NASHVILLE, Tenn. — Primeritus Financial Services announced the sale of two of its subsidiaries last week. Officials confirmed that Primeritus sold Repossessions Unlimited operating in Florida and Extreme Recovery in California.   In the first transaction, Chris Fazio purchased Primeritus' ownership in Repossessions Unlimited. As sole owner of Repossessions Unlimited, officials said Fazio will continue to […] [Read More]

It’s not just that the expectation that more vehicles will be coming out of leases this year. What also bodes well for increased off-lease volume at the auction is the economics of it all, says ADESA’s Tom Kontos. Bottom line: dealers could be able to get their hands on more off-lease vehicles this year at […] [Read More]

Used supply may be improving, but the inventory situation for many used dealers is still a cause for concern and will most likely remain so during 2013. In light of this, industry experts offered their tips for how dealers should best capitalize on improving pre-owned supply. “Many dealers won’t need to change a thing.  Their […] [Read More]

According to the J.D. Power and Associates 2013 U.S. Customer Service Index (CSI) Study released earlier this week, overall customer satisfaction with service at a dealer facility has increased to 797 (on a 1,000 point scale), up significantly from 787 in 2012. And the study found that buyer loyalty is directly connected to a dealership’s […] [Read More]

Honda said Thursday it will recall more than 180,000 vehicles in the U.S., and almost 250,000 worldwide, for a problem with select vehicles’ electronic stability control system. The issue, that involves Honda Pilot, Acura RL and Acura MDX vehicles in the U.S., could cause the car to brake when the driver isn’t pressing the brake […] [Read More]

EasyCare, the national administrator for CarMark Certified and other owner benefit programs, teamed with Automotive Development Group Thursday to become a platinum level premium partner for 2013 of the North Carolina Automobile Dealers Association. NCADA highlighted that it offers North Carolina dealers the opportunity to join together to receive the best benefits for the best […] [Read More]

STAMFORD, Conn. — This week, VantageScore Solutions — the company behind the VantageScore credit scoring model – rolled out its newly constructed credit scoring solution, VantageScore 3.0. The company highlighted the new model provides up to 25 percent predictive improvement over earlier models and has the ability to formulate a score for 27 to 30 […] [Read More]

CARY, N.C. — You might have already noticed the new look SubPrime Auto Finance News unveiled to begin this year. The graphic design team created a new look that's fresh and crisp to enhance the information and analysis you've come to expect. With the latest issue comes the next step in the magazine's new developments […] [Read More]

NEWARK, Calif. — Nowcom Corp. and PayPros announced new integrated payment functionality within DealerCenter this week. Officials highlighted the payments solution from PayPros and Nowcom now can allow dealerships to run their entire operations from a single program. They explained DealerCenter is a full-featured automotive dealer solution, enabling these businesses to manage, sell and advertise […] [Read More]

HANOVER, Md. — With more buy-here, pay-here dealers considering leasing activity, the National Vehicle Leasing Association put together a special educational track focused on the lease-here, pay-here industry for its annual conference next month. The comprehensive day-long program on the LHPH business is being offered on April 23 at the NVLA's "Road to Success" Conference. […] [Read More]