Chase Launches Private Label Customer Financing for Jaguar and Land Rover
Thursday, Nov. 19, 2009, 12:00 AM
Nick Zulovich
GARDEN CITY, N.Y., and MAHWAH, N.J. — This morning, Chase and Jaguar Land Rover North America announced they have enhanced their offerings with the launch of the U.S. private label customer financing brands for Jaguar Financial Group and Land Rover Financial ... [Read More]
Despite Tough Environment, NowAuto Shows Improvements
Thursday, Nov. 19, 2009, 12:00 AM
Nick Zulovich
PHOENIX — Despite a troubled economy that has impacted auto purchasing, charge-offs and defaults, buy-here, pay-here dealer group NowAuto said its performance across various metrics have actually improved. More specifically, NowAuto Group reported that purchases, charge-offs and defaults have, in fact, improved significantly ... [Read More]
CPS Looking to Resume Growth in 2010
Thursday, Nov. 19, 2009, 12:00 AM
Nick Zulovich
IRVINE, Calif. — In reporting third-quarter results, Consumer Portfolio Services' chief executive officer called this period a turning point for the company. Basically, total revenues for the quarter came in at $52.8 million, a drop of about $38.9 million, or 42.4 ... [Read More]
AmeriCredit Changes Up Board of Directors Membership
Tuesday, Nov. 17, 2009, 12:00 AM
Nick Zulovich
FORT WORTH, Texas — AmeriCredit announced the addition of Robert Sturges to its board of directors this week. Sturges will take the place of Bruce Berkowitz, who resigned from the board. Sturges currently is the president and chief executive officer of ... [Read More]
J.D Byrider Honors Top Dealers
Tuesday, Nov. 17, 2009, 12:00 AM
Nick Zulovich
CARMEL, Ind. — J.D. Byrider recently recognized various dealers as winners of its annual awards during the company's November convention in Rancho Palos Verdes, Calif. The Franchise of the Year winners were chosen in three categories — single (one location), mid (two-three ... [Read More]
Tight Credit Cuts Into Mint Leasing’s Revenue Total
Tuesday, Nov. 17, 2009, 12:00 AM
Nick Zulovich
HOUSTON — The Mint Leasing attributed the difficulty in securing adequate credit streams as reasons for its latest revenue figures remaining off as compared to last year. Company executives detailed the situation recently in its quarterly financial report. For the three-month ... [Read More]
Fitch Provides Ratings Outlook for $4.7 Billion in Subprime Auto ABS
Tuesday, Nov. 17, 2009, 12:00 AM
Nick Zulovich
NEW YORK — Fitch Ratings recently provided outlooks for 33 classes of subprime auto loan asset-backed securities, and just over half, or 61 percent, gained stable outlooks. Meanwhile, the other 39 percent received a negative outlook. Overall, 33 classes from 17 ... [Read More]
Comerica: CARS Impacted 3Q Affordability Index
Thursday, Nov. 12, 2009, 12:00 AM
Nick Zulovich
DALLAS — Comerica Bank released its latest Auto Affordability Index this week and determined that the purchase and financing of an average-priced new vehicle dropped 0.6 of a week to roughly 21.9 weeks of median family income in the third quarter ... [Read More]
Hudson Cook Partner Named to American Law Institute
Thursday, Nov. 12, 2009, 12:00 AM
Nick Zulovich
HANOVER, Md. — Hudson Cook announced a partner in the firm's Ann Arbor, Mich., office, whose practice centers around the auto world, has been named to The American Law Institute. Gaining the distinction is Thomas Buiteweg, whose practice focuses on helping ... [Read More]
Zoombak Launches Mobile iPhone Application
Thursday, Nov. 12, 2009, 12:00 AM
Nick Zulovich
NEW YORK — Zoombak announced its personal GPS tracking devices can now be accessed via a new application available on the Apple iPhone. The company's Advanced GPS technology iPhone customers, including those who use the service for GPS repossession and recovery services, ... [Read More]