RANCHO CUCAMONGA, Calif. — CUDL officials announced this week that they're partnering with the creator of the "Invest in America" program, which is aimed at helping financing credit union members looking to buy vehicles from General Motors and Chrysler. The partnership links CUDL and CUcorp, which rolled out "Invest in America" nationwide earlier this month. CUDL executives contend that […] [Read More]

DETROIT — ADP and Reynolds and Reynolds this week unveiled what they hope will be another successful collaboration with the goal of enhancing the loan origination process via a new company, Open Dealer Exchange. Officials described Open Dealer Exchange as a company that can improve operational efficiencies and boost brand value thanks to a better integration […] [Read More]

SARASOTA, Fla. — Leedom Management Group announced it has acquired four buy-here, pay-here dealerships in southern Georgia and has renamed them AutoMaxx of Georgia.   Chris Leedom, chief executive officer of the Leedom Group, said the acquisition will bring to five the total number of dealerships operating under his AutoMaxx banner.   "This strategic acquisition comes […] [Read More]

AUBURN HILLS, Mich. — Thanks to the U.S Treasury Department's recent decision to provide Chrysler Financial with access to up to $1.5 billion in loans, the lender can now offer zero-percent financing on select Chrysler, Jeep or Dodge models. The loans are available as part of the Troubled Asset Relief Program. Basically, qualified new vehicle customers can apply for zero-percent financing […] [Read More]

PORTLAND, Ore. — First Advantage CREDCO recently announced that it has partnered with Compli to offer a complete compliance tool set for dealers and their mutual customers. First Advantage CREDCO will combine its consumer data with Compli's on-demand compliance management software solutions. Participating U.S. dealers can benefit from a comprehensive compliance solution that will help them meet local, […] [Read More]

SYRACUSE, N.Y. — XpressCredit has struck a deal with U.S. Choice Auto Rental Systems to provide the company's dealers with an online lending platform. Basically, XpressCredit dealers can now utilize the U.S. Choice program as a way to deploy current inventory to start a car and truck rental business. Karen Trudel, chief operating officer of U.S. CARS, […] [Read More]

ATLANTA — Assurant Specialty Property, a provider of creditor-placed homeowners insurance, auto collateral protection insurance and related services, announced plans to establish a second service center in Duluth, Ga. The new facility will be used to accommodate the company's growing auto collateral protection insurance business and vehicle title tracking operations. The company also operates service centers […] [Read More]

CARY, N.C. — Due to inclement weather, the offices of Cherokee Automotive Group, publisher of the SubPrime News Update and Auto Remarketing Today e-newsletters, have closed on Tuesday. Because of this, there will be no Wednesday edition of Auto Remarketing Today. Publication is scheduled to resume with the Wednesday edition of Used Car Manager Weekly e-newsletter. We appreciate […] [Read More]

PALISADES PARK, N.J. — For dealers who may have had to deal or sell to a customer who is worried about their ability to continue making payments, there is a new product designed to help — a Vehicle Repurchase Guarantee. Vehicle Repurchasing Corp.'s "Vehicle Repurchase Guaranty" is administered by OSC Omega Service Corp.  According to officials, OSC […] [Read More]

NEW YORK — As part of becoming a bank holding company, GMAC Financial Services announced some changes to its board of directors, including the resignation of chairman J. Ezra Merkin. Pursuant to the Federal Reserve System's order, GMAC's Board will be reconstituted no later than March 24. GMAC's new seven-member board will consist of the GMAC […] [Read More]