Westlake Financial Services announced this week that it closed its fifth term asset backed securitization (ABS) on May 28 in a bond offering increased from $275 million to $321 million due to significant investor demand.  The company highlighted five classes of bonds were offered, ranging from A1+ to BBB. Westlake also noted all were at […] [Read More]

During a free webinar set for Thursday, Dealertrack Technologies associate general counsel Randy Henrick plans to revisit a topic he’s often discussed with SubPrime Auto Finance News. Henrick will explain why he believes the Federal Trade Commission is intensifying its pursuit of dealers engaging in deceptive advertising activity. During the session, Henrick will provide examples […] [Read More]

Back in March, Consumer Financial Protection Bureau director Richard Cordray referred to complaints as the agency’s “compass,” because these consumer statements “make a difference by informing our work and helping us identify and prioritize problems for potential action.” If policy changes the CFPB suggested this week come to be, Cordray and the rest of the […] [Read More]

As analysts predict that expanding off-lease volume will start pushing downward on used-car prices at a more rapid pace in the second half of the year, auction prices are expected to continue falling this week. According to NADA AuctionNet data, wholesale prices are expected to drop by an average of 0.5 percent or $75. David […] [Read More]

Success in buy-here, pay-here is frequently measured by how many vehicles a dealer sells each month or year. Although sales are important, this commentary will focus on other areas which are important to BHPH success. “Keeping them sold” is important to long-term success and requires good underwriting and collections, efficient systems and processes, a cash […] [Read More]

Canadian dealers have heard rumors of expanding used supply for a few years now, but the process has been slow. According to the latest Canada Industry Report from ALG, more used units are set to begin flowing in — but again, it will not happen overnight. ALG predicts that between this month and July 2018, […] [Read More]

The well-known blue-and-white Hyundai dealership look will soon be a thing of the past. Hyundai Auto Canada Corp. announced this week that it has begun to adopt Hyundai’s new Global Dealership Space Identity initiative. The redesign, which will start with all new dealerships being built worldwide and progressively update existing dealerships, starts with a major […] [Read More]

Both second quarter and first-half used-vehicle sales for AutoNation beat year-ago figures, but the improvements in used-car gross profits per vehicle were even more impressive. AutoNation moved 52,565 used retail units in Q2 for a 1.0-percent year-over-year gain, and it sold 104,792 used retail vehicles through six months of the year, which beats the year-ago […] [Read More]

Pfaff Automotive Partners is bringing a new brand to Canada. The dealer group announced today it is the exclusive Canadian importer and dealer of the Italian sport brand Pagani.   The exotic brand, Pagani Automobili S.p.A., got its start in 1992 by Argentinian, Horacio Pagani and is based in Italy. "We are proud to bring […] [Read More]

Jerry’s Auto Group in Maryland is joining forces with the local Muscular Dystrophy Association Chapter next week for an inaugural golf classic to help those living with the condition. Scheduled for Monday at Hayfields Country Club in the Hunt Valley area of Baltimore County, Md., the golf event will include the dealership group along with […] [Read More]