CHADDS FORD, Pa. — Flagship Credit Acceptance recently announced its controlling shareholder increased its capital investment to support the company’s growing auto finance platform. Flagship also revealed it entered into an agreement with Wells Fargo Bank to renew and increase its commercial credit facility to $175 million. Officials explained the credit facility represents an additional […] [Read More]

FORT WORTH, Texas — After spending several weeks soaking in as many company details as possible, Digital Recognition Network's new chief executive officer is traveling full bore, meeting with lenders and agents in attempt to push the license plate recognition technology operation to "the next level." Chris Metaxas officially became DRN's top boss back on […] [Read More]

SOUTHFIELD, Mich. — Open Dealer Exchange recently revealed an agreement for integration with auto lending solutions provider CUDL. Through this new partnership, “CUDL will be offering direct credit application and contract validation data integration from the dealer’s point-of-sale system directly to the CUDL system,” officials explained. “The agreement with Open Dealer Exchange allows our credit […] [Read More]

BENTONVILLE, Ark. — Buy-here, pay-here dealership group America's Car-Mart recently revealed the opening of its newest dealership. The new rooftop is located in Moberly, Mo., and marks the 112th dealership for the chain. Commenting on the news, William  "Hank" Henderson, president and chief executive officer of America's Car-Mart, noted, "Moberly is our 14th dealership in […] [Read More]

After spending several weeks soaking in as many company details as possible, Digital Recognition Network’s new chief executive officer is traveling full bore, meeting with lenders and agents in attempt to push the license plate recognition technology operation to “the next level.” Chris Metaxas officially became DRN’s top boss back on Dec. 1, and used […] [Read More]

Fitch Ratings recently released a new study that showed repo collateral value and recovery potential are on the rise. In the report titled, “Repo Emerges from the Shadow,” analysts indicated that based on a sample of the repo exposures of the 10 largest U.S. prime money market funds, they found several trends in repo collateral, […] [Read More]

The American International Automobile Dealers Association welcomed 2012 chairman Ray Mungenast to the helm Monday at its 42nd Annual Meeting and Luncheon while also revealing the winners of the annual achievement award named after the new chairman’s late father. Receiving this year’s David F. Mungenast Lifetime Achievement Award were Rick and Rita Case, the Fort […] [Read More]

Polk recently revealed it is providing Internet lead conversion reporting to Autobytel, working together to create what they said is a solution that defines vehicle sales conversion rates for Autobytel leads. The companies noted that the solution incorporates conversion reporting at a variety of levels. Those include OEM, vehicle segment type and those leads that […] [Read More]

AutoTrader.com declared today that it is taking co-op compliance for online advertising to “the next level” with make-based new-vehicle advertising packages, a new display advertising unit and dedicated specialists to assist dealers. With the majority of new-models buyers utilizing the Internet as their leading source during the shopping process, the company said it believes these […] [Read More]

Though used inventory may be low and high wholesale prices continue to challenge dealerships’ bottom lines all over the country, these very same dealers are remaining positive when looking forward to this new year. Inventory might be tight, but their outlook for sales tells a brighter story. As 2012 gets into full swing, sales are […] [Read More]