COSTA MESA, Calif. — Even though the Experian-Gallup Personal Credit Index rebounded to 95 in July after declining to 90 earlier this year, officials found that a large number of consumers are still uncomfortable making large purchases, such as cars. More specifically, 50 percent of those questions indicated they... Read More

AmeriCredit's CEO Tackles Industry Concerns

FORT WORTH, Texas — Addressing the unstable credit market and liquidity concerns by many in the industry who are keeping a particularly watchful eye on subprime companies, AmeriCredit's president and chief executive officer reassured analysts that his company has no fears. In fact, Dan Berce said... Read More

DealerTrack: 2Q Transactions Hit 23.5 Million

LAKE SUCCESS, N.Y. — DealerTrack announced that GAAP net income for the quarter came in at $6.3 million, up 35 percent from $4.7 million for the second quarter of last year. Additionally, revenue for the quarter was $58.5 million, up 35 percent from $43.4 million in the same period of... Read More

Auto Affordability Index Down

DETROIT — According to the Auto Affordability Index compiled by Comerica Bank, an average-priced new vehicle took 24.6 weeks of median family income in the second quarter of this year. Officials indicated the latest reading is down just slightly, 0.1 week, from the first quarter. Moreover, the index was down 1.1... Read More

NAF Association Releases Annual Study Results

Hanover, Md. — The National Automotive Finance Association announced that it has published its 2007 Non-Prime Automotive Financing Survey. One of the key findings is that delinquencies, both in dollars and number of accounts, have increased since last year. The 2007 survey reports slight increases in portfolio... Read More

WASHINGTON, D.C. — The American Bankers Association is encouraging bankers to participate in the fifth annual Get Smart About Credit Day, which brings banking professionals into schools to help teens learn valuable credit lessons. The event will be held Oct. 18 throughout the country. Julie Cripe, chairman of the... Read More

NAF Association, NADC to Host Workshops

HANOVER, Md. — The National Automotive Finance Association and the National Association of Dealer Counsel announced they will hold educational sessions in September and October. The NAF Association will present a half-day workshop Sept. 23 at the Millennium Hotel in St. Louis. The event will be held in conjunction... Read More

CARMEL, Ind. — In an effort to correct misconceptions about its business, J.D. Byrider announced it has launched a new Web site at "We see a parallel between us and Blockbuster," explained Steve Wedding, president of Byrider franchising. "When Blockbuster burst into video rentals, the... Read More