BANDON, Ore. — Subprime new-loan approvals have now shown four months of increases, according to CNW Research. For October, 7.6 percent of subprime loan applications were approved, up from 6.9 percent in September and 5.7 percent in October 2009. "While still only a small percentage compared to January 2008 and before, the number of subprime new-car […] [Read More]

DETROIT — Ally Financial announced Tuesday that it is offering a national program for wholesale financing for RV dealer inventory, enhancing its preferred provider relationship with Thor Industries. Thor has about 1,200 dealers selling such brands as Airstream, Breckenridge, CrossRoads, Dutchmen, Heartland, Komfort, Keystone RV and Thor Motor Coach. "We benchmarked current options and needs in […] [Read More]

A debt collection agency is being charged with doing more than just poking a friend on Facebook. A Florida woman has filed suit against MarkOne in a Florida court claiming the company went far beyond the usual phone calls in an attempt to recoup $362 for an unpaid vehicle loan. The company allegedly contacted the […] [Read More]

Manheim recently announced that a state association of independent dealers bestowed one of its leaders with two prestigious awards at the group’s annual convention. Manheim Daytona Beach general manager Eric Wagner received the 2010 Auction Person of the Year Award from the Florida Independent Automobile Dealers Association, which also gave Wagner the association’s Silver Eagle […] [Read More]

Top executives from Digital Recognition Network and MVTRAC are taking advantage of an opportunity from the National Automotive Finance Association to educate lenders and repo agents about the capability of license plate recognition technology. The NAF Association is hosting them for an hourlong Webinar on Dec. 1 beginning at 2 p.m. EST. Cort DeHart, president […] [Read More]

Several automakers pulled out of leasing during the widespread auto and economic crises in the last two years, but it appears leasing has made a healthy comeback in 2010. Shedding some light on the current strength of leasing, CNW Research offered some insight into the lease market in its latest Retail Automotive Summary, in addition to providing Auto […] [Read More]

Wholesale values declined on a sequential basis in October and the year-over-year gains the market showed were somewhat deceptive, according to ADESA’s Tom Kontos. Specifically, the average wholesale price for the month was $9,768, which is 0.7 percent softer than September and a 3.2-percent year-over-year hike, he noted. The year-over-year increase, though, is from rather soft comparables, […] [Read More]

The general manager of Bill Kay Chevrolet in Chicago said the Internet has changed the way buyers approach sales. And the key to turning these Internet shoppers into sales is by establishing a relationship. Basically, despite all the technology available today, Ralph Conti still sees relationships as a very important aspect of the sales process. [Read More]

WomenCertified announced its new president for the WomenCertified Auto division. Appointed to the post is James Lawyer, who has significant experience in the auto industry, including his role as CarSoup.com’s head of new business development and strategic partnering. As some may be aware, WomenCertified Auto is a consumer advocate for female consumers. It aims to […] [Read More]

Kelley Blue Book revealed last week that it has launched a mobile application that can be utilized on the Windows Phone 7. Car buyers and sellers can use the app to check out KBB Values for both new and used vehicles. This information consists of such details as MSRP, invoice, fair purchase values, certified pre-owned […] [Read More]