HOUSTON — I recently surveyed mid-year 2009 buy-here, pay-here industry results and I learned the following: 1. Sales have been, for the most part, comparable to the same period of last year. Only operators who have expanded operations, added additional sales ... [Read More]

AUSTIN, Texas — Teres Solutions announced a new partnership with RateGenius to grow its clients direct auto lending business. Basically, Teres will integrate the RateGenius direct auto loan refinancing solution into its SAIL lending platform. "Whether or not automobile sales are growing, there's ... [Read More]

CHICAGO — Auto lease asset-backed securities took a big hit last year causing a decreased appetite to offer leases. This ultimately caused several automakers to leave the leasing market; however, according to Fitch Ratings, it's a much different story this year. ... [Read More]

SANTA MONICA, Calif. — Zag.com announced the launch of a new site today called DrivingDonations.com, which in addition to saving consumers an average of $4,500 on a new-car purchase, will also donate $50 to a charity of the consumer's choice. Basically, while the ... [Read More]

NEW YORK — After a significant reduction in auto loan originations last year, Chase Auto Finance is continuing to ramp these transaction ramp back up, ultimately increasing originations 82 percent year-over-year. On Wednesday, the company reported that third-quarter auto finance originations ... [Read More]

GAINESVILLE, Ga. — Black Book announced this week that it has expanded its relationship with DealerTrack. The new relationship involves Black Book integrating used-vehicle values into DealerTrack's BookOut for Lenders application. The goal of DealerTrack's new system is to simplify the process ... [Read More]

PALATINE, Ill. — MVTRAC announced today that it has partnered with Volkswagen Credit to help the company improve its collection procedures on defaulted vehicle collateral. As part of this relationship, VW Credit will use MVTRAC's automated license plate recognition technology, in ... [Read More]

SOUTHFIELD, Mich. — Credit Acceptance Corp. recently announced some changes to its credit warehouse facilities. The company said it increased the amount of its revolving secured warehouse facility with an institutional investor from $50 million to $75 million. In addition, the ... [Read More]

HOUSTON — The National Alliance of Buy-Here, Pay-Here Dealers announced Monday that it is compiling a comprehensive report containing statistics on the use of payment devices by BHPH operators. Kenneth Shilson, CPA and NABD founder, explained that technology will play an ... [Read More]

DETROIT — Late Wednesday, Fritz Henderson, General Motors president and chief executive officer, named Mark LaNeve's replacement. Promoted to the position is Susan Docherty, who is currently the general manager of Buick-GMC. She takes over the role on Oct. 16 and ... [Read More]