Dealers in Massachusetts will soon be able to utilize auto finance company Westlake Financial Services, giving  the lender a footprint in every U.S. state. The company revealed Tuesday it will begin loan originations in Massachusetts starting this coming Friday.  Commenting on the news, Westlake president Ian Anderson noted, “With entry into Massachusetts, we are now […] [Read More]

A federal judge ruled against the National Automobile Dealers Association last week in court proceedings debating who should inform potential buyers about how credit history can be used to determine an auto loan’s interest rate. NADA’s case versus the Federal Trade Commission is focused on a challenge of the federal agency’s interpretation of the meaning […] [Read More]

In the spirit of the recent holiday weekend, Hyundai Motor America has expanded its military incentive program, waiving its usual four-year active duty requirement to include additional service members in the program. Through July 31, members of the Air Force, Army, Coast Guard, Marine Corps and Navy, as well as the National Guard and Reserves, […] [Read More]

Carfinco Financial Group has extended its streak, reporting yet another quarter of record normalized pre-tax earnings. In what was the first reporting quarter for the company as a public corporation, Carfinco notched $6.6 million in normalized pre-tax earnings. Its streak of records began in the third quarter of 2009. Net earnings for the company climbed […] [Read More]

American Recovery Association and Recovery Industry Services Co. recently formed a partnership to offer a continuing education program for ARA’s members and members’ staff. Association leadership declared the continuing education program created with RISC will help ensure ARA members continue to meet the highest standards for its clients. As part of the benefits of being […] [Read More]

West Coast auto dealers have a new tool in maintaining F&I compliance, with the launch of a legal library designed to help manage risk and provide common defenses in litigation. The LAW California F&I Library is a comprehensive catalog of standardized, legally reviewed finance and insurance documents for California dealers, launched late last week by […] [Read More]

The National Independent Automobile Dealers Association tapped a new national member benefit partner, as it was announced that the latest to join the ranks is CompuPay, a  provider of payroll, tax filing and employer-related services. Under the partnership with CompuPay, the more than 20,000 members of NIADA Member Services gain access to discounted online payroll […] [Read More]

Vets-Cars Group, a dealer association focused on promoting trust between select rooftops and military consumers, recently formed a partnership with a Virginia-based lender that has financed new and used vehicles for military and civilian consumers for more than 25 years. The association is aligning with Coastal Credit, a lender that purchases contracts on a point […] [Read More]

Manheim Financial Services announced today that it started off the second quarter with a key milestone: the company provided floor planning for its 10 millionth vehicle. The dealer who helped MAFS reach this level last month was Robbie Ashcar, owner of Select Luxury in Marietta, Ga.  “This is a great milestone for MAFS, and I’m […] [Read More]

Widely predicted in numerous reports, Ally Financial reiterated the strength of its auto finance business when announcing that mortgage subsidiary, Residential Capital, decided to file for Chapter 11 bankruptcy. Officials emphasized the decision has no impact on Ally’s U.S. auto finance arm nor its direct banking businesses. Ally said it believes these key strategic actions […] [Read More]