SALT LAKE CITY — Prestige Financial Services announced on Monday that a new lender has joined with Wells Fargo Preferred Capital and Bank of America Business Capital as institutions on its line of credit. The new company to join the credit ... [Read More]

ALEXANDRIA, Va. — The total number of U.S. bankruptcies filed during the first six months climbed 36 percent over the same period in 2008, according to the American Bankruptcy Institute. Total filings reached 711,550 during the first half of the calendar ... [Read More]

DEARBORN, Mich. — In 1960, Ford Motor Credit Co. financed its first vehicle, a 1960 Mercury Monterey located in Indianapolis. Back then, the company only had around 12 employees with one mission — to support Ford, its dealers and customers. Today, the ... [Read More]

CARY, N.C. — As many lenders continue to maintain tighter underwriting and higher credit standards, hundreds if not thousands of dealers throughout the country continue to seek out new lender relationships to fill the gap, or they elect to enter the ... [Read More]

CARMEL, Ind. — J.D. Byrider has hired a new vice president to run the company's franchise development. Taking on the position is Michael Pearce. He will be responsible for increasing the number of locations by licensing new franchisees to J.D. Byrider's ... [Read More]

DETROIT — While many dealers are halting CARS deals due to the government's slow approval and reimbursement, General Motors thinks it may have found a solution to keep dealers in Cash for Clunkers business. The automaker announced today that it will ... [Read More]

RALEIGH, N.C. — The challenges of the current economy have most industries reeling as they experience a decrease in activity. However, the repossession industry is experiencing the exact opposite. Activity is at an all-time high. That's because tough economic conditions call ... [Read More]

WASHINGTON, D.C. — On Monday, the Federal Reserve Board and the Treasury Department announced that they have approved an extension in the Term Asset-Backed Securities Loan Facility. However, officials indicated that they do not foresee any additions to the types of ... [Read More]

DALLAS — Vehicle Acceptance Corp. announced the addition of its newest branch office in Indianapolis, Ind. "This latest expansion of the nationwide subprime finance company is a strong indication of the healthy and growing buy-here, pay-here marketplace in the region," according ... [Read More]

DALLAS — The purchase of an average-priced new vehicle took only slightly more median income than it did in the prior quarter, according to Comerica Bank's Auto Affordability Index. More specifically, it took 22.1 weeks of median family income in the ... [Read More]