NEW YORK — Investment research firm DBRS expects that lenders will begin to loosen credit standards to achieve growth strategies as the auto finance market continues to improve, competition increases and credit availability resumes. As a result, the firm contends these developments will likely put negative pressure on collateral performance, increasing pool delinquencies and losses. […] [Read More]

CINCINNATI — Swapalease.com highlighted this week that customer credit approvals based on U.S. bank data jumped 27.3 percent in 2012 compared with approval rates from the previous year. Most notably, the site pointed out that the last two months of last year saw significant credit approval rates jump with 55 percent more approvals in December […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE DETROIT — On Thursday, Ally Financial's board of directors declared quarterly dividend payments for certain outstanding preferred stock. These dividends are payable on Feb. 15. The company indicated a quarterly dividend payment was declared on Ally's Fixed Rate Cumulative Mandatorily Convertible Preferred Stock, Series F-2, of approximately […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE ATLANTA — Safe-Guard Products International, an F&I provider in the auto industry, announced recently it has been purchased from H.I.G. Capital by an affiliate of Goldman Sachs, in partnership with management. "Safe-Guard is excited to partner with Goldman Sachs to continue to grow its business and build […] [Read More]

Announced this week, Mercecdes-Benz Canada is honoring its top 10 performing dealers with the 2013 Star Dealer Awards. This designation was established to "recognize the achievements of the top 10 authorized Mercedes-Benz dealers in Canada, underscoring the critical role that each dealership's contributions make to the overall success of the Mercedes-Benz brand in Canada," according […] [Read More]

Revealed earlier this week, CarProof Vehicle History Reports welcomed a new senior vice president of business development. Tapped for the job is Jamie Blundell, who will be responsible for all business development activities including the company’s entrance into new verticals and customer segments, officials shared. “On behalf of all of us at CarProof, I’d like […] [Read More]

Wrapping up an impressive year for the growing certified pre-owned market in Canada, December CPO results marked records for numerous OEMs, as many ended 2012 with double-digit sales increases. One of these  brands was Honda, finishing off 2012 with a 24.1-percent year-over-year lift in CPO sales in December, as it sold  1,768 certified units. And […] [Read More]

As 2013 gets underway, demand remains strong, and prices in the lanes see little change, according to NADA Used Car Guide. Over the course of the current week, NADA UCG noted it expects used prices to “deviate little from the prior week’s relatively flat trend as AuctionNet wholesale prices remain essentially unchanged.” And officials also […] [Read More]

Swapalease.com highlighted Wednesday that customer credit approvals based on U.S. bank data jumped 27.3 percent in 2012 compared with approval rates from the previous year. Most notably, the site pointed out that the last two months of last year saw significant credit approval rates jump with 55 percent more approvals in December compared with November. […] [Read More]

It seems the new year bodes well for the lanes, as John Brasher reported a “very, very strong” sale from Brashers Sacramento Auto Auction this past Tuesday. Brasher said, “We started the year off with a bang. The sale (Tuesday) was strong; the strongest it has been (in) probably six months.” It seems dealer demand […] [Read More]