ATLANTA — Navigation Capital Partners, a leading Atlanta-based middle market private equity firm, recently announced that O.G. Greene joined the firm as an operating partner and will serve on the board of Exeter Finance Corp., a non-prime auto finance company.  Greene comes to Navigation with more than 30 years of experience from the financial services, banking […] [Read More]

HANOVER, Md. — In addition to releasing the names of speakers and sessions for the upcoming National Auto Finance Association's annual Non-Prime Auto Financing Conference, the executive director also announced that a new association will be forming in conjunction with the event. A meeting to form the new trade association for the starter interrupt/GPS industry will […] [Read More]

LONDON — In its May SEC filing, HSBC mostly discussed the challenges with its mortgage business and what it is doing to turn this segment around; however, it also mentioned the U.S. vehicle finance business, indicating this unit is being trimmed down. "Beyond the mortgage and credit card actions discussed above (in the SEC filing), we […] [Read More]

LOUISVILLE, Ky. — Military Assistance Co. announced that it completed the first major Web site update since its initial launch in the fall of 1999. According to officials, the primary objectives of this site revamp included improving user experience, enhancing operating efficiency and boosting security measures. Developers and planners spent the better part of a year […] [Read More]

DETROIT — According to Comerica Bank, consumers are likely reducing the average cost of vehicles by simply turning to smaller models. Dana Johnson, chief economist of Comerica Bank, pointed to this as a possible trend after the latest auto affordability index came in at the best in six years. The purchase of an average-priced new […] [Read More]

ARLINGTON, Va. — Reflecting the current economic landscape, the Consumer Bankers Association's 2008 Automotive Finance Study found that delinquencies climbed 6 percent for new vehicles and 13 percent for used. While the study generally focuses more on the prime credit spectrum rather than non-prime, it is still indicative of what the marketplace is doing. For non-prime […] [Read More]

LAS VEGAS — During this week's National Alliance of Buy-Here, Pay-Here Dealers conference, Tom Kontos, ADESA's vice president of customer strategies and analytics, offered his analysis of the marketplace. He started off his presentation by talking about the presidential candidates and what they can be compared to. For McCain, Tom likened him to a "volcano." He […] [Read More]

LAS VEGAS — Operators discussing best operating practices took the stage this week at the National Alliance of Buy-Here, Pay-Here Dealers convention. Several operating managers came together this week to share insights with the audience in the panel titled "Best Operating Practices Panel." These executives included Clay Cooley, of Clay Cooley Motor Co., in Dallas; John Linnehan, […] [Read More]

LAS VEGAS — Day two of the National Alliance of Buy-Here, Pay-Here Dealers' conference was filled with recognition, the latest BHPH benchmarks, motivational speeches and more. One of the highlights of the day was Ingram Walters, dealer and co-host of the event, honoring Ken Shilson for his decade of BHPH support. This is Shilson's 10th year […] [Read More]

LAS VEGAS — The last day of the National Alliance of Buy-Here, Pay-Here Dealers conference will take place today. Panels will include topics such as improving underwriting and collections, capital markets, avoiding compliance pitfalls and more. Ken Shilson, founder of the NABD; Ingram Walters, dealer and co-host; and Frances Chatman, operations manager for Cavenaugh Auto Group, will […] [Read More]