PHILADELPHIA — VINtek, a provider of automotive collateral management services and direct auto finance solutions for banks, credit unions and other auto finance lenders, announced that it has opened a backup facility at the SunGard Availability Services location in Wood Dale, ... [Read More]

WASHINGTON, D.C. — In a conference themed "Recharging Our Industry," top executives from four major vehicle finance companies will examine financing during turbulent times in a panel discussion during the American Financial Services Association's 13th Annual Vehicle Finance Conference and Exposition, ... [Read More]

NEW YORK — GMAC Financial Services announced early this morning that it has submitted an application to the U.S. Federal Reserve Board of Governors for approval to become a bank holding company under the Bank Holding Company Act of 1956, as ... [Read More]

MINNEAPOLIS — As U.S. financial organizations and dealers plot their course for 2009, many are waiting to see how the federal government will handle the current financial crisis under a new presidential administration. Successful organizations will be those that are not only ... [Read More]

BANDON, Ore. — While some automaker captives say that their criteria remains the same for approving auto loans, CNW Research reported this week that there are, indeed, some differences. Apparently, these financial institutions have altered the number of loans that fall ... [Read More]

WESTLAKE VILLAGE, Calif. — Recent data from Power Information Network discovered that cash transactions for General Motors models have jumped considerably, which may indicate that these dealers are having a tough time getting financing for their customers. "GM's proportion of cash ... [Read More]

SANTA MONICA, Calif. — While Jesse Toprak, of Edmunds.com, reports that the credit market is tighter than several months ago, he also indicates that credit is available for buyers. In fact, he attributes fewer sales more to the media than anything ... [Read More]

KNOXVILLE, Tenn., and SAN DIEGO, Calif. — PROCON Inc., a leader in mobile resource management solutions, and DriveOK, a fast growing small fleet, buy-here, pay-here GPS tracking equipment and services provider, recently announced that the companies will merge. The merger enables PROCON, ... [Read More]

LOS ANGELES — Westlake Financial Services announced it is expanding into the New Jersey market. The company now originates automotive loan contracts in a total of 35 states throughout the U.S. New Jersey contracts began being accepted on Nov. 1. Mark ... [Read More]

Bankruptcies are at a three-year high, jobless claims at a 14-year high and both are increasing. So, what are the subprime lenders doing to remain profitable? What can you do to guarantee the survival of these needed financing sources? And ... [Read More]