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Group 1 Automotive Inc., a Fortune 500 automotive retailer, announced today that Mercedes-Benz Financial has signed on as a partner to its existing $1.35 billion revolving credit facility that expires in March 2012. Mercedes-Benz Financial replaces BNP Paribas in the syndicated facility.
Read More →Vision Marketing Group introduces “Repair Assurance,” a vehicle service agreement that provides consumers with an advocacy service to represent them when dealing with auto repair facilities or warranty companies.
Read More →Software provider DealerTrack Inc. struck an agreement with Experian Automotive to serve as a value-added reseller for Experian’s AutoCount market share reports.
Read More →Edmunds.com estimated that the average automotive manufacturer incentive in the U.S. was $2,661 per vehicle sold in June 2010, down $36, or 1.3 percent, from May 2010, and down $196, or 6.9 percent, from June 2009.
Read More →The 7th annual F&I Conference and Expo is proud to announce a first-class conference program for its event taking place September 14–15, 2010, at the Paris Las Vegas hotel and casino.
Read More →Santander Consumer USA, an affiliate of Banco Santander, has reached an agreement with Citi to purchase $3.2 billion of CitiFinancial Auto's auto loan portfolio. In addition, Santander and Citi have entered into an agreement under which Santander will service a portfolio of approximately $7.2 billion of auto loans that will be retained by Citi.
Read More →House and Senate conference committee negotiators voted last Friday to exclude auto dealers from sweeping legislation to overhaul the nation’s financial system.
Read More →The Attorney General's Bureau of Consumer Protection has filed lawsuits against the owners of used-car dealerships in Philadelphia and Bucks County, along with their related companies. They are accused of deceptive advertising, selling vehicles that were not roadworthy, failing to provide vehicle titles and other violations of Pennsylvania's auto sales regulations and consumer protection laws.
Read More →A 10-year licensing agreement that allowed payday lenders operating in Arizona to originate loans above a 36 percent usury cap will be allowed to expire tomorrow, causing many payday lenders in that state to switch to offering automotive title loans — or close their doors.
Read More →ZimpleMoney launches ZimpleAuto, a solution that allows dealers to make and manage loans directly to low- and middle-income consumers, bypassing traditional lenders, banks, and credit unions.
Read More →