DEARBORN, Mich. — Ford Credit Canada Limited announced that Ford Floorplan Auto Securitization Trust, a newly established securitization trust sponsored by Ford Credit Canada, has completed its initial public offering of asset-backed notes in Canada. The offering generated proceeds of approximately C$1.1... Read More

SAN DIEGO — Subprime retail sales will continue to increase in the coming years, and the inevitable result — a rise in repossessions — will fuel growth in the subprime wholesale market, agreed a panel of subprime lenders at the National Remarketing Conference held in San Diego Nov. 1-3.... Read More

PassTime Partners with CAR Financial, ADP

LITTLETON, Colo. — PassTime recently announced a partnership with CAR Financial to connect both companies to a larger network of dealers. Additionally, PassTime said it has teamed up with Automatic Data Processing to provide disclosure forms through ADP's F&I eForms Library. Through its recent... Read More

AppOne Releases Aftermarket Feature, More

BATON ROUGE, La. — AppOne recently announced the release of Menu One, a new feature that displays enhanced financing options or aftermarket products through the company's Web-based portal. The company also said it has teamed with First Advantage Credco to provide reports from all three credit bureaus.... Read More

TRENTON, Maine — What better dealer management system for a buy-here, pay-here dealership than one created by those that specialize in the BHPH industry? At least, that was part of the Linnehan family's strategy when they introduced The ANSWER, an accounting-based DMS created through USA Computer... Read More

PIN Reports 72-Month Loans Gaining Ground

WESTLAKE VILLAGE, Calif. — The domestic automakers financing incentives earlier this year, which included zero-percent APR on 72-month loans even for subprime customers, are one factor contributing to the new popularity of 72-month loan terms in the new-vehicle financing business, according to Power Information... Read More

WASHINGTON, D.C. — Interest rates for new-car loans through auto finance companies dipped in the third quarter, coming in at an average of 3.24 percent, according to the Federal Reserve Board. More specifically, the measurement hit its lowest point of the year so far during July when it dropped to 2.07 percent.... Read More

AFSA Prepares for Vehicle Finance Conference

WASHINGTON, D.C. — In the months leading up to the American Financial Services Association's 11th annual Vehicle Finance Conference & Expo, the group has been busy honoring an auto finance veteran, naming new executives, installing a new chairman and more. The Vehicle Finance Division of the... Read More