An Ohio repossession agency wanted to inform the rest of the industry about what it’s calling a scam gaining traction in the financial community. Source One Adjusters of Ohio explained the dangers of what’s being dubbed a “private repossession,” a process that agency officials say targets a bankrupt consumer using free Internet classified ads. Source […] [Read More]

Speaking for independent dealers from Connecticut to California, Auto Remarketing caught up with Anthony Underwood this week while he was driving back to his dealership after making one of his biweekly auction trips. The current president of the National Independent Automobile Dealers Association called the search for inventory — especially fuel-efficient models — “amazing.” “You talk with seasoned […] [Read More]

Chrysler will completely pay off its U.S. and Canadian government loans — along with any related fees and expenses — with the proceeds from a notes offering, a new term loan facility and the equity investment from Fiat, the company revealed Friday. [Read More]

Late last week, KAR Auction Services revealed details of its debt refinancing effort that totaled nearly $2 billion. The company entered into a $1.7-billion, six-year senior secured term loan facility and a $250-million, five-year senior secured revolving credit facility with a syndicate of lenders. In addition to replacing the company’s prior senior secured credit facility, […] [Read More]

With automakers showing off their new offerings — which include all-new models as well as updated versions of existing rides — MSN Autos shared what it believes to be the 10 vehicles whose latest editions showed the most progress from their predecessors. [Read More]

Subaru of America recently learned it received a pair of honors from its tongue-in-cheek “Mediocrity” campaign. The automaker won a 2011 Webby Award in the automotive category, plus the Gold 2010 International Automotive Advertising Award (IAAA). Officials explained how they played off of the “abundance of bland midsized sedans in the marketplace” to create its […] [Read More]

DealerTrack Canada has brought in another provider to its Credit Application Network, the company revealed this week. Joining the network is TransUnion. Now, DealerTrack Canada can offer its dealers TransUnion credit report solutions, providing these dealers with another industry credit management resource. “The addition of TransUnion to our network brings tremendous value to our dealers […] [Read More]

As the battle to acquire Dollar Thrifty Automotive Group continues, the rental company took action this week to safeguard the interests of its shareholders. Dollar Thrifty’s board of directors installed a Shareholders Rights Plan that gives shareholders the right to buy a series of preferred stock under special circumstances, which basically helps to prevent a […] [Read More]

Despite gasoline prices above $4 per gallon in many regions, AAA projected the overwhelming majority of Americans will travel somewhere for the Memorial Day holiday by automobile, but traveling will still be down slightly from last year. Officials calculated approximately 30.9 million people plan to drive to their destination, a small decline from the 31 […] [Read More]

Maybe only in 2008 have used-car managers faced so many inventory challenges at the same time — spiking fuel costs and wholesale prices creating major headaches about how to find units that will turn. Some welcomed relief might be ahead soon according to NADA Used Car Guide. Edmunds.com agreed but not before giving a blunt […] [Read More]