National Auto Acceptance Corp. recently announced a subprime/deep subprime point-of-sale program offered to independent and franchised dealerships throughout Ohio. The company explained its program can help dealers capture customers with poor credit, past bankruptcies or repossessions, as well as and first-time buyers. “The company does have plans to grow their footprint to other states, and […] [Read More]

The Government Accountability Office — the audit, evaluation and investigative arm of Congress — recently completed an audit of the Consumer Financial Protection Bureau’s fiscal years 2013 and 2012 financial statements. GAO officials said they identified two significant deficiencies in CFPB’s internal control over financial reporting as of Sept. 30, 2013. Specifically, GAO found that […] [Read More]

The American Bankruptcy Institute recently tapped Brian Shaw of Shaw Fishman Glantz & Towbin of Chicago to be the organization's president for a one-year term. Shaw takes over for Patricia Redmond of Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson of Miami. ABI’s board of directors announced its decision during the annual spring meeting late last […] [Read More]

April’s used-vehicle sales numbers backed up assertions that the economy is generally on a positive path and finance companies can leverage the situation into profits down the road. According to CNW Research, used-vehicle sales in April to deep subprime buyers — customers with FICO scores below 500 — jumped by 19 percent year-over-year and climbed […] [Read More]

In an overall used-car market that was 3.65 percent stronger than the one in April 2013, sales of vehicles ages 1 to 5 were especially “hot” last month, according to CNW Research. And likely not coincidentally, certified pre-owned sales jumped nearly 10 percent year-over-year in April, data from Autodata Corp. indicates. CNW said there was […] [Read More]

Though diesel vehicles might not be considered environmentally friendly by all, the bottom line is, they are more fuel-efficient than there gasoline counterparts. And as fuel efficiency becomes more and more of a concern for shoppers, the Environmental Protection Agency said that diesel vehicles are making a bit of a comeback in the U.S. after […] [Read More]

Even as liability proceedings regarding the automaker’s ignition switch recall unfolded Friday afternoon in a U.S. Bankruptcy Court in Manhattan, analysis from both Kelley Blue Book and Edmunds.com show that shoppers don’t appear to be shying away models from General Motors. New survey data of Kelley Blue Book website users indicated only 5 percent of […] [Read More]

In a Kelley Blue Book analysis released late last month that pointed to April being “another solid month” for the new-car market, KBB senior analyst Alec Gutierrez attributed some of the sales strength to enticing lease deals. Along with “rising consumer confidence and improving employment conditions,” Gutierrez said in the April 28 report that new-car […] [Read More]

AutoNation reported that April’s sales performance in its new-vehicle department produced the best figure for the fourth month of a year since 2006. The dealer group reported to automakers retail sales of 25,669 new vehicles in April, an increase of 14 percent year-over-year. On a same-store basis, AutoNation generated 24,955 retail new-vehicle unit sales in […] [Read More]

There were 193,091 certified pre-owned sales in April, according to Autodata Corp., which said this was a 9.5-percent improvement over year-ago figures. Through the first four months of the year, dealers have sold 744,861 certified units, which beats the year-ago sum by 10.5 percent. Asian automakers sold 91,027 CPO cars in April, which marked a […] [Read More]