BANDON, Ore. — CNW Research discovered that both captives and major banks are tapping into pent-up demand of subprime new-vehicle buyers. Though Art Spinella, of CNW, explained that in comparison to levels prior to the recession, these approvals are still low, ... [Read More]

SALT LAKE CITY — Prestige Financial Services and www.OnlineBKmanager.com recently partnered to boost dealers' ability to efficiently deliver vehicles and supply financing for bankruptcy customers.  Through this alliance, Prestige Financial's dealer partners can receive a unique package discount on www.OnlineBKmanger.com ... [Read More]

NEW YORK — Fitch Ratings believes that since U.S. auto loan asset-backed securities posted steady results in December, the market is entering 2011 on firm footing. Fitch also contends delinquency and loss performance is currently within range of what it ... [Read More]

WASHINGTON, D.C. — The Federal Reserve discovered December's average interest rate on new-car loans at auto finance companies moved lower by the largest amount in six months. After climbing higher for five consecutive months, the December average ticked down to ... [Read More]

SAN FRANCISCO — After launching a successful prime leasing pilot in Ohio, GM Financial is looking to roll this offering out to the rest of the nation. Additionally, the company is eyeing a re-entry into the Canadian marketplace as well. Kyle ... [Read More]

VIENNA, Va. — Navy Federal Credit Union announced the launch of its auto referral, which is designed to help connect vehicle shoppers with participating dealers. "The program offers members a VIP experience at participating dealerships with prearranged new- and used-vehicle pricing," ... [Read More]

ATLANTA — Findings contained within Manheim's annual Used Car Market Report insisted buy-here, pay-here dealer sales rebounded faster than the overall market last year. Why? Officials believe that although credit loosened in the subprime segment in 2010, BHPH dealerships often ... [Read More]

SAN FRANCISCO — At the National Automobile Dealers Association's Convention over the weekend DealerTrack unveiled several new initiatives, including a new tool within its CreditOnline solution for dealer websites that allows consumers to submit credit applications, giving dealers the opportunity to ... [Read More]

DETROIT — Experian Automotive's AutoCount data revealed Ally Financial financed more consumer new-vehicle purchases in the U.S. than any other lender last year. All told in 2010, officials discovered Ally financed more than 803,000 new-vehicle purchases, resulting in nearly $23 ... [Read More]

WASHINGTON, D.C. — U.S. Small Business Administration officials announced at the National Automobile Dealers Association's convention this weekend that a pilot loan program aimed at increasing access to inventory financing for auto, boat, RV and other dealerships will be relaunched Wednesday. ... [Read More]