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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

ABA Says Both Direct and Indirect Auto Loan Delinquencies Show Drop

Nick Zulovich
WASHINGTON, D.C. — The American Bankers Association's Consumer Credit Delinquency Bulletin found that both direct and indirect auto loan delinquencies dropped in the second quarter. ABA revealed that direct auto loan delinquencies declined from 1.79 percent to 1.67 percent. Meanwhile, indirect ... [Read More]

Consumer Bankruptcy Filings Come in 11 Percent Higher than First Three Quarters of 2009

Nick Zulovich
ALEXANDRIA, Va. — Through the first nine months of this year, the American Bankruptcy Institute revealed that U.S. consumer bankruptcy filings are 11 percent higher than during the same time span last year. According to data provided by the National Bankruptcy ... [Read More]

GM Successfully Acquires AmeriCredit

Nick Zulovich
FORT WORTH, Texas — General Motors Financial, formerly AmeriCredit, announced it has successfully been incorporated into General Motors. Basically, GM Financial is the surviving corporation of AmeriCredit's merger with Goalie Texas Holdco Inc. and became a wholly owned subsidiary of GM Holdings ... [Read More]

Fiat Taps Ally Financial as Preferred U.S. Financing & Remarketing Source

Nick Zulovich
AUBURN HILLS, Mich. — Chrysler announced today that it has selected Ally Financial as the preferred financing provider for Fiat vehicles in the U.S. Ally plans to provide retail financing, leasing, wholesale financing, working capital and facility loans, in addition to ... [Read More]

Wells Fargo, Fifth Third Bank Pledge Credit Facilities to SNAAC

Nick Zulovich
CINCINNATI — Security National Automotive Acceptance Corp. recently received revolving credit facilities from both Wells Fargo Preferred Capital and Fifth Third Bank to expand its auto finance and insurance operations. The total amount SNAAC secured was $200 million. "We are extremely ... [Read More]

Sparta to Launch Non-Prime Lease Program to Help Powersports Dealers Move Inventory

Nick Zulovich
NEW YORK — After conducting analysis spotting a significant need, Sparta Commercial Services this week is launching a new consumer leasing program targeted at the non-prime powersports market. Fueled by a multimillion-dollar line of credit it closed recently, Sparta believes it ... [Read More]

Fitch: Prime Auto Delinquencies Plummet 33 Percent Annually

Nick Zulovich
NEW YORK — Fitch Ratings recently revealed that U.S. prime auto delinquencies declined 33 percent on a year-over-year basis. On a month-to-month basis, delinquencies inched higher just a bit, however, which Fitch attributes mostly to seasonal trends. Fitch found that prime ... [Read More]

Prestige Gains Conduit Facility from J.P. Morgan Chase

Nick Zulovich
SALT LAKE CITY — Prestige Financial Services announced late last week it established an asset-backed commercial paper conduit facility through J.P. Morgan Chase Bank, N.A. in Chicago. Executives indicated the facility totaled $150 million. They went on to note the ... [Read More]

Non-Prime Regional Lender Receives Wells Fargo Credit Facility

Nick Zulovich
DES MOINES, Iowa — For the second time this month, Wells Fargo Preferred Capital handed out a revolving credit facility to a regional non-prime lender that works with franchise and independent dealerships. The latest facility coming to fruition last week was for ... [Read More]

Subprime Used-Vehicle Sales Begin to Rebound, Albeit Still Down Dramatically from 2007

Nick Zulovich
BANDON, Ore. — As of August, the share of used-vehicle sales to consumers with FICO scores under 619 apparently rose to the highest level since March 2008. However, on the new-car side, buyers with a FICO below 619 have risen only ... [Read More]

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