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Two Ways tghter credit helped Car Mart

2 ways tighter credit helped Car-Mart BENTONVILLE, Ark. — Along with elaborating a bit about his upcoming retirement, America’s Car-Mart chief executive officer William “Hank” Henderson described how underwriting tightening in other areas of the auto-finance market is benefitting the chain of buy-here, pay-here dealerships. The ...

3 tips for credit reporting during natural disasters

FORT WORTH, Texas –  As reports continue to arrive stemming from the damage caused by Hurricane Harvey in Texas and elsewhere along the Gulf Coast, Ignite Consulting Partners gave buy-here, pay-here dealers and other auto finance providers three reminders associated with credit reporting for consumers residing in ...

House approves resolution to stop arbitration rule

House approves resolution to stop arbitration rule WASHINGTON, D.C. — Now it’s the Senate’s turn. The House approved a resolution on Tuesday leveraging authority provided under the Congressional Review Act (CRA) to stop the Consumer Financial Protection Bureau’s final rule prohibiting the use of class action ...

Major Developments Make NABD Orlando a Must Attend

Major Developments Make NABD Orlando a Must Attend By Nick Zulovich Senior Editor HOUSTON –  It was just a little more than four months ago that the National Alliance of Buy-Here, Pay-Here Dealers hosted its annual convention in Las Vegas. However, Ken Shilson emphasized that two ...

Dealer Advice Following Court Action Against CFPB

Automotive Compliance Consultants urges dealers to stay vigilant despite action against CFPB CRYSTAL LAKE, Ill. — Automotive Compliance Consultants advised dealerships to remain vigilant and attentive to consumer business practices even though the U.S. Court of Appeals recently ruled the leadership structure of the Consumer Financial ...

How ‘Furnishers’ Can Avoid Trouble with the Feds

The Consumer Financial Protection Bureau is targeting violations of strict rules for so-called “furnishers,” including auto lenders, plus in many cases their vendors, and potentially some independent dealers and buy-here, pay-here dealers, assuming they all furnish consumers’ nonpublic personal information to credit reporting bureaus. For instance ...

NIADA announces 5 scholarship winners

NIADA announces 5 scholarship winners LAS VEGAS — The National Independent Automobile Dealers Association announced the recipients of the organization’s 2015 Scholarship Awards at the 69th Annual NIADA Convention and Expo at Caesars Palace in Las Vegas. The NIADA Foundation, each year, sponsors a student in ...

Transporters Team Up

Transporters Team Up ShipCarsNow and Ready Auto Transport are joining forces to provide multi-modal transportation to vehicle shippers. This combination of truck and rail service will increase carrier capacity and create transportation efficiencies for U.S. Manheim auto auction customers and other wholesale vehicle shippers. You can ...

FTC cracks down on dealer advertising

FTC Gets Tough On Car Dealer Scams – Southwest Florida … http://swflorida.blogspot.com/ Thu, 26 Mar 2015 14:19:27 -0700 For the first time since receiving expanded authority over auto dealers under the Dodd-Frank Act, the FTC has taken two auto enforcement actions involving add-ons, which is the ...

FBI Offers Reward for Fugitive Dealer

NEWARK, N.J. — The FBI is offering a reward of $20,000 for information leading to the arrest of a luxury car dealer accused of defrauding customers and lenders. More than 75 people have filed complaints against Afzal “Bobby” Khan, who has reportedly fled the country, the ...

Auto Finance Reaches All-Time High

The total outstanding balance on open automotive loans continued to rise in the fourth quarter of 2014, reaching an all-time high of $886 billion, according to Experian Automotive. According to its latest State of the Automotive Finance Market report, the volume of open loans increased across ...

State Indicts Dealer for Deceptive Practices

A South Dakota used-car dealer has been indicted on charges of engaging in deceptive business transactions surrounding the selling and buying of a vehicle. Joseph Matthew Stanford, owner of Moto Joes in Brandon, S.D., was indicted on one count of grand theft by deception, class 4 ...

Experian: Outstanding Balances Hit $886B

SCHAUMBURG, Ill. — Experian Automotive found that the total outstanding balance on open automotive loans hit an all-time high during the fourth quarter, but subprime contracts constituted a smaller part of the figure. That all-time high figure climbed to $886 billion.

CPS Receives Subpoena From DOJ

The Department of Justice issued a subpoena to Consumer Portfolio Services on January 14, according to an 8-K filed with the Securities and Exchange Commission last week. The filing describes the DOJ subpoena as “a civil investigative subpoena from the U.S. Department of Justice pursuant to ...

Ally Auto Originations Hit $41 Billion in 2014

With $9 billion of loans originated in the fourth quarter of 2014, Ally Financial Inc. capped the year with $41 billion in originations. Fourth-quarter volume was up 9.8% year over year, but down 23.7% from the prior quarter. In an earnings call this morning, Ally attributed ...

NABD Details Next Boot Camp & Best Practices Conference

     HOUSTON and MONROE, N.C. – Just before Thanksgiving arrives and the holiday season cranks up in earnest, the National Alliance of Buy Here, Pay Here Dealers is giving veteran operators as well as professionals who want to close 2014 by learning more about the ...

