BANDON, Ore. — Subprime approvals in March showed gains for the used- and new-vehicle sides of the market, according to the latest analysis from CNW Research, which said this uptick in approvals follows what has been the trend during the last ... [Read More]

LOS ANGELES — Westlake Financial Services discovered this week that its portfolio containing more than 150,000 accounts reached a new threshold in total receivables. As of March 11, company officials say this level hit $1 billion — a milestone they ... [Read More]

WASHINGTON, D.C. — The Federal Reserve's January update on averages for new-vehicle loans by finance companies revealed a few noteworthy trends, including how far both the loan-to-value ratio and the average amount financed have sunk. Officials reported that January's ratio dropped to 80 ... [Read More]

LAKE SUCCESS, N.Y. — The number of active lenders now connected to DealerTrack's credit application network has now reached 1,000 U.S. lenders. The network has now grown from five lenders back in 2001 to 1,000 today. "The DealerTrack credit application network ... [Read More]

IRVINE, Calif. — In addition to revealing some auto financing trends, Kelley Blue Book announced it has teamed up with Bank of America and Autobytel's Car.com to provide shoppers with prime and non-prime finance options via Kbb.com. Thanks to the BoA ... [Read More]

MINNEAPOLIS — FICO insists more vehicle lenders are synchronously migrating to the FICO 8 Auto Score — with most companies set to complete the adoption process by May. Officials indicated a number of lenders have already migrated to the FICO ... [Read More]

MONTOURSVILLE, Pa. — AutoTrakk, a vehicle leasing company specializing in the subprime market, recently was granted a patent by the U.S. Patent and Trademark Office. Patent No. U.S. 7860764 B1 officially recognizes the AutoTrakk method and system for leasing vehicles ... [Read More]

EDINA, Minn. — CarHop, a buy-here, pay-here dealership group, is now advertising that its underwriters can get customers financed with as little as $249 down through the end of March. The company has stores in 11 states throughout the U.S., and ... [Read More]

WASHINGTON, D.C. — Kicking off next month, the Federal Trade Commission will host roundtable discussions with dealers, financial experts and the public to explore consumer protection issues related to the sale, financing and leasing of light vehicles. Basically, federal officials ... [Read More]

ATLANTA — DealerTrack formed a partnership this week to provide lenders access to The Work Number, an automated solution for employment and income verification from Equifax. Officials explained The Work Number will be integrated into the DealerTrack Digital Document Services ... [Read More]