, a 27.9 percent increase from September 2009 but a 5.5 percent decrease from August 2010, according to Edmunds.com.

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NewsSeptember 22, 2010

Wells Fargo Provides K STReet Finance With $12 Million Credit Line

Wells Fargo Preferred Capital, a subsidiary of Wells Fargo & Company, has provided a $12 million revolving credit facility to K STReet Finance Inc.

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NewsSeptember 22, 2010

MobileTrac To Resell Title Data From National Motor Vehicle System

MobileTrac LLC, the provider of instaVIN vehicle history service, is now an authorized provider and reseller of vehicle title and brand data through the National Motor Vehicle Title Information System.

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NewsSeptember 21, 2010

Recession Ended Last June, Says NBER

The recession officially ended in June 2009, the committee that determines the timing of recessions said yesterday. It added that any future downturn of the economy would signal a new recession, not a double-dip recession as some economic watchers have warned as a possibility.

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NewsSeptember 21, 2010

NAE Hires National Corporate Trainer and Operations Manager

National Automotive Experts has added two new members to its team, hiring Tim Parsons as corporate trainer and Beth Williams as operations manager.

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NewsSeptember 21, 2010

Intersection Technologies Launches New Website to Promote E-Contracting Platform

Intersection Technologies Inc. has launched a new and expanded Website (www.FandIExpress.com) to support its e-contracting platform, F&I Express.

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