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SPONSORED EPISODE: The Buy Online Shift & What Dealers Need to Know Now
In this sponsored episode of the Auto Remarketing Podcast, Cox Automotive’s Jeri Reichel joins us to speak to the evolving Buy Online experience. She shares more about how shopper expectations are changing and what dealers should understand and do as ... Listen Here
The Spark Between EVs & CPO
In light of electric vehicle maker VinFast launching a certified pre-owned program in the U.S., Auto Remarketing senior editor Joe Overby connects with leaders from the EV space to discuss why the segment is a natural fit for CPO and ... Listen Here
Vincenzo Ciampi of iA Financial Group
Next up on the Canada’s Used Car Week Live Stage is Vincenzo Ciampi . who is senior vice president, of auto finance and dealer services for Canada at iA Financial Group. Ciampi talks with Cherokee Media Group’s Joe Overby about ... Listen Here

Credit Acceptance Announces Completion of Asset-Backed Financing

Nick Zulovich
SOUTHFIELD, Mich. — Earlier this month, Credit Acceptance announced the completion of a $110.5 million asset-backed non-recourse secured financing. For this transaction, the company said it contributed loans having a net book value of about $142.3 million to a wholly owned ... [Read More]

Navigator President: Company Has Made Significant Strides

Nick Zulovich
ATLANTA — In addition to saying the company is making strides since it has come out of bankruptcy, Navigator Acceptance president Bobby Lazenby announced the company is putting up for sale a $3.2 million portfolio, consisting of 470 seasoned, subprime auto ... [Read More]

TransUnion Cautions Those Expecting Abrupt Delinquency Turnaround Next Year

Nick Zulovich
CHICAGO — TransUnion is predicting that auto loan delinquencies, or borrowers 60 or more days past due, will climb by about 7 percent by the end of 2010. Given that this statistic is expected to come in at 0.86 percent at ... [Read More]

Prestige Financial Strikes Rare Subprime Securitization

Nick Zulovich
SALT LAKE CITY — Though investors have been extremely hesitant of late when it comes to the subprime auto asset-backed securities market, Prestige Financial Services apparently bucked this trend by tapping the credit markets for such a securitization earlier this month. Prestige Financial believes this ... [Read More]

ACS Introduces New Lender Platform for Dealers

Nick Zulovich
CINCINNATI — Automobile Consumer Services recently launched the DriveItNow.net Lending Gateway to give dealers access to financing and leasing sources. DriveItNow.net is designed to help alleviate the problem dealers are having with a tightened credit market by providing a platform of ... [Read More]

Credit Union Acceptance, Wolters Kluwer Broaden Partnership

Nick Zulovich
HOUSTON — For the second time this month, Wolters Kluwer Financial Services expanded a relationship with a credit union service organization. This time, the arrangement is with Credit Union Acceptance Co. so it can offer the AppOne platform in more markets. Now a ... [Read More]

LendingTreeAutos.com Goes Live

Nick Zulovich
CHARLOTTE, N.C. — On Monday, Tree.com announced the launch of LendingTreeAutos.com, which in addition to helping consumers obtain auto loans, will also assist consumers in deciding which vehicle to purchase next. The new site is designed to provide a variety of ... [Read More]

First Investors Curtails Originations

Nick Zulovich
HOUSTON — Discussing latest earnings this week, First Investors Financial Services' management reported that its decision to curtail originations had an impact on results.  And while the company is seeing originations improve, the curtailment did play a factor in rises in both its ... [Read More]

Mint Leasing Makes Major Vehicle Purchase for Corporate Customers

Nick Zulovich
HOUSTON — The Mint Leasing used a portion of its previously announced $10 million credit facility to purchase 61 vehicles for a trio of corporate clients. Mint Leasing bought all of the vehicles from Fred Haas Toyota Country, a Houston-area dealership. ... [Read More]

Lee Auto Malls Acquires Linnehan’s Credit Now

Nick Zulovich
AUBURN, Maine — Lee Auto Malls, a 73-year-old family dealership group, recently acquired the assets of Linnehan's Credit Now and Atlantic Acceptance Corp. to create one of the largest used-vehicle operations in the state. Lee already operates 12 franchise stores primarily ... [Read More]

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