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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
Ted Berlovich of Clutch
Continuing the discussions from the Live Stage at Canada’s Used Car Week, senior editor Joe Overby connects with Ted Berlovich, director of wholesale at online used-car retailer Clutch. Berlovich explained the company’s wholesale process, how the company handles some of ... Listen Here

Ford Credit Back in the Black But Expects Second Half to Show Less Strength

Nick Zulovich
DEARBORN, Mich. — In a positive turn of events, Ford Credit announced today that it has posted net income of $413 million for the second quarter, a significant improvement of $1.8 billion from a net loss of $1.4 billion last year. ... [Read More]

Infiniti Launches Special Summer Financing/Lease Rates

Nick Zulovich
FRANKLIN, Tenn. — Infiniti announced this week that it is now it is running special leasing and financing terms through Aug. 31. The automaker is offering zero percent financing on select 2009 models. Additionally, special lease rates are also available. For example, a lease on the 2009 ... [Read More]

Prestige Financial Names Executive VP of Ops

Nick Zulovich
SALT LAKE CITY — Prestige Financial Services recently named an executive vice president of operations. Promoted to this position is Rich Hyde. In this role, Hyde will oversee loan servicing, operations policy and client special situations for the Salt Lake City-based ... [Read More]

XpressCredit’s Web Site Gets a Makeover

Nick Zulovich
SYRACUSE, N.Y. — XpressCredit announced the introduction of a redesigned Web site with a more streamlined navigation flow and more comprehensive information on the company's product offerings. In addition to an entirely new look, some features of the new site, which ... [Read More]

Spinella: Subprime Continues to Take it on the Chin

Nick Zulovich
BANDON, Ore. — Apparently, gaining approval on an average auto loan is easier today than it has been since October 2008; however, subprime approvals aren't so easy to obtain, according to Art Spinella, of CNW Research. Spinella explained that while subprime ... [Read More]

Credit Union Offers Special Summer Auto Loan Rates

Nick Zulovich
BURBANK, Calif. — Lockheed Federal Credit Union announced it has slashed summer rates on new and used car loans as a part of its Summer Loan Sale, which will run through Aug. 31. "Consumers can save a bundle with special new ... [Read More]

Wells Fargo Provides $20 Million Revolving Credit to Tower Loan

Nick Zulovich
DES MOINES, Iowa — Wells Fargo Preferred Capital, a subsidiary of Wells Fargo & Co, announced it has recently added $20 million to Tower Loan of Mississippi and its affiliated consumer lending companies' existing credit  facility, bringing the total facility to ... [Read More]

New Product Introduced to Help Dealers Prescreen Floor Traffic, Prospects

Nick Zulovich
DAVENPORT, Iowa — Iowa-based Dealer Marketing Services, the creators of ProMax Online, recently announced the introduction of a system that can help dealers to pre-qualify consumers for auto financing by simply entering the consumer's name and address into the Instant Screen ... [Read More]

Chase Maintains Lower Auto Originations

Nick Zulovich
NEW YORK — Chase reported today that auto originations were down for the second quarter in both an annual comparison and a quarter-to-quarter review. Auto loan originations came in at $5.3 billion, down 5 percent from $5.6 billion in the first quarter ... [Read More]

NICB, Authorities Respond to Challenge of Consumers Fraudulently Reporting Vehicles Stolen to Avoid Payments

Nick Zulovich
DES PLAINES, Ill. — According to the National Insurance Crime Bureau, a trend has been emerging as consumers struggle to pay their bills. Rather than walking away from vehicle payments that can no longer be afforded, apparently many consumers are reporting ... [Read More]

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