Giving credit to strong results from its recent conversion offers, Ford announced it will be cutting more than $1.9 billion off its automotive debt and plans to become “clearly net cash positive” before the year ends. Moreover, Ford said the conversion offers will help lead an approximate $180 million reduction in annualized interest costs. [Read More]

Edmunds.com recently discovered how much higher trade-in values for three-year-old vehicles were in October versus the same month in 2007. The site calculated trade-in values for these three-year-old models were 10.3 percent higher. That rise, coupled with more attractive interest rates than the norm back in October 2007, prompted site analysts to advise consumers to […] [Read More]

Hagerty Insurance Agency released on Monday its list of mass-produced 2011 models under $100,000 it believes are the most likely to end up as collector cars several years down the road. Taking the No. 1 spot on the Hagerty Hot List this year is the 2011 BMW 335IS, followed by the 2011 Cadillac CTS-V Coupe and […] [Read More]

Recovery Assurance, a repossession management firm recently founded by American Collateral Recovery Group, has now partnered with Inilex, a provider of GPS-enabled telemetry solutions.  Company officials explained Inilex has developed a proprietary program specifically designed to assist in monitoring and recovering lost vehicles. With this unique program, Recovery Assurance insists it can monitor and coordinate […] [Read More]

Is sending letters through the mail still the best way for debt collectors to make a connection with consumers in default? The most recent monthly membership survey of ACA International, the Association of Credit and Collection Professionals, showed the effectiveness of letters could be wavering. The association first asked participants to evaluate their use of […] [Read More]

Edmunds.com doesn’t think the industry should be alarmed by its November new-vehicle sales forecast that shows month-over-month and year-over-year comparisons going in different directions. Site analysts believe November new-vehicle sales, including fleet, are expected to be approximately 865,500 units. That figure represents a 17-percent increase from November of last year. However, it’s an 8.1-percent decrease […] [Read More]

Federal officials announced last week that the early proceeds from General Motors’ initial public offering allowed the automaker to pass a significant threshold in money returned to the U.S. Department of the Treasury. With GM sending $11.7 billion to the Treasury, the total amount of Troubled Asset Relief Program funds returned to taxpayers now exceeds […] [Read More]

During October, two vehicle segments primarily meant for commercial use showed some of the heaviest gains in the Canadian new-car market. These segments included large pickups and large vans, according to DesRosiers Automotive Consultants.  So why such growth in these categories? The firm pointed to strong incentives as a big factor. [Read More]

Just a few days after revealing record second-quarter and first-half results, RIFCO announced it has signed on to the DealerTrack Canada national online credit application network. As such, possibly more than 5,000 dealers utilizing DealerTrack will be able to tap into RIFCO’s lending program, officials noted. [Read More]

CBC News recently shed some light on what appears to be a fairly large vehicle safety problem in Canada. By responding to this challenge, there exists a real prospect for the country’s dealers to foster trust amongst consumers, according to Carfax. A report from CBC, citing the Automobile Protection Association, indicates that roughly a third […] [Read More]