Monday, August 13, 2007 - 8:00pm

YORBA LINDA, Calif. — Flex Fund Financial Services has recently signed operating agreements for inventory financing with 10 new independent auctions. The additional agreements bring the company's total signed auctions to 310, including about 150 whole-car and 160 salvage auctions, respectively, officials noted.... Read More

Wednesday, August 8, 2007 - 8:00pm

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

Wednesday, August 8, 2007 - 8:00pm

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

Wednesday, August 8, 2007 - 8:00pm

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

Wednesday, August 8, 2007 - 8:00pm

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

Monday, August 6, 2007 - 8:00pm

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

Monday, August 6, 2007 - 8:00pm

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

Monday, August 6, 2007 - 8:00pm

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