DETROIT and LAKE SUCCESS, N.Y. — GMAC Financial Services is being added to DealerTrack's credit application network, the two companies announced late Wednesday afternoon. The lender said teaming up with DealerTrack will help expand its customer base, as GMAC will have access to retail auto financing applications from "essentially all" dealers in the U.S. and Canada […] [Read More]

WASHINGTON, D.C. — The latest data available from the Federal Reserve showed the average interest rates for new-car loans at auto finance companies declined in December after moving upward the month before. More specifically, the Fed calculated the average interest rate in December was 3.26 percent. For November, this number came in at 3.73 percent. In […] [Read More]

PALATINE, Ill. — Executives recently revealed a new branding strategy that aligns City Auto Recovery Services, International Intelligence Agency and MVTrac. The new organization now will be known as MVTRAC and plans to continue providing vehicle intelligence networks for law enforcement, auto finance, asset recovery, transportation and other vehicle industries. "The goal of this strategic rebranding is […] [Read More]

NEW YORK — DBRS has published its final rating methodology for U.S. wholesale auto loan asset-backed transactions. The company indicated its final methodology does not have any substantive changes from the proposed wholesale loan methodology, which was published on Oct. 21 with a request for comments. Executives explained the methodology provides an overview of the key […] [Read More]

TORRANCE, Calif. — In the first month of the New Year, certified pre-owned vehicle sales showed a significant slowdown from the record-breaking numbers of January 2009, but there remained some bright spots in the market. Specifically, CPO sales reached 109,554 units in January, according to Autodata Corp. statistics. This marked a 22.2-percent decrease from the year-ago […] [Read More]

TORRANCE, Calif. — Honda announced Tuesday that it has added 378,758 vehicles in the U.S. to a previously announced recall of certain 2001 and 2002 model-year vehicles to replace the driver's airbag inflator. Specifically, the automaker added certain 2001 and 2002 Accord, Civic, Odyssey, and CR-V models to the recall, as well as certain 2002 Acura […] [Read More]

SANTA MONICA, Calif. — Analysts from TrueCar.com found significant gains in consumer consideration for a quartet of brands in the wake of recent Toyota recalls. However, they learned the average pricing trends remained mixed. The four brands that gained traction against Toyota, according to TrueCar.com, included Honda, Ford, Hyundai and Kia. "Toyota has taken a real […] [Read More]

FARMINGTON HILLS, Mich. — RouteOne announced a marketing agreement Tuesday with the Pre-Owned Automobile Dealers Alliance that allows POADA dealer members to obtain discounted access to RouteOne products and services Executives highlighted that the agreement will provide POADA dealer members complimentary access to RouteOne's industry-leading set of finance sources, available through RouteOne's credit application management platform. Additionally, POADA dealer […] [Read More]

ATLANTA and CENTREVILLE, Va. — Contact At Once and Carfax announced a partnership on Wednesday that's intended to make dealer-purchased Carfax Vehicle History Reports available when consumers chat online with dealer personnel. Dealers who use the Contact At Once online chat solution now can determine if a vehicle being discussed has a Carfax Report. A link […] [Read More]

TORRANCE, Calif. — In yet another development to the automaker's recent batch of challenges, Toyota Motor Sales, USA, announced a voluntary safety recall early Tuesday morning on its 2010 model-year Prius and Lexus HS 250h models to update the vehicles' anti-lock brake system software. Multiple reports have also indicated that the National Highway Traffic Safety Administration […] [Read More]