TORRANCE, Calif. — Toyota Financial Services will soon have a new president and chief executive officer.  The company announced earlier this week that George Borst is retiring at the end of September, and filling his shoes as president and CEO ... [Read More]

WASHINGTON, D.C. — With August straight ahead and back-to-school campaigns for clothes and more about to intensify, Americans Well-informed on Automobile Retailing Economics urged parents to provide guidance and support so teenagers can take an active role in selecting a ... [Read More]

FORT WORTH, Texas — General Motors Financial posted year-over-year gains in quarterly earnings and loan originations as company executives highlighted how they helped the parent automaker maintain its "industry leading leadership" for subprime loan penetration. GM Financial indicated the OEM ... [Read More]

GREELEY, Colo. — Many buy-here, pay-here dealerships originate contracts with interest rates at 20 percent and higher. It's one of the reasons why store managers in California cheered a year ago when the governor vetoed a measure that would have ... [Read More]

LOS ANGELES — Analysts from GoBankingRates.com recently created a list of new vehicles recommended for subprime buyers. Headlining the list of "5 Cheap, Stylish Cars for Subprime Borrowers" was the Toyota Corolla. The site went with this model because of ... [Read More]

CHICAGO and WASHINGTON, D.C. — Finance managers trying to finalize that vehicle contract for a new college graduate might continue to have trouble getting that debt-to-income ratio at a point where the paper is purchased by a finance company. A ... [Read More]

CARY, N.C. — Of the four public dealer groups that conducted conference calls this week to discuss second-quarter results, only one shared details about noticeable changes regarding relationships with lenders as heightened regulation comes from the Consumer Financial Protection Bureau. ... [Read More]

ARLINGTON, Va. — Concerns about the volume of credit data gathered by the Consumer Financial Protection Bureau along with potential that information could be compromised were raised again by a former staff attorney at the Securities and Exchange Commission, who ... [Read More]

PHILADELPHIA — VINtek recently reported that the company assisted with the passage of electronic lien and title (ELT) legislation in Nevada, which has been signed into law by Gov. Brian Sandoval. The company explained ELT replaces paper automotive liens with ... [Read More]

SARASOTA, Fla. — Leedom and Associates is a month away from its next round of training sessions for buy-here, pay-here dealers, focusing on helping managers both sell vehicles and maintain collections. Leedom executive vice president and senior partner Chuck Bonanno ... [Read More]