CARMEL, Ind. — In an effort to correct misconceptions about its business, J.D. Byrider announced it has launched a new Web site at JDBFacts.com. "We see a parallel between us and Blockbuster," explained Steve Wedding, president of Byrider franchising. "When Blockbuster burst into video rentals, the business was fragmented and lacking professionalism. It changed the […] [Read More]

HANOVER, Md. — The National Automotive Finance Association and the National Association of Dealer Counsel announced they will hold educational sessions in September and October. The NAF Association will present a half-day workshop Sept. 23 at the Millennium Hotel in St. Louis. The event will be held in conjunction with the 2007 Special Finance Conference. […] [Read More]

WASHINGTON, D.C. — The American Bankers Association is encouraging bankers to participate in the fifth annual Get Smart About Credit Day, which brings banking professionals into schools to help teens learn valuable credit lessons. The event will be held Oct. 18 throughout the country. Julie Cripe, chairman of the ABA Education Foundation, which is sponsoring […] [Read More]

LAKE SUCCESS, N.Y. — DealerTrack announced Wednesday that it has purchased AutoStyleMart, which is a provider of on-demand software solutions that offers dealers the ability to procure, manage and sell vehicle accessories. Executives said the new company acquisition was designed to help dealers drive profits in a challenging marketplace. AutoStyleMart is a privately held company […] [Read More]

INDIANAPOLIS — White River Capital, a special auto finance company that acquires subprime receivables from franchised and independent dealers, announced that net income for the second quarter was $1.7 million, down from $3.6 million in the same period last year. The company said it specializes primarily in purchasing receivables for used vehicles, but also buys some […] [Read More]

NEW YORK — GMAC Financial Services reported second-quarter net income of $293 million, compared to $787 million in 2006. According to officials, strong performance in GMAC's global automotive finance and insurance businesses offset losses in the real estate finance business. GMAC's second-quarter net income generated by auto finance, insurance and other operations, excluding Residential Capital, came […] [Read More]

DEARBORN, Mich. — Ford Motor Credit announced net income of $62 million in the second quarter, down $242 million from earnings of $304 million a year earlier. The decrease in earnings primarily reflected higher borrowing costs, lower credit loss reserve reductions, higher depreciation expense for leased vehicles and higher net losses related to market valuation adjustments […] [Read More]

ATLANTA — Although women have a lot of power when it comes to purchasing vehicles, there are not a lot of resources specifically geared to help females feel comfortable with process of buying a car, explained Sheronde Glover, founder and chief executive officer of Car-Buy-Her. She came to that conclusion herself back in 2003 when […] [Read More]

WASHINGTON, D.C. — Among other trends, the Federal Reserve discovered that household credit decreased marginally since its last report. In fact, several districts observed higher delinquencies on mortgages and other consumer loans. For example, New York, Richmond, Chicago, Kansas City and San Francisco posted a declining demand for mortgages, which officials said was coupled with […] [Read More]

DALLAS — Ristken Software Services announced it has integrated rates from the Asset Protection division of Protective Life Corp. into its MenuPro product. The move was done to offer dealerships direct access to Protective's rates, in addition to rates from other providers such as Zurich, CNA Warranty and Premier Dealer Services, according to executives. Protective […] [Read More]