Credit Acceptance Corp. recently completed $385.0 million in asset-backed non-recourse secured financing. Pursuant to this transaction, Credit Acceptance contributed loans having a net book value of approximately $481.4 million to a wholly-owned special purpose entity that will pledge the loans to institutional lenders under a loan and security agreement. Executive highlighted this financing will: • […] [Read More]

CreditMiner, the solution provider that pre-qualifies and pre-screens consumers on Experian, TransUnion and Equifax credit bureau platforms, recently added a former Equifax executive to its leadership team. Garth Cappy, former director of dealer enterprise relationships for Equifax, joined the CreditMiner as vice president of credit services for North America, overseeing the North American credit services […] [Read More]

How digital is the auto retail environment becoming? Consider this: OEMs are likely to launch approximately 100 new digital stores globally in 2016, says Lisa Whalen of Frost & Sullivan. In the firm’s 2016 Global Automotive Outlook webinar this past Tuesday, Whalen — a vice president and business unit leader with the company — shared a few trends […] [Read More]

LeasePlan USA recently announced the hiring of a new region sales vice president of national accounts. Bringing over 15 years of fleet industry experience to the position is Melissa Cook, who most recently served as the district sales manager for Supreme Corporation. In the new position, Cook will be serving the Northwest and Midwest regions, […] [Read More]

AutoHook, powered by Urban Science, recently partnered with Carfax where individuals shopping for used vehicles on Carfax.com will now receive extra incentives from select dealers to visit their showrooms for a test drive. The partnership includes the integration of AutoHook’s incentive solutions into the vehicle details pages of Carfax Used Car Listings. The program is […] [Read More]

Central Auto Auction will have completed its 10th year of operation this month, having opened its doors on Feb. 28, 2006. The auction, which currently offers roughly 400 vehicles per week via its three lanes (with a fourth on the way), hosts about 200 bidders each week. Peter Saldamarco, the auction’s founder and president, reflected on the […] [Read More]

Asbury Automotive Group announced Friday it has broke ground on a new Nissan dealership in Georgia. The new store is located in Cumming, Ga. which the dealer group said is a “high-growth” Atlanta suburb. The store is scheduled to open late this year at 1301 Buford Highway. The facility will feature a 45,000-square-foot building, 20 service […] [Read More]

It’s a scenario perhaps not too uncommon to many finance company executives. They determined one of their key employees is incapable or unwilling to succeed with the company. To illustrate why it’s important to focus on six root factors that drive search success, Automotive Personnel founder Don Jasensky shared a case study about how a […] [Read More]

This week, Dominion Dealer Solutions introduced what it’s calling My Payment for dealerships nationwide. Dominion’s My Payment is a suite of tools designed to drive more leads from dealership websites by giving shoppers “real answers” to their payment questions. The company explained the application embedded in the dealership’s website can move consumers deeper into the […] [Read More]

Southern Auto Finance Co. recently appointed Chris Shelley as vice president of collections at the subprime auto finance company’s collections center located in Orlando, Fla. Shelley has more than 19 years of progressive leadership experience in operations and collections, “and we expect that he will bring a new vision and results-driven focus to our collections […] [Read More]