Hertz Global Holdings announced plans Monday for wholly owned subsidiary Hertz Corp. to offer $300 million aggregate principal amount of 6.75 percent Senior Notes due 2019. The private offering is exempt from the registration requirements of the Securities Act of 1933, as amended, subject to market and other conditions, the company noted. Officials explained that […] [Read More]

The National Highway Traffic Safety Administration shared details about Toyota and Chrysler recalling more than 42,000 U.S. vehicles combined in separate cases. Starting with Toyota’s recall, NHTSA indicated that the automaker is recalling five different vehicles from the 2008 through 2011 models years to address the tire pressure monitoring and regulating systems. The specific models […] [Read More]

SAUSALITO, Calif. — ChannelNet, a company that provides secure personal microsite solutions in the auto financing industry, revealed recently that it has rolled out more than 8 million sites incorporating its personalization and targeting capabilities. The debut personal microsite from ChannelNet — which was for BMW Financial Services — was rolled out in 2005. In August 2009, […] [Read More]

NEW YORK — DBRS recently reviewed last year's auto ABS performance and gave reasons why this year's used-vehicle market in particular should remain relatively strong. DBRS explained that auto ABS was the largest sector by securitization volume in 2010, although volume was still lower than it had been prior to the economic downturn. Firm analysts […] [Read More]

BENTONVILLE, Ark. — America's Car-Mart expanded its dealer network to 105 stores by opening its seventh rooftop in Alabama. The newest operation is located in Anniston, Ala. "We are pleased to announce the opening of our seventh location in Alabama. We have tremendous opportunities in Alabama, a state that has potential much like our home […] [Read More]

SOUTHFIELD, Mich. — Credit Acceptance Corp. recently shared its plans for a $100 million offering of its 9.125-percent senior-secured notes due 2017. The company explained that: "The notes will constitute additional securities under an existing indenture pursuant to which the company issued $250 million of its 9.125-percent first priority senior secured notes due 2017 on […] [Read More]

Brasher’s Portland Auto Auction recently rolled out a new promotion designed to not only show appreciation for its dealer customers, but also help generate customer loyalty, as well. Under the Dealer Rewards Program, each dealership wishing to take advantage of the promotion is given a “Rewards” card, explained auction sales manager Rob Wassom. The dealership is […] [Read More]

Repossession agencies and other debt collectors could be affected by a proposed rule working its way through the Federal Communications Commission. Federal regulators are prepared to tighten the use of prerecorded, automatically dialed “robocalls” to contact contract holders through their cell phones. Collection organizations are concerned because more consumers appear to be abandoning land lines to […] [Read More]

Repo Remarketing recently ramped up its vehicle valuation system for managing credit union sales inventory. The company explained its system now has auction sales guide information from NADA Used Car Guide. Repo Remarketing chief executive officer Lance Gartner thinks reviewing of each unit’s condition and mileage and comparing them to current competitive market reports of […] [Read More]

The outlook for dealers throughout the country appears to be bright, according to the Federal Reserve, which said in its latest Beige Book report that the bulk of its 12 Federal Districts enjoyed year-over-year sales increase in the most recent reporting period. Within the respective districts, the Fed reported several pieces of good news for […] [Read More]