AUBURN HILLS, Mich. — A U.S. Bankruptcy Court in New York has settled a dispute between Chrysler Group and the state of North Carolina over dealers seeking reinstatement. The automaker revealed in a statement on Monday that the court brokered an agreement that indicates the state will not enforce its rejected dealer laws, measures that were […] [Read More]

LOS ANGELES — Westlake Financial Services cited the success of a recent test program with National Creditors Connection as the reason to expand a partnership with the field contact service provider. Executives highlighted that NCCI's tool helped to improve contact and payment rates of delinquent accounts by 10 to 15 percent. Westlake vice president of servicing […] [Read More]

AUSTIN, Texas — A+ Federal Credit Union, one of the largest operations in the Texas state capital, recently broadened its relationship with Wolters Kluwer Financial Services. A+FCU officials announced they're joining Wolters Kluwer's AppOne platform for indirect lending, credit approval and compliance processes. The credit union noted that it's not new to the auto finance market, but […] [Read More]

BANDON, Ore. — According to CNW Research's Art Spinella, tough economic times are dramatically driving up the growth of buy-here, pay-here lots throughout the country. "Back in the day, such operations were typically small, dusty outlets with marginal vehicles where a customer returned each week to make a payment. The dealer provided minimal transportation at somewhat […] [Read More]

CARMEL, Ind. — On Monday, ADESA announced that its subsidiary, PAR North America, has teamed up with SWBC to bring credit unions a suite of automotive asset risk and account management services. SWBC is one of the nation's largest privately held financial services and insurance companies. "As auto loan defaults continue to rise due to a […] [Read More]

MADISON HEIGHTS, Mich. — When it comes to GPS-based systems, special finance companies and buy-here, pay-here dealers need to ask themselves a simple question: "Do I want the metal or the money?" For most, it's about the money. That is why it's so curious that many of them end up using GPS systems to collect collateral […] [Read More]

ANDERSON, S.C. — Carolina Auto Auction recently commemorated 20 years of business with its annual anniversary sale last week. The celebration, which had an "On Top of The Game" theme, was part of the auction's busy spring and summer of promotions and special events. The anniversary sale, held Wednesday, was slated to include a consignment of […] [Read More]

SANTA ANA, Calif. — As the next round of hearings approach in Toyota recall litigation, prominent legal professionals nationwide are organizing for their upcoming chance to face the Japanese automaker before a federal judge next month. HB Litigation Conferences, a continuing legal education provider, revealed late last week details about a meeting of law professionals designed to thoroughly […] [Read More]

CARY, N.C. — The deadline for the Federal Trade Commission's Red Flags Rule is about six weeks away. Are you, as a dealer, compliant, and have you done all you need to do to protect your stores? To make sure you are ready when the June 1 enforcement deadline arrives, the Pre-Owned Automobile Dealers Alliance is here […] [Read More]

SANTA MONICA, Calif. — TrueCar.com analysts believe automakers are attempting to keep any economic recovery momentum going by continuing to offer generous incentive packages and discounts from MSRP on 2010 vehicles. According to the site's TrueTrends Report for April that aggregates this data, the average discount off of a new vehicle is projected to be at […] [Read More]