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The Spark Between EVs & CPO
In light of electric vehicle maker VinFast launching a certified pre-owned program in the U.S., Auto Remarketing senior editor Joe Overby connects with leaders from the EV space to discuss why the segment is a natural fit for CPO and ... Listen Here
Vincenzo Ciampi of iA Financial Group
Next up on the Canada’s Used Car Week Live Stage is Vincenzo Ciampi . who is senior vice president, of auto finance and dealer services for Canada at iA Financial Group. Ciampi talks with Cherokee Media Group’s Joe Overby about ... Listen Here
Ted Berlovich of Clutch
Continuing the discussions from the Live Stage at Canada’s Used Car Week, senior editor Joe Overby connects with Ted Berlovich, director of wholesale at online used-car retailer Clutch. Berlovich explained the company’s wholesale process, how the company handles some of ... Listen Here

Chase, Aston Martin Partner for Retail Subvention Program

Nick Zulovich
GARDEN CITY, N.Y. — To assist high-end luxury vehicle buyers, Chase Auto Finance and Aston Martin the Americas announced this week an expansion of their relationship, with the lender becoming the exclusive provider of financing for the brand's first U.S. retail subvention program. Officials explained ... [Read More]

CIVC Acquires Honor Finance

Nick Zulovich
CHICAGO — CIVC Partners, a Chicago-based private investment firm, recently joined with management and existing shareholders to acquire Honor Finance. In conjunction with this announcement, Honor revealed it has secured a new line of credit from Wells Fargo Preferred Capital. Officials recapped Honor ... [Read More]

GM Financial Set to Launch Commercial Lending for Dealers

Nick Zulovich
SCOTTSDALE, Ariz. — General Motors Financial president and chief executive officer Dan Berce put a specific date on when GM dealers can use the company for their commercial needs, not just to finance subprime buyers. Berce told an investor gathering ... [Read More]

Southside Financial to Purchase Subprime Portfolios from Dealers

Nick Zulovich
ARLINGTON, Texas — Southside Financial Group revealed Monday the launch of a program to purchase near-prime and subprime auto loan portfolios from franchised and independent dealers throughout the country. The program — launched in an effort to help dealers achieve greater liquidity ... [Read More]

TCF Financial to Acquire Gateway One by Year-End

Nick Zulovich
WAYZATA, Minn. — TFC Financial Corp. recently announced its subsidiary — TFC National Bank — has signed a definitive agreement to acquire Gateway One Lending & Finance, LLC. Headquartered in Anaheim, Calif., Gateway One is a privately held lending company ... [Read More]

Fed Offers New Update on Auto Loans at Commercial Banks

Nick Zulovich
WASHINGTON, D.C. — The Federal Reserve still hasn't restarted its monthly look at trends associated with new-vehicle loans generated by finance companies, but officials did offer August data about contracts from commercial banks. The Fed determined the average interest rate ... [Read More]

Subprime Dealer Creates Mobile App to Help Buy Most Profitable Inventory

Nick Zulovich
LAFAYETTE, Ind. — For a subprime dealer, going to auction can be particularly challenging. Not only does he need to meet his inventory needs, but the vehicles he buys also must fall within specific lender requirements. For instance, Shawn Foster, president ... [Read More]

Huntington Broadens Dealer Financing into Two New States

Nick Zulovich
COLUMBUS, Ohio — On Wednesday, Huntington announced it is expanding its auto dealer financing business into two new states, including Wisconsin and Minnesota. Huntington will begin processing applications through dealers by Oct. 24. The company expects to provide financing solutions to ... [Read More]

CarHop Hires New VP of Sales and Operations

Nick Zulovich
MINNETONKA, Minn. — Buy-here, pay-here dealership chain CarHop announced Wednesday it has hired a new vice president of sales and operations. Tapped for the position is Mike Anderson, who will lead the sales and store operations for all CarHop locations. ... [Read More]

Credit Acceptance Reveals Completion of $200.5M Asset-Backed Financing

Nick Zulovich
SOUTHFIELD, Mich. — Credit Acceptance Corp. recently announced the completion of a $200.5 million asset-backed non-recourse secured financing deal. Per this transaction, the company contributed loans having a net book value of approximately $250.8 million to a wholly-owned special purpose ... [Read More]

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