The General Motors Foundation revealed late last week it is giving a $1 million grant to Habitat for Humanity International in an effort to help with neighborhood revitalization efforts in 12 U.S. cities. The grant was presented Thursday by the Foundation president and GM director of corporate relations Vivian Pickard during the Washington Auto Show. [Read More]

BANDON, Ore. — CNW Research said the number of subprime buyers in January soared nearly 60 percent versus a year ago while at the same time transactions at buy-here pay-here dealerships jumped 8.2 percent year-over-year. What do the trends say about the prospects for subprime lenders and BHPH dealers for the rest of 2013? CNW […] [Read More]

CARY, N.C. — A new residual-based financing program from the creators of the CarMark Certified Pre-Owned program, called CarMark Auto Finance, is hitting its stride just in time for dealers to take advantage of the opportunity during the profitable first months of the new year, according to company officials. "The first few months of a […] [Read More]

WASHINGTON, D.C. — In a recent settlement with the Federal Trade Commission, two California-based companies and their principals, who allegedly took hundreds of thousands of dollars from consumers, are banned from marketing auto loan relief or any other type of debt relief to consumers. The FTC filed charges against the companies — Kore Services, doing […] [Read More]

CARMEL, Ind. — In their merger to form NextGear Capital, Manheim Automotive Financial Services and Dealer Services Corp. each bring something unique to the table that can benefit dealers and auctions. That's the word from Brian Geitner, president of the new company, who had held that same role for DSC and talked with our sister […] [Read More]

With the merger of Manheim Automotive Financial Services and Dealer Services Corp., a new inventory finance entity has been announced this morning. NextGear Capital is the new name for the merged lenders, following Manheim’s acquisition of DSC in 2012.   The floor plan company — which said it serves more than 17,000 dealers and 1,000 […] [Read More]

In addition to announcing a new branding strategy for the franchises within its domestic and import business segments, AutoNation reported in its 2012 full-year and fourth-quarter results Thursday that the retailer increased used retail sales by nearly 6 percent last year. AutoNation moved 180,973 used retail units in 2012, good for a 5.8-percent increase from […] [Read More]

CarMark Certified Pre-Owned, a leading third-party vehicle certification program, recently announced that it is expanding its offerings in order to provide more flexibility for its dealer base and additional options for consumers. [Read More]

As the auto lending industry continues to strengthen in an environment with more regulation, organizers of the 17th annual Vehicle Finance Conference & Exposition are again bringing together top executives who plan to share their perspective on the auto finance world. Chris Stinebert, president and chief executive officer of the American Financial Services Association, said, […] [Read More]

The National Independent Automotive Dealer Association once again endorsed RouteOne as the credit application management system of choice for independent stores in 2013.  As an endorsed NIADA National Member Benefit Partner since 2009, RouteOne has assisted NIADA’s 20,000 independent dealer members with streamlining their F&I process through the utilization of RouteOne’s credit application network. “RouteOne […] [Read More]