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Matt Babcock of Wolters Kluwer on how digital transformation continues to gain steam in auto financing
Matt Babcock, who heads up digital lending product strategy for Wolters Kluwer, returned for another visit on the Auto Remarketing Podcast. Wolter Kluwer recently released its latest quarterly Auto Finance Digital Transformation Index. Babcock recapped the sustained upward trajectory the ... Listen Here
SPONSORED EPISODE: The Buy Online Shift & What Dealers Need to Know Now
In this sponsored episode of the Auto Remarketing Podcast, Cox Automotive’s Jeri Reichel joins us to speak to the evolving Buy Online experience. She shares more about how shopper expectations are changing and what dealers should understand and do as ... Listen Here
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

HSBC Auto Finance Freezes Indirect Auto Lending

Nick Zulovich
PROSPECT HEIGHTS, Ill. — During a Monday conference call to discuss half-year results, HSBC announced it has decided to exit the indirect auto finance business. "We're going to discontinue new auto loan originations via our indirect origination channel (or through dealers)," ... [Read More]

Chrysler Revamps Incentives to Make Purchasing More Attractive; Financial Arm Completes Funding Facility

Nick Zulovich
AUBURN HILLS, Mich. — As Chrysler shifts its focus from leasing to retail purchasing, the automaker announced that it is repackaging its incentives to make purchasing a vehicle more affordable. The new strategy includes 72-month finance deals on an expanded range ... [Read More]

ABI Expects Bankruptcies to Surge Past 1 Million by Year-End

Nick Zulovich
ALEXANDRIA, Va. — U.S. consumer bankruptcy filings increased 48 percent nationwide in July from the same period a year ago, according to the American Bankruptcy Institute, which relies on data from the National Bankruptcy Research Center. The overall July consumer ... [Read More]

Up2Drive.com Now a Financing Offering on Edmunds.com

Nick Zulovich
WOODCLIFF LAKE, N.J. — BMW Group Financial Services of North America recently announced that up2drive.com has been selected as a finance offering on Edmunds.com. An auto financing Web site that features convenient loan services, up2drive.com is designed to empower consumers through ... [Read More]

Hearing Held on Dispute between DealerTrack, RouteOne and Finance Express

Nick Zulovich
LAKE SUCCESS,  N.Y. — The legal battle between DealerTrack, RouteOne and Finance Express is slowly, but surely, coming to a head. In an important hearing held early last week, each company claims a judge found in its favor on certain aspects ... [Read More]

GMAC to Trim Down U.S. Leases after $716 Mil Pre-Tax Impairment on Off-Leases

Nick Zulovich
NEW YORK — GMAC Financial Services reported a 2008 second quarter net loss of $2.5 billion, compared with net income of $293 million last year. This downswing was largely due to industry-wide declining residual values on its off-lease portfolios in North America. ... [Read More]

NABD Launches Jobs Board

Nick Zulovich
HOUSTON — The National Alliance of Buy-Here, Pay-Here Dealers recently announced the launch of a new BHPH employment bulletin board on its Web site. Prospective employees can post their resumes for free, officials pointed out. Applicants can also request that ... [Read More]

Special Finance Convention Details

Nick Zulovich
SARASOTA, Fla. — During the reception on Monday evening of the 2008 Special Finance Convention, which will be held in Dallas Aug. 17 to 19, an awards ceremony for the inaugural group of inductees into the Special Finance Hall of Fame ... [Read More]

Peak5 Announces New Senior VP of Ops

Nick Zulovich
CENTENNIAL, Colo. — Peak5 recently announced the addition of a new senior vice president of operations. Taking on this role is Todd Klem. Klem has extensive experience managing call center and collection processes over the last 20 years. He most recently ... [Read More]

Westlake Financial Extends National Footprint, Realigns Origination Departments

Nick Zulovich
LOS ANGELES — Westlake Financial Services announced it has expanded into three additional states, including North Dakota, South Dakota and Montana. With these three new states, Westlake said it will now originate auto loan contracts in 34 states throughout the United ... [Read More]

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