Hertz Global Holdings recently announced its wholly owned subsidiaries, Hertz Corp. and Hertz Equipment Rental Corp., have completed the refinancing of their existing senior secured credit facilities. They have come under a new $1.8 billion asset-based revolving credit facility and a new $1.6 billion senior secured term loan and letter of credit facility. Hertz indicated […] [Read More]

Leading up to next month’s Digital Dealer Conference and Exposition, DealerApp Vantage revealed Monday that its new mobile application — Dealer Appvantage Pro — is now available. The solution can run on BlackBerry and Android devices as well as the iPhone. DAP is geared to be a mobile app to help dealers better interact with […] [Read More]

LATHRUP VILLAGE, Mich. — Michigan First Credit Union has rolled out a new website where shoppers can research vehicles, schedule test drives, get price quotes, obtain vehicle financing and purchase vehicles. The "Member Showroom" can be accessed by the general public and is powered by Zag. "The Michigan First Member Showroom provides shoppers with a convenient alternative […] [Read More]

GREENWOOD VILLAGE, Colo. — Colorado-based Bellco Credit Union has teamed up with longtime partner Automotive Avenues — what officials called the largest credit union-endorsed dealership in Denver — to create a new website that can teach and offer advice to car shoppers about the purchasing process. This, of course, can help foster greater confidence among consumers about buying […] [Read More]

DALLAS — Santander Consumer USA has rolled out a free mobile application for its RoadLoans.com site that is compatible with Android smartphones. This is the second free mobile RoadLoans.com app that Santander has launched, as it debuted the iPhone in January. As some may know, shoppers who have less than perfect credit can use RoadLoans to apply […] [Read More]

BANDON, Ore. — Subprime approvals in March showed gains for the used- and new-vehicle sides of the market, according to the latest analysis from CNW Research, which said this uptick in approvals follows what has been the trend during the last half year, the firm indicated. "As we've seen over the past six months, subprime approvals […] [Read More]

ADESA Cincinnati/Dayton has been commemorating its silver anniversary with celebrations throughout March, including various sales and events recognizing its 25 years as an auction. “We’re very excited to have achieved such a monumental milestone in the auction industry,” ADESA Cincinnati/Dayton general manager Geoff Parker commented. “Our commitment and dedication to service and quality for our […] [Read More]

OPENLANE recently highlighted that the quarter-over-quarter growth of its online remarketing services for recovery agencies grew by more than 200 percent during the first year of operation.  Officials discovered the growth rate during the last two quarters of 2010 was 230 percent. It surged even higher since the beginning of this year to 360 percent. […] [Read More]

In what could quickly catch the attention of repossession agencies, the Federal Trade Commission recently levied the largest civil penalty in a debt collection case against a collection company for allegedly using aggressive techniques that violated federal law. The commission alleged that West Asset Management violated the FTC Act and Fair Debt Collection Practices Act. […] [Read More]

When looking at February’s wholesale price movements, ADESA’s Tom Kontos urges a bit of caution. While on the surface it’s clear that there was both a sequential and a year-over-year decrease in prices, these modest declines are a bit deceiving, he argued. Kontos explained that the dealer consignment climbed absolutely and proportionately, and this trend […] [Read More]