JACKSONVILLE, Fla. — Along with bolstering its executive team, MarkOne Holdings, a national automotive finance holding company already operating through regional subsidiaries serving the East Coast and the Midwest, broadened its scope this week so it can conduct lending operations in the West. Officials launched a third operation — WestMark Auto Finance — with plans […] [Read More]

ST. LOUIS and WASHINGTON, D.C. — As the agency's new Consumer Advisory Board met for the first time, the Consumer Financial Protection Bureau declared its latest study shows discrepancies between the credit scores sold to creditors, lenders and finance companies and ones sold to consumers. CFPB officials contend the study found that about one out […] [Read More]

FORT LAUDERDALE, Fla. — Offering its take on what is most important to consumers in the car-buying process, AutoUSA Internet Sales Solutions revealed Monday the availability of a free white paper for dealers. The report, titled, "Pre-Qualified Payment Marketing: Converting Online Car Shoppers to Customers," gives an "overview of the current payment marketing options offered […] [Read More]

SOUTHFIELD, Mich. — Credit Acceptance Corp. recently completed a $252.0 million asset-backed non-recourse secured financing. Pursuant to this transaction, the company said it contributed loans having a net book value of approximately $315.1 million to a wholly-owned special purpose entity that will transfer the loans to a trust. Credit Acceptance explained this trust will issue […] [Read More]

The days-to-turn rate for the Canadian used- and new-car markets climbed for the third straight month, according to the latest Automotive Market Metrics report from J.D Power and Associates’ Canadian Automotive Practice. J.D. Power found that in August — the most recent data provided — each side of the industry was between 58 and 62 […] [Read More]

Kijiji Autos recently announced its Webinar series is back on the calendar with another session. This free offering will focus on a questions many Canadian dealers might have on their minds. The online seminar is titled, “Does Social Media Sell Cars & Services?” Paul Potratz, of Potratz advertising, asserts that in fact, social networking can […] [Read More]

AutoCanada recently signed a renewal of its credit facility with HSBC Bank Canada whereby HSBC increased the availability of the existing revolving term loan from $30 million to $40 million. Officials highlighted the deal also includes an option to increase the revolver to $50 million based on credit approval of HSBC. In addition to the […] [Read More]

Could the gas spike be over? According to Energy Information Administration data, the average price of regular grade gasoline (all formulations) decreased by five cents from $3.88 to $3.83, but you wouldn’t know it by looking at the prices in the lanes. NADA Used Car Guide predicted that prices for gas guzzlers are once again […] [Read More]

As one Japanese brand earned both the used- and new-vehicle top spots within Kbb.com's latest rankings of most-researched models, the industy as a whole has been surging, according to auto analysts. And that includes both used- and new-vehicle sales for September. With CNW predicting that used sales will reach 3.49 million units for this month,  […] [Read More]

Copart is pleased that  not only is it posting salvage volume gains — thanks in part to an exclusive contract with a major car insurance carrier — but the company is also maintaining a targeted ratio in relation to its non-salvage business, too. When discussing its 2012 fiscal year on Wednesday, chief financial officer Will […] [Read More]