Category: Industry News

Current amount of subprime paper is ‘probably a good thing’

Posted by crosbyru - November 10, 2016 - Industry News
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Current amount of subprime paper is ‘probably a good thing’ CHICAGO — With subprime paper representing only about 16 percent of the total outstanding auto finance balance figure TransUnion reported for the third quarter, the bureau’s top industry analyst indicated that’s not too much lower-end paper currently in portfolios. “Overall, it’s probably a good thing,” […]

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Companies might Challenge CFPB

Posted by crosbyru - October 12, 2016 - Industry News
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Companies might challenge CFPB after court ruling CARY, N.C. — More industry reaction percolated stemming from Tuesday’s decision by the U.S. Court of Appeals for the District of Columbia Circuit involving the Consumer Financial Protection Bureau, which on the same day handed out a $28.5 million enforcement action against Navy Federal Credit Union for what […]

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Sham Website Poses as Legitimate Dealership

Posted by carguy - February 17, 2016 - Industry News

Better Business Bureau of Minnesota and North Dakota was alerted recently to a case of business identity theft targeting Import Auto Sales LLC, a used-car dealership located in St. Louis Park, Minn. A fraudulent website with a similar business name and using the company’s physical address attempted to solicit deposits via prepaid debit cards by […]

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AutoNation’s F&I Operations Posts $1,538 Per-Copy Average for 2015 | Sell Auto Notes

Posted by carguy - February 13, 2016 - Industry News

5. AutoNation’s F&I Operations Posts $1,538 Per-Copy Average for 2015   AutoNation’s F&I operations, or what the group refers to as Customer Financial Services, lived above $1,500 in F&I gross profit per vehicle retailed (PVR) in 2015, with the business unit’s full-year revenues rising by $100.5 million from 2014.   Sell your auto notes for […]

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Toyota Motor Credit Settles with CFPB | Sell Auto Notes

Posted by carguy - February 13, 2016 - Industry News

1. Toyota Motor Credit Agrees to Lower Markup Caps to Settle CFPB Allegations The three-year standoff between Toyota Motor Credit, the Justice Department and the CFPB is over, with the captive agreeing to pay up to $21.9 million in restitution to minority borrowers the regulators allege were overcharged on their auto loans. The captive also […]

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Cox Auto names senior VP of corporate development

Posted by carguy - January 19, 2016 - Industry News

Cox Auto names senior VP of corporate development ATLANTA — Cox Automotive announced Tuesday the appointment of Eric Jacobs as the company’s new senior vice president of corporate development. Most recently working for Dealertrack Technologies, Jacobs is now responsible for leading strategic business development for Cox, including mergers and acquisitions, while also continuing to create […]

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NIADA BUYS TWENTY GROUP ASSETS

Posted by carguy - January 18, 2016 - Blog, Industry News

The National Independent Automobile Dealers Association acquired the operations and assets of Leedom & Associates LLCC located in Sarasota, FL. the transaction, completed Dec 14th 2015 and transfers ownership of all Leedom & Associates Twenty Groups, seminars, workshops, boot camps and consulting as well as the Dealer Business Journal and the BHPH World Convention to […]

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NABD 2015 National Conference May 19-21,2015

Posted by carguy - May 11, 2015 - Industry News, Up Coming Events

Don’t miss the NABD 2015 National Conference May 19-21,2015 The National Alliance of Buy Here, Pay Here Dealers (NABD) today announced that it will host its 17th Annual BHPH Conference at the Wynn in Las Vegas May 19-21, 2015. The program is designed for both new and experienced operators who want to be more successful […]

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NADA Guide Names Top Used Luxury

Posted by carguy - April 5, 2015 - Industry News

In conjunction with the 2015 New York International Auto Show, NADA Used Car Guide released a report listing used luxury automobiles that consumers might consider over new mainstream vehicles. The report analyzed three groups of 3-year-old or newer luxury vehicles at $20,000, $25,000 and $30,000 price points, with the 2012 Infiniti G sedan, Lexus IS250 […]

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N.C. Dealerships Reach $225K Settlement in Predatory Loan Case

Posted by carguy - February 18, 2015 - Industry News

N.C. Dealerships Reach $225K Settlement in Predatory Loan Case Two used-car dealerships and their owner reached a settlement this month with the Department of Justice and the state attorney general. The settlement resolves a lawsuit that alleged the dealerships charged African American buyers more for loans and repossessed vehicles without reasonable notice.   Read More […]

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