Late last week, Auto Remarketing and SubPrime Auto Finance News confirmed retirement and succession plans for TD Auto Finance’s chief executive officer. Company spokesperson Mohammed Nakhooda indicated that after a 39-year career in the industry, Tom Gilman has decided to retire effective July 30. “Until his retirement, he’s agreed to remain available with us as […] [Read More]

Low loan default rates and high prices on repossessions are factors in one vehicle leasing company’s decision to suspend lease originations. LEAP Financial on Thursday announced it is suspending originations of leases due to capital constraints. Company officials said attempts to source capital over the last few months did not result in completing a transaction […] [Read More]

Mudd Advertising, Allied Solutions and Auto Financial Group have teamed up to offer a residual-based finance tool that aims to demonstrate what the companies believe to be the benefits of a 24- or 36-month balloon finance alternative. Among other benefits, officials contend the new iAutopayment RBF can help dealers keep customer loyalty steady and maintaining […] [Read More]

LEAP Financial, a vehicle leasing company that serves consumers who have difficulty obtaining credit and aims to help finance companies improve recoveries, recently announced the results of its most recent customer satisfaction survey. LEAP asked customers to rate their overall satisfaction with its services using a scale of 1 to 5, with 1 being “not […] [Read More]

Field services provider National Creditors Connection recently revamped its website, which now contains what company officials say is a streamlined and modernized look with new content and features. NCCI highlighted the site’s new look and feel has vibrant colors and images and improved organization to streamline navigation for visitors. Officials explained the website uses case […] [Read More]

To help stores generate more quality finance leads and streamline online vehicle purchasing, DealerTrack recently introduced FinanceDriver, which the company is calling a “robust” Web-based financing service for dealer and third-party websites. FinanceDriver, which was previewed at this year’s National Automobile Dealers Association Convention & Expo, can allow stores to provide advanced financing services to […] [Read More]

The National Automobile Dealers Association said two franchised dealers — one who already is a U.S. Representative — will testify at a congressional hearing today urging members of a House Energy and Commerce Subcommittee to support a bill that would repeal a mandate that requires dealers to provide a rarely used booklet on insurance loss […] [Read More]

J.D. Power and Associates recently released its 2012 Canadian Dealer Financing Satisfaction Study and highlighted one lender that took two of the lending categories included in the report. The study looked at Canadian dealer satisfaction in retail leasing services, prime retail credit service, subprime retail credit services and floor planning services, and found that Mercedes-Benz […] [Read More]

The share commanded by leases among all new-vehicle finance originations in the first quarter remained relatively steady against prior-year comparisons, according to Experian Automotive, which found that the lease penetration rate again exceeded 24 percent. More specifically, in the Q1 2012 State of the Automotive Finance Market report, Experian said that new lease share of […] [Read More]

Independent auto dealers have new insurance options for both the used-car and auto rental/loaner operations. GMI Insurance announced on Tuesday the launch of a new program that focuses on the following: —Small- to medium-size, non-franchised auto dealers —Incidental new-vehicle  franchise operations —Incidental sales of trucks, RVs, boats and motorcycles. With this program, GMI said it […] [Read More]