BATON ROUGE, La. — AppOne, which is now a subsidiary of Wolters Kluwer Financial Services, announced late last week that Universal Special Auto Finance has joined its network of lenders. Through AppOne, Universal Special Auto Finance has the opportunity to expand its independent dealership customer base while continuing to provide financing alternatives to credit-challenged customers, officials […] [Read More]

CLEARWATER, Fla. — CIQ/Voisys, an 800 and Internet-based lead generation system serving the automotive non-prime, prime and lease markets, recently announced the release of a Virtual BDC to enhance its Internet Finance Leads Program. According to officials, the new tool guarantees immediate follow-up of all Voisys Internet finance leads. Virtual BDC is designed to help auto […] [Read More]

YORBA LINDA, Calif. — Flex Fund Financial Services recently announced that it has entered into an operating agreement with Copart. Through the agreement, Flex Fund is partnering with Copart to offer used-car floor planning services for Copart's customers, which include licensed dismantlers, rebuilders and used-vehicle dealers. With this deal, Copart will now accept Flex Fund's used-car […] [Read More]

MURRIETA, Calif. — Sekurus, which manufacturers ON TIME and other leading auto asset protections, management and tracking systems, recently announced that its headquarters has been relocated to larger California-based offices. Officials said the move was due to continuing growth and expansion of the company.  Previously headquartered in Temecula, Calif., the company's new home base is […] [Read More]

COSTA MESA, Calif. — Experian recently announced that beginning Nov. 1, it will offer consumers in all 50 states, including Washington, D.C., and U.S. territories the ability to freeze their credit reports. If a consumer opts for the freeze, it could complicate the ability for financial institutions and dealers to check credit reports. Basically, the freeze […] [Read More]

LAKE SUCCESS, N.Y. — DealerTrack announced this week that the number of active financing sources connected to its platform has hit 425, an increase of 39 percent since the end of 2006. "We are excited to reach this milestone," said Mark O'Neil, chairman and chief executive officer of DealerTrack. "In just over six weeks, we have […] [Read More]

TEMPE, Ariz. — NowAuto Group reported lower revenue for the year; however officials attributed the downturn to stricter underwriting criteria that were implemented to strengthen business in the long run. Revenue for the company's fiscal 2007 came in at $6,944,021, compared with $11,683,865, a decrease of about 40 percent from prior year's level. Officials said this was […] [Read More]

SARASOTA, Fla. — CarBiz recently announced that it purchased Calcars, the fourth largest chain of buy-here, pay-here dealerships in the country. This transaction entails the company acquiring 26 stores. Calcars' consolidated revenues for 2006 were more than $36 million, which would have increased CarBiz revenues by almost 10 times, explained Carl Ritter, chief executive officer. "I […] [Read More]

WASHINGTON, D.C. — Hudson Cook LLP, a leading provider of legal compliance services for the financial services industry, recently said it has added a new attorney to its team. Jean Noonan, managing partner of the Washington, D.C. office, announced that attorney Karen Leonard has come on board. Noonan indicated Leonard will focus on fair credit reporting […] [Read More]

WAYNE, Pa. — MaximTrak, an F&I menu system provider, recently announced that it has launched a real-time integration partnership with the Universal Warranty Corp., which is a subsidiary of Motors Insurance Corp. The integration partnership is designed to allow dealers to rate vehicle service contracts based on the VIN of the vehicle instantaneously. Officials said the […] [Read More]