The Used Car Dealers Association of Ontario notched a win in legal arena earlier this month when the Competition Tribunal denied a motion from the Insurance Bureau of Canada to rescind an Interim Supply Order that the two parties agreed to in October. This Interim Supply Order — which both parties green-lighted on Oct. 20 […] [Read More]

As many may remember, using a home-equity loan to make a new-vehicle purchase was a key method for acquiring a vehicle prior to the recession and the house-price collapse, according to CNW Research. But firm president Art Spinella says recent trends suggest that consumers are reverting back to home equity loans, especially among those who […] [Read More]

The Consumer Financial Protection Bureau recently revealed a proposed rule that would codify protections for privileged information submitted to the bureau by the financial institutions it regulates. Back in January, the CFPB advised the institutions it supervises that the submission of privileged information to the CFPB does not waive any applicable privilege with respect to […] [Read More]

Auto Auction Services Corp. (AutoIMS) recently released the results of a survey it conducted about floor pricing, including aggregate findings from more than 325 commercial vehicle consignor responses. Goals of the survey included assessing the preferences held and the challenges faced by the commercial consignor community as it relates to pricing vehicles for auction sale. Survey responses came […] [Read More]

AutoNation recently revealed its board of directors authorized the repurchase of up to an additional $250 million of the company’s common stock.  Prior to the increased authorization, AutoNation determined it had utilized substantially all of the amounts previously authorized by its board of directors under its share repurchase program.  AutoNation tabulated that it has approximately […] [Read More]

With Keven Chartier taking on the role of director of financial services, the new director of remarketing for Nissan Motor Acceptance Corp. will be Kevin Cullum.  Cullum is currently the director of credit services. Chartier’s move from remarketing to financial services and Cullum’s move into remarketing were just some of the changes revealed late last […] [Read More]

It may not yet have a Canadian stronghold, but Mark Dubois envisions the potential for the buy-here, pay-here financing business in Canada. And he’s reaching out to the country’s dealers at a grassroots level during this year’s Auto Remarketing Canada conference presented by CarProof, where he will teach them more about the BHPH market’s unique […] [Read More]

Geared to provide added assurance and enhance the lease experience for their customers, Toyota Financial Services and Lexus Financial Services this week rolled out the Excess Wear & Use Protection Plan, the newest product to join the TFS/LFS portfolio.  Brand officials acknowledged consumers often have questions about their financial responsibility for items such as dings, […] [Read More]

Consolidated Asset Recovery Systems launched a new open-source, freeware version of its IBEAM Web portal to the agent and lender community. The company highlighted this new version of IBEAM — available after April 15 — will be specific to repossession and invoice management, providing all the capabilities of asset tracking, real-time monitoring of updates, online […] [Read More]

Ford Motor Co. announced Thursday it has successfully completed an amendment and extension of its revolving credit facility.  As a result of the transaction, executives explained Ford’s revolving lenders have agreed to extend the maturity of commitments totaling $9 billion to Nov. 30, 2015 from Nov. 30, 2013. Prior to the amendment, the OEM indicated […] [Read More]