PHOENIX — Chase Auto Finance and Manheim Inspections announced today that Chase will assist Manheim in introducing InSight ECR to help dealers make better decisions about buying used cars for resale. With help from Manheim, Chase said it is becoming the first commercial auto remarketer to offer Manheim Insight ECR — full-disclosure electronic reports — at both Manheim […] [Read More]

BOZEMAN, Mont. — Zoot, a provider of advanced instant credit decisioning and loan origination solutions, recently announced the development of a Red Flag solution suite. Based on industry best practices, Zoot said it has created a unique set of tools to help consumer credit granters comply with Red Flag regulations. Section 315 and Section 114(B) of […] [Read More]

FARMINGTON HILLS, Mich. — Autosave, a five-year/100,000 mile warranty program provider, recently announced the national rollout of its Save a Deal Program. The program provides approved financing to all Autosave dealer customers, regardless of credit history or rating. Paul Pawlusiak, president of Autosave, said, "We are delighted to continue offering dealers strategic programs to help deliver […] [Read More]

WASHINGTON — The last time the average interest rate for new-car loans at auto finance companies climbed above 5 percent was in the second quarter of last year. In fact, the median rate hasn't beaten this February's figure since 2005 when it was 6.02 percent, according to the Federal Reserve.  The latest statistics found that February's average interest […] [Read More]

WASHINGTON — The National Title Solutions Forum is merging into the American Financial Services Association to form a new committee of professional interest under the association's Vehicle Finance Division. The goal of this new move is to create a new entity dedicated to improving the titling process, according to officials. The new forum indicated that it will […] [Read More]

FARMINGTON HILLS, Mich. — RouteOne announced today that more than 10,000 dealers are now subscribed to its Vehicle Values tool since the product's launch in late 2006. According to officials, this is almost double the amount of subscribing dealers since February of this year. The Vehicle Value tool is integrated with values from the N.A.D.A. Official […] [Read More]

HOUSTON — With less than 30 days remaining before the 10th Annual National Buy-Here, Pay-Here Conference on May 6 to 8 in Las Vegas, I have received numerous calls regarding the event. The most frequently asked questions and my responses follow: Question 1: Given the very difficult economy, should I spend the time and money to come […] [Read More]

CHICAGO and FORT MYERS, Fla. — How is the current economic climate impacting independent dealers? To answer this question, SubPrime Auto Finance News recently talked to a few independent dealers who work in the subprime arena, asking about the challenges they are facing and what they are doing to overcome these obstacles. Up North Kicking it […] [Read More]

ALEXANDRIA, Va. — Despite the tough means test, the American Bankruptcy Institute reported that due to economic issues, particularly those in the mortgage sector, consumer bankruptcy filings jumped 27 percent nationwide during the first quarter, compared to the same period in 2007. And for the first time, Federal Reserve Chairman Ben Bernanke stated Wednesday that […] [Read More]

MIAMI — With some manufacturers and dealers now offering 84-month financing on auto loans, this could lead to more consumers ending up in negative equity, according LeaseTrader.com. Consumers who accept these terms are at particular risk with the current consumer credit situation, the company pointed out. LeaseTrader.com went on to compare the type of problems these […] [Read More]