As subprime auto lending gains more steam — by as much as 20 percent in some instances — analysts from NADA Used Car Guide and Fitch Ratings explained how the latest movements are benefiting dealers and investors. When it comes to moving new metal, Jonathan Banks, executive automotive analyst with NADA Used Car Guide, recently […] [Read More]

Experian Automotive revealed recently that consumers continued to make timely auto loan payments during the second quarter, lowering the average delinquency rate across all lending organizations, including commercial banks, captive finance arms, finance companies and credit unions. Experian’s analysis showed that the second-quarter’s 30-day delinquency rate stood at 2.52 percent, compared to 2.59 percent in […] [Read More]

American Recovery Association and RISC are holding free continuing education to benefit recovery and remarketing professionals this week, as is MasterFiles’ skip-tracing expert Alex Price. The one-hour Webinars conducted by ARA and RISC are broken into three 20-minute sessions. They are geared to focus on the “color of the law,” how recovery agents can protect […] [Read More]

This morning, Penske Automotive Group revealed a pair of financial note offerings. The first of the two announcements resulted in Penske commencing a cash tender offer for any and all of its outstanding $375.0 million aggregate principal amount of 7.75 percent Senior Subordinated Notes due 2016. In connection with the tender offer, the company is […] [Read More]

AutoCanada recently entered into a new $240 million revolving floor plan facility agreement with The Bank of Nova Scotia, replacing its existing facility with Ally Credit Canada. Executives explained that the new revolving floor plan facility will be used to finance the purchase of new- and used-vehicle inventory at 21 of AutoCanada’s dealership locations. They […] [Read More]

As part of a series of training sessions scheduled during the remainder of the year, RouteOne is going to host a free Webinar titled, “Managing Adverse Action.” The upcoming Webinar set for 1 p.m. ET on Tuesday will include members of RouteOne’s legal department and product development team. Organizers are looking to educate dealers on […] [Read More]

According to the newest RDN Monthly Analytics Update, June recovery volumes increased 2 percentage points from May levels while June recovery orders also moved 2 percentage points higher from the previous month. RDN reiterated its Recovery Volume Trend Summary provides a rolling 29-month summary of the volume of recoveries and orders in the U.S. Officials […] [Read More]

RoadLoans.com announced recently that it has been tapped as the preferred online lender by Kelley Blue Book. And through its collaboration with RoadLoans, Kbb.com offers consumers with all types of credit the ability to obtain auto financing from a single preferred provider. From the Kbb.com site, buyers can use a secure online application powered by […] [Read More]

Along with a long discussion about how satisfaction with auto finance providers is significantly higher among dealers who have a preferred relationship with their lender, the J.D. Power and Associates 2012 U.S. Dealer Financing Satisfaction Study determined which finance company ranked highest for retail leasing. Taking the top spot with score of 959 and edging […] [Read More]

Along with an announcement about the completion of its latest acquisition, DealerTrack revealed on Thursday that it received the endorsement from a state dealer association. Officials highlighted the Virginia Automobile Dealers Association has endorsed DealerTrack’s Sales and F&I, Inventory Management and Electronic Vehicle Registration solutions for use by Virginia dealerships. The DealerTrack solutions and services […] [Read More]