BANDON, Ore. — The latest data from CNW Research indicates that 67.6 percent of used shoppers are looking to purchase units five years old or older. Overall, the largest percentage of used shoppers is honing in on the eight- to 12-year-old category at 34.4 percent, CNW pointed out. Next in line are consumers looking for a unit […] [Read More]

LAKE SUCCESS, N.Y. — DealerTrack announced Monday that the number of active financing sources connected to its network has reached 450. In addition to the 450 financing sources on the DealerTrack network, the company indicated that about 90 percent of franchised dealers in the U.S. are active users. "We are pleased to arrive at this milestone, […] [Read More]

ARLINGTON, Va. — The Consumer Bankers Association will host its 2008 National Automobile Finance Conference & Tradeshow March 30 to April 1 at the Hilton San Francisco in California. "For over 20 years CBA's automobile finance conference and tradeshow has been the premier event in its field," according to officials. "Drawing the top industry executives from […] [Read More]

IRVINE, Calif. — Portfolio Services recently announced that it has renewed one of its $200 million senior revolving warehouse credit facilities for a year. The company said it has $400 million in total senior warehouse capacity. "We are pleased with the renewal of our credit line in this turbulent environment," explained Charles Bradley Jr., president and […] [Read More]

WASHINGTON, D.C. — It just became easier for consumers to complain to the Federal Reserve about issues with banks and financial institutions. Earlier this week, the Fed introduced Federal Reserve Consumer Help, which is a new centralized resource that consolidates and streamlines its consumer complaint and inquiry program.   Customer service professionals are available to answer questions […] [Read More]

AUSTELL, Ga. — Kia Motor Finance Co. recently held grand opening ceremonies for its new Southeast Regional Service Center in Austell, Ga. The new center will provide full retail credit and funding services for Kia dealers in the Southern and Eastern regions and allow KMFC to service its dealers more effectively from within the Eastern Time […] [Read More]

HANOVER, Md. — This issue's theme is "Special Finance Tips and Insights." Since I do the legal stuff, you'll note the amended title to this article. Insights first: 1. From a legal standpoint, a dealer's contract and related documents (I'm not referring to "stips" and the like) used in a special finance transaction will look […] [Read More]

ORLANDO, Fla. — MenuVantage recently announced that Service Payment Plan has joined its nationwide network of active F&I providers. According to officials, SPP is a leader in administering interest-free payment plans for service contracts on new and used vehicles for both manufacturer and independent service contract providers in the U.S. and Canada. MenuVantage said by adding […] [Read More]

LOS ANGELES — As the challenges in the subprime mortgage market continue to play out, a new survey indicates that Americans shopping for car loans and other forms of credit are beginning to get nervous. The survey of 1,000 consumers was fielded in late October by market researcher Synovate of Chicago for GDEXAuto, which is otherwise […] [Read More]

PORTLAND, Ore. — As part of Compli's effort to expand legal protections for dealerships nationwide, it recently announced it has teamed up with Venable to provide California stores with the latest regulatory, compliance-related training content available. Venable, which specializes in strategic litigation prevention and compliance planning, as well as, aggressive defense of auto industry clients, […] [Read More]