Subprime auto finance company Exeter Finance Corp. on Monday selected the UP Bill Payment Solution offered by ACI Worldwide, a global provider of electronic payment and banking solutions. It’s a move both companies said is meant to simplify multiple bill payment services and dramatically reduce payment processing costs. After embarking on a broad technology search […] [Read More]

EFG Companies, together with the National Association of Minority Automobile Dealers (NAMAD), selected the recipient for their first Northwood University private donor scholarship on Monday. This NAMAD scholarship will fund the remainder of four-year tuition for Javante Dilworth while he attends the automotive management program at Northwood University, representing an investment of up to $100,000 […] [Read More]

With new survey reports showing independent dealers are fearing a significant decline in customer traffic, Equifax is offering new tools for members of the National Independent Automotive Dealership Association and National Alliance of Buy-Here, Pay-Here Dealers to create what company executives are calling a “transparent environment” for customers with checkered credit backgrounds. BHPH dealers who […] [Read More]

Check the time and the status of salvage vehicles. That’s what Insurance Auto Auctions is offering as the company recently launched the IAA Buyer Watch App, an application customized for the Apple Watch. Officials highlighted the app can enable buyers to view the status of their vehicles in the bidding process through notifications on their […] [Read More]

Cross-Sell Reports has launched its Cross-Sell Interactive tool in Illinois, and will now provide interactive market reports for dealers there. CSI’s features include customizable charts and graphs which allow users to create personalized dashboards with key metrics and areas of interest. This is Cross-Sell’s first offering of market analysis, statewide dealer and lienholder summaries and MarketingINTEL reporting […] [Read More]

A securitization presale report from Standard & Poor’s gave a glimpse as to what the interaction between Westlake Financial Services and the Consumer Financial Protection Bureau has been like dating back more than a year. The report based on information as of June 12 indicated that the CFPB is considering legal action against Westlake for […] [Read More]

CarMax announced first-quarter results for the start to its 2016 fiscal year, reporting another record quarter for sales and earnings. With net sales and operating revenues increasing by 7.1 percent to $4.041 billion, it is apparent the retailer — which was recently featured in our Top 100 Independent Dealers issue — had a robust start to […] [Read More]

While dealership management emphasized this week’s settlement with the New York attorney general “acknowledges no admission of wrongdoing or liability,” Dealertrack Technologies' Randy Henrick shared his unsavory assessment of the “payment packing” possibly orchestrated by a trio of Honda stores as well as what the enforcement actions and multi-million dollar penalties could mean for dealerships […] [Read More]

For franchised and independent dealerships that use BB&T Dealer Finance, a segment of BB&T Dealer Financial Services, flat-fee compensation is coming your way. On Thursday, the commercial bank announced the launch of what it dubbed “a nondiscretionary dealer compensation program, providing a competitive automobile financing program that eliminates pricing discretion in the consumer transaction.” Officials […] [Read More]

As Consumer Portfolio Services closed its second term securitization of the year, General Motors cheered Fitch Ratings’ decision this week to raise the credit ratings of both GM and GM Financial to investment grade with the finance company’s diminishing presence in the subprime space being an element impacting the decision. With this upgrade, the corporate credit […] [Read More]