ALEXANDRIA, Va. — In an effort to educate its members — especially ones ages 17 to 25 — about how vehicle loans function and other elements of consumer credit, Pentagon Federal Credit Union and the PenFed Foundation formed a partnership this week with MoneyU, an award-winning financial game. Credit union officials explained MoneyU can take […] [Read More]

RANCHO SANTA MARGARITA, Calif. — Finance Express revealed this week that it received confirmation about its first patent from the U.S. Patent and Trademark Office. In connection with its Web-based financial services and technology for independent dealerships, company executives said federal officials issued U.S. Patent No. 7,908,210 entitled, "Systems and Method For Managing Dealer Information." […] [Read More]

General Motors revealed on Tuesday evening that it will be selling the entirety of shares of Fixed Rate Perpetual Preferred Stock, Series A in Ally Financial. These will be sold in a public offering and have been priced at $1 billion. The shares compose the entire lot of Ally Series A preferred stock outstanding, GM […] [Read More]

In less than one month, the CarMark Certified Pre-Owned program has added four new dealerships and one three-location dealer group to the growing list of dealerships offering CarMark vehicles. The seven new locations are: —Belle Mead Garage in Belle Mead, N.J. —Bert Ogden Edinburg Mazda in Edinburg, Texas —Davis Automotive Group in Solon, Ohio —BMW […] [Read More]

The American International Automobile Dealers Association recently shared some of the details of its upcoming International Auto Industry Summit. Among the speakers at the event will be former Minnesota Gov. Tim Pawlenty, Pulitzer Prize-winning author Paul Ingrassia, members of Congress, as well as an automaker panel that will host a Q&A session with dealers. The […] [Read More]

Mercedes-Benz USA unveiled a few shifts in its leadership on Wednesday, as it appointed five general manager positions spread throughout corporate headquarters and its Northeast region. Beginning with the new general manager of the Northeast region, filling this role is Andrew Gillman, whose most recent post with Mercedes-Benz was as general manager of vehicle logistics […] [Read More]

Carfax said Wednesday that its free “Carfax for Dealers” mobile application is now available on Android mobile devices. The app — which has already been launched for the iPhone and other Apple devices — allows dealers to tap into their Carfax accounts while they are out and about. “I made sure to download the app the […] [Read More]

In evaluating pricing trends in the wholesale marketplace over the past week, Black Book’s Ricky Beggs spotted a first for 2011: The values in each of the 10 car segments that Black Book monitors climbed last week. “The activity at many auctions could easily be described as amazingly strong,” said Beggs, Black Book’s managing editor. […] [Read More]

Even before the current run-up in gas prices appeared to be a threat, the biggest driver for consumers purchasing a vehicle, outside of the vehicle’s price, was fuel efficiency, according to AdGenesis, a mobile and online video advertising network. The company conducted a survey of 4,400 of its customers before the “news of looming gas […] [Read More]

The auto recalls that dominated the news in 2010 certainly brought some safety issues and policies into discussion throughout the industry and general public. Edmunds.com aims to delve into car safety policy in further detail when it offers a free conference this spring featuring automotive and governmental leaders, among other experts. The company’s “Truly Safe? Debunking […] [Read More]