Experian Automotive discovered that new-vehicle leasing continued on a steady pace during the second quarter, coming in with a level similar to what the industry has generated outside of the worst point of the recent recession. Analysts determined leasing represented 24.40 percent of all new-vehicle financing during the second quarter. That level was on par […] [Read More]

As organizers gear up for the second-ever event, small group breakout sessions are new to the Re3 Conference this year. Conference chairman Bill Zadeits said these sessions will offer attendees the opportunity to focus more closely on the technology and data topics of interest to them. During each of two workshop sessions, attendees will be […] [Read More]

Along with being listed among the Alberta Venture 250 for the first time, Carfinco Financial Group revealed this week that it is setting a record pace for loan originations during the first two months of the third quarter. Carfinco indicated its loan originations in July totaled $13.0 million, and the company said August was a […] [Read More]

Primeritus Financial Services recently announced several top management promotions at its California location and one promotion at its Tennessee office.  Among the promoted members of the El Dorado Hills, Calif., office are: —John Fountaine, vice president and general manager —Chris Oskiera, vice president of USA Recovery —Bill Sheehan, vice president of sales, operations and IT […] [Read More]

Recent stress tests conducted by Fitch Ratings determined the majority of AAAsf rated U.S. prime auto loan ABS outstanding classes of notes are comfortably able to withstand a hypothetical recession and material declines in used-vehicle recovery rates. Under the moderate scenario, Fitch expects all AAAsf rated notes to likely remain rated investment grade with nearly […] [Read More]

The National Automobile Dealers Association is hosting a free Webinar this week to explain the tax implications of tangibles regulations, a rule that came on the books last year. The 90-minute session — which is set to include several experienced certified public accountants — is scheduled to begin at 1 p.m. ET on Wednesday. NADA […] [Read More]

After years of a back-and-forth saga involving three companies, a move has officially been made. Hertz Global Holdings and Dollar Thrifty Automotive Group announced Sunday that the two companies have entered a definitive merger agreement. Under this deal,  Hertz would purchase Dollar Thrifty for $87.50 per share in cash, translating into a purchase worth a […] [Read More]

A possible leveraged buyout could be in the financial future of KAR Auction Services. Two people familiar with the matter told Reuters this week that KAR has held exploratory talks with private equity firms about such a potential move. The sources indicated the deal could exceed $4 billion. In a message to Auto Remarketing on […] [Read More]

The Consumer Financial Protection Bureau is ramping up its investigative force to get a closer look at banks, lenders and other credit institutions, according to a recent job posting on the Department of the Treasury’s website. The vacancy listing indicates a marketing campaign that asks, “Do you want to be a leader in your field […] [Read More]

Yet another high-level executive from one of the nation’s largest auto finance companies is scheduled to join panel discussions at this year’s Re3 Conference, the part of the annual Used Car Week that delves into the recovery, repossession and remarketing fields. [Read More]