ALEXANDRIA, Va. — With the expectation of more declines, the American Bankruptcy Institute determined May filings dropped by double digits year-over-year, according to data provided by Epiq Systems. Total bankruptcy filings in the United States for May decreased 11 percent to 109,392, down from the 122,836 filings registered in May of last year. ABI indicated […] [Read More]

NEW YORK — Fitch Ratings called U.S. auto loan ABS performance in April "stellar" as its latest index results showed several record readings. Analysts determined prime auto asset-backed securities (ABS) delinquencies and losses dropped in April to the lowest levels recorded in 2012. They said performance was buoyed by the solid 2009-2011 vintages, which are […] [Read More]

Mudd Advertising, Allied Solutions and Auto Financial Group have teamed up to offer a residual-based finance tool that aims to demonstrate what the companies believe to be the benefits of a 24- or 36-month balloon finance alternative. Among other benefits, officials contend the new iAutopayment RBF can help dealers keep customer loyalty steady and maintaining […] [Read More]

LEAP Financial, a vehicle leasing company that serves consumers who have difficulty obtaining credit and aims to help finance companies improve recoveries, recently announced the results of its most recent customer satisfaction survey. LEAP asked customers to rate their overall satisfaction with its services using a scale of 1 to 5, with 1 being “not […] [Read More]

Field services provider National Creditors Connection recently revamped its website, which now contains what company officials say is a streamlined and modernized look with new content and features. NCCI highlighted the site’s new look and feel has vibrant colors and images and improved organization to streamline navigation for visitors. Officials explained the website uses case […] [Read More]

Sharing what Black Book editors observed for themselves in the lanes or what the commentary survey personnel reported back to the home office, Ricky Beggs indicated that dealer sentiment is becoming more consistent about how wholesale conditions are nowadays. In his latest video blog, “Beggs on the Used Car Market,” the Black Book managing editor […] [Read More]

A digital marketing package discounted at 40 percent is the just-announced June member deal from Dealers United. The package partnership, including search-engine marketing and pay-per-click advertising, is from Haystak Digital Marketing. Based on the negotiated terms, Dealers United reports that its members can save more than 40 percent on the package over regular pricing. Haystak […] [Read More]

Group 1 Automotive — which made it into Auto Remarketing’s "Top 125 Used-Car Dealer Groups" feature that can be found in the June 15  issue  — said Monday it has made another acquisition in the Sunshine State. Three weeks after revealing the purchase of two stores in the Panama City, Fla., market,  Group 1 announced […] [Read More]

Following the first year-over-year decline in certified pre-owned sales in six months, the market got right back on the upswing in May. CPO sales last month jumped more than 8 percent year-over-year and bested April’s total by 9.7 percent, according to Autodata Corp., which said dealers moved 156,997 certified vehicles in May. [Read More]

With its latest acquisition, American Auto Auction Group  has expanded its number of auction operations to 20. Extending its presence into the Upper Midwest, AAAG’s recent addition is Badger State Auto Auction in Fond du Lac, Wis., which officially became a group member on Friday. Keith Lelux, AAAG founder and chief operating officer, said: “We […] [Read More]