CLEARWATER, Fla. — With eyes on more expansion projects, Nicholas Financial recently revealed it executed an amendment to its bank credit line that increases the size of the credit line from $140 million to $150 million and extends the maturity date to Nov. 30, 2013. The company indicated all other terms and conditions of its […] [Read More]

FARMINGTON HILLS, Mich. — Though the recovery has been stalling and the U.S. credit downgrade from Standard's & Poor's certainly didn't help,  all four major lender platforms — RouteOne, DealerTrack, Wolter Kluwer's AppOne and Finance Express — report to SubPrime Auto Finance News they are seeing application volumes climb. And this bodes well for the […] [Read More]

ALEXANDRIA, Va. — Continuing a trend seen throughout the year, the American Bankruptcy Institute discovered the amount August consumer bankruptcy filings dipped both year-over-year and month-over-month. Relying on data from the National Bankruptcy Research Center, ABI determined August consumer bankruptcies decreased 11 percent nationwide from the same month a year ago. The data showed that […] [Read More]

On Thursday, shipments of new Chevrolet Volts began rolling out to Canadian dealers, who were set to deliver these extended-range electric vehicles to customers. The Volt is currently available in Vancouver, Victoria, Toronto, Oshawa, Ottawa-Gatineau, Montreal and Quebec City. Customers in the select markets could begin ordering Volts on May 2. General Motors of Canada […] [Read More]

Some Ontario dealers who regularly make out-of-province sales may actually benefit from a new tax law, according to the Used Car Dealers Association of Ontario. UCDA pointed out in its latest Front Line report that the new HST rule can allow eastern and northwestern Ontario dealers to apply lower tax rates when they sell to […] [Read More]

In what has been an up-and-down rollercoaster kind of year for the Canadian auto market, August continued the streak of unpredictable, volatile car sales, according to DesRosiers Automotive Consultants. After falling 5 percent in July, the new-vehicle market was up 3.2 percent during August, the firm explained. While the 140,361 sales were stronger than year-ago […] [Read More]

CNW Research said August used-vehicle sales slipped 3.3 percent versus the same month a year ago, but the drop had nothing to do with activity at franchised or independent dealerships. So what triggered the August drop? CNW president Art Spinella attributed the decline to a softer private-party market, which tumbled down more than 18 percent […] [Read More]

Mazda recently moved its head of certified pre-owned and remarketing to a new position overseeing all retail marketing and incentives for the company and is now looking to fill his spot. Eric Watson, who was group manager of remarketing and CPO for Mazda North American Operations, officially began his tenure as the company’s group manager […] [Read More]

The “virtual freeze” in dealership merger and acquisition activity in the preceding three years has thawed in dramatic fashion during 2011, according to the automotive wing of The Presidio Group financial services firm. Presidio’s report says it is an ideal time to buy dealerships — which are currently enjoying record per-store profits and healthier sales — and […] [Read More]

In a departure from what is typical for the Labor Day holiday at dealerships, Kelley Blue Book believes that leasing incentives and low APR finance deals may be the name of the game this weekend instead of the usual cash rebates that automakers pile on this time of year. Ordinarily, automakers use Labor Day weekend […] [Read More]