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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

ABI: Yearly Bankruptcy Filings on Pace for Highest Total Since 2005

Nick Zulovich
ALEXANDRIA, Va. — Consumer bankruptcy filings in October were up almost 28 percent from a year ago, according to the American Bankruptcy Institute, which projected Wednesday that year-end total bankruptcies will likely reach more than 1.4 million, marking a four-year high. ... [Read More]

Wolters Kluwer: Banks, Credit Unions Find Indirect Lending Crucial to Growth

Nick Zulovich
MINNEAPOLIS — In a bit of good news for auto dealers, a majority of banks and credit unions surveyed recently by Wolters Kluwer Financial Services said the indirect lending will be vital to their growth in the next two years, though ... [Read More]

DealerTrack Posts Improved 3Q Results, Revises Yearly Guidance

Nick Zulovich
LAKE SUCCESS, N.Y. — Though it still recorded a net loss, DealerTrack showed year-over-year improvements in its third-quarter financial results, and the company's leadership says it is pleased with the performance and the progress DealerTrack has made. Specifically, the company recorded a ... [Read More]

GMAC Shows 3Q Strength in Auto Financing Business

Nick Zulovich
NEW YORK — Boosted by originations returning to more normal levels, credit improvements and used-car prices, GMAC reported this week that it global auto finance business had a third-quarter pre-tax income from continuing operations of $395 million, compared to a pre-tax ... [Read More]

AmeriCredit Announces $227 Million Asset-Backed Securitization

Nick Zulovich
FORT WORTH, Texas — Late last week, AmeriCredit Corp. announced the pricing of a $227 million offering of automobile receivables-backed securities, which are part of the AmeriCredit Prime Automobile Receivables Trust program. Basically, APART represents loans that have been originated via ... [Read More]

NAF Association Adopts New Lending Term

Nick Zulovich
HANOVER, Md. — The National Automotive Finance Association announced it will be using one term to standardize the various levels of financing for its members. The newly coined "below-prime" will be used by the organization to help avoid confusion when discussing ... [Read More]

FTC Delays Red Flags Enforcement Again

Nick Zulovich
WASHINGTON, D.C. — Prompted by Congress, the Federal Trade Commission has again pushed back its enforcement of the Red Flags Rule until June 1 for financial institutions and creditors that fall under its jurisdiction. FTC enforcement of the rule — which was ... [Read More]

Ford Credit Shows Strong 3Q Profit Growth

Nick Zulovich
DEARBORN, Mich. — Boosted by lower depreciation expenses on leased vehicles, Ford Motor Credit Co. posted a year-over-year net income increase of $332 million during the third quarter, based on preliminary data. Specifically, Ford Credit's quarterly net earnings were $427 million, compared with $95 million ... [Read More]

GMAC Seeks Further Government Aid, Comes to Market with FDIC-Backed Bond Offering

Nick Zulovich
DETROIT — In addition to the Treasury Department confirming that GMAC Financial Services is looking for a third round of government aid, the bank announced Wednesday that it is offering $2.9 billion of FDIC-guaranteed three-year bonds. Basically, officials said the bond ... [Read More]

Copart Adds DSC Floor Planning to Site to Increase Members’ Purchasing Power

Nick Zulovich
FAIRFIELD, Calif. — Copart announced it has now integrated Indiana-based Dealer Service Corp. into its Web site to give its members easier access to floor planning and ultimately more purchasing power. Via this integration, Copart members can now access their DSC ... [Read More]

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