LAKE SUCCESS, N.Y. — At its Innovation Conference in Las Vegas, DealerTrack announced the launch of a new leads program for dealers. The company has introduced DealerTrack Leads Network, which allows dealers to purchase leads at market price. "We believe the new DealerTrack Leads Network could revolutionize the automotive leads business by giving dealers greater control […] [Read More]

LAS VEGAS — This week, RouteOne announced the winners of the Captive and Non-Captive 'Funder of the Year' awards in Las Vegas. For the second straight year, readers of F&I magazine (which voted for their favorites) selected GMAC and Wells Fargo Auto Finance to receive the awards. The awards are designed to honor the finance sources' […] [Read More]

RANCHO SANTA MARGARITA, Calif. — Finance Express recently announced an addition to its platform. Joining Finance Express is Consumer Portfolio Services. CPS is a specialty finance company that provides indirect auto financing to borrowers with past credit problems, low incomes or limited credit histories.   CPS is one in a series of many new lenders to join the […] [Read More]

DENVER — SmartMove Auto announced that it has completed a $30 million debt financing. The company has a chain of used stores that focus on subprime customers through buy-here, pay-here and rent-to-own business models. Morgan Keegan & Co. acted as sole placement agent and financial adviser for the debt facility. The $30 million secured financing enhances […] [Read More]

ALEXANDRIA, Va. — U.S. consumer bankruptcy filings increased 17.3 percent nationwide in August from the previous month, according to the American Bankruptcy Institute. Overall consumer filings totaled 74,607 in August, up from the 63,600 filings in July, the group said, relying on data provided by the National Bankruptcy Research Center. The figure was also up 31.2 […] [Read More]

CARY, N.C. — Remarketing of subprime portfolios will enjoy the limelight at the upcoming National Remarketing Conference.  Leading a workshop and imparting their insight will be Neil Boardman of Regional Acceptance Corp., and John Scordo of Universal Special Auto Finance. They will explore the challenges and the opportunities within the remarketing cycle of a subprime […] [Read More]

FARMINGTON HILLS, Mich. — RouteOne announced that the Automotive Dealership Institute will now include its Web-based credit application management system as part of the core curriculum for students enrolled in ADI's F&I Management Program. RouteOne will be included as a permanent component of ADI's F&I Management Program, as well as the printed version of ADI's resource […] [Read More]

ST. JOSEPH, Mo. — Systems & Services Technologies, a subsidiary of JPMorgan Chase, recently appointed Larry Chiavaro as its vice president of sales. Prior to joining SST, the 20-year veteran of the finance industry held senior management positions at GE Capital,  Household/HSBC Auto Finance and Novastar Financial, where he created and developed financial strategic alliances, private […] [Read More]

FORT WORTH, Texas — While the subprime mortgage market continues to falter, it doesn't appear to be impacting solid, subprime auto finance companies who want to tap the credit markets to support their business. An example of this is AmeriCredit, which announced a $1 billion asset-backed securitization under its automobile receivables trust, which primarily covers […] [Read More]

LAKE SUCCESS, N.Y. — DealerTrack announced it has added several enhancements to its DealWatch compliance product that are designed to enable dealers to electronically capture, store and manage all of a store's customer-related documents. These updates include DealWatch's new external document functionality, which is now available nationwide. This feature allows DealWatch subscribers to scan, upload and […] [Read More]