Former United Auto Credit & Westlake executive becomes SAFCO’s new chief risk officer
Tuesday, Nov. 26, 2024, 11:21 AM
Cox Automotive sells off another F&I tool as Vitu to acquire Dealertrack’s titling division
Monday, Nov. 25, 2024, 11:39 AM
CFPB examines carveouts in state data privacy laws for financial institutions
Monday, Nov. 25, 2024, 12:03 PM
Comerica: Consumers Spending Less, Extending Terms
Tuesday, Feb. 26, 2008, 12:00 AM
Nick Zulovich
DETROIT — According to the latest analysis from Comerica Bank, an average-priced new vehicle required 24.4 weeks of median family income in the fourth quarter. The Auto Affordability Index from Comerica Bank discovered that the latest reading is down 0.5 weeks ... [Read More]
Freedom Financial Gains $15 Million Credit Facility
Tuesday, Feb. 26, 2008, 12:00 AM
Nick Zulovich
SPRINGFIELD, Mo. — The Freedom Financial Group, a subprime auto finance company that primarily purchases contracts via independent dealers, recently announced it has signed a $15 million, two-year, revolving credit facility with ReMark Capital Group, which is an affiliate of the ... [Read More]
GMAC Plans Cuts to Auto Finance Unit’s Workforce
Thursday, Feb. 21, 2008, 12:00 AM
Nick Zulovich
DETROIT — GMAC Financial Services announced Wednesday that it is restructuring its North American auto finance business, which includes trimming about 15 percent of its workforce. The goal of this plan is to reduce costs, streamline operations and position the ... [Read More]
Chrysler Financial Hosts F&I Conference
Thursday, Feb. 21, 2008, 12:00 AM
Nick Zulovich
FARMINGTON HILLS, Mich. — Chrysler Financial hosted its fifth annual F&I Conference early this month, Feb. 11 to 15, and provided an overview of the event. Moreover, the company announced a new tool to benefit the customers of its franchised dealers. The ... [Read More]
Sekurus Launches iLocate to Help Dealers, Customers
Thursday, Feb. 21, 2008, 12:00 AM
Nick Zulovich
MURRIETA, Calif. — Sekurus, the manufacturer of ON TIME, recently announced the introduction of iLocate, which offers benefits for both dealers and vehicle owners. According to officials, the new device enables the dealers and owners of both new and pre-owned cars ... [Read More]
Compli to Host Online Seminar to Answer Dealer Questions on Red Flag Rules
Thursday, Feb. 21, 2008, 12:00 AM
Nick Zulovich
PORTLAND, Ore. — In addition to announcing that red flag rules compliance program, which was developed in collaboration with Hudson Cook, the company announced it is offering an online seminar to answer dealer questions about the new requirements. Red flag expert ... [Read More]
SBRB Study: Less Expansion Planned
Tuesday, Feb. 19, 2008, 12:00 AM
Nick Zulovich
NORTHFIELD, Ill. — Many smaller dealerships won't be expanding any time soon, according to recent research. A Small Business Research Board study in the third quarter of 2007 found that only 24 percent of respondents indicated they would expand their dealerships in ... [Read More]
RouteOne Strikes Deal with Black Book, MenuVantage
Tuesday, Feb. 19, 2008, 12:00 AM
Nick Zulovich
FARMINGTON HILLS, Mich. — RouteOne announced recently that it has partnered with Black Book. As part of the deal, Black Book will provide its used-vehicle values for RouteOne to use in its Vehicle Values assessment tool, which has now reached more ... [Read More]
NAF Announces Conference Lineup
Tuesday, Feb. 19, 2008, 12:00 AM
Nick Zulovich
HANOVER, Md. — The National Automotive Finance Association announced the date and location as well as speakers and panel discussion topics for its 12th annual Auto Financing Conference. The conference will be held from June 4 to 6 at the Renaissance Worthington Hotel in Fort ... [Read More]
NowAuto Reports Quarterly Results
Tuesday, Feb. 19, 2008, 12:00 AM
Nick Zulovich
TEMPE, Ariz. — NowAuto Group recently reported results for the fiscal 2008 second quarter, which ended Dec. 31, 2007. Highlighting the report was a drop in revenue from the previous year but an improvement in gross margin and a decrease in ... [Read More]