A month after making its first move with respect to interest rates in almost a decade, the Federal Reserve on Wednesday chose to pass on increasing the federal funds rate any further. The Federal Open Market Committee (FOMC) decided to maintain the target range for the federal funds rate at 0.25 percent to 0.5 percent […] [Read More]

In his State of the Union Address, President Obama gave a shout-out to the auto industry, touting its best year ever. I’ve been cautiously optimistic about the return of the auto industry, but it got me thinking — can this resurgence last? U.S. automotive sales in 2015 were the highest on record with 17.5 million […] [Read More]

The Automotive Assurance Group announced Wednesday that it has been acknowledged by Warranty Solutions as the top producing agency in the United States in 2015. AAG was honored during an awards ceremony hosted in Denver this week. "Automotive Assurance Group are leaders in the industry and have achieved great success with Warranty Solutions,” said Jason Winchester, […] [Read More]

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]