HANOVER, Md. — The Community Auto Finance Association is looking to expand its membership of established local businesses that sell, lease and finance used vehicles. Established last October, CAFA is also hoping a new website can boost its member partnerships that leaders believe can represent approximately 7,500 companies and their 300,000 employees, who are responsible for […] [Read More]

HOUSTON — First Investors Financial Services Group recently named an industry veteran to be its senior vice president of marketing and originations as well as co-chief operating officer. Taking on the role is David Satterfield, who First Investors is asking to be responsible for direct and indirect marketing, credit underwriting, funding and direct call center […] [Read More]

TORONTO — Ally Financial and DealerTrack Canada announced today that Ally Credit Canada Limited has been added to the DealerTrack network of more than 6,000 Canadian dealers as a financing option for their customers. "The addition of Ally to the DealerTrack Canada network provides the company with access to retail financing applications from essentially all Canadian […] [Read More]

BOSTON — The Securities and Exchange Commission is alleging that Inofin, a subprime auto finance firm, and several of its top officers improperly raised funds through unregistered securities, among other claims. The SEC is taking the company to court over the allegations and has named top officers in the lawsuit as well, including Michael Cuomo, Kevin […] [Read More]

Renovo Services, a single-source solution provider of recovery and skip-tracing services, recently named a president and chief operating officer as well as chief information officer. Kevin Flynn, Renovo Services’ chairman and chief executive officer, tapped Andrew Mahoney as president and COO. An industry veteran with stints at Alamo Rent-a-Car, JM Family Enterprises and most recently FLD, Mahoney […] [Read More]

Because of what industry veterans are calling an unusual amount of violence in conjunction with the recovery process during the past 12 months, Ron Brown recently advised members of Time Finance Adjusters about the dangers of picking up vehicles nowadays. “Shootings, stabbings and hit-and-runs are becoming commonplace,” Brown declared. “The risk to asset recovery specialists, […] [Read More]

ADESA Kansas City recently announced plans for its annual Spring Corvette and Specialty Sale, which is scheduled for later this month. The sale — which will take place April 28 through April 29 — will include a bevy of Chevrolet Corvettes and Harley-Davidson motorcycles, as well as specialty units. There will be commemorative T-shirts given out […] [Read More]

For dealers who have large Hispanic population in their market, TrueCar.com’s latest study sheds some light on what specific brands and models that most appeal to these potential buyers. The site’s study showed import brands and models dominated the Top 10 list. TrueCar.com pointed out Hispanic buyers made up 7 percent of all new-vehicle retail […] [Read More]

While it’s no secret that fuel costs often affect consumers’ vehicle choices, more than half of shoppers are apparently now saying that they won’t change vehicle size the next time they purchase, according to a recent survey from Consumers Report. What’s more, almost a fifth (19 percent) said the next vehicle they purchase will be bigger than […] [Read More]

In the latest update from the automaker, Toyota Motor Corp. decided that vehicle production from May 10 to June 3 will proceed at approximately 50 percent of normal. “As TMC continues to address its production situation in Japan following the disaster, (the company) will decide on production after this period after assessing the situation of […] [Read More]