FRANKLIN, Tenn. — Nissan revealed today some changes in the senior leadership for its financial arm, gaining a new director of financial services, as well as a new director of remarketing, to name a few. Tapped for the position of director of financial services of Nissan Motor Acceptance Corp. is Kevin Chartier — current director […] [Read More]

AUSTIN, Texas — This week, Consumer Financial Protection Bureau director Richard Cordray made his highly anticipated appearance at the annual gathering of the Consumer Bankers Association. While Cordray specifically mentioned the mortgage industry and not the auto finance sector, the themes he emphasized in his comments likely pertained to any type of borrowing contract. "Our […] [Read More]

BANDON, Ore. — As many may remember, using a home-equity loan to make a new-vehicle purchase was a key method for acquiring a vehicle prior to the recession and the house-price collapse, according to CNW Research. But firm president Art Spinella says recent trends suggest that consumers are reverting back to home equity loans, especially […] [Read More]

A new financing program has been rolled out in Canada whose creators say can make it easier for expatriates to lease or finance a new or used car in the country. ExpatRide — a supplier for several North America relocation and destination services companies — has launched a program that offers lease or purchase financing […] [Read More]

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 market’s unique […] [Read More]

In the recently released latest update to the ADESA Canada Used Vehicle Price Index, the drill-down into segment pricing trends included in the analysis shows somewhat of a mixed bag. What the analysis uncovered was that the six segments in the data were split between strong gains, declines and stability. [Read More]

Sonic Automotive revealed Wednesday it has tapped a new firm to serve as its app development team. The auto group partnered with Lextech Global Services in a deal that makes the mobile application strategy and development firm Sonic’s mobile business unit. Basically, this partnership with Lextech offers Sonic the necessary expertise to build and roll […] [Read More]

CarMax recently opened its first rooftop in Pennsylvania. Officials highlighted that their showroom at 1457 Manheim Pike in Lancaster, Pa., consists of 49,600 square feet. CarMax employs more than 80 associates at the new store and is stocking inventory with about 300 vehicles “Resuming our growth plan has meant expanding into new areas such as […] [Read More]

Geared to provide added assurance and enhance the lease experience for their customers, Toyota Financial Services and Lexus Financial Services this week rolled out the Excess Wear & Use Protection Plan, the newest product to join the TFS/LFS portfolio.  Brand officials acknowledged consumers often have questions about their financial responsibility for items such as dings, […] [Read More]

NADA University is rolling out a new annual study that replaces the biennial NADA Compensation Study and offers an enhanced look into dealership workforce trends. The first NADA Dealership Workforce Study is slated to be released this summer and include data from 2011. Explaining how it will be different from the NADA Compensation Study, officials […] [Read More]