NEW YORK — GMAC Financial Services reported second-quarter net income of $293 million, compared to $787 million in 2006. According to officials, strong performance in GMAC's global automotive finance and insurance businesses offset losses in the real estate finance business. GMAC's ... [Read More]

DEARBORN, Mich. — Ford Motor Credit announced net income of $62 million in the second quarter, down $242 million from earnings of $304 million a year earlier. The decrease in earnings primarily reflected higher borrowing costs, lower credit loss reserve reductions, ... [Read More]

ATLANTA — Although women have a lot of power when it comes to purchasing vehicles, there are not a lot of resources specifically geared to help females feel comfortable with process of buying a car, explained Sheronde Glover, founder and ... [Read More]

WASHINGTON, D.C. — Among other trends, the Federal Reserve discovered that household credit decreased marginally since its last report. In fact, several districts observed higher delinquencies on mortgages and other consumer loans. For example, New York, Richmond, Chicago, Kansas City ... [Read More]

DALLAS — Ristken Software Services announced it has integrated rates from the Asset Protection division of Protective Life Corp. into its MenuPro product. The move was done to offer dealerships direct access to Protective's rates, in addition to rates from ... [Read More]

MCLEAN, Va. — As summer is in full swing, teens and young adults throughout the country are preparing to make the single largest purchase of their young lives — their first car. In its annual Rules of the Road survey, ... [Read More]

HUNTINGTON BEACH, Calif. — A Triad Financial Corp. spokesperson told SubPrime Auto Finance News this week that company officials have decided to relocate remaining operational functions to their facility in North Richland Hills, Texas. After reviewing business, executives determined the ... [Read More]

FARMINGTON HILLS, Mich. — RouteOne announced this morning that Drive Financial Services, which works in the nonprime indirect auto finance industry, has joined the growing number of finance sources on its platform. Drive Financial is a privately held company owned ... [Read More]

PHOENIX, Ariz. — Dealers Auto Auction of the Southwest announced it has created an exclusive subprime lease and repossession lane for its lender clients to run vehicles. These lenders include Lobel and Westlake Financial, in addition to six other subprime ... [Read More]

SOUTHFIELD, Mich. — Credit Acceptance Corp. recently launched an updated corporate Web site, which is designed to better benefit dealer clients, investors and customers. The new site was created to be easier to navigate via an updated graphical layout, enhanced ... [Read More]