WASHINGTON, D.C. — Reviewing the records available from the Federal Reserve, SubPrime Auto Finance News discovered that the median amount financed at auto finance companies reached a new record in May. This could perhaps be indicative that despite the struggling economy, ... [Read More]

FORT WORTH — AmeriCredit Corp. announced Wednesday the pricing of a $725 million offering of automobile receivables-backed securities through lead managers Credit Suisse and Deutsche Bank Securities. Co-managers are Barclays Capital, J.P. Morgan, RBS and Wells Fargo Securities. Basically, AmeriCredit uses ... [Read More]

LOS ANGELES —Westlake Financial Services announced its expansion into three new states, including Maine, Connecticut and Alaska. The company began business in these states starting July 1. The company also names Kyle Dietrich the new assistant vice president of sales. ... [Read More]

FARMINGTON HILLS, Mich. — Chrysler Financial recently announced it is restructuring its business operations to better align to the current market environment. This restructuring includes a reduction in the company's work force of about 9 percent. Officials attributed this need for ... [Read More]

DETROIT — On the heels of General Motors announcing it received bankruptcy court approval to sell its assets to a new company, GMAC Financial Services announced its reaction. The company indicated that it has been notified that the U.S. Bankruptcy Court ... [Read More]

ALEXANDRIA, Va. — U.S. consumer bankruptcy filings came in at a level that was 36.5 percent higher for the first six months of this year, compared to last year, according to the American Bankruptcy Institute. Based on data from the National ... [Read More]

WASHINGTON, D.C. — While indirect auto loan delinquencies showed some improvement in the first quarter, direct auto loan delinquencies were another story, according to the American Bankers Association. On the positive side, the ABA announced today that indirect delinquencies dropped slightly ... [Read More]

ORLANDO, Fla. —  As an eroding economy impacts businesses and car shoppers across the board, many buy-here, pay-here dealers are often faced with the challenge of customers not being able to make their payments. But many times, there are alternatives ... [Read More]

WASHINGTON, D.C. — Starting on Wednesday, auto, RV and other dealerships could start applying for Small Business Administration-guaranteed dealer floor plan financing, which can make it easier for these small businesses to borrow against their inventory and increase their cash flow. ... [Read More]

CHICAGO — In response to auto-loan delinquencies growing by more than 27 percent over the last year, TransUnion has launched new tools to help dealers and lenders better analyze consumers. To assist the industry in today's dynamic economic climate, TransUnion introduced the availability of ... [Read More]