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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

DRN Offers Financing for Recovery Agencies

Nick Zulovich
FORT WORTH, Texas — Digital Recognition Network recently entered into a partnership with newly created DRN Financial in order to offer affordable financing terms to repossession-related companies that wish to acquire its license plate recognition technology. Officials believe that the new financing ... [Read More]

ABI: 2009 Bankruptcy Totals Rise Significantly

Nick Zulovich
ALEXANDRIA, Va. — The American Bankruptcy Institute recently shared data from the Administrative Office of the U.S. Courts that confirmed a sharp rise in total bankruptcy filings last year. The 2009 bankruptcy total jumped 32 percent over the figure recorded for ... [Read More]

Fitch: Seasonality Drives Up Prime Auto ABS Losses

Nick Zulovich
NEW YORK — Fitch Ratings recently reported that seasonal weakness pushed up U.S. prime auto loan asset-backed securities' losses slightly higher in January, compared to prior months. However, the company did share some good news. Despite high unemployment and pressure on ... [Read More]

Fed: Average Interest on Auto Loans Crept Higher

Nick Zulovich
WASHINGTON, D.C. — After remaining low for much of 2009, the average interest rate on new-car loans at auto finance companies crept up to 3.94 percent in January of this year, according to the Federal Reserve. This is the highest level ... [Read More]

Finance Express Teams with Wachovia Dealer Services to Broaden Platform

Nick Zulovich
RANCHO SANTA MARGARITA, Calif. — Finance Express, a provider of Web-based financial services and technology for independent dealerships, announced recently it has added Wachovia Dealer Services to its platform. Company officials stressed that the addition is a response to hundreds of ... [Read More]

Mercedes-Benz Financial Expands Mobile Platform

Nick Zulovich
FARMINGTON HILLS, Mich. — Thanks to a new offering from Mercedes-Benz Financial, its customers can now access personalized account management features using smartphones like BlackBerry, Droid and other mobile devices with Internet capability. This is an expansion of what the company ... [Read More]

Experian Reviews Auto Loan Trends, Including Top Lenders by Different Categories

Nick Zulovich
ORLANDO, Fla. — Due in large part to the troubled capital markets, Experian Automotive reported that captives lost a relatively large share of outstanding loan balances in the third quarter of last year, compared with the third quarter of 2008. In ... [Read More]

Westlake Financial Gains New Credit Facility to Add Sales Reps, Further Assist Dealers

Nick Zulovich
LOS ANGELES — Westlake Financial Services announced this week that it now has a new revolving securitization from Wells Fargo Preferred Capital. The facility, which will be funded through a Westlake subsidiary, Westlake Funding III, is for $100 million and will ... [Read More]

ABI Notes Continuing Rise in Consumer Bankruptcies

Nick Zulovich
ALEXANDRIA, Va. — The American Bankruptcy Institute determined Tuesday that 111,693 consumer bankruptcies were filed in February, according to data the firm reviewed from the National Bankruptcy Research Center. Institute officials calculated that last month's total represented a 14-percent increase nationwide ... [Read More]

GMAC Completes Sale of Insurance Business

Nick Zulovich
DETROIT — GMAC Financial Services announced Monday that it has completed the sale of its U.S. consumer property and casualty insurance business. The company noted that its dealer-related insurance business, which includes extended service contracts and insurance for dealer inventories, has ... [Read More]

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