The latest update of an ongoing TransUnion study showed consumers continue to place an emphasis on paying their auto loans before their mortgages and credit card payments — and by a wide margin. TransUnion contends this trend has been in place since at least 2003. Ezra Becker, co-author of the study and vice president of […] [Read More]

Results of the latest Regulatory & Risk Management Indicator for the U.S. banking industry issued this week by Wolters Kluwer Financial Services indicated U.S. banks and credit unions are carrying a much heavier regulatory and risk management burden than they were a year ago. Officials explained the indicator began with a baseline score of 100 […] [Read More]

Since Credit Acceptance Corp., is planning to purchase up to 637,420 shares of its outstanding common stock later this month, the company offered some operating results for the two months of the year as the industry navigated through the peak of tax season. Credit Acceptance reported this week that the company enjoyed an 18.1-percent jump […] [Read More]

This week, Consumer Portfolio Services announced the closing of its first term securitization of the year. The transaction is CPS’ 12th senior subordinate securitization since the beginning of 2011. In the transaction, qualified institutional buyers purchased $180 million of asset-backed notes secured by automobile receivables purchased by CPS. The sold notes, issued by CPS Auto […] [Read More]

Making a trio of senior leadership announcements, KAR Auction Services said Thursday afternoon that it has created a chief operating officer position that will be filled by Don Gottwald, who has been chief executive officer of KAR subsidiary Automotive Finance Corp. since 2009.  John Hammer, who has been president and COO of AFC since 2013, […] [Read More]

If there is going to be any impact on the wholesale values of models included in General Motors’ recent ignition-switch recalls, it will likely occur either this week or next, NADA Used Car Guide’s Larry Dixon told Auto Remarketing in an interview Thursday afternoon. If it doesn’t happen during this time frame, it likely won’t […] [Read More]

The role of ringman is vital to the auction sales process, and fleet services provider ARI has publicly recognized two such employees with its Ringman of Distinction Award. The award from ARI, which recognizes the outstanding contributions of ringmen at various vehicle auctions, was recently presented live in the auction lanes to Art Mecias of […] [Read More]

RouteOne Canada announced recently it has completed integration with CU Dealer Finance Corp. — a Saskatchewan-based network of Credit Unions touting a large dealer network across the area. What does this mean for dealer customers? Now, CU Dealer Finance Corp. dealers will be able to send credit applications electronically through the RouteOne Canada platform, as […] [Read More]

Andrew Lennox — general manager of Pfaff Volkswagen in Newmarket, Ontario — is already a familiar name with readers as he was featured in the January/ February issue of the Auto Remarketing Canada Digital Magazine. Now, Lennox is back as the 2014 Auto Remarketing Canada Dealer of the Year. Chosen by Auto Remarketing Canada staff […] [Read More]

The 2014 Auto Remarketing Canada conference wrapped up on Tuesday evening after two days of networking, innovative workshops, panels and more. With over 600 attendees — more than 40 percent of whom were dealers — the opportunities to make lasting and beneficial business relationships were abundant. On top of an impressive number of dealers, our […] [Read More]