Debt collection association ACA International recently appointed a new chief executive officer. Assuming the post on June 1 is Patrick Morris. ACA International highlighted that Morris has been an association executive for the past 16 years and brings a wealth of experience in financial services, regulatory and legislative issues, international affairs and insurance. Morris is […] [Read More]

An Ohio repossession agency wanted to inform the rest of the industry about what it’s calling a scam gaining traction in the financial community. Source One Adjusters of Ohio explained the dangers of what’s being dubbed a “private repossession,” a process that agency officials say targets a bankrupt consumer using free Internet classified ads. Source […] [Read More]

Speaking for independent dealers from Connecticut to California, Auto Remarketing caught up with Anthony Underwood this week while he was driving back to his dealership after making one of his biweekly auction trips. The current president of the National Independent Automobile Dealers Association called the search for inventory — especially fuel-efficient models — “amazing.” “You talk with seasoned […] [Read More]

SmartAuction recently named a new leader after Mark Newman left to pursue another opportunity. Taking on the role of vice president of SmartAuction in May is Steve Kapusta.   In this role, he now oversees the SmartAuction team within Ally Auto Remarketing.   SmartAuction is Ally Financial’s leading online remarketing site with more than 13,500 […] [Read More]

Chrysler will completely pay off its U.S. and Canadian government loans — along with any related fees and expenses — with the proceeds from a notes offering, a new term loan facility and the equity investment from Fiat, the company revealed Friday. [Read More]

Late last week, KAR Auction Services revealed details of its debt refinancing effort that totaled nearly $2 billion. The company entered into a $1.7-billion, six-year senior secured term loan facility and a $250-million, five-year senior secured revolving credit facility with a syndicate of lenders. In addition to replacing the company’s prior senior secured credit facility, […] [Read More]

With automakers showing off their new offerings — which include all-new models as well as updated versions of existing rides — MSN Autos shared what it believes to be the 10 vehicles whose latest editions showed the most progress from their predecessors. [Read More]

Following Nissan’s recent cash donations to support disaster relief, the automaker announced that it will offer employee pricing and delayed finance payments to those who sustained vehicle damage or loss as a result of recent southeastern U.S. storms. The offer that comes on the heels of the automaker’s May 2, $115,000 donation to the American […] [Read More]

Subaru of America recently learned it received a pair of honors from its tongue-in-cheek “Mediocrity” campaign. The automaker won a 2011 Webby Award in the automotive category, plus the Gold 2010 International Automotive Advertising Award (IAAA). Officials explained how they played off of the “abundance of bland midsized sedans in the marketplace” to create its […] [Read More]

OPENLANE has rolled out a Canadian mobile site that will allow dealers to use their Apple iPhone/iPod touch and Google Android-based smartphones to tap into their accounts. And in celebration of the new site, there is a drawing for dealers to win an iPad 2. Dealers can visit the mobile site and log-in to enter […] [Read More]