SANTA MONICA, Calif. — Due to the popularity of the Internet, Scott Painter, chief executive officer of Zag, predicts that at least one-third of today's dealers will be out of business in five to 10 years. According to Painter, the key to continued success at the dealer level is providing consumers a "superior experience." Zag […] [Read More]

WASHINGTON D.C. — The U.S. economy will see continued moderate growth through 2008 as the housing market stabilizes, according to the American Bankers Association Economic Advisory Committee. The committee agreed that the drag from homebuilding will fade and that overall economic growth will pick up through the end of this year and into 2008. "The […] [Read More]

DALLAS — Manchester recently announced it has appointed a senior vice president of operations, a senior vice president and chief accounting officer, and a communications director. The company recently named Rex Gossett as senior vice president of operations. His focus will be on the company's buy-here, pay-here business. Gossett worked in the BHPH industry for […] [Read More]

ORLANDO, Fla. — Aimbridge Lending Solutions, an integrated provider of multi-channel, multi-lender auto buying and lending services, announced it has introduced an expanded suite of direct lending products at the Florida Credit Union League Annual Convention and Exposition. AimbridgeConnect said it now offers complete front-end lending with direct, indirect and Web-based solutions based on its […] [Read More]

IRVINE, Calif. — The average balance of an open auto loan is $15,654, according to a study released this week by Experian Consumer Direct. The company also discovered that 28 percent of the U.S. population, based on 2000 Census results, has at least one auto loan or lease on file. Company officials went on to […] [Read More]

BATON ROUGE, La. — AppOne announced it has partnered with Thrifty Car Sales. As part of this relationship, AppOne said it will provide its auto financing platform to Thrifty Car Sales dealers, with several programs specifically tailored to the needs of Thrifty dealers. Thrifty Car Sales provides a variety of services to its dealers, including […] [Read More]

WASHINGTON D.C. — Chrysler Financial and the ASPIRA Association, a national non-profit organization devoted to the education and leadership development of Latino youth, recently announced they are partnering to provide a financial education and vehicle financing education program catered to young Latinos. The curriculum for The ABCs of Financing will be available online in both […] [Read More]

WASHINGTON, D.C. — The American Financial Services Association announced that its 12th Vehicle Finance Conference and Expo is slated for Feb. 6 to 8 at The Palace Hotel in San Francisco, Calif. The meeting will take place just before the National Automobile Dealers Association's Annual Convention, which will be held February 9 to 12 at […] [Read More]

ARLINGTON, Va. — In its annual report, which covers input from a variety of auto finance lenders, including several that work in the nonprime arena, the Consumer Bankers Association discovered that the average FICO score on a new vehicle has declined, while the average score on a used vehicle has increased. Benchmark Consulting International compiled […] [Read More]

PHOENIX, Ariz. — DriveTime announced that it has filled two management-level positions. Tonsa Price-Edwards has joined the company as director of retail operations, and Deborah Powell will serve as director of human resources. "Our director of retail operations and director of human resources roles are critical to our success, both from a financial and cultural […] [Read More]