DETROIT — A 27-year veteran of GMAC Financial Services and its former parent General Motors, Bill Muir, head of the company's global automotive services, announced his intention Monday to retire within the next year. Muir will continue in his current role until ... [Read More]

FARMINGTON HILLS, Mich. — Mercedes-Benz Financial announced it has received approximately $2.5 million in payments from customers via their mobile devices since launching its iPhone app last October. Given this success, the company has decided to launch an iPad app as ... [Read More]

CHICAGO — Nationwide Acceptance Corp. announced late last week that it has opened a new division that will specialize in providing credit lines to buy-here, pay here dealers in the markets the company serves. Asset-backed senior credit lines are available from ... [Read More]

GARDEN CITY, N.Y. — Chase and Mazda North American Operations on Wednesday broadened their working relationship by agreeing to a multi-year private-label contract. The agreement means Chase will be the exclusive U.S. auto finance provider for Mazda, operating under the brand ... [Read More]

WASHINGTON, D.C. — The American Bankers Association's Consumer Credit Delinquency Bulletin shared more positive news about the recovering economy this week. Direct and indirect auto loan delinquencies were among nine of the 11 categories that dropped or remained flat during the ... [Read More]

CLEARWATER, Fla. — On Wednesday, Nicholas Financial announced it has opened two new branch offices located in Nashville, Tenn., and Grand Rapids, Mich. The new offices expand Nicholas Financial's branch network to 52 locations. The company expects to open a ... [Read More]

CHARLOTTE, N.C. — Wells Fargo Securities' managing director and senior economist indicated this week that the recovery is real and that his company is not anticipating a double-dip recession, which bodes well for the auto industry. In fact, Mark Vitner said ... [Read More]

SAN ANTONIO — USAA has expanded the number of military personnel who are now are eligible to check out its online vehicle-buying services Now, all veterans of the U.S. Armed Forces who served honorably can test drive the online buying portal to see how much they ... [Read More]

ALEXANDRIA, Va. — The American Bankruptcy Institute found that March consumer bankruptcy filings totaled the highest amount since Congress overhauled the Bankruptcy Code in 2005. ABI reported that there were 149,268 consumer bankruptcies filed in March. That figure represented a 34-percent ... [Read More]

SCHAUMBURG, Ill. — Experian Automotive recently found that subprime loans on used vehicles are starting to rebound and gain ground. Experian indicated that there was a "slight loosening" of credit for used-vehicle financing in the fourth quarter compared to the third ... [Read More]