December's reading for the auto loan segment of the S&P/Experian Consumer Credit Default Indices is squarely in between the level analysts spotted a month earlier and during the closing month of 2012. S&P Dow Jones Indices and Experian reported that ... [Read More]
The Association of Finance & Insurance Professionals revealed the pricing structure for its basic, senior and master certification courses. AFIP said wholesale prices will increase to $695, plus shipping and handling, beginning Feb. 2. Officials indicated courses ordered on or ... [Read More]
Evidently dealers who participate in the monthly survey orchestrated by KeyBanc Capital Markets did not see the same conditions in subprime vehicle financing during December as leadership from CarMax noted. KeyBanc's survey results showed 50 percent of respondents indicated subprime ... [Read More]
According to at least one respected industry observer — Manheim's Tom Webb — the major cause of an auto loan delinquency remains a job loss. And Fitch Ratings' latest analysis of the labor market showed a rebound in a nationwide ... [Read More]
The Consumer Financial Protection Bureau reiterated its uneasy assessment of how the dealer participation system operates when one of the agency's top officials made prepared remarks and answered a handful of submitted questions during the American Financial Services Association's Vehicle ... [Read More]
Since the recent financial crisis, McGladrey manager Robert McMurray pointed out that many private equity groups and other strategic investors have pushed plenty of money into the specialty finance industry to bring solid returns to their funds. With increased scrutiny ... [Read More]
This week, Credit Acceptance Corp. announced plans to offer $300 million of senior notes due in 2021. Company officials said they intend to use the net proceeds from the offering, together with borrowings under their revolving credit facility, to redeem ... [Read More]
Now with the financial support of Westlake Financial Services, Western Funding — a subprime auto lender since 1962 — has resumed operating in full capacity. After a recent pause in loan originations following a bankruptcy proceeding, Western Funding is now ... [Read More]
The National Alliance of Buy Here Pay Here Dealers (NABD) and Cherokee Automotive Group (CAG), the publishers of Auto Remarketing and SubPrime Auto Finance News, will combine forces to launch the BHPH Report for the industry later this month. This ... [Read More]
According to at least one respected industry observer — Manheim's Tom Webb — the major cause of an auto loan delinquency remains a job loss. And Fitch Ratings' latest analysis of the labor market showed a rebound in a nationwide ... [Read More]
