The National Independent Automobile Dealers Association and Constellation Automotive Solutions announced an education and training resources partnership designed for NIADA members. Constellation plans to provide comprehensive education and training solutions for the Buy-Here, Pay-Here and Lease-Here, Pay-Here dealerships. These opportunities will include best practices with solutions for maximizing sales, collections and profitability through seminars, online […] [Read More]

EDINA, Minn. — A couple of months after opening two more buy-here, pay-here rooftops in Colorado, CarHop continued its expansion last week by adding another store in its home state. CarHop celebrated the grand opening Friday of its eighth store in Minnesota and the 45th in its BHPH network with a new facility in Duluth, […] [Read More]

DEERFIELD BEACH, Fla. — Standard & Poor's Rating Services recently reaffirmed its "strong" rating of World Omni Financial Corp. and CenterOne Financial Services LLC. The company said it has maintained this status since 2004. "Maintaining this rating during the exceptionally challenging economic environment is a true testament to the quality of service our associates deliver," explained […] [Read More]

McLEAN, Va. — After the Dodd-Frank Wall Street Reform was passed, the Fed has been tasked with two rules expanding the coverage of Regulation Z, or Truth in Lending Act, and Regulation M, the Consumer Leasing Act, to credit transactions and leases of up to $50,000, according to NADA Regulatory Affairs. Basically, TILA requires creditors to disclose key […] [Read More]

MINNEAPOLIS — Exeter Finance Corp. recently picked its provider for insurance tracking services for the company's auto finance portfolio. Exeter decided to go with van Wagenen Financial Services. Pete Siciliano, senior vice president of servicing at Exeter, explained, "We chose van Wagenen for its technological expertise and extensive experience in insurance tracking and related products. […] [Read More]

The executive committee of the California Association of Collectors accepted the resignation of president Jerry Greenblatt so he could focus on his health. The association mentioned Greenblatt has faced a number of health challenges in recent years and most recently suffered a stroke. Officials described Greenblatt as a champion of the association within the state […] [Read More]

As fuel costs climb, American Recovery Association leaders concede repossession agencies are “being dragged to the alligator pits under the weight of the recent fuel price increases.” As a result, ARA insisted it has been researching various fuel surcharge formulas since February that could be applied to the association’s business model. “Although it may not […] [Read More]

Dealer.com management announced late last week a new minority owner will acquire 30 percent stake of the dealer marketing service provider from Yellow Media. Expected to take that segment of Dealer.com is Apax Partners in a scheduled acquisition that officials believe should close in June pending regulatory approval and other customary conditions. Dealer.com explained Yellow […] [Read More]

Along with entering a new credit facility, Dealer Services Corp. of Indiana recently consummated the offering of $252.2 million of asset-backed securities due in 2014. Company officials explained the securities — issued through DSC Floorplan Master Owner Trust — are composed of $225 million of senior-secured notes and $27.2 million of subordinate-secured notes. They mentioned […] [Read More]

Late last week, Saab Automobile president and chief executive officer Jan Ake Jonsson revealed when he will retire. Jonsson’s departure from his position with Saab Automobile becomes effective when Spyker Cars N.V.’s general shareholders gather for their annual meeting May 19. The automaker stressed a search for a Jonsson’s successor has been initiated. Furthermore, Jonsson […] [Read More]