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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. The company said there were not material changes to the terms of the facility, which continues to be secured, by a lien on the company’s assets. As of this month, CAC had $90.1 million outstanding in the facility.
Auto lender Arivo Acceptance wanted to develop new software faster, so it enlisted a group mainly comprised of interns with...
Extra-long car loans can lower consumers’ monthly payments, but they also keep dealers from selling vehicles to those customers for...
Alternative asset management firm Bayview Asset Management in the past five years has purchased about $25 billion in auto collateral through bulk...
Luxury vehicle dealerships are fighting a rapidly growing scam in which fraudsters impersonate delivery companies to steal vehicles. Kalamazoo, Mich.-based...
David Thompson
David Thompson
David Thompson
