Auto Finance News

Auto Remarketing AR Canada Subprime News BHPH Report Auto Fin Journal
EMAIL SIGNUP CMG PREMIUM LOGIN
X
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

Fed Watches Non-Revolving Credit Jump Again

Nick Zulovich
WASHINGTON, D.C. — While the Federal Reserve didn't have any update on averages for new-vehicle loans by finance companies, officials noticed non-revolving credit increasing at a rate not seen since February. Looking at June data, the Fed discovered this credit ... [Read More]

CPS Buys Portfolio of Fireside Auto Receivables

Nick Zulovich
IRVINE, Calif. — Consumer Portfolio Services announced Monday that it has entered into an agreement with Fireside Bank to purchase a $237 million portfolio of performing automobile receivables. Fireside Bank is a wholly owned subsidiary of Unitrin Inc.  A subsidiary of ... [Read More]

GM Financial Reveals 2Q Net Income & Loan Originations Climb as Delinquent Receivables Dip

Nick Zulovich
FORT WORTH, Texas — GM Financial watched both loan originations and net income rise and delinquent receivables fall during the second quarter. Officials revealed its second-quarter net income came in at $95.8 million, up from the year-ago figure of $85.5 ... [Read More]

CarHop Moves Kansas City Store to Newly Renovated Space

Nick Zulovich
KANSAS CITY, Mo.  — CarHop recently celebrated relocating its Kansas City, Mo., store to a newly renovated space. After moving into the fresh building on July 29, company officials note that the location at 1115 E. Bannister Road will expand CarHop's ... [Read More]

July Consumer Bankruptcies Continue Downward Trend

Nick Zulovich
ALEXANDRIA, Va. — July saw consumer bankruptcies fall substantially, continuing a downward trend in filings for the seventh straight month, according to the American Bankruptcy Institute. The rate of consumer bankruptcies decreased 18 percent nationwide during this past month, noted the ... [Read More]

Prestige’s Seagrave Takes on New Position with AFS Acceptance

Nick Zulovich
FORT LAUDERDALE, Fla. — After spending five years as senior vice president of loan originations at Prestige Financial in Salt Lake City, Scot Seagrave has a new position with a different company. Seagrave has been hired by AFS Acceptance, a ... [Read More]

Manheim: Wholesale Price Conditions Hit BHPH Dealers Hard & More Financing Trends Revealed

Nick Zulovich
ATLANTA — When Manheim considered the buy-here, pay-here market when compiling its annual Used Car Market Report — Mid-Year Edition, chief economist Tom Webb discovered these stores have been especially impacted by high wholesale prices. Webb insisted BHPH dealers have to ... [Read More]

Nicholas Financial: 1Q Net Earnings Soar Nearly 50 Percent

Nick Zulovich
CLEARWATER, Fla. — Nicholas Financial recently revealed its first quarter results, highlighting a set of substantial increases for both earnings and revenue. Net earnings for the three months came in at $5.303 million, marking a 48 percent increase from the ... [Read More]

Credit Acceptance Reveals 2Q Earnings, Loan Performance

Nick Zulovich
SOUTHFIELD, Mich. — Although its second-quarter net income slipped year-over-year, Credit Acceptance Corp., watched that financial reading climb when looking at its performance through the first six months of 2011. Credit Acceptance reported Monday that its second-quarter consolidated net income ... [Read More]

Ally: Used U.S. Originations Spike 74 Percent, While Leasing Jumps 155 Percent Over 2010

Nick Zulovich
NEW YORK — Reviewing Ally Financial's preliminary second-quarter results, SubPrime Auto Finance News discovered its auto originations growth was driven in large part by stronger used originations and leasing volume in the U.S., which spiked 74 percent and 155 percent, respectively. ... [Read More]

Med Rec 1

MedRec 2

MedRec 3

Filmstrip

Digital Edition Ad

Offerings

X