FARMINGTON HILLS, Mich. — Daimler Financial Services announced this week that it officially changed its legal name. The company now will be known as Mercedes-Benz Financial Services USA and will continue to serve as the captive finance unit for an array of ... [Read More]

IRVINE, Calif. — A significant drop in third-quarter total operating expenses wasn't enough to offset a sharp decline in revenue, sending Consumer Portfolio Services to another pretax and net loss. The company indicated this week its pretax loss for the third ... [Read More]

DALLAS — More than 500 attendees from throughout the nation and Canada gathered for the National Alliance of Buy-Here, Pay-Here Dealers Underwriting and Collection Conference held in Dallas. Ken Shilson, CPA and conference chairman, stressed that this was the largest underwriting ... [Read More]

MINNEAPOLIS — Wolters Kluwer Financial Services announced this week it's now offering captive finance companies, lenders and dealerships universal closed-end vehicle lease agreements for all U.S. states. The company stated that these lease agreements can help ensure vehicle leases are in compliance with ... [Read More]

WASHINGTON, D.C. — September's average interest rate on new-car loans at auto finance companies climbed to the second-highest point of the year, according the latest report from the Federal Reserve. Officials calculated the September average was 4.35 percent. Not since February ... [Read More]

FORT WORTH, Texas — Along with announcing the pricing of an offering of automobile receivables-backed securities, General Motors Financial reported growth in both third quarter net income and originations. Earlier this week, executives from the company formerly known as AmeriCredit revealed that ... [Read More]

IRVING, Texas — In addition to announcing a $150 million warehouse line of credit this week, Exeter Finance Corp. detailed the gains the company has recently made in its business operations. Discussing its new financing in more detail, Exeter entered into ... [Read More]

NEW YORK — Fitch Ratings predicted this week that 2009 U.S. prime auto ABS loans should post lower-than-expected losses. As a result, the firm believes lenders are positioning themselves for continued positive rating performance as the broader economy slowly improves. Through ... [Read More]

AUSTIN, Texas — Innovative Funding Services responded to broadening expansion Tuesday by promoting one its executives to director of operations. Taking on the role at the financing company for lessors and fleet-management businesses is Robert Rohner. When IFS moved to its ... [Read More]

DETROIT — On Monday, Ally Financial rolled out an exchange offer for its outstanding 8-percent Senior Guaranteed Notes due 2020.   Back in March, the company had initially issued a principal amount of these old notes totaling $1.9 billion in two ... [Read More]