BANDON, Ore., and CHICAGO — Part of the reason CNW Research projected used-vehicle sales to climb by more than 8 percent this month is the soaring number of subprime loan approvals. According to the firm's September Retail Automotive Summary, subprime ... [Read More]

NEW YORK — A recent report by Standard & Poor's Ratings Services reiterated that the U.S. subprime auto finance market is growing again and — despite some potential risks — its near-term growth prospects look good. As increased capital flows ... [Read More]

IRVING, Texas — Specialty auto finance company Exeter Finance Corp. announced the completion of its second rated term securitization late last week, issuing $300 million in notes backed by subprime auto installment receivables. The company indicated the notes were purchased ... [Read More]

DES MOINES, Iowa — Iowa attorney general Tom Miller recently announced one of the state's independent dealers has agreed to stop what was alleged to be illegal repossessions of vehicles. In an agreement with the consumer protection division, called an ... [Read More]

SACRAMENTO, Calif. — A little more than a week remains for Gov. Jerry Brown to possibly veto the California buy-here, pay-here dealer regulation. Should Brown choose neither to sign nor to veto the three bills, the measures still would become ... [Read More]

ORWIGSBURG, Pa. — Preferred Warranties recently rolled out a new app so dealers can use iPads to customize and compare protection plans, financing options and insurance products for customers anywhere on the lot and at any time during the sales ... [Read More]

IRVINE, Calif. — Consumer Portfolio Services announced earlier this week the closing of its third term securitization of the year. The transaction also is CPS' sixth senior subordinate securitization since last year. In the transaction, officials tabulated that qualified institutional ... [Read More]

CHARLOTTE, N.C. — Though many say the potential for using social media for sales has not been tapped into yet, social media application company xChange Automotive said it has released a product that may take a step in that direction. ... [Read More]

NEW YORK — Coming off a historic low, the auto loan default rate ticked higher last month, according to August data reported by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices. The auto rate edged ... [Read More]

DAYTON, Ohio — Reynolds and Reynolds recently announced that the U.S. Patent and Trademark Office has issued two U.S. patents relating to docuPAD, the F&I selling and document processing system for dealerships. Officials reiterated docuPAD is a menu-driven, interactive F&I ... [Read More]