MCLEAN, Va. — As summer is in full swing, teens and young adults throughout the country are preparing to make the single largest purchase of their young lives — their first car. In its annual Rules of the Road survey, Capital One Financial Corp. asked these young adults what they expect to experience when purchasing […] [Read More]

HUNTINGTON BEACH, Calif. — A Triad Financial Corp. spokesperson told SubPrime Auto Finance News this week that company officials have decided to relocate remaining operational functions to their facility in North Richland Hills, Texas. After reviewing business, executives determined the move makes sense and will improve efficiencies. As part of this decision, the company said […] [Read More]

FARMINGTON HILLS, Mich. — RouteOne announced this morning that Drive Financial Services, which works in the nonprime indirect auto finance industry, has joined the growing number of finance sources on its platform. Drive Financial is a privately held company owned by Grupo Santander, which is the seventh largest global bank by profit, with a market […] [Read More]

PHOENIX, Ariz. — Dealers Auto Auction of the Southwest announced it has created an exclusive subprime lease and repossession lane for its lender clients to run vehicles. These lenders include Lobel and Westlake Financial, in addition to six other subprime lenders, with more to come. Stephanie Gingras, the facility's lease and marketing manager, is in […] [Read More]

SOUTHFIELD, Mich. — Credit Acceptance Corp. recently launched an updated corporate Web site, which is designed to better benefit dealer clients, investors and customers. The new site was created to be easier to navigate via an updated graphical layout, enhanced functionality and expanded content, executives reported. According to officials, new features on the site include: […] [Read More]

IRVINE, Calif. — In addition to discussing second-quarter financial results, Consumer Portfolio Services' officials explained exactly how their business works in their annual report. The company is an indirect specialty finance lender working in the subprime arena. For the second quarter of this year, CPS reported that it purchased $340 million contracts from dealers, compared […] [Read More]

ORLANDO, Fla. — MenuVantage announced that Assurant Solutions has joined its nationwide network of active F&I providers. The company joins more than 50 other providers, including Protective, A.U.L Corporation, LOTS, Cal-Tex Protective Coatings, SouthwestRe, CNA National, EasyCare, GE, American Financial Automotive Services and Safeguard. According to officials, Assurant is a leading provider of title administration […] [Read More]

CHESTER, Pa. — Wells Fargo Auto Finance announced it has appointed Todd Cooper, Scott Micale and David Reynolds as divisional vice presidents. During his 17 year career with Wells Fargo, Cooper has held numerous assignments in sales and credit. Cooper will head the Northwest sales division and be based in Boise, Idaho, officials said. Meanwhile, […] [Read More]

HANOVER, Md. — The Hudson Cook law firm announced a new relationship with the General Motors Minority Dealers Association. Hudson Cook, a leading law firm for the auto industry, will begin providing legal services to the GMMDA, writing articles for publication in the association's newsletter, "The Spark Plug," and conducting educational presentations at the association's […] [Read More]

GREENWOOD VILLAGE, Colo. — Universal Special Auto Finance said the national rollout of its indirect subprime auto lending is progressing smoothly and the company is now live in 13 states. Officials expect Universal to be live in nearly all states within six months. "We are in our official rollout and funding loans," Steve Norbut, vice […] [Read More]