WASHINGTON, D.C. — In yet another example of the government's crackdown on deceptive auto practices, a Wyoming used-vehicle dealer was convicted in a Cheyenne, Wyo., federal court late last week for conspiracy, five counts of odometer tampering and five counts of securities fraud related to fraudulent motor vehicles titles. Randy Lee (aka Jimmy Lee) was found […] [Read More]

DETROIT and IRVINE, Calif. — Autobytel and Autodata Solutions recently revealed a partnership that links the vehicle listing site with additional content to boost value. Now Autobytel's family of Web sites will have access to Autodata Solutions' professional still image vehicle photography and comprehensive data for U.S. vehicles. The collection contains an average of 17 interior […] [Read More]

WALTHAM, Mass. — IMN, the provider of the communication solution Loyalty Driver to more than 1,200 dealers, recently appointed a new vice president of automotive services. Moving into the role is Brian Epro, who is being asked to enhance the solution's position in the industry. Loyalty Driver launched back in 2004. Company executives noted the Epro […] [Read More]

EDEN PRAIRIE, Minn. — GE Capital Fleet Services recently discussed the latest successes of its Hybrid and Alternative Fuel Vehicles Rebate Program. Last year, the company processed more than $2.5 million in rebates for customers. Since the company launched the program back in 2007, GE Fleet Services indicated it has approved more than $10 million in […] [Read More]

SOUTH AMBOY, N.J. — DCH Auto Group asked its dealerships to be creative to generate funds for relief efforts in earthquake-hit Haiti. Some stores responded with a campaign centered on carnations; another focused on the chance to dress down. At DCH Tustin Acura in Tustin, Calif., the dealership ran a campaign called, "Carnations for Donations." Customers […] [Read More]

REDWOOD CITY, Calif. — In an effort to help lenders save costs, OPENLANE and the American Recovery Association recently created a program to sell repossessed vehicles online. The centerpiece of the remarketing program is providing recovery agents the chance to auction vehicles online for lenders directly from their lots. Officials from both organizations contend that their program can help […] [Read More]

FARMINGTON HILLS, Mich. — RouteOne recently completed an integration to process credit applications electronically for a North Carolina-based lender. Dealers who conduct lender services through Regional Acceptance Corp. can now use RouteOne's platform for a reduced fee. Regional Acceptance is a wholly owned subprime lending subsidiary of BB&T Corp., a financial holding company with assets in excess […] [Read More]

SOUTHFIELD, Mich. — While Credit Acceptance announced last week that it intended to offer $225 million of first priority senior secured notes due in 2017, the company came back out this week saying that it has priced $250 million of these notes. The issue price is 97.495 percent of the principal amount of the notes. The […] [Read More]

HOUSTON — After being cautious amidst the turmoil of the economy, First Investors Financial Services' chairman and chief executive officer told SubPrime Auto Finance News on Monday that his company is growing again, including expanding both originations and dealer base. While he couldn't give specifics about the planned growth, he said it will be done in […] [Read More]

IRVING, Texas — Steadily rising amounts of auto loan defaults aren't necessarily translating into plenty of business for all repossession agents. That's the assessment of Les McCook, executive director of the American Recovery Association. In fact, McCook shared recent conversations with member agents and other industry leaders that revealed two startling assessments. He indicated that often […] [Read More]