This week, EFG Companies and the National Association of Minority Automobile Dealers established an annual, private donor scholarship that will fund the four-year tuition of a minority student attending the automotive marketing and management program at Northwood University.  Officials highlighted the annual scholarship, funded by EFG Companies, will be awarded each year to a freshman […] [Read More]

Exeter Finance Corp. announced this week the pricing of a $500 million securitization backed by auto loan receivables.  The company indicated the private offering consisted of four classes of fixed rate notes issued by Exeter Auto Receivables Trust 2014-3 and priced on Oct. 9. Exeter highlighted the Class A notes were rated AAA/AA by DBRS […] [Read More]

Consumer Portfolio Services posted gains of more than 20 percent in both earnings per diluted share and revenue during the third quarter. The finance company bought more paper in Q3 compared to previous time frames and watched delinquencies and charge-offs rise only marginally. As a result, CPS chairman and chief executive officer Brad Bradley said […] [Read More]

If your business uses Penske Truck Leasing to transport vehicles, you now utilize a company who is an Affiliate in the Canada SmartWay Transport Partnership. The SmartWay program, created by the United States Environmental Protection Agency, is administered by Natural Resources Canada. The program was launched back in 2004 to help businesses ramp up the […] [Read More]

Curbsiding — something you don’t have to worry about as a licensed dealer? Wrong. The Ontario Motor Vehicle Industry Council recently issued a bulletin that warns dealers against supplying curbsiders, because you may be held accountable. Take this situation for example: A London, Ontario, dealer was recently convicted of supplying vehicles to a curbsider. The […] [Read More]

Wholesale prices started falling at a more rapid pace in September, with all segments seeing prices decline except for two: luxury cars and midsize cars. The Manheim Canada September index was down last month, falling by almost three points from August’s reading of 92.6. The decline also marks a 1-percent drop from September 2013. Luxury […] [Read More]

Twitter: It ain’t just for hashtagging your favorite pumpkin-spice whatever or Grumpy Cat pictures.  That’s right, perhaps one of the most important uses of Twitter this fall, at least for folks in the used-car business, is the #DealerChat from your friends at Used Car Week. After a successful debut #DealerChat hosted by Equifax last week, […] [Read More]

The National Auto Auction Association announced this week that it has increased funding for its Warren Young, Sr. Scholastic Foundation, to be used for its annual merit scholarships, by $1,000. The new total funding amount, $52,000, will continue to help allow the nonprofit organization to give scholarships for both full-time and part-time students pursuing education […] [Read More]

Just before Thanksgiving arrives and the holiday season cranks up in earnest, the National Alliance of Buy-Here, Pay-Here Dealers is giving veteran operators as well as professionals who want to close 2014 by learning more about the industry the chance to see all elements of a thriving operation in action. NABD's next BHPH Boot Camp […] [Read More]

The board of directors for the National Automobile Dealers Association has elected its 2015 chairman. Chosen for the post during the board’s annual meeting in Scottsdale, Ariz., is Bill Fox, who is currently NADA’s vice chairman and also represents New York’s franchised dealers on NADA’s board.  He is a partner in Fox Dealerships, which includes […] [Read More]