Automotive Finance Corp. revealed the grand prize winner of its Fee Free Flooring for a Year Contest Tuesday. Winning the campaign was Said Barzegar of Eurosport Auto located in San Jose, Calif., a rooftop serviced by AFC Cal’s San Francisco branch overseen by Tony Souza. Officials highlighted Eurosport Auto has been an AFC customer since […] [Read More]

In light of surging gas prices, Swapalease.com surveyed consumers about how they plan to respond to the “wallop to their wallets.” What the website found is that “an overwhelming” amount are considering buying or leasing a more fuel-friendly ride. In fact, more than three-quarters of the respondents (77 percent) say they are thinking about buying […] [Read More]

DEERFIELD BEACH, Fla. — Southeast Toyota Finance is joining in Toyota's support for U.S. military personnel, announcing recently that these troops will be given a $1,000 rebate on new Scion purchase or lease, or they can get a $500 rebate for any new Toyota purchase or lease. "Our courageous service men and women put their […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:”Calibri”,”sans-serif”; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:”Times New Roman”; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} HOBOKEN, N.J. — According to an article written by Credit Union Times' Michelle Samaad, […] [Read More]

CHICAGO — Reflecting the overall improvement by the Blue Oval, Fitch Ratings upgraded the issuer default ratings for both Ford and Ford Motor Credit earlier this week. Drawing positive reaction for the automaker, Fitch raised the ratings from BB+ to BBB-. Analysts indicated the rating outlook for both Ford and Ford Motor Credit is stable. […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:”Calibri”,”sans-serif”; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:”Times New Roman”; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} SACRAMENTO, Calif. — Regulatory and judicial actions against the buy-here, pay-here industry are […] [Read More]

KAR Auction Services announced today that it fully integrated the online, bid-now sales solutions of two of its subsidiary companies, ADESA and OPENLANE. It highlighted that the new platform — ADESA OpenLane — combines the vehicle inventory that was previously available on ADESA DealerBlock with the inventory available on OPENLANE.com into one unified online venue. […] [Read More]

In another sign repossession volumes could be softening, the American Bankers Association discovered that consumer delinquencies fell in all 11 loan categories the association tracks — including auto loans. According to the fourth quarter Consumer Credit Delinquency Bulletin, the composite ratio — which tracks delinquencies in eight closed-end installment loan categories — fell 10 basis […] [Read More]

The Consumer Financial Protection Bureau recently released a bulletin clarifying that financial institutions under federal supervision may be held responsible for the actions of the companies with which they contract — including operators such as skip-tracers and repossession agencies. The CFPB said it will take a close look at service providers’ interactions with consumers and […] [Read More]

Leaders from both the National Automobile Dealers Association and American Truck Dealers are asking members to take part in NADA’s new Dealership Workforce Study that will analyze employee compensation, benefits, turnover and other data. NADA and ATD member dealers have until May 2 to share their feedback, and the association emphasized there is no cost […] [Read More]