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NAF Association Non-Prime Auto Financing Conference Preview
Thursday, May. 15, 2008, 12:00 AM
Nick Zulovich
HANOVER, Md. — In addition to releasing the names of speakers and sessions for the upcoming National Auto Finance Association's annual Non-Prime Auto Financing Conference, the executive director also announced that a new association will be forming in conjunction with the ... [Read More]
HSBC Touches on U.S. Auto Lending Unit, Says Recession More Likely
Tuesday, May. 13, 2008, 12:00 AM
Nick Zulovich
LONDON — In its May SEC filing, HSBC mostly discussed the challenges with its mortgage business and what it is doing to turn this segment around; however, it also mentioned the U.S. vehicle finance business, indicating this unit is being trimmed ... [Read More]
MAC Launches Revamped Site
Tuesday, May. 13, 2008, 12:00 AM
Nick Zulovich
LOUISVILLE, Ky. — Military Assistance Co. announced that it completed the first major Web site update since its initial launch in the fall of 1999. According to officials, the primary objectives of this site revamp included improving user experience, enhancing operating ... [Read More]
Auto Affordability Index Reaches 6-Year High
Tuesday, May. 13, 2008, 12:00 AM
Nick Zulovich
DETROIT — According to Comerica Bank, consumers are likely reducing the average cost of vehicles by simply turning to smaller models. Dana Johnson, chief economist of Comerica Bank, pointed to this as a possible trend after the latest auto affordability ... [Read More]
Delinquencies Rise in Latest CBA Auto Finance Study
Tuesday, May. 13, 2008, 12:00 AM
Nick Zulovich
ARLINGTON, Va. — Reflecting the current economic landscape, the Consumer Bankers Association's 2008 Automotive Finance Study found that delinquencies climbed 6 percent for new vehicles and 13 percent for used. While the study generally focuses more on the prime credit spectrum ... [Read More]
ADESA’s Kontos Discusses Market Trends at NABD
Friday, May. 9, 2008, 12:00 AM
Nick Zulovich
LAS VEGAS — During this week's National Alliance of Buy-Here, Pay-Here Dealers conference, Tom Kontos, ADESA's vice president of customer strategies and analytics, offered his analysis of the marketplace. He started off his presentation by talking about the presidential candidates and ... [Read More]
Operators Take Center Stage at NABD
Friday, May. 9, 2008, 12:00 AM
Nick Zulovich
LAS VEGAS — Operators discussing best operating practices took the stage this week at the National Alliance of Buy-Here, Pay-Here Dealers convention. Several operating managers came together this week to share insights with the audience in the panel titled "Best Operating Practices ... [Read More]
DealerTrack Highlights Quarterly Growth
Thursday, May. 8, 2008, 12:00 AM
Nick Zulovich
LAKE SUCCESS, N.Y. — Despite what it called moves by some of its financing source customers to curb credit origination volume, DealerTrack Holdings reported a strong upswing in revenue growth for the first quarter of 2008, the company stated. According to officials, ... [Read More]
DriveTime Boosts Credit Facilities
Thursday, May. 8, 2008, 12:00 AM
Nick Zulovich
PHOENIX — DriveTime announced earlier this week that it has significantly expanded the company's primary credit facilities and bolstered its capital. According to officials, DriveTime boosted it warehouse credit facilities on Apr. 29 to a combined $735 million from $500 million. ... [Read More]
Cypress Software Systems Joins NAF Association
Thursday, May. 8, 2008, 12:00 AM
Nick Zulovich
NORTH RICHLAND HILLS, Texas — Cypress Software Systems, which specializes in developing automated credit-application decision support technology, recently announced that the company has become a member of the National Automotive Finance Association. "Our membership with the NAF Association will help us ... [Read More]