Used Car NewsUsed Car News

  • ABG 71.22 +0.73 - +1.11%
  • AN 54.83 -0.21 - -0.41%
  • CACC 124.02 +0.19 - +0.15%
  • CAR 62.98 -0.66 - -1.04%
  • CARZ 39.44 +0.0727 - +0.18%
  • CPRT 39.50 +0.12 - +0.36%
  • CPSS 7.50 +0.05 - +0.72%
  • CRMT 45.00 -0.12 - -0.29%
  • DAI N/A - N/A
  • F 16.85 +0.05 - +0.30%
  • FIATY 0.00 +0.19 - +1.88%
  • GM 33.80 +0.08 - +0.24%
  • HMC 34.73 -0.37 - -1.07%
  • HTZ 27.85 +0.09 - +0.33%
  • KAR 34.89 -0.14 - -0.46%
  • KMX 53.40 +0.08 - +0.15%
  • LAD 82.60 +0.74 - +0.92%
  • MZDAF 0.00 +0.264 - +1.10%
  • NSANY 0.00 +0.18 - +0.92%
  • PAG 44.66 +0.05 - +0.11%
  • SAH 25.10 +0.35 - +1.47%
  • TM 120.00 +0.43 - +0.37%
  • TRAK 46.00 -0.33 - -0.73%
  • TSLA 260.70 +6.88 - +2.71%
  • TTM 59.82 -0.94 - -2.00%
  • VLKAY 0.00 +0.49 - +1.09%
  • VROM N/A - N/A

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Small Creditors Face Domino Effect

Rising U.S. subprime auto lender competition and an increase in start-ups means problems at one lender could quickly spread to others, reported ratings agency Fitch.

The risks to the sector mean that most subprime auto transactions would not earn higher investment-grade ratings and should be capped. Fitch rates transactions from just three of the nearly 20 active subprime auto lenders: GM Financial (AMCAR), Santander Consumer USA (SDART) and Ally Financial (CARAT).

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RDN Promotes Execs

ADESA announced management changes at the company’s subsidiary, Recovery Database Network (RDN).

Zach Hallowell has been promoted to president of the organization.

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Northwood, EFG Partner on Think Tank

Northwood University and EFG Companies announced a national partnership to host thought leadership forums, develop specialized continuing education programs, conduct joint industry research, and cross-publish content.

Northwood University has also granted EFG Companies a seat on its National Automotive Marketing Advisory Board to represent the Finance & Insurance sector of the automotive industry.

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Small Business Owners Have No Regrets

Starting and sustaining a small business is no small feat, but according to a new study, more than nine in 10 small business owners say they have no regrets, and nearly just as many would do it all over again if given the chance.  

Commissioned by Bank of the West and conducted online by Harris Poll in May, the "Pay It Forward" survey uncovered the good, the bad and the ugly of small business ownership – including best practices, lessons learned, pitfalls to avoid and inspiring advice – from more than 500 owners in operation for five years or more.

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