BANDON, Ore. — As the capital markets collapsed, largely due to subprime mortgages, this caused the auto loan subprime market to crash. Subprime auto loans fell to $12.5 billion in 2008 and dropped again to $8.3 billion in 2009, according to ... [Read More]

HAUPPAUGE, N.Y. — GrooveCar rolled out a 90-day incentive earlier this month that is designed to help foster used- and new-vehicle sales in the New York metropolitan area. Basically, credit union members in this market can use the $500 online coupon from ... [Read More]

HOUSTON — The National Alliance of Buy-Here, Pay-Here Dealers announced it will host a two-day dealer training academy just prior to its annual conference. The academy will be held at the Venetian Resort and Casino in Las Vegas on May 16-17, ... [Read More]

WASHINGTON, D.C. — Stalled job growth during the third quarter of last year stifled consumer credit delinquency rate improvement that came in previous quarters, progress that included auto loans. According to American Bankers Association's Consumer Credit Delinquency Bulletin, direct auto loan ... [Read More]

ATLANTA — CAR Financial Services, a provider of capital and cash-flow solutions to buy-here, pay-here dealers, is broadening its Midwest presence. With plans to open an office in Kansas City, Mo., the company already has added Bob Coon as a territory ... [Read More]

CLEARWATER, Fla. — After receiving interest from a third party about potentially acquiring the company, Nicholas Financial announced this week that its board of directors has retained advisors to help evaluate potential strategic alternatives. These alternatives include the possible sale of the ... [Read More]

DALLAS — Santander Consumer USA, owner of the RoadLoans.com brand, announced this week it has released an iPhone application for consumers shopping for vehicles. The new app is available for free for download from iTunes or RoadLoans.com. The iPhone Car Loan ... [Read More]

LOS ANGELES — Bill Walters, vice president of remarketing at Westlake Financial Services, recently summed up some of the trends his company has been witnessing in the market. While the industry as a whole has been seeing higher prices in the ... [Read More]

IRVING, Texas — Exeter Finance Corp. announced this week that it has appointed an industry veteran to serve as its executive vice president and chief marketing officer. Taking on this position is Elizabeth Webb. She will oversee new business development, brand ... [Read More]

WASHINGTON, D.C. — The upward march by the average interest rate on new-car loans at auto finance companies reached five months in a row in November, according to the Federal Reserve. Officials indicated the November average crept up to 4.63 percent ... [Read More]