Auto Financial Group, an online provider of residual-based financing products for dealers and lenders since 1999, announced Tuesday that it has enhanced its balloon loan program with a new feature called the Dealer Inventory Download (DID). Officials explained DID can provide lenders and dealers a comprehensive and more efficient way to utilize the company’s residual-based […] [Read More]

In keeping with its goal of providing professional certification and compliance training documents to the collateral recovery and lending industries, Recovery Industry Service Co. has been working with the National Alliance of Buy-Here, Pay-Here Dealers to provide these services to BHPH dealers. Company officials intend to offer crucial repossession training and compliance materials during the […] [Read More]

Stone Point Capital, a global private equity firm based in Connecticut, recently announced a purchase of GWC Warranty Corp. and certain affiliated entities from CIVC Partners. Trident IV L.P. — a private equity fund managed by Stone Point Capital — and GWC’s management team came together to buy GWC. GWC is headquartered in Wilkes-Barre, Pa., […] [Read More]

A strong start to 2013 left the February data reported in the latest RDN Monthly Analytics Update falling lower against January but slightly higher versus a year ago. Officials said February recovery volumes dropped 13 percentage points versus the January level. However, the February reading came in 4 percentage points higher than the year-earlier mark. […] [Read More]

A federal class-action lawsuit was filed against Ford Motor Co. in West Virginia late last week for what plaintiffs’ attorneys have said are alleged defects causing unintended acceleration. The suit includes plaintiffs from 14 states and was filed by Grant & Eisenhofer P.A. — as well as other firms — in the U.S. District Court […] [Read More]

CarMark Auto Finance is hosting a free webinar this afternoon that will explore the details behind a new residual-based financing option that can help dealers greatly reduce monthly payments for their customers. But you must act quickly to take advantage; the event begins at 2 p.m. (EST) Leading the “CarMark Auto Finance: A New Residual-Based […] [Read More]

CarMark Auto Finance is hosting a free webinar on Thursday that will explore the details behind a new residual-based financing option that can help dealers greatly reduce monthly payments for their customers. Leading the “CarMark Auto Finance: A New Residual-Based Finance Program” webinar is David Ruggles, manager of CarMark Auto Finance. The event is scheduled […] [Read More]

When we talk about human nature, we’re talking about conditions that are basic to all of us, so what we’re really talking about is a tremendous natural resource that can be studied and used to further our own purpose. Once you have a basic understanding of the prey you are hunting, the task becomes not […] [Read More]

For stores and groups that depend on dealer reserve as a crucial piece of F&I income, industry associations are already out to keep indirect financing in place as legal experts see the latest move from the Consumer Financial Protection Bureau putting it in jeopardy. The CFPB made the connection between dealer reserve and potential discriminatory […] [Read More]

A bulletin released by the Consumer Financial Protection Bureau on Thursday targeted dealer reserve and potential discriminatory practices as the agency took its first regulatory move aimed solely at the auto finance industry. The CFPB explained its bulletin was directed at indirect auto lenders that permit dealers to increase consumer interest rates and that compensate […] [Read More]