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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

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]

Mint Leasing Renews Credit Line to Further Expand Leasing Portfolio

Nick Zulovich
HOUSTON — Mint Leasing announced today that it has renewed its credit line with Sterling Bank of Houston. Basically, the company entered into a modification, renewal and extension for the amount of $29.2 million. The maturity date of the line of ... [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]

Wells Fargo: Auto Finance Business Continues to Gain Market Share

Nick Zulovich
SAN FRANCISCO — During the company's recent third-quarter conference call, Wells Fargo chief financial officer Howard Atkins pointed out that the auto finance business has been gaining market share in both new and used auto loan originations. In fact, the company ... [Read More]

Chrysler Financial Further Reduces Work Force

Nick Zulovich
FARMINGTON HILLS, Mich. — Chrysler Financial recently announced that as part of its ongoing restructuring, effective immediately, the company has reduced its work force by about 12 percent. This move, which apparently came quietly in late September, impacted all levels of Chrysler Financial's ... [Read More]

Alliance Credit Union Runs Ugly Car Contest to Drive Consumer Interest

Nick Zulovich
SAN JOSE, Calif. — To drive more interest to its company and services, Alliance Credit Union recently ran a special marketing campaign that offered $5,000 to the winner of an Ugly Car Contest. The winner, Jean-Pierre Saintard, of Leland, N.C., was able ... [Read More]

Capital One Continues to Reduce Auto Loans

Nick Zulovich
McLEAN, Va. — Sharing its third-quarter results late last week, Capital One announced that its auto loans declined further due to earlier efforts to "retrench and reposition" its auto finance business. More specifically, loans declined by $667.3 million, or 3.3 percent, ... [Read More]

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