Alternative credit data provider FactorTrust on Tuesday closed on a $42 million investment led by ABS Capital Partners, a late-stage growth company investor, and MissionOG, an early to growth stage investor. With the investment, FactorTrust insisted the company will accelerate its growth and expand its suite of offerings to enable lenders to drive desired business […] [Read More]

The five companies under Volkswagen’s umbrella that are involved in the sale of its V6 diesel engines in the United States received notification today from the Environmental Protection Agency alleging that their 3.0 liter V6 engines also contain defeat devices that circumvent EPA emissions testing. Volkswagen later denied those allegations. This second diesel-related notification of […] [Read More]

Your buyer has scoured the auctions for quality pre-owned vehicles — both in-lane and online — and your dealership now has a great stock of used inventory. Well, almost; the cars still have to make it through reconditioning to be front-line ready, and any dealer knows this can be time consuming. And of course, this can […] [Read More]

Auto Remarketing and SubPrime Auto Finance News on Tuesday highlighted the winner of this year’s Re3 Executive of the Year Award, which is being presented by Consolidated Asset Recovery Systems. This year’s winner is Scott Phillips, who is vice president of credit risk and business process at Lendmark Financial Services, which was founded in 1996 […] [Read More]

Millennium Capital and Recovery continued its series of strategic additions to its executive management team by recently tapping Jeffrey Marsh as chief business development officer. The company emphasized Marsh’s addition further demonstrated Millennium’s commitment to current and future clients through the continued strengthening of its leadership team with Steve Todd serving as senior vice president […] [Read More]

For the past four years, Auto Remarketing has published a magazine each February that recognizes the best-selling certified pre-owned dealers in the U.S. Essentially, the top 10 CPO dealers for each participating program (based on the previous year’s sales) are recognized. Bill Luke Chrysler Jeep Dodge & Ram did not make its automaker’s top 10 […] [Read More]

CUNA Mutual Group recently told attendees during the sixth annual Discovery Conference about the five primary elements credit unions must address if they plan to originate more vehicle installment contracts with subprime borrowers. CUNA Mutual Group director of loan growth products Steve Hoke pointed out that millions of subprime borrowers are entering the market for […] [Read More]

Without necessarily having to be too aggressive with underwriting to consumers lower down the credit spectrum, Ally Financial emphasized that it remains on track to reach its goal for originations this year despite the headwinds of not collecting as much business from direct relationships with General Motors and Chrysler. The objective of hitting $40 billion […] [Read More]

DocuSign and Visa recently showcased a new proof-of-concept that is geared to bring together secure contracts and payments made online via connected vehicles. The DocuSign demo highlights how consumers can drive a vehicle off the lot in a matter of minutes after securely signing all documents and paying electronically right from the driver’s seat. The […] [Read More]

Group 1 Automotive, like many of its peers in the dealer group world, has seen used-vehicle volumes continue to blossom. Or as one analyst put it during the retailer’s recent quarterly earnings conference call, it seems the used volumes for dealers may still have more room for “acceleration” than the new-car side. A big part […] [Read More]