AUL Corp., provider of used-vehicle service contracts, announced Monday that it is partnering with auto software solutions companyOptionSoft Technologies. Both companies aim to utilize this partnership to ensure their dealer networks are equipped with the most advanced electronic business solutions possible.  Regarding the alliance, Jimmy Atkinson, chief operating officer of AUL said: "Partnering with OptionSoft […] [Read More]

LAKE SUCCESS, N.Y. — Triggered by significant income and revenue turnarounds, DealerTrack Holdings raised its revenue and earnings guidance after releasing its first-quarter financial performance. Company executives said Monday their GAAP net income for the quarter came in at $24.7 million as compared to a GAAP net loss of $2.5 million for the first quarter […] [Read More]

ATLANTA — Equifax announced this morning that it is continuing to see auto lending increase with average loan amounts generated through auto finance companies up 88 percent over 2009 levels. The total number of auto loans originated in January 2011 is up nearly 24 percent over January 2010 originations. Those sourced through auto finance companies grew […] [Read More]

MINNEAPOLIS — Wolters Kluwer Financial Services is looking to help dealerships connect with more lending sources through its new Indirect Lending Directory. The listing contains lenders that accept and use the company's retail installment contracts to document the financing of automobiles, boats, RVs and powersports units. Officials explained the directory of more than 600 lenders, […] [Read More]

IRVINE, Calif. — Several industry veterans behind Triad Financial recently banded together to launch a new non-prime auto finance lender, CarFinance Capital. Based in California, the company will first launch on the West Coast, expand to Texas in June and then continue the roll out throughout the country for the rest of the year. Jim Landy, Triad's […] [Read More]

Plaza Auto Auction revealed recently that it has a new national accounts sales manager. Appointed to the post was Bill Nutkins, whose experience in the retail and remarketing environment goes back more than 35 years. Nutkins previously served as the sales manager/national accounts at Manheim/Remarketing Solutions. He worked in the areas of credit unions and […] [Read More]

Clear direction about whether a repossession agency or lender can contact debtors through some of the latest technology methods such as cell phones or social media remains uncertain, according to the American Financial Services Association. AFSA staff members recently attended a workshop hosted by the Federal Trade Commission on consumer protection related to debt collection […] [Read More]

Recovery Manager Pro recently released its new historical plate information function for its integrative cloud solution. The company indicated the newest addition to its cloud-based Web portal can enable users in both the recovery and auto finance industries to purchase information on previously spotted vehicles of interest, utilizing MVTRAC’s license-plate recognition patent. Recovery Manager Pro […] [Read More]

For the second time already this year, the Manheim Used Vehicle Value Index reached a record high. Manheim’s Tom Webb explained wholesale used-vehicle prices on a mix, mileage, and seasonally adjusted basis rose 1.9 percent in April against the previous month, leaving the index reading at 126.6. During the past year, Webb calculated adjusted wholesale […] [Read More]

In an interview with Auto Remarketing, ALG said it believes a trio of economic factors — the housing market, used supply and gas prices — will combine to effect 36-month residuals between zero and 1 percentage point based on how vulnerable a segment is to the aforementioned factors. [Read More]