CHARLOTTE, N.C. — Sonic Automotive announced Tuesday that it entered into new syndicated credit facilities with several financial institutions that mature in August 2012. Furthermore, company executives noted that new floor plan arrangements with several manufacturer-affiliated finance companies for both new and used vehicles have been added as well. They pointed out these new lending arrangements […] [Read More]

CLEARWATER, Fla. — Nicholas Financial recently announced that the company has reached a new agreement with its consortium of lenders to increase the size of its credit line from $115 million to $140 million. The new contract extends the maturity date to Nov. 30, 2011, and adds Wells Fargo Preferred Capital as a new participant in […] [Read More]

LAKE SUCCESS, N.Y. — DealerTrack will host a free Webinar for dealers covering compliance and online marketing strategies on Jan. 20. The online seminar will highlight best practices for developing a program to minimize identity theft and compliance risks that can arise whenever dealers take credit applications, whether online or on-location. Some of the topics will […] [Read More]

ESCONDIDO, Calif. — There is no doubt the recovery industry like many industries has been hit hard from the current economic environment. While people may assume a down economy equals more repossessions, that isn't the case. On top of one of the worst economic climates in history, low fees, contingent work and no compensation for investigations […] [Read More]

CITRUS HEIGHTS, Calif. — Sparked by endorsements and substantial growth last year, Repo Remarketing expanded its executive team by adding a pair of industry veterans. Assuming the role as vice president of market development is Dorothy Drake, who has a total of 30 years of industry experience. The majority of Drake's career, more than 20 years […] [Read More]

CARTERSVILLE, Ga. — ABC Atlanta/Redtop Auto Auction recently held its sixth anniversary sale, where it offered more than 1,100 vehicles for sale and gave away a NASCAR truck as a grand prize in its raffle. Officials called the event a "huge success," as 640 of the offered units were sold. The Toyota truck — which was sponsored […] [Read More]

CHARLESTON, S.C. — Two well-known industry veterans have joined together to launch American Auto Auction Group. The company is headed up by Keith Lelux, as director and chief operating officer, and Steve Simon, as director and chief executive officer. American AA Group is debuting with two auction properties, both of which are located in the Southeast: Charleston Auto Auction (Moncks Corner, […] [Read More]

CARY, N.C. — For dealers looking to gain tips from executives at some of the industry's top companies, time  is running out. Close to 600 attendees have already registered for the second Webinar in the Auto Remarketing Training Series, which is free to all dealers and will be held Tuesday from 2 p.m. (EST) to 3:30 […] [Read More]

YONKERS, N.Y. — Consumer Reports released its 2010 Car Brand Perception Survey, and coming in at the top, yet again, was Toyota. As some may know, the publication bases its scoring of individual brands on how they are viewed by consumers in seven categories. These include safety, quality, value, performance, design/style, technology/innovation, and environmentally friendly/green. Officials emphasized […] [Read More]

SANTA MONICA, Calif. — An agreement reached late last week integrates TrueCar's new-vehicle information into HomeNet Automotive's online inventory marketing solution. Company officials explained that the partnership also means HomeNet will insert TrueCar pricing tools and window brochure functionality into its flagship solution. That's HomeNet's Inventory Online Internet Marketing Suite. As the partnership evolves, TrueCar and […] [Read More]