WASHINGTON — According to the latest statistics released from the Federal Reserve, the average amount financed at auto lenders in May came in at the lowest point it has been since 2004 and 2005. This trend is likely indicative of the ... [Read More]

LAKE SUCCESS, N.Y. — DealerTrack announced Wednesday that it has developed and implemented a new interface linking dealers with credit unions served by Aimbridge Lending Solutions, which is a provider of lending technology and premium services to credit unions throughout the ... [Read More]

FARMINGTON HILLS, Mich. — RouteOne announced this morning that it will integrate with XpressCredit, a Web-based credit application management system. The goal of this integration is to allow RouteOne's finance sources to use their existing connections to conduct business with XpressCredit's ... [Read More]

CARY, N.C. — Looking at the first half of this year, the SubPrime Auto Finance News team found that unique visitors to the site are up 97.36 percent over the same period of last year. This basically means that the number ... [Read More]

CHICAGO — Overall, consumers may not be struggling as much financially as some reports have indicated, according to TransUnion. In fact, while auto delinquencies generally go down from the fourth quarter of year-end to the first quarter of the following year, ... [Read More]

HANOVER, Md. — At its second meeting, the newly formed Payment Assurance Technology Association named an interim board of directors, elected leadership and appointed auto association executive Jack Tracey as its executive director. Board officers are: President: Stan Schwarz, PassTime Vice ... [Read More]

SARASOTA, Fla. — CarBiz announced recently that it has sold its software division to Constellation Homebuilder Systems, a division of Constellation Software Inc., for $2.5 million. According to officials, the sales price is more than double what the software division had contributed ... [Read More]

CARY, N.C., and PHOENIX — Tomorrow is the deadline for all non-prime lenders looking to participate in the special August SubPrime Auto Finance News edition that will be mailed out to thousands of dealers throughout the country. To be sure to ... [Read More]

LEXINGTON, Ky. — Dealers' Financial Services recently announced that it named a new president and chief executive officer, along with other initiatives. The company's new president and CEO is Robert Nelson. Prior to joining DFS, Nelson served as chief operating officer ... [Read More]

ATLANTA — Rick Potter, president of CAR Financial Services, a full-service financial institution dedicated to the buy-here, pay-here industry, announced several management changes this week. Taking on the position of chief operating officer and chief financial officer is Mark Lewis. Lewis ... [Read More]