Flagship Credit Acceptance, a national indirect automobile finance company, announced the issuance of its first asset-backed securitization. The total amount was $109 million in a transaction that was completed Thursday. Officials highlighted the securitization will increase Flagship’s liquidity position and will allow the company to further grow its auto finance business. As part of the […] [Read More]

Say a shopper interested in buying a certified pre-owned vehicle walks onto a dealer’s lot and his or her credit isn’t mature yet, or perhaps it has taken some lumps. That’s one area where Scott Penza has found the F&I element of CPO has come in handy for his dealers. [Read More]

In what may spur some extra lot traffic for its dealers, Chrysler Group has launched its “No Payments for 90 Days” promotion as part of its annual Summer Clearance Event, which runs through the end of August. The 90-day payment deferment is good on the retail purchase of any new 2012 Chrysler, Jeep, Dodge, Ram […] [Read More]

Group 1 Automotive — which ranked No. 6 on Auto Remarketing’s list of The Top 125 Used-Car Dealer Groups —  announced Wednesday that its board of directors authorized a program to repurchase up to $50.0 million of the company’s common stock. The company emphasized purchases may be made from time to time, based on market […] [Read More]

As Manheim’s Tom Webb prepared his presentation for his quarterly conference call to discuss the wholesale market, he chose not to include a slide showing repossession volume trends since he needed only three words to sum up the situation. When asked by Auto Remarketing about what repossession volume is like in the lanes, Webb replied […] [Read More]

Dealers who have potential buyers with subprime credit standings might have a better chance of getting them financed if FICO’s quarterly survey of bank risk professionals is any indication. More than 50 percent of respondents expected the auto sector to see the largest increase in subprime borrowing this year. The survey indicated 38 percent of […] [Read More]

Recovery Database Network recently announced the launch of two-factor authentication for users of RDN’s specialized software platform linking auto lending institutions with recovery companies. Although RDN’s current login system requires an ID, password and separate security code, officials explained that adding two-factor authentication provides a substantial increase in user account security for both auto lenders […] [Read More]

The Skip-Tracers National Certification Program, rolled out earlier this year by veteran Alex Price, has been named one of the top training programs in the country by an industry website. Officials from PINow.com tapped Price’s program as one of the top 25 available nationwide. Price took nearly 30 years of industry experience and created an […] [Read More]

Recovery Database Network’s May Analytics Update showed both recovery volume and orders increased month-over-month. Analysts indicated May recovery volumes increased 2 percentage points from April as the index reading moved up to 51 from 49. They added May recovery orders increased 3 percentage points from the previous month, pushing the index figure up to 56 […] [Read More]

Automotive retail is a competitive business. Competition thrives between dealers, brands, suppliers, and manufacturers — driving us all to do better. As any dealer will tell you, to succeed in this industry you must have a competitive edge — and enjoy going head to head with your rivals. Competition undoubtedly makes us a healthier, sharper […] [Read More]