IRVINE, Calif. — Consumer Portfolio Services revealed just before 2010 wrapped up that it closed a follow-on senior secured financing with an affiliate of Levine Leichtman Capital Partners. Executives said CPS received $20 million in incremental debt capital. They also indicated LLCP received in the transaction common and convertible preferred shares equivalent in the aggregate to […] [Read More]

BENTONVILLE, Ark. — America's Car-Mart announced Monday it has opened two new dealerships located in Tullahoma, Tenn., and Winchester, Ky. "We are pleased to announced the opening of our third location in Tennessee and our ninth location in Kentucky," said William "Hank" Henderson, president and chief executive officer of Car-Mart. "We had great success in these […] [Read More]

CHICAGO — In its quarterly analysis, TransUnion discovered that the 60-day national auto loan delinquency rate climbed 9.4 percent from the second to third quarter, largely due to seasonal shifts. The delinquency rate came in at 0.58 percent, which on the positive side, is down 28.4 percent year-over-year. "Although non-payment behavior ticked up by almost 10 […] [Read More]

MVTRAC received a significant capital injection before 2010 expired by selecting its new long-term financial partner. The license plate recognition technology provider decided to go with Village Bank & Trust, which officials said has provided $6 million in preliminary funding. MVTRAC leadership believes Village Bank & Trust adds invaluable resources and brings a wealth of […] [Read More]

The immediate past president of American Recovery Association rolled out a new full-service facilitation and management company just before the close of 2010. Jim Hall explained his plans for All Technology Recovery is to be an operation to serve collateral recovery professionals and financial institutions. He pointed out All Technology Recovery was formed in collaboration […] [Read More]

Sparking City Auto Auction of San Antonio recently celebrated its grand opening with a sale that attracted more than 300 dealers and included 300 vehicles. The facility — which was constructed in 2008 and purchased last summer by the owners of Sparkling City Auto Auction of Corpus Christi — features five auction lanes, a full-service […] [Read More]

Amid the auto industry’s severe challenges, financing struggles and the bankruptcies of two major players, the leasing market took its lumps in 2009 with many companies scaling back or pulling out of the market altogether. But 2010 was a different story.   As of the end of the third quarter, leasing was up across the board, […] [Read More]

Competition between Ally Financial and Chrysler Financial for dealer relationships and market share could heat up in the near future. The former GMAC is expected to push out an initial public offering sooner than initially anticipated by the government and Chrysler Financial just recently received renewed capital in the form of its new parent TD […] [Read More]

Auto Remarketing recently heard from CarMark Certified Pre-Owned dealers about what kind of results they are seeing with the program. One of the dealers represents an independent lot established in 1974. Another CarMark dealer joined the program after losing his franchise designation because of General Motors’ restructuring. What do both stores have in common? They’re witnessing strong success at boosting profits and customer relationships with […] [Read More]

In addition to announcing the most-searched for 2010 used vehicles on its site, CarMax revealed that comparable-store used sales climbed 16 percent for the fiscal third quarter. Explaining this uptick to investors, the chief executive officer said this figure represents the company’s strongest comparable in several years. [Read More]