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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

Fed: Average Amount Financed on Car Loan Plummets

Nick Zulovich
WASHINGTON, D.C. — The Federal Reserve announced the latest auto finance trends on Wednesday, and in an interesting turn, the average amount financed at auto lenders showed a significant drop. This figure came in at $24,405 on new-car loans in August, ... [Read More]

AppOne Gains Kansas-Based Credit Union

Nick Zulovich
BATON ROUGE, La. — In the all-important need to open up credit availability and get the economy moving again, Wolters Kluwer Financial Services announced it has gained a new financial institution to use its AppOne platform. The most recent lending facility to ... [Read More]

Bankruptcy Filings Hit New Nine-Month Record Since 2005

Nick Zulovich
ALEXANDRIA, Va. — For the first time since 2005, bankruptcy filings jumped past the 1 million mark during the first three calendar quarters of a year, according to the American Bankruptcy Institute. Relying on data on from the National Bankruptcy Research ... [Read More]

Former AmeriCredit Exec Joins XpressCredit as Director of Lender Development

Nick Zulovich
SYRACUSE, N.Y. — XpressCredit today announced the hiring of a former AmeriCredit executive as director of lender development. Taking on this position is Rory Noske. Noske brings more than 18 years of experience, developing business relationships in the auto financial services ... [Read More]

DealerTrack Adds Red Flags Reporting

Nick Zulovich
LAKE SUCCESS, N.Y. — DealerTrack customers now have access to Red Flags Reporting. The Red Flags Rules are expected to be enforced starting Nov. 1.  The addition is designed to help dealers in providing an audit trail and ensuring employees are complying with the Red ... [Read More]

CarBiz Names New COO, Reports Upswing in 2Q Earnings

Nick Zulovich
SARASOTA, Fla. — CarBiz recently announced that it has appointed a new chief operating officer, and the company also reported that its second-quarter earnings climbed significantly year-over-year. Named as COO was Paul Whitley, who was previously the director of finance for ... [Read More]

Fitch: U.S. Auto ABS Delinquencies in August Close to 10-Year High

Nick Zulovich
NEW YORK — Sixty-plus-day delinquency levels on U.S. prime auto loan ABS jumped 10.4 percent in August to 0.85 percent, which approached the 10-year record high set back in the first quarter, Fitch Ratings reported this week. The decade high is ... [Read More]

ABA Says Auto Loan Delinquency Rates Improved

Nick Zulovich
WASHINGTON, D.C. — Although overall consumer delinquencies reached a record mark during the second quarter, auto loans — both direct and indirect — showed significant improvement during the period, according to the American Bankers Association. Specifically, direct auto loan delinquencies dropped 55 basis ... [Read More]

Drive Financial Introduces Revamped Finance Program

Nick Zulovich
DALLAS — Drive Financial rolled out its revamped finance program for dealers late last week, and some of the changes include restructured tiers and various provisions that give dealers greater flexibility in setting up deals for customers. To shed some light ... [Read More]

How is Floor Plan ABS Performing?

Nick Zulovich
NEW YORK — While fears abounded about dealers' ability to pay floor planning, especially at General Motors and Chrysler, with sales being down so much historically, the early payment analysis is in. And largely, it is positive. According to DBRS, the ... [Read More]

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