ATLANTA — Manheim needed only one word to summarize what 2012 was like for buy-here, pay-here dealers. In what economist Tom Webb likely will expand upon during the 15th annual National Conference conducted by the National Alliance of Buy-Here, Pay-Here ... [Read More]

NEW YORK — Fitch Ratings discovered this week that both prime and subprime U.S. auto ABS losses have risen in recent months. However, analysts think the trend is likely a "speed bump" that's fleeting as the sectors enter a seasonally ... [Read More]

LOS ANGELES — Marubeni Corp., which owns a 20 percent stake in Westlake Financial Services and has two seats on the company board, announced the promotion of an executive to general manager of Marubeni Automotive Department-I among other changes. Relocating ... [Read More]

AUSTIN, Texas — In developments that likely will affect many repossession agencies, lenders' recovery departments and repo units coming down the lanes, the American Recovery Association and National Finance Adjusters merged into one trade association this week. Officials explained the ... [Read More]

CHICAGO — While noticing a surge in non-prime originations, TransUnion came out Tuesday saying that the national auto loan delinquency rate moved higher to close 2012 but continued to remain near historic low levels. TransUnion determined the ratio of borrowers ... [Read More]

TORRANCE, Calif. — 700Credit, one of the nation's largest credit reporting agencies offering a suite of value-added compliance services to more than 4,000 dealers, recently formed an integration partnership with ADAM Systems. Officials explained this agreement will allow ADAM Systems ... [Read More]

CARMEL, Ind. — NextGear Capital recently closed a $1.55 billion securitized bank facility. Led by the Bank of Tokyo-Mitsubishi, the company highlighted the two-year securitized facility provides flexibility and tremendous lending capacity through a large six bank syndicate. Executives noted ... [Read More]

CHARLOTTE, N.C. — It was a busy year in the F&I office at Sonic Automotive dealerships, as the retailer increased revenue in the finance, insurance and other category by nearly 20 percent in 2012. Sonic closed the year by pushing ... [Read More]

BANDON, Ore. — While approvals for subprime deals is one of the factors that appears to be taking some steam out of new-vehicle sales momentum this month, CNW Research also noticed that the percentage of used-vehicle contracts with buyers having ... [Read More]

BENTONVILLE, Ark. — As more lenders are buying deeper into subprime pools, buy-here, pay-here dealership chain America's Car-Mart managed to post a 16-percent increase in the number of units sold during the third quarter of its fiscal year. Car-Mart turned ... [Read More]