Industry News

GM Financial Plans Nationwide Rollout of Leasing Program & Canadian Market Re-Entry -- February 10, 2011
SAN FRANCISCO — After launching a successful prime leasing pilot in Ohio, GM Financial is looking to roll this offering out to the rest of the nation. Additionally, the company is eyeing a re-entry into the Canadian marketplace as well. Kyle Birch, executive vice president of dealer services for AmeriCredit/GM Financial, explained ... [ Full Story ]

Navy Federal Kicks Off Auto Buying Program -- February 10, 2011
VIENNA, Va. — Navy Federal Credit Union announced the launch of its auto referral, which is designed to help connect vehicle shoppers with participating dealers. "The program offers members a VIP experience at participating dealerships with ... [ Full Story ]

Fitch Sees U.S. Auto ABS Asset Performance as Stable Entering 2011 -- February 10, 2011
NEW YORK — Fitch Ratings believes that since U.S. auto loan asset-backed securities posted steady results in December, the market is entering 2011 on firm footing. Fitch also contends delinquency and loss performance is currently within range of ...
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Fed: Average New-Car Interest Rates Finally Take Downward Turn -- February 10, 2011
WASHINGTON, D.C. — The Federal Reserve discovered December's average interest rate on new-car loans at auto finance companies moved lower by the largest amount in six months. After climbing higher for five consecutive months, the December average ticked down to ...
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One of DealerTrack's New Initiatives Allows Dealers to Pre-Qualify Consumers for Auto Loans -- February 08, 2011
SAN FRANCISCO — At the National Automobile Dealers Association's Convention over the weekend DealerTrack unveiled several new initiatives, including a new tool within its CreditOnline solution for dealer websites that allows consumers to submit credit applications, giving dealers the opportunity to automate loan pre-qualification. Basically, CreditOnline provides ... [ Full Story ]

Manheim: 2010 Consumer Credit Conditions Aided BHPH Market, More -- February 08, 2011
ATLANTA — Findings contained within Manheim's annual Used Car Market Report insisted buy-here, pay-here dealer sales rebounded faster than the overall market last year. Why? Officials believe that although credit loosened in the subprime segment in 2010, BHPH dealerships often were ...
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