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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

CPS Announces New Residual Financing Facility

Nick Zulovich
IRVINE, Calif. — Consumer Portfolio Services announced late last week it entered into a new $20 million, five-year residual financing facility. CPS officials explained the facility is secured by eligible residual interests in two previously securitized pools of automobile receivables. ... [Read More]

Fitch Publishes Updated US Auto Loan ABS Rating Criteria

Nick Zulovich
NEW YORK — Fitch Ratings recently published an updated asset-backed sector specific criteria report for U.S. auto loan ABS. The firm indicated the new report updates and replaces the prior criteria report published last April. "There have been no material ... [Read More]

Value Buys Hot at Auction, Brasher Reports

Nick Zulovich
SACRAMENTO, Calif. — Commenting on a potential inventory for buy-here, pay-here dealers or stores that might cater to subprime buyers, John Brasher of Brasher's Sacramento Auto Auction noted a particular used segment showed well in the lanes this past week. ... [Read More]

DriveTime Generates Sales & Origination Growth in 2012

Nick Zulovich
PHOENIX — DriveTime Automotive Group posted gains in total revenue, unit sales and originations in 2012, according to its reports filed with the Securities and Exchange Commission this week. Officials said DriveTime dealerships posted a 7-percent gain in unit sales, ... [Read More]

TriStar Freedom Guard Releases YouTube Promo Videos

Nick Zulovich
MASON, Ohio — In an effort to help dealers showcase the product to potential buyers in the F&I office, TriStar officials recently announced they have released two new promotional videos on YouTube about their vehicle service contract.  The company explained ... [Read More]

Prestige Financial Completes Largest Rated Term Securitization Ever

Nick Zulovich
SALT LAKE CITY — Prestige Financial Services completed its 11th and largest rated term securitization on Wednesday, issuing $350 million in securities backed by $353,535,758 in automobile installment receivables. In a transaction led jointly by Wells Fargo Securities and J.P. ... [Read More]

Primeritus Financial Services Exits Direct Recovery Business

Nick Zulovich
NASHVILLE, Tenn. — Primeritus Financial Services, which offers recovery management, skip-tracing and remarketing services, announced this week it has sold its remaining direct recovery repossession business. Primeritus sold the business to Connect 1 Recovery, finalizing Primeritus' exit from the direct ... [Read More]

Credit Acceptance’s Q1 Unit Volume Softens

Nick Zulovich
SOUTHFIELD, Mich. — As the lender announced an extension of its revolving secured warehouse facility, Credit Acceptance reported that its unit volume softened in the first quarter despite a 21.2-percent jump in the number of active dealers. The company indicated ... [Read More]

AFG Introduces New Technology for Residual-Based Lending Program

Nick Zulovich
HOUSTON — Auto Financial Group, an online provider of residual-based financing products for dealers and lenders since 1999, announced Tuesday that it has enhanced its balloon loan program with a new feature called the Dealer Inventory Download (DID). Officials explained ... [Read More]

Upcoming NCM Webinar to Discuss Warranty & Service at BHPH Dealerships

Nick Zulovich
OVERLAND PARK, Kan. — One of NCM Associates' trainers who specializes in the buy-here, pay-here market is going to host a 60-minute webinar explaining the different business models for the dealership and its related service operation.  During a session that's ... [Read More]

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