Auto Finance Reaches All-Time High

https://www.youtube.com/watch?v=fgAEeKLNuig
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 ...
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State Indicts Dealer for Deceptive Practices

https://www.youtube.com/watch?v=fgAEeKLNuig
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 ...
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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.
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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 ...
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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 ...
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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 ...
Read More

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 ...
Read More

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 ...
Read More

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 ...
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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 ...
Read More

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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 ...


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