BookItOut Expands Global Reach with New NYC Location
Jul 9, 2013
NEW YORK, July 9, 2013; Serving automotive finance companies in six countries, BookItOut opens its newest location today in New York City. The expansion into Lower Manhattan positions BookItOut among the world's largest financial institutions as its influence grows in the automotive finance industry. "A physical presen ... Continue reading
Jul 7, 2013
* The annual selling pace in June was nearly 16 million, the first month at that level since December 2007. Sales are from opposite ends and coming from small cars and pickups. The big gainers came from two niche players: Subaru up 42% and BMW up 21%. GM is up 6%, Ford up 13%, Chrysler LLC up 8%, Toyota/Lexus up 10%, H ... Continue reading
Five of the Top Ten Captive Auto Lenders Choose ChannelNet to Drive Customer Retention
Jun 20, 2013
DEARBORN, Mich.--ChannelNet, a leader in business-to-consumer acquisition, retention and conquest services, is helping major global automakers and their captive finance units retain purchase and lease customers, with a suite of online tools and support to enhance the customer ownership and repurchase process. âNo ... Continue reading
'Top Ten Most Refinanced Vehicles' List Reveals Practical Ownership Choices by Below Prime Consumers
Jun 11, 2013
With auto refinancing on the rise, CarFinance.com today released data on the Top Ten Most Frequently Refinanced vehicles and makes by its customers, since 2012. The report reveals that below-prime car owners, focused on lowering their interest rates and/or monthly payments through refinancing, tend to own sensible and ... Continue reading
CarFinance Capital Completes $238 Million Asset-Backed Securitization
Jun 5, 2013
CarFinance Capital LLC, a leading auto-finance provider, today announced that it has completed its inaugural rated asset-backed securitization of $238 million of Notes in a transaction that closed on May 30, 2013. The Offered Notes were assigned ratings by Moody's Investor Services, Inc. and Kroll Bond Rating Agency, I ... Continue reading
Experian Automotive: Auto leasing reaches record high
Jun 4, 2013
Experian Automotive today announced that new vehicle leasing rose by 12.5 percent to achieve the highest level since it began tracking the data in 2006. According to its State of the Automotive Finance Market report, leasing accounted for a record 27.5 percent of all new vehicles financed, up from 24.4 percent in Q1 20 ... Continue reading
May 29, 2013
Ford Motor Credit Company and Lincoln Automotive Financial Services are offering customers affected by the recent tornado and other storm damage the option to delay some car and truck payments. The disaster relief program allows qualified customers to delay one or two monthly payments, resuming their regular payment sc ... Continue reading
AAPC Statement on Japan's Currency Hitting 100 Yen to the U.S. Dollar
May 9, 2013
WASHINGTON, D.C. May 9, 2013; American Automotive Policy Council President Matt Blunt issued the following statement today on Japanâs currency reaching 100 yen to the U.S. dollar. âThe depth of Japanese currency manipulation has reached a new low. Japanâs monetary policies aimed at weakening the yen cont ... Continue reading
GM Financial Announces Offering of Senior Notes
May 6, 2013
GENERAL MOTORS FINANCIAL COMPANY, INC. announced today that, subject to market conditions, it intends to offer $2 billion aggregate principal amount of senior notes in various tranches. GM Financial plans to use the net proceeds from the offering of the notes to fund a portion of the acquisition of the international au ... Continue reading
May 2, 2013
WHAT: For most companies, ROI means Return on Investment, but for Farmington Hills-based Mercedes-Benz Financial Services, ROI means Return on Involvement. Next week, Monday through Friday, May 6-10, more than 1000 employees from Mercedes-Benz Financial Services locations in five countries across the Americas are teami ... Continue reading
May 1, 2013
Chrysler Capital, the new private-label, full-service lending program of Santander Consumer USA Inc. and Chrysler Group LLC, launched today with a broad spectrum of auto financing services for Chrysler Group customers and dealers. Under a 10-year, private-label agreement announced Feb. 6, 2013, Chrysler Capital operate ... Continue reading
State Auto Financial Names New Officer
Apr 25, 2013
State Auto Financial Corporation announced today that Matthew R. Pollak has been named vice president, treasurer and chief accounting officer. Pollak also serves in these same positions with State Automobile Mutual Insurance Company and State Auto Property & Casualty Insurance Company. ... Continue reading
LAW Pennsylvania F&I Library of Forms Launched by Reynolds and Pennsylvania Automotive Association
Apr 18, 2013
Reynolds and Reynolds today announced the launch of the LAW Pennsylvania F&I Library, which offers Pennsylvania automobile dealers a comprehensive catalog of standardized, legally reviewed finance and insurance (F&I) documents. The LAW Pennsylvania F&I Library of forms was developed jointly through a partnership betwee ... Continue reading
Auto Financial Group Introduces New Technology to DrivingSense Program
Apr 9, 2013
Auto Financial Group (AFG), an online provider of residual-based financing products for lenders since 1999, announced today that it has enhanced its DrivingSense balloon loan program with a new feature called the Dealer Inventory Download (DID). DID provides lenders and dealers a comprehensive and more efficient way to ... Continue reading
Apr 7, 2013
GENERAL MOTORS FINANCIAL COMPANY, INC. , a wholly-owned subsidiary of General Motors Company, announced that it has acquired the equity interests in the top-level holding companies that comprise substantially all of Ally Financial, Inc.'s auto finance and financial services business in Europe and Latin America. The pur ... Continue reading
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