ATLANTA — Sister publication Auto Remarketing learned Thursday that Mike Broe has been appointed to the position of president and chief executive officer of Auto Auction Services Corp. AASC indicated Broe will serve in an interim capacity and will work ... [Read More]

SOUTHFIELD, Mich., and IRVINE, Calif. — Depending on who is responding, the subprime auto financing market is either growing at a sustainable pace or is leading back to poor practices such as underwriting that's too loose. As Fitch Ratings approached ... [Read More]

DETROIT — The F&I office should be busy this year based on the results of an Ally Financial survey conducted at the recent National Automobile Dealers Association Convention & Expo. More than 70 percent of participating dealers expect sales of ... [Read More]

NEW YORK and CHICAGO — Continuing a string of investment firms pushing money into subprime auto lenders, special finance paper purchaser Nationwide Acceptance Corp. recently received an injection from Prospect Capital Corp. Officials said the combined debt and equity financing ... [Read More]

WASHINGTON, D.C. — As the agency decided to extends deadline for comments on proposed modifications to its Used Car Rule, the Federal Trade Commission said its annual study of the U.S. credit reporting industry found that 5 percent of consumers ... [Read More]

ATLANTA — While analysts found the number of consumers considered to be subprime borrowers is actually decreasing in some of the nation's largest cities, Equifax's latest National Consumer Credit Trends Report showed the amount of auto loan debt rose to ... [Read More]

LAKE SUCCESS, N.Y. — Along with unveiling several mobile solution offerings during the National Automobile Dealers Association Convention & Expo this past weekend, Dealertrack Technologies and American Honda Finance Corp.  formed an exclusive, long-term strategic partnership agreement. Officials highlighted the ... [Read More]

FARMINGTON HILLS, Mich. — Along with developments connected with Dominion Dealer Solutions, RouteOne introduced FinanceConnect, a new product designed to help dealers quickly convert online vehicle shoppers into F&I customers. Officials highlighted FinanceConnect can offer dealers a customizable credit application ... [Read More]

RICHMOND and NORFOLK, Va. — Last week, Interactive Financial Marketing Group, a division of Dominion Enterprises, joined with its sister company, Get Auto, to provide dealers with extended marketing reach via the Dominion Performance Network (DPN). Officials highlighted this new ... [Read More]

BLOOMFIELD HILLS, Mich. — Penske Automotive Group isn't satisfied with F&I gross profit per retail sale in 2012 coming in at $1,000 when others franchised dealer groups have higher levels. Chairman Roger Penske explained this week that F&I is a ... [Read More]