Moves by the federal government greatly swayed what happened in the dealership F&I office during the first half of the year. Whether it was how delayed tax returns slowed refunds getting into consumers’ accounts or regulators intensifying their focus on how auto financing is completed, developments out of Washington, D.C., dominated industry conferences, store management […] [Read More]

After a year of multiple acquisitions, Primeritus Financial Services rebranded several of its business service segments. Explaining the methodology behind the decisions, Primeritus Financial Services chief executive officer Chuck Tapp said: “Since the acquisitions of USA Recovery and Renovo over the past year, Primeritus has worked with customers and clients to better align their services […] [Read More]

As the Consumer Financial Protection Bureau prepares its annual report to Congress, the agency wanted specifics of what compliance matters other federal regulators are involved with regarding non-bank entities, which can include franchised and independent dealerships. The Federal Trade Commission, which has jurisdiction over dealers, shared what it had with the CFPB last week. But […] [Read More]

Nearly half of the markets represented among the Top 10 for the highest monthly auto loan payment for a new model in April are located in the same state, according to Edmunds.com. And popular vehicles sold in those areas appear to be pickups. "It's no secret that April was a good month for full sized […] [Read More]

Most of the metrics included in the latest RDN Monthly Analytics Update indicated downward movement in April. Analysts said April recovery volumes dropped 2 percentage points versus the March level. However, the April reading came in 7 percentage points higher than the year-earlier mark. RDN noticed more declining patterns in terms of recovery orders. April […] [Read More]

The used-car market is thriving, and smart dealers are focusing their communication and sales efforts on women who make up 53 percent of all used-car sales and influence a much higher percentage of all purchases. Women today are exercising more control over their personal finances and the contractual dealings they enter into. It’s no secret […] [Read More]

Blackline GPS recently reached an agreement with MVTRAC for the distribution of Blackline’s Dart covert and asset tracking system into the recovery industry. Well-positioned within the auto finance, government and law enforcement market, officials highlighted MVTRAC’s Intelligent Data Network can process real-time data from public and privates sources to automatically identify delinquent collateral, including vehicles, […] [Read More]

When company leadership highlighted its first-quarter performance last week, Ally Financial discussed its objectives for continuing to work with Chrysler franchised dealers even though its exclusive agreement with the automaker expired on Tuesday. Ally Financial president Bill Muir acknowledged one of the biggest changes will be that the company no longer will arrange subvented leases […] [Read More]

What the finance company and automaker said was coming back in February became a reality on Wednesday as Santander Consumer USA and Chrysler Group officially launched its new private-label, full-service lending program. Chrysler Capital is designed to offer a broad spectrum of financing services for Chrysler customers and dealers. Under a 10-year, private-label agreement announced […] [Read More]

City Enterprises, parent entity of City Auto and Dealers Auto Auction, along with Phil Hanks, former president of Primeritus Financial Services, created a joint collaboration resulting in the formation of Connect 1 Recovery, a full service collateral recovery company. Connect 1 Recovery is headquartered in Nashville, Tenn., and operates in Maryland, Tennessee, Georgia, Texas and […] [Read More]