MASON, Ohio — Security National Automotive Acceptance Corp. announced Monday that on top of a previous $200 million commitment, the company has also secured an additional $75 million commitment from Wells Fargo Preferred Capital and Fifth Third Bank. SNAAC noted this commitment for a $275 million revolving credit facility will be used to expand its […] [Read More]

The brand-new Re3 Conference — Recovery, Repossession and Remarketing — will kick off on the morning of Nov. 16 with an overview of the recovery and repossession industry featuring key players sharing their perspectives on the industry and its future. The conference’s first session is titled "The State of the Industry: Perspectives on technology, strategy […] [Read More]

The Federal Trade Commission recently finalized a policy statement clarifying that the agency will not take enforcement action under the Fair Debt Collection Practices Act or the FTC Act against companies that are attempting to collect the debts of deceased consumers. Officials said the decision is effective only if collection companies communicate with someone who […] [Read More]

The latest forecasts for the auction industry were a little disheartening. It’s hard to take when you hear information about an industry as a whole and try to understand just where you fit in. We are certainly aware of the challenges that we have encountered in the last few years as an industry, but there […] [Read More]

With more and more consumers seeing used-vehicle purchases as smart, cost-conscious choices and then holding onto these models longer than ever, mechanical coverage has become an even stronger selling point for dealers. Auto Remarketing recently reached out to a variety of service contract and warranty companies throughout the country, recognizing that especially in the face […] [Read More]

Though he has been in retirement for more than two years after an extensive career in the auto finance field, well-known SmartAuction developer and former GMAC executive Bill McIver now has a new duty: serving as a board member for Dealer Services Corp. of Indiana. [Read More]

Pick a body style, and the vehicle is probably included in the latest Kelley Blue Book Hot Car Report. What topped week-over-week shopping activity growth at Kbb.com is a unit that not all dealers might automatically have in inventory — the Ram 3500 Crew Cab. Activity for this large pickup spiked 73.4 percent, and Arthur […] [Read More]

With students now needing a vehicle to get to high school or college, NADAguides.com picked three used models and three new units as their top choices for back-to-school vehicles. The three used units include the 2010 Kia Soul, 2010 Nissan Cube 1.8 S and the 2010 Toyota Corolla LE.  The three new models the site […] [Read More]

Avis Budget Group revealed late last week that its Avis Budget Rental Car Funding subsidiary completed an offering of $650 million of asset-backed bonds with a weighted average interest rate of 3.5 percent. Officials said the proceeds of the offering are expected to be used to refinance ABS debt maturing in 2012. The debt has […] [Read More]

A week after announcing plans for the Atlanta leg of its baseball-themed community outreach, AutoTrader.com revealed that it is taking its hunger eradication efforts to Chicago, where it will work with dealers in the region as well some of the city’s baseball stars. [Read More]