Fitch Ratings reported last week that losses on both prime and subprime U.S. auto ABS rose in July following lows seen earlier in the spring. Despite the increase, analysts indicated used-vehicle values have stayed strong in the past two months. "Additionally, overall asset performance remains strong heading into the softer fall months thanks to the […] [Read More]

According to Equifax's latest National Consumer Credit Trends Report, new credit for auto originations between January and May of this year soared to an eight-year high, producing an increase of more than 15 percent from same time a year ago. Equifax also indicated the total number of new loans during that span came in at […] [Read More]

The New York/New Jersey/Connecticut chapter of the National Vehicle Leasing Association is hosting a golf outing, dinner and charity raffle drawing in honor of the colleagues who have been instrumental with the association and the industry who are no longer alive. Organizers said members and non-members are invited to attend the event on Sept. 25 […] [Read More]

With so many different makes and models within a single vehicle segment available nowadays, as well as how finance companies are buying contracts lower down the credit spectrum, Black Book Lender Solutions wanted to provide some updated depreciation guidance and recommendations. [Read More]

Aided by guidance from the Presidio Group, Rene Isip and John Eagle completed the sale of their dealership, Toyota of Lewisville in Lewisville, Texas, to RLJ-McLarty-Landers Automotive Holdings, a Little Rock, Ark.-based dealer group. Officials indicated that terms of the transaction were not disclosed “It was a rewarding experience to build Toyota of Lewisville into […] [Read More]

In what organizers called an unprecedented show of unity in the repossession industry, Allied Finance Adjusters, Recovery Specialist Insurance Group and Time Finance Adjusters agreed to come together to offer training to their members as well as non-members throughout the industry at a unified event. These three organizations are sponsoring seminars and client discussions on […] [Read More]

In an effort to get more contracts bought in the F&I office, Equifax recently rolled out the availability of a new product, Equifax Dimensions, which can deliver what the company highlighted is a more in-depth picture of past credit behavior in order to better predict future credit trends. Using this new solution, Equifax explained lenders […] [Read More]

Swapalease.com reported continued increases this year for customer credit approval on lease transactions through the end of July. According to website data, total year-to-date credit approvals stood at 75.6 percent through July, up from 73.9 percent through the end of June and the highest cumulative average recorded so far this year. Analysts indicated that historical […] [Read More]

The market is white-hot for dealership purchases right now, and it appears that public and private groups are both aggressively going after acquisitions. That’s according to the mid-year Automotive Retail Buy-Sell Report from the Presidio Group LLC, which said the value proposition of a dealership is quite strong. In fact, when looking at private buyers […] [Read More]

CarProof, one of Canada’s largest vehicle history report providers, announced Monday the sale of a minority stake in the company to an American-based private equity investment firm.   The new minority stake holder is San Francisco-based Hellman & Friedman, which has offices in London, New York and San Francisco. Ed Woiteshek, a director at Hellman […] [Read More]