SOUTHFIELD, Mich. — Credit Acceptance Corp. recently completed $201.3 million asset-backed non-recourse secured financing. Pursuant to this transaction, the company calculated that its contributed loans having a net book value of approximately $251.7 million to a wholly-owned special purpose entity ... [Read More]

DALLAS — With an economic rebound still tenuous, recovery efforts by finance companies, credit unions and buy-here, pay-here dealers remain a critical part of doing business nowadays. As the industry ventures deeper in 2012, SubPrime Auto Finance News reached out to ... [Read More]

FARMINGTON HILLS, Mich. — Mercedes-Benz Financial Services revealed this week its employees will now have the opportunity to participate in a program facilitated by the Detroit Institute of Arts, which focuses on the sharing of art and culture. Through the ... [Read More]

WASHINGTON, D.C. — The Federal Trade Commission filed charges and requested that a U.S. district court put a stop to the allegedly deceptive tactics of two California-based auto loan modification operations. In a release revealed today, the FTC asserted that ... [Read More]

SALT LAKE CITY — Prestige Financial Services recently completed its ninth rated term securitization, issuing $230,071,000 in securities backed by $244,756,951 in auto installment receivables. In a transaction led jointly by J.P. Morgan Securities and Wells Fargo Securities, the company ... [Read More]

MINNEAPOLIS — Wolters Kluwer Financial Services recently announced Marine Coast Financial — a company that initiates financing for marine dealerships in the western United States — joined the AppOne platform. Wolters Kluwer reiterated AppOne can help to automate the indirect ... [Read More]

DETROIT — As the top auto finance provider in the U.S., according to AutoCount by Experian Automotive, Ally is continuing its strong momentum, with solid year-over-year growth in total vehicle financing (up 27 percent). Ally continues to grow across its new- ... [Read More]

SANTA MONICA, Calif. — TrueCar revealed a new vice president of dealer development late last week, and appointed to the position was Ken Potter. His responsibilities in the new role include managing field sales and inside account management teams, as well ... [Read More]

ONTARIO, Calif. — CUDL recently released a new white paper that focuses on the “keys” to successful credit union indirect auto lending programs. The white paper, titled  “'Successful Indirect Auto Lending Programs Build on Credit Union Strengths in Relationship and ... [Read More]

CHICAGO — In order of credit importance in consumers' eyes, TransUnion discovered this week that an auto loan ranks No. 1. TransUnion recently updated a study that found in 2011 consumers were more likely to pay their auto loans before their ... [Read More]