Indirect auto finance company Flagship Credit Acceptance recently completed an asset-backed securitization of $222 million of notes issued in four tranches and assigned ratings by Standard & Poor’s Ratings Services and Kroll Bond Rating Agency. The development marked the company’s second asset-backed securitization. Flagship also announced the recent completion of a new $100 million senior […] [Read More]

Along with a perceived lack of transparency at the Consumer Financial Protection Bureau, rumblings about how many closed-door sessions are conducted by another regulatory body established by the Dodd-Frank Act now are percolating on Capitol Hill. Rep. Scott Garrett, member of the House Budget Committee and chairman of the Financial Services Subcommittee on Capital Markets […] [Read More]

Carfinco Financial Group announced first-quarter results this Wednesday that showed growing auto loan originations as well as rises in net earnings. The first quarter of fiscal 2014 has been a positive one for Carfinco, said company management, as the company reported a 5.5-percent increase in net earnings and $1.1 million of growth in the finance […] [Read More]

General Motors now is well above the 5-million mark for the number of recalled vehicles so far this year. The automaker said Thursday it has informed the National Highway Traffic Safety Administration of five safety recalls covering about 2.7 million vehicles in the United States. The latest recalls involve: — 2,440,524 previous generation passenger cars […] [Read More]

You can’t secure a traditional consumer lease from Tesla. But the company did recently introduce its new Resale Value Guarantee program  that offers a similar deal. The program offers to buy back a Model S between 36 months and 39 months at a guaranteed residual. According to Tesla officials, "When combined with a car loan […] [Read More]

With recalls making headlines in a big way so far this year, officials both in Washington, D.C., and California are pushing for more regulation of automakers and dealers to enhance the process for repairing recalled vehicles and to keep units regulators deem to be unsafe off of the road. Included in the Grow America Act […] [Read More]

The six fastest-turning used-vehicle brands for franchised dealers in the first quarter were all from Japanese automakers, who have an overall lead over their Big 3 and fellow import brand counterparts in terms of days-to-turn in the pre-owned market. But despite this, says Edmunds.com, the biggest improvements in used-car turn rates for franchised dealers over […] [Read More]

Ally Financial has recognized top performing auctions for 2013 with the SmartLane Auction of the Year Award and the SmartAuction Mid-Stream Auto Auction of the Year Award. Announcing the winners this week, Ally said top honors for its SmartLane performance went, for the second consecutive time, to ABC St. Louis Auto Auction of East St. […] [Read More]

Insurance Auto Auctions has announced the opening of a new branch, a facility the company says is essential to its continued growth across North America. With an official grand opening held on May 6, IAA's new state-of-the-art, 32-acre auction facility is located in Tulsa, Okla. The facility includes a 10,000-square-foot building and will utilize 17 […] [Read More]

In a list that could prove to be an additional selling point for dealers trying to move used cars with budget-conscious shoppers, AutoTrader.com released a list of what it considers to be the strongest pre-owned options for under $20,000. The list of the 10 deals, which was published Wednesday, is quite diverse, spanning nine different […] [Read More]