NEW YORK — Bankrate.com published its weekly look at auto loan rates Wednesday. The group surveys large banks and thrifts to collect the information. According to the group, rates were up across the board. The average rate for a 48-month new-car loan grew by two basis points to 6.97 percent. Meanwhile, the 60-month new-car loan rate […] [Read More]

JACKSONVILLE, Fla. — Insurance Salvage Solutions, a leading independent insurance salvage auction in Florida, announced the opening of two facilities Wednesday. The new Florida facilities are in Auburndale and Pembroke Pines, Fla. These two facilities are designed to complement ISS's North Florida Locations creating statewide coverage throughout Florida. "Our goal at ISS is to providing tailored […] [Read More]

CLEARWATER, Fla. — Nicholas Financial recently announced it has been included on the Russell Microcap Index during Russell Investment's annual reconstitution of its family of U.S. indices, which became effective at the close of business on June 25. Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in […] [Read More]

NEW YORK — DBRS recently assigned final ratings to several non-prime classes issued by Santander Drive Auto Receivables Trust 2010-A. The ratings firm gives Santander Consumer strong marks, saying the company is maintaining the philosophy of Drive Financial. The ratings include: —Series 2010-A Notes, Class A-1 rated R-1 (high) —Series 2010-A Notes, Class A-2 rated AAA […] [Read More]

DEARBORN, Mich. — Strong sales performances and execution of other company strategies evidently are doing plenty to help Ford's balance sheet. The automaker revealed on Wednesday that it's reducing its debt by more than $4 billion. Management explained much of this newest reduction stems from retiring debt owed to the UAW Retiree Medical Benefits Trust ahead […] [Read More]

DETROIT — The top leaders of General Motors took a deep dive into the state of the automaker's global operations on Tuesday during its inaugural Global Business Conference, an event where finance industry professionals and other stakeholders gathered to hear presentations from GM chairman and chief executive officer Ed Whitacre and other executives. GM said it has […] [Read More]

VANCOUVER, Wash. — FinishFirst Auto Appearance Inc., a company that specializes in paint reconditioning services designed to help dealers get used vehicles ready for sale, is offering franchise opportunities. Specifically, the company is inviting "auto industry enthusiasts and entrepreneurs alike" to become part of the team. "As the automobile industry has evolved over these most recent […] [Read More]

AUBURN HILLS, Mich. — Chrysler Group this week reiterated claims that it's following legal procedures with dealers correctly and is "looking forward to moving beyond the arbitration process." The automaker indicated through a spokesperson that fewer than 30 cases remain to be arbitrated. As of Tuesday, Mike Palese also revealed 59 case decisions have been rendered, […] [Read More]

MEDFORD, Ore. — Lithia Motors said it took a step toward fostering growth Tuesday as it amended its revolving credit facility with US Bank. The amendments include the maturity date being pushed back almost three years, a boost to the amount on the facility and a decrease in the interest rate. More specifically, the maturity date is now June […] [Read More]

SANTA BARBARA, Calif. — Bearing in mind Ford's plans to end the Mercury brand later this year, ALG recently shared data in its latest Residual Value Report that sheds some light on what may happen to the discontinued brand's value retention.  When a brand is cut from an automaker, the three subsequent years usually show the brand losing between […] [Read More]