For Bill Luke Chrysler Jeep Dodge & Ram, the additional investment in reconditioning and getting its inventory retail-ready and qualified for certification is well worth it. Jody Knaub — the dealership’s used-car director — emphasized the high expectations consumers often have for conditions of used cars, which can impact the level of investment that’s made […] [Read More]

Steve Klees sees motorcycles and other powersports equipment sitting at dealerships and can’t help but think there are possibly scores of potential subprime buyers for those items if more finance companies chose to delve into that market. Klees, who is the senior vice president of specialty channels with EFG Companies, explained his thinking to SubPrime […] [Read More]

A new TransUnion analysis found that the reporting of rental payment information to the credit bureaus in a manner similar to other financial obligations could have a positive effect for the majority of subprime consumers' credit. Analysts found the subprime segment of the population, those consumers who may be viewed as higher credit risks, could […] [Read More]

For both dealers and finance companies, the cost of being compliant is on the rise. Recent reports and reprimands are giving concrete financial figures to what making installment loans attached to vehicles entails nowadays. Before getting into those numbers, Rick Hackett touched on the reason why compliance is such an important — and consequently costly […] [Read More]

Beyond the metrics about originations, collections and other figures associated with vehicle financing, the 2014 member survey orchestrated by the National Automotive Finance Association highlighted just how important Millennials are to the present and future of the industry. During his presentation at the 18th annual Non-Prime Auto Financing Conference, George Halloran discussed at length this […] [Read More]

According to the most recent study from the Federal Reserve, the average new-vehicle loan in the U.S. stands at more than $26,700 with a loan to value ratio of a huge 80 percent. So the volume of payments which are there to be collected is vast. Auto finance companies from huge captives down to smaller […] [Read More]

ACA International, the Association of Credit and Collection Professionals, recapped a recent decision by the Ninth Circuit Court of Appeals that determined a consumer had standing to assert claims based on collection letters he did not receive. Officials explained the court arrived at its decision because the alleged violation of the plaintiff’s statutory right not […] [Read More]

Manheim and the National Independent Automobile Dealers Association took time at the annual NIADA Convention and Expo last week to recognize a dealership for its dedication to its community. This past week, Manheim and NIADA presented the fourth annual NIADA Manheim National Community Service Award to Members Auto Choice of Suwanee, Ga. Tim McKinley, senior […] [Read More]

Chrysler Group is expanding a previous safety recall “out of an abundance of caution” to correct ignition switches in minivans and SUVs. The automaker said today that it wants to install a more robust WIN module detent ring. A previous recall in 2010 included 196,000 Chrysler Town & Country, Dodge Grand Caravan and Dodge Journey […] [Read More]

Once June figures are tallied, it’s likely that year-to-date used-vehicle sales through the midpoint of 2014 will once again have eclipsed 20 million units, according to CNW Research. In its latest Retail Automotive Summary, the firm was predicting monthly used-car sales to come in just under 4.5 million, which would push the six-month total to […] [Read More]