NIADA Selects EFG Companies as National F&I Corporate Partner
Monday, Jan. 5, 2015, 05:10 PM
SubPrime Auto Finance News Staff
The National Independent Automobile Dealers Association and EFG Companies recently created a new strategic partnership to drive greater F&I profit opportunities for independent dealerships nationwide. NIADA tapped EFG as a national corporate partner so association members can leverage the company ... [Read More]
4 Parts of Illinois Tax Law Change to Boost Leasing
Monday, Jan. 5, 2015, 05:07 PM
SubPrime Auto Finance News Staff
In what the Chicago Automobile Trade Association is calling a rare triple winner — good for consumers, good for business, and good for government — the Windy City’s dealer organization highlighted four components of Illinois’ revamped state tax program associated ... [Read More]
Impact Transaction Prices Might Leave on Financing
Monday, Jan. 5, 2015, 05:05 PM
Nick Zulovich, Editor
Perhaps a factor helping to push outstanding auto loan balances toward the $1 trillion threshold is if the transaction price activity spotted by Kelley Blue Book analysts maintains the current rate. KBB reported on Monday that the estimated average transaction ... [Read More]
GWC Warranty Expands Headquarters
Friday, Jan. 2, 2015, 04:08 PM
SubPrime Auto Finance News Staff
GWC Warranty, a provider of vehicle service contracts and related finance and insurance products sold through dealers, finalized an expansion of its headquarters before 2014 closed. Officials highlighted GWC’s state-of-the-art facility has been expanded to almost 20,000 square feet. The ... [Read More]
AIADA Chairman: Looking Forward to What’s Ahead in 2015
Friday, Jan. 2, 2015, 04:06 PM
Larry Kull, AIADA
As this past year closed, you couldn’t turn around without seeing another retrospective on 2014. Websites, magazines, news and entertainment programs, and even radio shows get in on the action. They cover everything: The 10 best movies, the 20 best ... [Read More]
NY Regulators Shut Down Condor Capital
Friday, Jan. 2, 2015, 04:02 PM
SubPrime Auto Finance News Staff
Condor Capital is no longer originating and servicing vehicle installment contracts for dealers who cater to subprime customers in New York or more than two dozen other states. Just before the holiday, the New York Department of Financial Services submitted ... [Read More]
CarMax’s Subprime Portfolio Grows to $56.7M
Friday, Jan. 2, 2015, 03:59 PM
SubPrime Auto Finance News Staff
CarMax Auto Finance still is steadily originating subprime paper through its own test program as company executives continue to monitor the performance of this portfolio segment they launched last year. During the third quarter of its 2015 fiscal year, CarMax ... [Read More]
CPS Finalizes $267.5M Asset-Backed Securitization
Friday, Dec. 19, 2014, 04:45 PM
SubPrime Auto Finance News Staff
Consumer Portfolio Services closed its fourth term securitization of the year this week. The transaction is CPS’ 15th senior subordinate securitization since the beginning of 2011 and the third consecutive securitization to receive a triple A rating on the senior ... [Read More]
DOJ Subpoenas Ally As Treasury Sells Remaining Stock
Friday, Dec. 19, 2014, 04:36 PM
SubPrime Auto Finance News Staff
As the finance company joined the ranks being subpoenaed by the U.S. Department of Justice, Ally Financial announced on Friday that the U.S. Department of the Treasury has sold its remaining 54.9 million shares of common stock at $23.25 per ... [Read More]
Regulatory Updates Highlight Top 10 Stories of 2014
Friday, Dec. 19, 2014, 04:34 PM
SubPrime Auto Finance News Staff
As a part of the last SubPrime News Update of the year before the Cherokee Media Group team breaks for the holidays, the publication wanted to share a rundown of the top 10 stories that generated the most reader interest ... [Read More]