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SPONSORED EPISODE: The Buy Online Shift & What Dealers Need to Know Now
In this sponsored episode of the Auto Remarketing Podcast, Cox Automotive’s Jeri Reichel joins us to speak to the evolving Buy Online experience. She shares more about how shopper expectations are changing and what dealers should understand and do as ... Listen Here
The Spark Between EVs & CPO
In light of electric vehicle maker VinFast launching a certified pre-owned program in the U.S., Auto Remarketing senior editor Joe Overby connects with leaders from the EV space to discuss why the segment is a natural fit for CPO and ... Listen Here
Vincenzo Ciampi of iA Financial Group
Next up on the Canada’s Used Car Week Live Stage is Vincenzo Ciampi . who is senior vice president, of auto finance and dealer services for Canada at iA Financial Group. Ciampi talks with Cherokee Media Group’s Joe Overby about ... Listen Here

Current Auto Loan Balances Reach New High at $884B

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SubPrime Auto Finance News Staff
Driven in part by the increasing retail price for vehicles, the latest Equifax National Consumer Credit Trends Report showed the total outstanding balance of current auto loans reached a new record high in April. Equifax determined outstanding balances closed April ... [Read More]

Former Ally Financial Legal Counsel Joins BuckleySandler

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SubPrime Auto Finance News Staff
Financial services and criminal and civil enforcement defense law firm BuckleySandler recently added the former legal counsel with Ally Financial to its stable of attorneys. Joining the firm as a counsel in its Washington, D.C., office is Marshall Turner Bell. ... [Read More]

5 Tips to Help Buyers During Financing Process

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SubPrime Auto Finance News
In an effort to provide dealers and F&I managers with more educational material so buyers can make better decisions, Americans Well-informed on Automobile Retailing Economics (AWARE) offered five helpful vehicle finance tips for consumers. Those recommendations included: • Budgeting helps ... [Read More]

Average Terms Hit 66 Months for First Time

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SubPrime Auto Finance News Staff
As the subprime financing market continues to expand, Experian Automotive determined that loan terms continued to lengthen with the average automotive loan term reaching 66 months for the first time. According to Experian’s latest State of the Automotive Finance Market ... [Read More]

Available Credit and Long Terms to Drive May New-Car Sales Higher

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SubPrime Auto Finance News Staff
Edmunds.com is projecting that seasonally adjusted annual rate for new-vehicle sales this month will increase thanks to the favorable financing conditions that still are in place. Site analysts forecasted that 1,547,771 new cars and trucks will be sold in the ... [Read More]

Report: Franchised Dealers Spent $3.2B on Compliance in 2012

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SubPrime Auto Finance News Staff
Here are more numbers showing just how much of a bite regulatory compliance is taking out of franchised dealers’ profitability apple — especially for what it takes to legally operate the F&I office. A new report released by the Center ... [Read More]

NAF Association Survey: Competition Clearly Intensifies

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SubPrime Auto Finance News Staff
The National Automotive Finance Association released the results of its revamped invitation-only member survey this week during its 18th annual Non-Prime Auto Financing Conference. While the survey asked the 22 participating finance companies to complete questions about originations, marketing and ... [Read More]

CPS to Pay $5.5M to Settle FTC Charges

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SubPrime Auto Finance News Staff
The Federal Trade Commission said Thursday that Consumer Portfolio Services will pay more than $5.5 million to settle charges that the subprime auto finance company used “illegal tactics” to service and collect consumers’ loans, including collecting money consumers did not ... [Read More]

Credit Scores for Retired Military Buyers at Highest Point in 3 Years

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SubPrime Auto Finance News Staff
CNW Research indicated vehicle financing approvals for subprime buyers are down a bit this month compared to a year ago but are up slightly compared to April. The latest edition of the firm’s Retail Automotive Summary showed subprime approvals are ... [Read More]

The Next Up Extends Solution into Finance Office

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SubPrime Auto Finance News Staff
The Next Up, a retail sales process aimed at improving dealership sales, announced the extension of The Next Up Web-based system to include applications for a dealership’s finance and service departments. Designed to create added accountability in the finance and ... [Read More]

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