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SPONSORED EPISODE: Greenville Auto Auction Celebrates 16 Years—A look back and a look ahead
On this sponsored episode of the Auto Remarketing Podcast, Bill Zadeits visits with Billy Willis and Kevin Stallings of Greenville Auto Auction. The auction celebrates 16 years in early September, and the guys talk about the history of the sale, ... Listen Here
Wide-ranging car-business conversation with Lotlinx chairman and CEO Len Short
Lotlinx chairman and CEO Len Short firmly believes car dealers are the most resilient operators in any business. During this episode of the Auto Remarketing Podcast, Short explained why he is anticipating dealers showing that resilience again because it’s needed ... Listen Here
Path to delivering education in Spanish with Ignite Dealer Compliance Group
Steve Levine has dozens of dealer clients with Spanish as their native language. Those dealers also have hundreds of Hispanic customers who cannot speak or understand English. To fill compliance and training gaps created by language challenges, the owner of ... Listen Here

S&P/Experian: Auto Loan Defaults Tick Up Slightly From Record Low

Nick Zulovich
NEW YORK — After establishing a new record low in June, analysts from S&P Dow Jones Indices and Experian noticed the auto loan default rate ticked up slightly in July. According to S&P/Experian Consumer Credit Default Indices, the auto loan ... [Read More]

Ally Makes Private Placement of Common Stock and Plan to Repurchase Securities from US Treasury

Nick Zulovich
DETROIT — Ally Financial took another step on Tuesday toward its full repayment of the U.S. Treasury in moves the company believes "will further strengthen the common equity base." Ally entered into agreements with certain investors providing for a private ... [Read More]

AFS Acceptance Acquires Portfolio and Intellectual Property from PACCO

Nick Zulovich
FORT LAUDERDALE, Fla. — AFS Acceptance — a full-service auto finance company serving the subprime financing needs of franchised and independent dealers — recently acquired the assets and intellectual property of Preferred Automobile Credit Co. (PACCO), a Pennsylvania-based auto finance ... [Read More]

Global Lending Services Taps Former AmeriCredit Executive to Be CIO

Nick Zulovich
ATLANTA — Subprime auto financing provider Global Lending Services recently appointed a chief information officer. Tapped for the position was Michael Miller, who has spent more than 20 years serving in corporate-level positions for both public and private organizations. Miller ... [Read More]

DriveTime’s Q2 Revenue & Unit Sales Climb but Margins Still Soften

Nick Zulovich
PHOENIX — Despite a 20.7-percent increase in total revenue and an 18.3-percent jump in unit sales, DriveTime Automotive Group explained why its gross margins still softened during the second quarter. According to reports filed with the Securities and Exchange Commission, ... [Read More]

CNW: August on Pace for ‘Solid’ Month of Used Sales

Nick Zulovich
BANDON, Ore. — Based on the first 15 days of the month, CNW Research is projecting that August will be a "solid" month for used-vehicle sales. The combination of retail metal turning at franchised and independent dealerships as well as ... [Read More]

AFSA Offers Recommendations on Proposed Rule Implementing NY Lien Release Law

Nick Zulovich
WASHINGTON, D.C. — The American Financial Services Association recently sent a letter to the commissioner of the New York State Department of Motor Vehicles on its proposed regulations implementing A. 1346-C. AFSA explained the law, enacted in December of last ... [Read More]

Toyota Financial Services Expands Student Scholarship Program to $1 Million

Nick Zulovich
TORRANCE, Calif. — Toyota Financial Services recently recognized 100 high school students who overcame considerable hardships on their paths to college, presenting them with $1 million in scholarships. Officials highlighted this is the first year in which TFS expanded its ... [Read More]

CPS Likes Staffing Level as Originations Grow

Nick Zulovich
IRVINE, Calif. — As Consumer Portfolio Services continues to buy more contracts, the company believes it's in a good personnel position to handle more originations while the subprime auto finance segment gains steam. CPS recently reported that it purchased $203.8 ... [Read More]

New York Fed: Auto Loan Balances Increase for Ninth Straight Quarter

Nick Zulovich
NEW YORK — In its latest Household Debt and Credit Report, the Federal Reserve Bank of New York determined total auto loan balances in the second quarter increased $20 billion from the previous quarter, the ninth consecutive quarterly increase and ... [Read More]

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