NABD Details Next Boot Camp & Best Practices Conference

NABD Details Next Boot Camp & Best Practices Conference HOUSTON and MONROE, N.C. — Just before Thanksgiving arrives and the holiday season cranks up in earnest, the National Alliance of Buy-Here, Pay-Here Dealers is giving veteran operators as well as professionals who want to close 2014 ...

Wholesale used vehicle prices softened again in September

Wholesale used vehicle prices softened again in September, their fifth monthly decrease in a row. ADESA reports that September’s modest year-over-year increase in average prices reflects a higher percentage of institutional sales of late-model vehicles this year versus last. This masks the softness in prices seen ...

Used Car news Updates

CFPB proposes rule to supervise large auto finance companies – Washington Post http://news.google.com Wed, 17 Sep 2014 23:53:29 GMT New York TimesCFPB proposes rule to supervise large auto finance companiesWashington PostThe CFPB and the Justice Department have ongoing investigations into whether auto lenders and dealers are ...

CFPB Wants More Auto Oversight Authority

CFPB Wants More Auto Oversight Authority WASHINGTON, D.C. — If a finance company makes, acquires, or refinances 10,000 or more vehicle loans or leases in a year, the Consumer Financial Protection Bureau is looking to become that operation’s primary regulator stemming from a proposal released late ...

US Treasury Reduces Ally Stake to 13.8%

WASHINGTON, D.C. — The U.S. Department of the Treasury’s ownership in Ally Financial continues to shrink. Treasury officials on Friday announced the completion of the first pre-defined written trading plan for Ally common stock. The Treasury said it sold 8,890,000 shares and recovered approximately $218.7 million ...

Congresswoman Maxine Waters Proposes Sweeping Changes to FCR

WASHINGTON, D.C. – Citing the countless Americans who have experienced heartbreak, frustration and devastation as a result of incomplete or erroneous information on their credit reports, today Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, released a proposal that would make sweeping reforms to ...

NABD Buy Here Pay Here Boot Camp Nov 8-9 2014

NABD Buy Here Pay Here Boot Camp Nov 8-9 2014 Be Sure to register for the Nov 8-9 2014 BHPH Boot Camp in Charlotte, NC. CALL 832-767-4759 FOR MORE INFORMATION HANDS-ON TRAINING at a premiere  BHPH operation in Charlotte, NC One-on-One Consultation | Comprehensive Procedures Manual Employee ...

Credit Acceptance Corp. Extends Warehouse Facility

Credit Acceptance Corporation, or CAC, said on June 23 that it had extended the maturity of its credit facility with a commercial bank syndicate by another year, from June 23, 2016 to June 23, 2017. Bank of America Corp. and RBS Citizens make up the syndicate.   Are ...

Suit Alleges, Recalls Diminished GM Model Values

It’s not yet clear if a new class-action lawsuit against General Motors Co. will impact the car company’s overall loan valuations, including those loans that have been securitized in the capital markets. A California consumer filed the suit today on behalf of all similarly impacted consumers, ...

NABD is offering hands-on training

NABD is offering hands-on training at a BHPH car lot in Charlotte, NC, August 2-3 2014. Learn first-hand all of the key financial & operational aspects of running a successful BHPH operation, and let the BHPH “Best Practices” you learn increase your profits! Contact NABD at ...

NIADA Convention June 23-26th Las Vegas

  Attend NIADA’s 68th Convention & Expo  June 23-26th at  Caesars Palace in Las Vegas NIADA will host interactive panels made up of Industry leaders, Regulators, and other Independent dealers to provide insight and real world solutions for topics affecting Retail AND Buy Here Pay Here ...

Honda and Mercedes-Benz Lead ALG’s Brand Perception of Quality

Brand perception now plays a vital role in new vehicle sales growth and used vehicle value retention. Honda and Mercedes-Benz deliver the highest quality vehicles, according to ALG’s Brand Perception of Quality (BPQ) study. Honda had the highest Mainstream brand ratings, followed by Toyota and Volkswagen. ...

FTC Fines CPS $5.5 Million

WASHINGTON, D.C., and IRVINE, Calif. – The Federal Trade Commission said Thursday that Consumer Portfolio Services will pay more than $5.5 million to settle charges that the subprime auto finance company used “illegal tactics” to service and collect consumers’ loans, including collecting money consumers did not ...

Credit & Collections Conference December 9-11, 2013

Auto Notes   Leedom Management Group, Inc. Is holding a Credit & Collections Conference December 9-11th 2013 Dallas, TX contact sales@leedomgroup.com for more information.   Looking for Auto Note Buyers that pay top dollar, call us today and see how EZ it is. 615-414-6708     Auto Note Buyer ...

Auto Note Buyer

Auto Note Buyer For more info check out this link  We Turn Auto Notes Into Cash               Are you an Auto Dealer or Finance Company that creates auto notes, buy here pay here auto paper? Do you need CASH for inventory or for your business or ...


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