Less than two months after Mark Floyd took the reins again as chief executive officer of Exeter Finance Corp., the interim leader used SubPrime Auto Finance News as a conduit to relay a message to dealers already in the subprime auto finance company’s network or stores considering it as a financing source for their retail […] [Read More]

Electronic payment and banking solutions provider ACI Worldwide announced this week that finance company Veros Credit has selected its UP Bill Payment Solution to provide customers a wide variety of convenient choices for paying their auto loans — including debit card and ACH payments via online and phone. Veros Credit provides auto financing solutions in more […] [Read More]

Autoscribe Corp. brought on Myles Locke as its new chief financial officer this week. Locke spent the past 17 years in various leadership roles in payments, finance and card processing, including vice president of finance and vice president of corporate development at Global Payments. In his role at Autoscribe, Locke will provide strategic financial direction […] [Read More]

The Association of Finance & Insurance Professionals (AFIP) highlighted this week that Gulf States Financial Services Group’s entire dealer-support team completed the AFIP Certified F&I Professional program. AFIP executive director David Robertson conducted a review and proctored the certification exam in the final round of testing at the firm’s Houston home office in December. According […] [Read More]

Elio Motors — a new auto manufacturer entering the market — announced the launch of its first national television advertising campaign this week. Elio Motors has been on the radar of many watching the ongoing direct-to-consumer sales debate spurred primarily by Tesla Motors’ sales model because of Elio’s similar direct distribution plans. Elio Motors, whose […] [Read More]

For Beepi president Owen Savir, working with some of the more traditional players in the automotive industry can be a mutually beneficial strategy. And in the online car-buying startup’s young history, it has already made moves in that direction. Ally Financial announced last month that it would be offering consumer auto financing products for vehicles […] [Read More]

Quotepro, a provider of sales and payment technology for buy-here, pay-here dealers across the country, unveiled a payment kiosk that can accept cash, check, money order, debit card and credit card transactions. The company highlighted the kiosk can be used for loan payments, down payments and insurance premium payments — with more enhancements in the […] [Read More]

Used-car sales should exceed 2.78 million units this month, but they are likely to fall short of January 2015 levels by 6.8 percent, TrueCar said in an analysis on Tuesday. On the new-car side, the company is projecting 1.15 million sales for the month, a figure that includes fleet sales. This would be down 0.3 […] [Read More]

Though many expect used prices to drop as off-lease supply expands in the auctions lanes this year, used-car prices were still on the way up in December. The most recent Market Update from RVI Group shows that the company’s Used Vehicle Price Index jumped up by 0.7 percent in December when compared to November prices. […] [Read More]

Depreciation in the lanes is slowing down as tax season gets underway. Last week, car prices dropped by an average of 0.29 percent or $30 in the auction lanes, while trucks dropped by a larger 0.39 percent or $59. That’s according to the latest Black Book Market Insights report that highlighted the slowdown in price […] [Read More]