WASHINGTON, D.C. — The Federal Reserve still hasn't resumed its regular reporting on averages for new-vehicle loans by finance companies. But officials late last week did share the latest average by commercial banks. The Fed determined the average interest rate on a 48-month, new-vehicle loan from a commercial bank came in at 5.81 percent in […] [Read More]

FARMINGTON HILLS, Mich. and LOGAN TOWNSHIP, N.J.— Daimler Truck Financial revealed Monday that it will begin providing financial products and services for more than 175 Mitsubishi Fuso Truck of America dealers and their customers. DTF noted that through this partnership the companies will “provide customers with competitive financing options with rates in Q3 as low […] [Read More]

PHILADELPHIA — VINtek revealed this week that it has helped with the drafting of legislation that will allow the Texas Department of Motor Vehicles to develop rules to hold auto liens electronically, instead of via paper titles. Texas House Bill 2575 was signed by Governor Rick Perry on June 17, 2011 and authorizes the Texas Department […] [Read More]

Cash for Clunkers may have come and gone, but a new website that has recently launched aims to tackle a similar issue: getting rid of “unwanted” vehicles that are too old to be desirable, have repair costs that are more than the purchase price or are undesirable because of extremely high mileage. For those who […] [Read More]

A former president of ACA International, the Association of Credit and Collection Professionals, is one of the main presenters for a series of four training programs meant to create “collection superstars.” Officials from insideARM.com have rolled out ARM Summer School — a program that is broken up into a four-course learning experience for supervisors and […] [Read More]

A problem the executive director of Time Finance Adjusters believes many hard-working, reputable repossession agencies are facing nowadays is becoming more evident as the economy slowly struggles to right itself. During a gathering of veteran agents, Ron Brown shared that he “was very surprised that many guys did not know what they’re daily expenses were […] [Read More]

Big pickup inventories have apparently been piling up on dealer lots, and analysts are beginning to fear that automakers, domestics in particular, will be forced to ramp up incentives if demand doesn’t return, according to a recent report. Apparently, General Motors is gaining attention because its Chevrolet Silverado and GMC Sierra full-size trucks stood at […] [Read More]

Along with rolling out a new iPhone app, AutoTrader.com discovered because of the steady decline in gas prices throughout June, American consumers are showing signs they want to shift their focus back to trucks and SUVs. AutoTrader.com’s June Trend Engine Report showed trucks and SUVs have gained consumer interest since May and that interest in […] [Read More]

The CarMark Certified Pre-Owned program, the industry’s most comprehensive independent pre-owned vehicle certification program, is pleased to announce that three new dealers — in California, Minnesota and Wisconsin — have joined its ranks and are gearing up to offer CarMark Certified pre-owned vehicles to their customers. [Read More]

Extended warranties have become an increasingly integral part of the auto business, as they not only serve to protect car owners and foster greater buyer confidence, they can add another selling point for dealers and bring more value to a vehicle. But — like with any business — there can be bad apples that abuse […] [Read More]