Certified pre-owned sales were steady in August, and three automakers reported their best August for certified sales ever. First up, Porsche Canada reported a record month, posting the highest CPO sales for August ever. Porsche Approved certified pre-owned sales reached 96 units last month. Audi Canada, who continued to see CPO sales soar by double digits […] [Read More]

Coming off a quarterly performance where the finance company’s total originations of loans and leases jumped higher than any quarterly figure the company posted in the past year, General Motors and General Motors Financial entered into a support agreement on Thursday, reaffirming what executives described as the critical role GM Financial plays in the parent […] [Read More]

The Russ Darrow Group announced this week the acquisition of Amato Mazda in northwest Milwaukee. The inventory from Amato Mazda will be relocated to an all-new Russ Darrow Mazda Milwaukee, expanding the Russ Darrow family in the area, according to the group’s president, Mike Darrow. “With the addition of this new Mazda dealership, we will […] [Read More]

National Auto Care Corp., an administrator of vehicle service contract and ancillary programs including CarMark Certified, announced the appointment of new vice president of actuarial and product. Tapped to lead the pricing activities for NAC including new product development and the enhancement of existing products is Tim Burgess, who is an associate of the Society […] [Read More]

Several of Manheim’s Northeastern locations from Philadelphia to Albany, N.Y., provided their time and support to various Ronald McDonald Houses in their areas over the summer. More than 20 of the company’s members participated in the over-40-year heritage of the Ronald McDonald Houses, giving support to families of injured and ill children. The teams gathered […] [Read More]

The outlook for potential certified pre-owned inventory that dealers will need in 24 to 36 months just keeps getting more favorable. The latest: Experian Automotive determined the percentage of new vehicles moved by franchised dealers and connected to a lease hit a new record during the second quarter. According to its latest State of the […] [Read More]

Ally Financial launched a new tool this week to help consumers decide whether buying or leasing might be their best option when shopping for a vehicle. Available for free on Ally’s website, the company explained the interactive buy or lease tool can help arm consumers with the right information to start the vehicle-financing process. The […] [Read More]

Western Funding is now active on DealerCenter. Executives highlighted this integration makes Western Funding’s financial products more accessible to dealerships by offering instant approvals and the ability to change the structure of the deals to meet customers’ needs.  “We're excited to partner with DealerCenter to offer 24/7 instant approvals,” Western Funding president Guerin Senter said. […] [Read More]

On Tuesday, Hudson Cook added two nationally recognized collections attorneys as partners to support the firm in creating a new practice group. That Hudson Cook segment will focus on lender oversight and regulatory compliance for third-party debt collectors, debt buyers, collections law firms and creditors collecting their own debts. The two newest partners are Gary […] [Read More]

Finance companies’ appetite for subprime risk appears to be waning, judging by the softening trends Experian Automotive shared on Wednesday. According to its latest State of the Automotive Finance Market report, Experian determined that the percentage of new-vehicle loans to subprime and deep subprime borrowers began to level off in the second quarter. The percentage […] [Read More]