Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 PHOENIX and DALLAS — A regulatory filing with the Securities and Exchange Commission confirmed DriveTime Automotive Group, its shareholders and certain affiliates entered into definitive agreements with Santander Consumer USA. Officials explained that DT Acceptance Corp. and its subsidiary, DT Credit Co., will sell its finance […] [Read More]

NEW YORK — Coming off a historic low, the auto loan default rate ticked higher last month, according to August data reported by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices. The auto rate edged up to 1.09 percent in August, up from July's rate of 1.01 percent. Meanwhile, analysts […] [Read More]

DAYTON, Ohio — Reynolds and Reynolds recently announced that the U.S. Patent and Trademark Office has issued two U.S. patents relating to docuPAD, the F&I selling and document processing system for dealerships. Officials reiterated docuPAD is a menu-driven, interactive F&I solution that can enable dealership personnel to engage consumers in the finance and insurance steps […] [Read More]

ALEXANDRIA, Va. — Have you heard the term "fiscal cliff" lately? According to both political and financial analysts, it looks like the United States is headed for one at serious speed. Here's some background. About a year ago, Congress passed the Budget Control Act of 2011, which established a bipartisan "supercommittee" tasked with addressing America's […] [Read More]

Dealers probably have heard concern from customers about mileage constraints being one of the biggest drawbacks when leasing a new vehicle. However, a recent national leasing survey from Swapalease.com showed those concerns appear to be diminishing significantly. In fact, apprehension about mileage allowances ranked seventh out of 10 for today's top reasons why people want […] [Read More]

Iowa attorney general Tom Miller recently announced one of the state’s independent dealers has agreed to stop what was alleged to be illegal repossessions of vehicles. In an agreement with the consumer protection division, called an assurance of discontinuance, Miller alleged that Goldy’s Auto of Ottumwa, Iowa, illegally attempted to have customers waive their rights […] [Read More]

Recovery Industry Services Co. recently learned the Illinois edition of the Certified Asset Recovery Specialist certification program has been approved by the Illinois Commerce Commission, the agency responsible for enforcement of the new Illinois Collateral Recovery Act. RISC highlighted that Illinois is the third state to endorse the CARS program as “home study,” with Florida […] [Read More]

Women are hitting the road to spread the word about breast cancer and offer potentially lifesaving facts, in a collaboration between Kia Motors America and HerHighway.com. Kia announced on Tuesday that it will partner with the site, which offers women bumper-to-bumper auto knowledge, to supply vehicles for Drive Breast Cancer Awareness. The event is an […] [Read More]

During the Used Car Week series of conferences this fall, attendees of the Re3 event and the National Remarketing Conference will come together for a joint session offering a comprehensive look into the broad spectrum of impacts and events shaping the used-vehicle industry in the past year. [Read More]

Black Book’s Ricky Beggs provided more insight into why General Motor’s Chevy Volt might be turning some heads in the near future. With the current Volt lease deal, which boasts a monthly price averaging at $269, the vice president and managing editor at Black Book noted “the current lease deal should drive healthy off-lease demand […] [Read More]