ARLINGTON, Texas — Earlier this week, SFG Finance, a purchaser of auto paper from buy-here, pay-here dealers, franchised stores, finance companies, banks and credit unions, revealed its new senior vice president and manager of portfolio acquisitions. Tapped for the role is Robert Chickowski, who as a member of senior management will be responsible for the […] [Read More]

TORONTO — It may not yet have a Canadian stronghold, but Mark Dubois envisions the potential for the buy-here, pay-here financing business in Canada. And he’s reaching out to the country’s dealers at a grassroots level during this year’s Auto Remarketing Canada conference presented by CarProof, where he will teach them more about the BHPH […] [Read More]

BUFFALO, N.Y. — First Niagara Financial Group entered the indirect auto lending business today, providing what the company says is a variety of vehicle financing options through dealerships across the Northeast. Executives indicated the new program is immediately available in New York, Connecticut, Massachusetts, New Jersey, Rhode Island, Delaware, New Hampshire, Vermont and Maine. The […] [Read More]

The Consumer Financial Protection Bureau recently revealed a proposed rule that would codify protections for privileged information submitted to the bureau by the financial institutions it regulates. Back in January, the CFPB advised the institutions it supervises that the submission of privileged information to the CFPB does not waive any applicable privilege with respect to […] [Read More]

Auto Auction Services Corp. (AutoIMS) recently released the results of a survey it conducted about floor pricing, including aggregate findings from more than 325 commercial vehicle consignor responses. Goals of the survey included assessing the preferences held and the challenges faced by the commercial consignor community as it relates to pricing vehicles for auction sale. Survey responses came […] [Read More]

Detail Plus Car Appearance Systems has recently revealed a new tool designed to improve the efficiency of dealership detail departments. The company has released a smaller version of its air-powered Rotary Shampoo Tool for scrubbing carpets, floor mats and seats in automobiles. [Read More]

With sales expected to reach above 30 million units this year, Pike Research contends electric bicycles now are the world’s best-selling electric vehicles. Analysts insisted rapidly accelerating urbanization, the increasing need for low-cost transportation in developing markets and expanding opportunities for new market entrants are all helping to drive e-bicycle sales.  Pike’s newest reports also […] [Read More]

Last year’s merger and acquisition activity by public dealerships groups jumped 140 percent above the 2010 total, according to the Presidio Group’s Automotive Retail M&A Report. Presidio combed through corporate SEC filings to determine publicly held dealer groups completed $512 million in acquisitions in 2011. While making a significant year-over-year climb, Presidio acknowledged the total […] [Read More]

With TrueCar.com predicting that the industry will end March with the highest rate of new-car sales in five years, its analysts also noted many foreign OEMs are looking to notch their highest unit sales ever in the U.S. as this month comes to an end. And though inventory remains tight, used sales are enjoying a […] [Read More]

Though in the past, discount jewelry, half-price furniture and bargain tech gear is what comes to mind when consumers turn to eBay, AutoNation and eBay Motors have teamed up to offer a special vehicle promotion.  As part of its nationwide launch, AutoNation Direct, the online sales site for dealer group AutoNation, will be selling more than […] [Read More]