The National Highway Traffic Safety Administration urges owners of more than 4.7 million vehicles originally manufactured by Toyota, Honda, Mazda, BMW, Nissan and General Motors to act immediately on recall notices to replace defective Takata airbags. Federal officials stressed that their message comes with added emphasis, especially for owners of vehicles affected by the regional […] [Read More]

Since regulatory arms such as the Consumer Financial Protection Bureau turned their sites on the automotive business, NIADA — like many in the industry — has made compliance top of mind. Steve Jordan, executive vice president of the National Independent Automobile Dealers Association, explained that dealer education is one of the association’s big focuses these days. […] [Read More]

The State Government Affairs Committee of the American Financial Services Association recently published a white paper detailing how state regulators and attorneys general are beginning to use their new regulatory powers to bring actions against persons allegedly engaged in unfair, deceptive or abusive acts or practices (UDAAP) in connection with financial products and services. Officials […] [Read More]

About a month after General Motors and General Motors Financial worked out a credit accessibility deal to help the finance company expand its portfolio, the parent automaker executed a revolving credit facility that could help the finance company, too. Late last week, GM announced the execution of an unsecured $12.5 billion revolving credit facility consisting […] [Read More]

The U.S. may at last be pulling out of recession. But there are still headwinds, not least of which emanate from Washington, D.C., as the seemingly intractable gridlock in Congress is doing nothing to reduce uncertainty in the domestic markets. This impacts all businesses and entrepreneurs, and the equipment and auto finance and leasing markets […] [Read More]

SubPrime Auto Finance News has revealed the recipient of this year’s SubPrime Auto Finance Executive of the Year award, an honor sponsored by Black Book Lender Solutions. The accolade is going to Ian Anderson, president of Westlake Financial Services, which reached $2 billion in total receivables earlier this year. Sparked by the some of the […] [Read More]

String Automotive announced today the addition of several members to its Dealership Positioning System, the company’s dealership intelligence platform. The new members include Moore and Scarry Advertising, Pinnacle Advertising & Marketing Group, and Omni Advertising. String’s DPS assists members of its partner program to link up to better serve dealers by providing immediate feedback on […] [Read More]

Get compliant and stay compliant. It’s the regulatory chorus buy-here, pay-here operators have seen and heard if they’ve read any previous issues of BHPH Report, attended an industry event or traded war stories with fellow dealers. The managers of AutoTrader.com’s new Buy-Here, Pay-Here Center aren’t trying to add more noise to the compliance discussion, but […] [Read More]

New-vehicle leasing is rising to record levels. Experian Automotive pegged it at 25.6 percent of all new-model transactions in the second quarter. Granted, the typical customer who comes to a DriveTime Automotive dealership — or many buy-here, pay-here stores for that matter — probably wouldn’t qualify for a new vehicle lease from a captive finance […] [Read More]

Pick a positive area for growth, and J.D. Byrider vice president of franchise sales Jack Humbert will tell you it’s on an upward trajectory. Late this summer, the company added three executives to its franchising team at its corporate headquarters. J.D. Byrider currently has 161 dealerships in 33 states, having just broadened its footprint into […] [Read More]