One of the things I love about being a dealer is that no two days are ever the same. Maintaining and growing a business requires constant vigilance and engagement with manufacturers, employees, vendors, and so many others. In the middle ... [Read More]

Ally Financial began trading on the New York Stock Exchange Thursday as the U.S. Department of the Treasury agreed to sell 95 million shares of common stock at a price of $25 per share in a plan to generate $2.375 ... [Read More]

Black Book highlighted that its latest used-vehicle depreciation data, coupled with this year’s harsh winter, will push certain seasonal sales into April, possibly extending the tax seasons for dealers and finance companies that cater to subprime buyers. Analysts reported this ... [Read More]

Credit union vehicle buying resource GrooveCar Direct formed partnerships with four national credit unions this week. The newest additions to the service provider’s network include —Corporate America Family Credit Union of Elgin, Ill. —First Alliance Federal Credit Union based in ... [Read More]

With only about a month of data and originations in the portfolio, CarMax leaders are still waiting for more seasoning and growth to occur before making a significant evaluation of their new subprime financing initiative they launched at the beginning ... [Read More]

The performance of vehicle installment contracts improved slightly in the fourth quarter, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin released today. As the economy improved and consumers conscientiously managed their finances, analysts found the composite ... [Read More]

Following emotional U.S. House committee testimony by a senior enforcement attorney at the Consumer Financial Protection Bureau about alleged discrimination happening within the agency, the bureau’s director said the agency has “been doing some hard thinking” about its diversity policies. ... [Read More]

CNW Research reported that March used-vehicle sales rebounded significantly versus the previous month in part to a surge of subprime buyers during the peak of tax season. Monthly used-vehicle sales surpassed 3 million units for the first time this year ... [Read More]

During a speech last week to the American Bar Association, Richard Cordray again described the rule-making process the Consumer Financial Protection Bureau uses. The director also touched on a new project labeled, “regulatory implementation.” When creating new or modifying current ... [Read More]

Allstate Credit Acceptance recently announced its plans to offer bids for near-prime and prime auto loan portfolios. Officials indicated pools that will be considered for purchase must have a minimum balance of $30 million and can run up to $200 ... [Read More]