The latest tech gadget or social media trend might not be the only status aspiration of Millennials — the generation of young Americans ages 11 to 30 years old. Research conducted by Chevrolet and MTV Scratch found nearly 70 percent of Millennials consider the purchase of their first vehicle to be a key marker on […] [Read More]

Craigslist is the fourth most visited independent site for car buyers, according to a recent study conducted by J.D. Power. That’s more than Edmunds, Cars.com and NADAguides.com. How have they been able to get so popular? Simple: strict ad posting rules that if broken are harshly punished. If you choose to break their rules, you […] [Read More]

America’s Auto Auction Chicago recently picked up an honor from SmartAuction. SmartAuction vice president Steve Kapusta presented the operation with the 2011 Greatest Year-Over-Year Growth Award. Accepting the honor for America’s Auto Auction Chicago was general manager Larry Hero, Internet sales manager Mark Super, fleet/lease/business development manager Fred Uhter and Internet salesperson Natalie Markham Also […] [Read More]

The last time Volkswagen of America had this good of a first quarter, Richard Nixon was president and "The Godfather" was being given the Academy Award for Best Picture. The company’s 94,373 new-vehicle sales in the first three months of 2012 marked its strongest first-quarter since 1973, and VW capped the quarter with both its […] [Read More]

There is great and very understandable angst among dealers over automaker programs that require expensive dealership renovations, especially when they appear arbitrary and do nothing to sell more cars or satisfy customers. The National Automobile Dealers Association helped elevate the current national debate over manufacturer-mandated facility upgrades by commissioning the first-ever facility study. [Read More]

Ending its month-long Xtreme Spring Sale Event with a bang, Manheim Pennsylvania held the 100 Grander, Ultra Highline and Classic Car sale this past week, with the proceeds benefitting the Wounded Warrior Project — an organization providing aid to injured servicemen and women. Nearly 4,000 dealers attended the sale which featured the auction of a […] [Read More]

SOUTHFIELD, Mich. — Credit Acceptance Corp. recently completed $201.3 million asset-backed non-recourse secured financing. Pursuant to this transaction, the company calculated that its contributed loans having a net book value of approximately $251.7 million to a wholly-owned special purpose entity that will transfer the loans to a trust. Credit Acceptance highlighted how the trust will […] [Read More]

DALLAS — With an economic rebound still tenuous, recovery efforts by finance companies, credit unions and buy-here, pay-here dealers remain a critical part of doing business nowadays. As the industry ventures deeper in 2012, SubPrime Auto Finance News reached out to several recovery executives to gather their thoughts on how recoveries are evolving. To set the […] [Read More]

FARMINGTON HILLS, Mich. — Mercedes-Benz Financial Services revealed this week its employees will now have the opportunity to participate in a program facilitated by the Detroit Institute of Arts, which focuses on the sharing of art and culture. Through the program, the company noted “they (employees) are exposed to the artistic masters from different continents […] [Read More]

WASHINGTON, D.C. — The Federal Trade Commission filed charges and requested that a U.S. district court put a stop to the allegedly deceptive tactics of two California-based auto loan modification operations. In a release revealed today, the FTC asserted that the two separate operations charged hundreds of dollars in up-front fees, based on "bogus" promises […] [Read More]