DETROIT — Comerica Bank released its Auto Affordability Index for the third quarter late last week and found that the relative cost for an average-priced new vehicle for families has increased, though only by a small margin, and that families are ... [Read More]

PASADENA, Calif. — VantageILM announced late last week it has hired a new national director of sales. Filling the position is Jim Kubera, who comes to the company from Hyperion Software. Kubera's responsibilities are slated to include management of sales- and ... [Read More]

ATLANTA — L2C recently launched a new feature that can help auto lenders, according to the company. The function, Link2Credit Score, is designed to provide lenders better appraisal tools in determining risks of potential borrowers. The program, which has been available since ... [Read More]

LAKE SUCCESS, N.Y. — DealerTrack Holdings revealed its third-quarter financial results late last week and found that transactions processed are on the upswing, officials reported. The number of transactions processed increased to 23.8 million last quarter, hiking 26 percent from this ... [Read More]

WASHINGTON, D.C. — As many in the industry are aware, the final red flag rules go into effect on Nov. 1 of next year. Are dealers and financial institutions prepared? SubPrime Auto Finance News interviewed several experts this week to get an ... [Read More]

SCHAUMBURG, Ill. — According to the latest data from Experian Automotive, the top 10 lenders represented 30.31 percent of all financed used vehicles in July. Melinda Zabritski, director of Automotive Credit for Experian Automotive, explained that while the top lenders ... [Read More]

SOUTHFIELD, Mich. — Reporting its third-quarter results, Credit Acceptance indicated that its loan portfolio grew; however, increases in operating expenses and finance charges that expanded slower than loan receivables led the company to report lower income than the prior year. ... [Read More]

LOS ANGELES — Continuing its path to growth, Westlake Financial Services recently announced it has hit a new milestone this month by hiring its 100th dealer account manager. "Reaching this milestone is a great success. We are working toward our ... [Read More]

CHESTER, Pa. — Wells Fargo Auto Finance recently named the recipients of its third-quarter Stagecoach Award. The Stagecoach Award is a quarterly honor that recognizes the achievements of Wells Fargo Auto Finance's best dealers, officials indicated. Winners were selected from ... [Read More]

NEW YORK — While GMAC reported strong results in its auto finance and insurance businesses, the company took a hit in its mortgage and credit market on its real estate side, which led the company to report a loss for the ... [Read More]