Westlake Financial Services announced a major update to the DealerCenter website, which is operated by Nowcom Corp., Westlake's sister company under the Hankey Investment Group umbrella. DealerCenter is the business portal that houses Westlake's proprietary Buy Program software as part of a full-fledged online DMS solution. [Read More]

CARY, N.C. — Print subscribers should notice SubPrime Auto Finance News having a significantly different look when the first print edition of 2013 arrives. Marking the first large redesign of the print edition since being launched seven years ago, management spent a significant amount of  time considering considering many options to make the publication the […] [Read More]

IRVINE, Calif. — Consumer Portfolio Services this week announced the closing of its fourth term securitization of the year. Officials said the transaction is CPS' seventh senior subordinate securitization since 2011. In the transaction, qualified institutional buyers purchased $160 million of asset-backed notes secured by automobile receivables purchased by CPS. The sold notes, issued by […] [Read More]

OVERLAND PARK, Kan. — NCM Associates hired four new associates to serve its retail automotive clientele, including the franchised and buy-here, pay-here dealer segments. Joining the company as executive conference moderators for the 20 Groups division under Kevin Cunningham are Paul Kechnie, Joe Basil and Gene Daughtry. The company said Steve Hall has joined the […] [Read More]

JACKSONVILLE, Fla. — FIS recently announced that VW Credit will deploy FIS' AutoSuite automotive finance solution for its North American loan and lease processing. Officials also highlighted VW Credit will deploy FIS' Default Manager solution for customer service, collections and remarketing, as well as TouchPoint Sales and Marketer for customer relationship management. FIS said it […] [Read More]

Looking back at November, Canadian new-vehicle sales numbers soared, while used prices continued to rise. According to data from RVI Group, used-car prices this past month climbed by 2.3 percent from October, and 3 percent year-over-year. On the other hand, the ADESA Canada Used Vehicle Price Index was down this past month, reversing the majority […] [Read More]

As the holidays approach, it seems wholesale prices have calmed down a bit after a recent spike following Hurricane Sandy. According to NADA Used Car Guide, overall wholesale prices are expected to remain flat this week at an average of $14,300. The organization also shared that price movement this week is expected to remain largely […] [Read More]

On the same day Ally Financial said it repaid debt to the FDIC, General Motors announced on Wednesday that the automaker will purchase 200 million shares of GM common stock held by the U.S. Department of the Treasury for $5.5 billion, or $27.50 per share. The share buyback is part of the Treasury’s plan, also […] [Read More]

Manheim shifted Jay Cadigan into a new executive role on Wednesday. To advance its business goals, continue to build relations with industry partners and develop strategies that further the remarketing industry, Manheim named Cadigan vice president of industry relations. In this new role, Cadigan will report to Joe George, senior vice president of product development. […] [Read More]

The National Highway Traffic Safety Administration said Hyundai is recalling certain versions of the 2012 Veloster in separate campaigns to correct an issue with the sunroof as well as the parking brake. The larger of the two recall notices is for a total of 13,500 Velosters manufactured from Nov. 1, 2011 through April 17 and […] [Read More]