WASHINGTON, D.C. — An organizing body of lenders, Americans Well-informed on Auto Retailing Economics (AWARE), has released an updated version of its consumer education product. The latest edition of the Auto Financing Tune-Up Quiz is meant to cover many topics, such as where customers can obtain financing, leasing versus buying, factors that affect a monthly payment and the […] [Read More]

DALLAS — Thanks largely to end of CARS, auto affordability took a significant hit in the fourth quarter of 2009, as it required 23 weeks of median family income to buy and finance an average-priced new vehicle, according to Comerica Bank's Auto Affordability Index.  This marked a decline in affordability from revised third-quarter results, when the Index's best […] [Read More]

FORT WORTH, Texas — Late last week, AmeriCredit Corp. announced the pricing of a $600 million offering of automobile receivables-backed securities. This securitization is through lead managers Barclays Capital and Deutsche Bank Securities. Credit Suisse, UBS Investment Bank and Wells Fargo Securities are co-managers. AmeriCredit explained that net proceeds from securitization transactions are used to provide […] [Read More]

FORT WORTH, Texas — What could be described as "the perfect storm" has recently hit the recovery industry. Over the last few years, a significant increase in defaulted consumer loans has created both opportunity and need within the realm of the recovery and automotive finance industries. The opportunity to recover an increased volume of "lost" cars […] [Read More]

REDWOOD CITY, Calif. — OPENLANE and Carfax recently revealed a partnership that allows dealers to scan vehicle history reports on units going through the online auction. The announcement also means dealers can access both the Carfax Auction Quick Check and Carfax Vehicle History Reports directly through OPENLANE's site. Officials stressed that the partnership can help dealers make wiser […] [Read More]

IRVINE, Calif. — Although the automaker has thrived on its reputation for "quality," Toyota's recent recall has the potential to spiral into significant downward pressure on used values for the brand, according to Kelley Blue Book analysts. As of the end of last week, KBB had already cut the values of the affected models anywhere from […] [Read More]

ATLANTA — Wholesale values kicked off 2010 with a double-digit year-over-year increase but showed just a modest upswing from December, as the Manheim Used Vehicle Value Index has remained relatively static on a month-over-month basis since hitting a peak in September. Specifically, the index for January was 117.6, up 15.6 percent from January 2009, but a […] [Read More]

McLEAN, Va. — Analysts from NADA Used Car Guide attempted to find some clarity in both the wholesale and retail markets in connection with the ongoing Toyota turmoil. Though part of the analysis still was inconclusive, it did reveal some above average softness in wholesale prices on newer Toyota units from the 2008 and 2009 model […] [Read More]

DEARBORN, Mich. — In what the automaker has called a proactive measure to fix a "brake-feel" issue, Ford announced late last week that it has issued a recall to update the software of the regenerative brake systems on some 2010 model-year Fusion Hybrids and Mercury Milan Hybrids. "We have received reports that some drivers have experienced […] [Read More]

CHICAGO — Dealers who list their inventories on Cars.com now can reach consumers who use the iPhone because as the device's slogan goes — there's an app for that. Late last week, Cars.com rolled out a free iPhone vehicle shopping application that can help mobile shoppers search dealer inventories and private-party listings. The app, which also can […] [Read More]