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NIADA Effort to Halt Oregon BHPH Bill Succeeds

A bill aimed at restricting the practices of buy-here, pay-here dealers in Oregon is off the legislative agenda following an effort by the NIADA to educate lawmakers about the legislation’s potential harmful effects on consumers.

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CFPB Takes First Action Against BHPH Dealer

DriveTime Automotive Group was ordered to pay an $8 million penalty for making harassing debt collection calls and providing inaccurate credit information to credit reporting agencies.

Police Catch Kidnapper Using Dealership’s GPS Device

Detectives asked a dealership to activate the GPS device installed in a kidnapping suspect’s car due to his poor credit. Police apprehended the man and found his victim alive.

SFG Finance Achieves 30% Year-Over-Year Growth

SFG Finance announced this week that its portfolio grew 30% over the last year thanks to the company’s subprime flow program — an initiative in which independent, indirect auto lenders originate and immediately pass through auto loans that meet SFG Finance’s program guidelines.

BHPH Dealer to Refund Late Fees

Iowa Attorney General Tom Miller charged Auto Special Inc. with not complying with state law when it collected late fees from customers who were less than 10 days late on payments.

Ohio AG Charges BHPH Dealer With Consumer Law Violations

An Ohio buy-here, pay-here dealer is charged with failing to provide consumers with dated receipts listing the terms of the sale, as well as failing to apply for a certificate of title within 30 days of selling a vehicle.

Senior VP at SFG Finance to Retire

The auto paper purchaser announced that Senior Vice President Robert Chickowski will retire on Jan. 31, ending a 46-year career in the consumer and commercial finance industry.

Calif. BHPH Bill Heads to Governor’s Desk; Two Others Inch Closer

Three bills aimed at buy-here, pay-here dealers move closer to becoming law. Assembly Bill 1447 gains approval from both houses and awaits the Gov. Jerry Brown’s signature, while AB 1534 and SB 956 head back to their respective houses for concurrence votes.

Spireon Releases GPS Tracking Buyer's Guide for BHPH Dealers

Spireon has developed the industry's first GPS vehicle tracking buyer’s guide for dealers who are new to the buy-here, pay-here (BHPH) segment.

Calif. BHPH Bills Face Deadlines

Time is running out on three bills that aim to set new restrictions for the state’s buy-here, pay-here dealers.