Many buy-here, pay-here dealerships originate contracts with interest rates at 20 percent and higher. It’s one of the reasons why store managers in California cheered a year ago when the governor vetoed a measure that would have capped APR at BHPH dealerships in the Golden State at 17.25 percent. However, in the middle of the […] [Read More]

If there ever was any hesitancy among women to lease vehicles, it appears that is going to change quite dramatically, according to a recent survey from Swapalease.com. The national online car lease marketplace recently conducted an online poll of 700 drivers this spring, and found women have shifted gears when it comes to leasing. The […] [Read More]

Wholesale industry veteran Tim DeBerry is getting closer to having his lifelong dream of building an auction come to fruition as Mile High Auto Auction is approaching its first sale. Mile High AA will hold sales every Tuesday at noon beginning on Aug. 6 at its newly renovated facilities at 9750 East Costilla Ave. in […] [Read More]

Two new awards will be given out for the first time at this year’s upcoming National Auto Auction Association annual convention. NextGear Capital announced the creation of two new industry awards on Tuesday that are designed to recognize independently owned auctions for their dedication to and support of the industry. They are called the NextGear […] [Read More]

Technology meets marketing in a new joint venture announced this week by AutoAlert Inc. and The Ready Group. Boyd Warner, chief executive officer of AutoAlert, made the partnership announcement, noting a joint venture with Boston-based strategic automotive marketing agency The Ready Group LLC. The new entity is called DirectAlert LLC, which company officials said will […] [Read More]

MARBLEHEAD, Mass. — This week, FinCo Management — a provider of deep subprime dealer financing — began offering its new HYBRID 50 program to dealer partners with buy-here, pay-here experience. FinCo explained that dealer partners can get funded up front to cover their cost of vehicles along with a modest profit. Then, the partners can […] [Read More]

WASHINGTON, D.C. — The American Financial Services Association released a white paper on recent state developments in issuing and releasing liens and titles on motor vehicles, including Electronic Lien and Title (ELT), electronic titling, and other lien and titling issues, such as New York's new lien release law. AFSA officials indicated at least 25 states […] [Read More]

REDWOOD CITY, Calif. — Recovery Database Network recently introduced its Compliance Dashboard and Automation Center, a tool aimed at providing lenders with a visually dynamic way to easily assess key recovery performance data and monitor recovery vendor compliance with performance standards. Integrated into RDN's recovery management software and available to subscribers at no additional cost, […] [Read More]

CENTENNIAL, Colo. — CU Direct Connect said it posted strong application and funded auto loan growth during the first half of the year. The non-profit credit union service organization aimed at providing vehicle lending and origination funding platforms utilized by credit union members and dealer partners indicated that a portion of this growth was attributed […] [Read More]

Recovery Database Network recently introduced its Compliance Dashboard and Automation Center, a tool aimed at providing lenders with a visually dynamic way to easily assess key recovery performance data and monitor recovery vendor compliance with performance standards. Integrated into RDN’s recovery management software and available to subscribers at no additional cost, the company insisted the […] [Read More]