Industry News
Used-Vehicle Activity Pushes Ally's 2011 Auto Finance Performance
-- February 03, 2012
NEW YORK — With used-vehicle origination volume paving the way, Ally
Financial leadership praised its fourth-quarter and full-year auto
finance performance, as the company revealed its latest balance sheet
readings this week. Officials tabulated that Ally's North American automotive finance operations, which include ...
[ Full Story ]
LendingTree Autos Expands Network to Franchised Dealerships
-- February 03, 2012
CHARLOTTE, N.C. — LendingTree launched a new-vehicle lead program this
week, expanding on its existing automotive finance business, LendingTree
Autos. Through this program, the company explained, franchised dealerships now can ...
[ Full Story ]
Auto Portfolio Services Partners with Prentice Acceptance
-- February 03, 2012
GREENWOOD VILLAGE, Colo. — Auto Portfolio Services recently entered into
an agreement with Prentice Acceptance Corp. to provide third-party loan
servicing for ...
[ Full Story ]
GM Financial Taps DataScan Technologies as Commercial Lending Solution Provider
-- February 01, 2012
FORT WORTH, Texas — Along with detailing its latest asset-backed securitization, General Motors revealed which provider will handle its new commercial lending services business. Officials tapped DataScan Technologies as ...
[ Full Story ]
Ally to Roll out Enhanced Lease Training at NADA Convention
-- February 01, 2012
DETROIT — With the annual gathering of franchised dealers dead ahead, Ally is ramping up its lease training on the heels of more than 7,700 dealer employees going through the program a year ago. The company highlighted attendees of Ally's lease training sessions can learn about ...
[ Full Story ]
CPS Launches Updated Website and New Smartphone App
-- February 01, 2012
IRVINE, Calif. — Consumer Portfolio Services recently revealed a new website and the launch of a new smartphone app for dealers. The website includes a slew of new features, including an online Fund Report and …
[ Full Story ]
RSIG Discusses How Allied & Lenders Are Embracing Recovery Management Solution
-- February 01, 2012
MANASSAS, Va. — Recovery Specialist Insurance Group recently highlighted how the industry has been embracing its National Agency Management Systems, a technology solution that's been welcomed by Allied Finance Adjusters, as well as lenders. RSIG contends that NAMS is the only ...
[ Full Story ]
Nominations Now Open for SubPrime 75
-- January 30, 2012
CARY, N.C. — In what has become tradition, SubPrime Auto Finance News is looking to highlight the top companies in the industry in an upcoming issue. Whether a lender, floor planner, GPS provider or another type of vendor, the publication will consider ... [ Full Story ]
SFG Finance Unveils Loyalty Program & Alliance with Subprime Analytics
-- January 30, 2012
ARLINGTON, Texas — Earlier today, SFG Finance launched a new loyalty program and formed an alliance with Subprime Analytics. As part of the alliance, the purchaser of paper from buy-here, pay-here finance companies, banks and credit unions indicated thousands of dealers now will have access to ...
[ Full Story ]
Open Dealer Exchange Partners with VW Credit to Launch First Two Phases of FinanceSource Dealer Program
-- January 30, 2012
SOUTHFIELD, Mich. — Designed to streamline processes for Volkswagen and Audi dealers, Open Dealer Exchange today announced an integration partnership with VW Credit. The technology company for lenders, F&I product providers and dealers explained the partnership includes ...
[ Full Story ]
AutoNation & ASEDA Fleet Join Forces on Purchasing Program for Native Americans
-- January 30, 2012
DALLAS — ASEDA Fleet has partnered with AutoNation to offer affordably priced new and used vehicles for members of Native American and Alaska Native Tribes. The program, which can be accessed online, started last week in ...
[ Full Story ]
MFS Explains Thinking Behind DSC Deal
-- January 27, 2012
ATLANTA — Expanding more on the recent deal to buy Dealer Services Corp., Patrick Brennan, group vice president for Manheim Financial Services, told SubPrime Auto Finance News today that at first, dealers and clients won't see many changes. Business will remain as usual. However, over time ... [ Full Story ]
AFC Unveils Free Flooring for a Year Promotion
-- January 27, 2012
DALLAS — While also highlighting the company's revamped website, Automotive Finance Corp. announced a new national floor planning promotion this week. During festivities at the company's official 25th anniversary celebration hosted at ADESA Dallas, AFC said it is giving away ...
[ Full Story ]
Ford Credit's Full-Year Net Income Dips Slightly
-- January 27, 2012
DEARBORN, Mich. — Although its net income grew in the fourth quarter, Ford Motor Credit revealed Friday that its 2011 net income softened slightly from what it compiled a year earlier. Executives reported their net income settled at ...
[ Full Story ]
NIADA Taps New Legislative Counsel
-- January 27, 2012
ARLINGTON, Texas — The National Independent Automobile Dealers Association has appointed a legislative/regulatory/compliance counsel, revealing Wednesday that ...
[ Full Story ]
Edmunds.com Revisits Cases of Dealers Deceiving Military Personnel
-- January 25, 2012
SANTA MONICA, Calif. — Edmunds.com revisited a discussion this week that's been on the radar of finance associations, lenders and the new Consumer Financial Protection Bureau — how members of the U.S. military are particularly ...
[ Full Story ]
Experian's Latest Business Benchmark Report Reveals Several Improvement Signs
-- January 25, 2012
COSTA MESA, Calif. — Experian's fourth quarter Business Benchmark Report showed general improvement in business performance in most categories such as bill payments and delinquencies quarter over quarter. However, analysts acknowledged ...
[ Full Story ]
Cherokee Automotive Group Highlights New Re3 Brand, Redesigned Newsletter
-- January 25, 2012
CARY, N.C. — Nearly two years after first delving deeper into the industry with a new weekly e-newsletter, Cherokee Automotive Group is rebranding its repossession and recovery media property with an eye on ...
[ Full Story ]
Ally Tapped as Preferred Finance Source for Wheelchair Accessibility Vehicle Manufacturer
-- January 23, 2012
DETROIT — Vehicle Production Group, which designs, manufactures, markets and distributes models for wheelchair accessibility, selected Ally Financial Monday as the preferred financing provider in the U.S. Officials explained Ally will offer ...
[ Full Story ]
CarHop Rolls out Fourth Colorado Store
-- January 23, 2012
EDINA, Minn. — For the second time this month, CarHop broadened its network of buy-here, pay-here dealerships. After venturing into California for the first time as well as placing another store near Chicago, CarHop opened its fourth rooftop in ...
[ Full Story ]