CARMEL, Ind. — Given the current favorable market conditions, KAR Auction Services announced this morning that it intends to refinance a portion of its indebtedness to allow for a greater flexibility to prepay debt. "The purpose of the planned refinancing is ... [Read More]

LAKE SUCCESS, N.Y. — DealerTrack announced this morning that it has successfully completed a new four-year $125 million revolving secured credit facility, which will be used for future acquisitions and general corporate purposes. The credit facility, which includes a syndicate of ... [Read More]

CHARLOTTE, N.C. — American Honda Finance Corp. celebrated the groundbreaking earlier this week for its new North Carolina regional office. The company indicated its new facility, consisting of 25,000 square feet, will support its growing family of customers in North ... [Read More]

PORTLAND, Ore. — In addition to moving its store in Arlington, Texas, CarHop announced the grand opening of a new store in Portland, Ore.  This is CarHop's 46th store to open nationwide in its 15-year history. CarHop has now opened stores in 12 ... [Read More]

RANCHO SANTA MARGARITA, Calif. — Finance Express recently entered into a pair of contracts with dealer solution providers to activate more than 11,000 additional dealers on its lender portal. The two companies now associated with Finance Express are Wayne Reaves ... [Read More]

LAKE FOREST, Calif. — Despite production delays for some automakers, new-car sales are rising. And along with it, the number of auto loans originated is growing as more financing becomes available, according to National Creditors Connection. At the same time, credit ... [Read More]

HANOVER, Md. — The Community Auto Finance Association is looking to expand its membership of established local businesses that sell, lease and finance used vehicles. Established last October, CAFA is also hoping a new website can boost its member partnerships that ... [Read More]

HOUSTON — First Investors Financial Services Group recently named an industry veteran to be its senior vice president of marketing and originations as well as co-chief operating officer. Taking on the role is David Satterfield, who First Investors is asking ... [Read More]

TORONTO — Ally Financial and DealerTrack Canada announced today that Ally Credit Canada Limited has been added to the DealerTrack network of more than 6,000 Canadian dealers as a financing option for their customers. "The addition of Ally to the DealerTrack ... [Read More]

BOSTON — The Securities and Exchange Commission is alleging that Inofin, a subprime auto finance firm, and several of its top officers improperly raised funds through unregistered securities, among other claims. The SEC is taking the company to court over the ... [Read More]