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]

The Nova Scotia Automobile Dealers Association recently brought TD Auto Finance in as a Select Supplier for the dealer group, signing TDAF to a three-year agreement. Under the deal, TDAF will help NSADA offer value-added programs and services to its dealers, while also funding training/education programs that will be offered to dealers and members of […] [Read More]

Though down more than 3 percentage points from an “exceptionally high” year-ago period, lease penetration rates remained steady in the near-20-percent range during February, thanks to relative stability in lease return volume and consistent incentives, according to J.D. Power and Associates. And while the fallout from the 2008 leasing drought influenced the market in February, […] [Read More]

Consumer Financial Protection Bureau director Richard Cordray recently reiterated a head-turning fact: currently 30 million Americans are subject to some form of third-party debt collectors. And how these collectors, as well as repo agents and recovery departments, attempt to get some of that collateral and money back is about to be even more regulated. Cordray […] [Read More]

Renovo Services recently released its agency scorecards for the forwarding company’s repossession partners.  The company highlighted its Get Best Agent (GBA) program identifies the agents in a defined ZIP code range and uses several weighted metrics to automatically select the best agents. Officials indicated the primary metrics used to evaluate the best agent are recovery […] [Read More]

Hertz Global Holdings revealed late last week that its equipment rental subsidiary acquired Arpielle Equipment Co., a leading metropolitan New York City-based operation that’s focused primarily on business to the construction and industrial markets. Hertz estimated the metropolitan New York City equipment rental market exceeds $1.3 billion. The company anticipated Arpielle will generate incremental revenues […] [Read More]

Renovo Services recently recapped how the company successfully implemented its business continuity plan as severe storms ripped through the Midwest and Southeast on March 4. Renovo chief operating officer Wes Goebel emphasized, “The recent storms in the southeastern United States provided a very real reminder of the importance of system and process redundancy in a […] [Read More]

The 2012 Auto Remarketing Canada conference presented by CarProof has announced two new sessions featuring F&I experts that will share insight with dealers at next month’s event. Among the bevy of F&I experts joining this year’s lineup include Manheim Financial Services Canada regional director Roy Vandermeer, Automotive Finance Corp. director of business development Neill Waters […] [Read More]

With wholesale vehicle prices continuing to be strong and financial institutions ramping up recovery efforts to leverage this condition, Phil Hanks believes he and the rest of the team at Primeritus Financial Services are “catching the industry at the right time.” Hanks elaborated about the plans he and wholesale veterans Cam Hitchcock and Chuck Tapp […] [Read More]

What is being hailed as a move to “harmonize the recovery industry,” MVTRAC recently reached an amicable transaction with Digital Recognition Network and Vigilant Video involving a license of MVTRAC’s license-plate recognition technology historical tracking patent. Officials declared the undisclosed terms of the transaction conclude all litigation between the parties. “We are pleased to announce […] [Read More]