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]

Though August incentives were down from July levels, allowances sit far above rates seen last year. But industry analysts assure dealers that incentive spending levels pose no threat to the business yet. Kelley Blue Book analysts reported high incentives are not causing damage to used values back in mid-August. And after reporting a 9.3-percent year-over-year incentive […] [Read More]

Lease marketplace Swapalease.com suggested American dealers look north when considering how to improve their leasing services. With Canada’s historically high leasing rates, Swapalease — which works with customers in both countries — noted some interesting differences in how lease programs are structures, including transfer of ownership, and contends it would serve U.S. dealers well to take […] [Read More]

There was a small concentration of vehicles that GE Capital Fleet Services found challenging to sell earlier this year.  So, in response, the company launched an incentive package for its online wholesale buyers, through which if a buyer purchased three of those vehicles, he or she would receive a buyer’s fee discount that GE Capital […] [Read More]