A feeling of optimism was alive and well during the recent National Automobile Dealers Association Convention held in Las Vegas, where Ally Financial surveyed dealers about their hopes for sales in 2012. 

Nearly half of dealers surveyed expect their sales to increase by 10-20% this year, and almost another third are even more bullish in expecting sales to grow greater than 20%.

Nearly 75% of dealers surveyed expect consumer confidence to be the key in sustaining sales momentum,…

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There are a growing number of indicators, both subjective and objective, that point to an auto finance industry that is in full bloom. The amount of…

Is Chrysler looking to structure its own captive again? Just this week, we heard about Volvo's announcement to form Volvo Car Financial Services through a financing partnership with Bank of America. Today, The Wall Street Journal is talking about the possibility of Chrysler heading down a similar path. 

Chrysler, which gave up Chrysler Financial…

With Facebook headed for a massive initial public offering, there was speculation that perhaps Ally Financial would reboot its IPO. Not happening, apparently.

Bloomberg is reporting that Ally's IPO will remain on hold as it continues to work through its legacy mortgage…

Cincinnati, OH – February 1, 2012 -- Automobile Consumer Services, Inc. (ACS) has released a mobile version of DriveItNow, an innovative online pre-qualified payment quoting service.



Mobile car shoppers can now see instant monthly payments for which they qualify with only a few keystrokes or by using their Facebook login. This industry-first service builds on the success of the website version already in use by dealers across the United States. …

LAS VEGAS – This year will mark the fulfillment of a promise made by Volvo Cars of North America to its U.S. retailers as it announced the establishment of Volvo Car Financial Services (VCFS). Later this year, the new captive arm will start to provide Volvo retailers in 50 states with a variety of financial services products funded through Bank of America.

Based in Rockleigh, N.J., the captive will provide retail financing and leasing on both new and pre-owned Volvo vehicles. The…

LAS VEGAS ― From regulatory change to growth and pent-up demand, executives here at the American Financial Services Association Conference spoke openly about the biggest challenges facing the industry. And although optimism rang throughout the CEO panel session, execs agreed the industry is not quite out of the downturn. 

Employment is getting better, and the SAAR is expanding ― two good indicators of a solid recovery ― but "we've…

CHICAGO, February 1, 2012– Resource Automotive, Inc., a unit of The Warranty Group, Inc., today announced Steve Barrett has joined the company as executive vice president, with responsibility for automotive reinsurance.

Previously an executive with the company, Barrett joined Resource in 1980 as a finance and insurance specialist, moving through several positions before becoming…

Consumers remain very concerned about the price of their new automobile purchases, but are not worried about their ability to obtain financing, according to the results of a survey conducted by J.D. Power and Associates. 

The results were part of J.D. Power's annual Avoider Survey, which analyzes why people choose not to buy particular vehicles. 

The most popular reason that kept people from…

With plans to launch its Commercial Lending Services business in April, General Motors Financial has chosen DataScan Technologies LLC as its systems provider for the new venture.

GM Financial will begin to market the Commercial Lending Services suite of products at the National Automobile Dealers Association's annual conference this week in Las Vegas. The lender’s plan is to offer floorplan financing; capital, real estate, and construction loans; floorplan insurance; and cash…

CHICAGO, January 31, 2012 – The Warranty Group, Inc., the leading provider of service contracts and related benefits, today announced Pam Gruszka has been appointed vice president human resources.

Gruszka brings a diverse background in human resources and business to her role, with deep experience in the insurance industry, manufacturing and, most recently, health care. Her career includes…

Gainesville, GA – Black Book announced today that Jeff Bunch has joined the company as their Director of Automotive Licensing.   In this role, Bunch will be responsible for leading Black Book’s efforts to increase revenue growth from the licensing of Black Book data to dealers and companies who serve the dealer community.

Tom Cross, president of Black Book commented, “I am thrilled to have Jeff…

Remarketing service provider Manheim has inked an agreement to purchase used-vehicle floorplan company Dealer Services Corp.

Expected to close within the first quarter of the year, the acquisition of the Carmel, Ind.-based company that focuses on independent dealers complements Manheim’s current lending products provided through Manheim Financial Services.

DSC…

There has been an interesting debate online about the role that financial institutions should play in helping consumers repair their credit scores, and I thought I would weigh in. 

The debate started here, with a blog post by Felix Salmon. From there,…

It's that time of year again, when your mailbox fills up with tax forms, commercials tout the "best" places to get your taxes done, and every night on your way home -- if you are me -- you get to pass the Liberty Tax guy standing in front of a spotlight, masquerading as the Statue of Liberty. 

So what are people doing with their tax refunds? Vacations?…

A year ago, Valley National Bank said it wouldn’t cave to irrational pricing. Apparently, the bank has stood its ground.

The bank’s loan portfolio dropped 9% last year ― to $772.5 million from $850.8 million ― in part, because of competition. From the Wayne, N.J. bank’s…

In a new relationship for Ally Financial, Vehicle Production Group has selected the finance company as the preferred financing provider for its U.S. vehicles.

Ally Financial will offer wholesale financing, floorplan insurance, and remarketing services for VPG dealers, as well as retail financing for their customers, said Mark Manzo, Ally’s vice president of alliance sales.

While preparing to introduce the MV-1 mobility vehicle in September 2011, VPG had ongoing discussions with…

No layoffs, benefits and unlimited time off made three auto and auto finance players among the best companies to work for in 2012, according to a ranking by Fortune magazine.

JM Family Enterprises, Navy Federal Credit Union and Capital One made the ranks this year notching the 17th, 95th and 98th spots, respectively. It’s a true comeback for Navy Federal Credit Union, who hasn’t been ranked since 2008 (ranked 78).…

What is going on in Alabama these days? 

The average amount of auto loan debt held by Alabama consumers rose 30% in 2011, compared with a year earlier, according to a survey released by CreditKarma.com. The average amount of auto loan debt in 2011 in Alabama was $20,996, compared with $15,504 nationally. 

The national average of auto loan debt increased 2% from December…