Canadian debt levels continued to creep up in the last quarter of 2012. In fact, TransUnion's quarterly analysis of Canadian credit trends found that the average consumer's total debt (excluding mortgage) increased nearly 6 percent from $25,960 at the end of 2011 to $27,485 in Q4 2012. “The year-over-year increase was the largest of its […] [Read More]

As was reportedly coming, Chrysler Group and Santander Consumer USA joined forces Wednesday for an agreement to provide a full spectrum of auto financing services to Chrysler and Fiat customers and dealers under the name Chrysler Capital. In a move that will end a three-year, post-bankruptcy association with Ally Financial, Chrysler Capital will be launched […] [Read More]

Citing the growing need among dealers and auto finance companies to obtain affordable options for portfolio management and collateral protection, ITURAN recently unveiled a new, streamlined version of its popular Controlit technology. The new version of Controlit Core is designed to offer an even better value than its predecessor without compromising on quality. The new […] [Read More]

A new residual-based financing program from the creators of the CarMark Certified Pre-Owned program, called CarMark Auto Finance, is hitting its stride just in time for dealers to take advantage of the opportunity during the profitable first months of the new year, according to company officials. [Read More]

As the 2013 NADA Conference & Expo approaches, companies continue to highlight their top offerings for dealers before the big event. NADA exhibitor PartProtection launched Monday an extended service coverage on original equipment parts sold through a dealership's parts department, through Parts eStores, and on OE parts installed in a dealership's service department.  [Read More]

With the merger of Manheim Automotive Financial Services and Dealer Services Corp., a new inventory finance entity has been announced this morning. NextGear Capital is the new name for the merged lenders, following Manheim’s acquisition of DSC in 2012.   The floor plan company — which said it serves more than 17,000 dealers and 1,000 […] [Read More]

As the auto lending industry continues to strengthen in an environment with more regulation, organizers of the 17th annual Vehicle Finance Conference & Exposition are again bringing together top executives who plan to share their perspective on the auto finance world. Chris Stinebert, president and chief executive officer of the American Financial Services Association, said, […] [Read More]

The National Independent Automotive Dealer Association once again endorsed RouteOne as the credit application management system of choice for independent stores in 2013.  As an endorsed NIADA National Member Benefit Partner since 2009, RouteOne has assisted NIADA’s 20,000 independent dealer members with streamlining their F&I process through the utilization of RouteOne’s credit application network. “RouteOne […] [Read More]

After climbing for two months in a row, the latest RDN Monthly Analytics Update indicated December recovery volumes decreased 1 percentage point from the November level, leaving 2012 closing on a trend of consecutive month-over-month dips. However, the December reading came in flat against year-earlier levels. Countering that downward movement, RDN indicated December recovery orders […] [Read More]

Store managers and finance executives now can pluck guidance from new reference books when they have situations regarding compliance with a specific federal act as well as — in the case of franchised dealerships — relationships with parent manufacturers. CounselorLibrary.com, the publisher of auto financing and leasing legal compliance services, announced the newest in its […] [Read More]