Two separate purchases involving players connected to the repossession, recovery and remarketing-related fields were announced on Thursday. Starting out with news from the Indianapolis area, ADESA announced that its PAR North America subsidiary bought Fontana, Calif.-based Auto Depot Remarketing. ADR works with various credit unions, regional banks and finance companies, and with this deal, PAR […] [Read More]

As the amount of nonprime, subprime and deep subprime auto loans moved higher year-over-year, Experian Automotive discovered that quarterly vehicle repossessions dropped by 14.8 percent to achieve the lowest rate since analysts began tracking the data seven years ago. According to its latest State of the Automotive Finance Market report, Experian found that 0.36 percent […] [Read More]

J.D. Byrider announced a promotion on Monday, naming Jack Humbert to the position of vice president of franchise sales. The company called Humbert a “point man for franchised recruitment and multi-unit franchisee development.” Humbert has been with J.D. Byrider for three years, and helped in development as a senior franchise consultant and director of franchise […] [Read More]

Fiserv’s Craig Carrow has a list of five keys to successful remarketing, four of which deal with topics like lower turn time, increased returns, lower operational costs and streamlined operational processing — all of which are fairly timeless in terms of their importance. [Read More]

Ally Financial announced on Monday that it will introduce the first of several new ads in August that showcase diverse dealers. The company highlighted the ads are the latest addition to Ally’s “Success Stories” campaign, which celebrates the dealers and their leadership in the communities they serve. Josefina Hooker of Freedom Buick-GMC in Odessa, Texas […] [Read More]

Starting in 1791, and with just a few rare exceptions, Congress has disbanded during the dog days of summer to return to their home districts for rest, relaxation, and some good old-fashioned politicking. These district work periods, traditionally held during the month of August, provide legislators with an opportunity to escape from Washington, D.C.’s sweltering […] [Read More]

NextGear Capital announced a new vice president of operations and business development on Tuesday. Named to the role was Peter Grupposo, who will head up the company’s market portfolio strategies and field operational structure. He will be based at corporate headquarters in Carmel, Ind. Grupposo’s most recent post was as a regional director for NextGear […] [Read More]

Organizers of the North American Repossessors Summit revealed the dates and theme of their sixth annual event, which for the first time is being hosted by the American Recovery Association, Allied Finance Adjusters and Time Finance Adjusters. NARS 2014 is set for March 20—22 with the theme “Reclaim Your Industry.” Organizers say they’re focused on […] [Read More]

Toyota Financial Services will soon have a new president and chief executive officer.   The company announced Monday that George Borst is retiring at the end of September, and filling his shoes as president and CEO will be Mike Groff, who is currently senior vice president of sales, marketing and product development. Upon retiring from […] [Read More]

If other commercial consignors are experiencing similar lease return trends as what Manheim chief economist observed about Ford Credit in the company’s latest fixed income call, there may be some good news on the used-car supply front. [Read More]