SubprimeSigns of life in deep subprime lending 12:01 am U.S. ET | June 10, 2013 Deep subprime lending is finally in recovery mode. "We have certainly seen a lot of growth; there are more loans to be had down in that area," said Melinda Zabritski, senior director of automotive credit for Experian Automotive.... Read More »
JIM HENRY Are worries over slower, smaller tax refunds overblown? 12:01 am U.S. ET | May 22, 2013  Some lenders complained in first-quarter earnings reports about smaller and later tax refunds. IRS refund statistics weren’t down by much, but any change is important because tax refunds contribute to the annual peak in subprime financing, according to dealers and subprime lenders.... Read More »
JIM HENRY Subprime scrutiny could open a real can of worms 12:01 am U.S. ET | May 8, 2013  Here's a disturbing thought: As much as the Consumer Financial Protection Bureau has upset auto lenders and dealers, it hasn't even gotten around to the vast category of subprime auto lending.... Read More »
Auto loans delinquent 60 days or more edge up 1:16 pm U.S. ET | Feb. 21, 2013 The number of auto loans delinquent 60 days or more ticked up in the fourth quarter compared with the same quarter a year earlier, and it was the first quarterly increase for such loans in three years, according to Experian Automotive.... Read More »
BEST PRACTICES Dealer pitches loans to win subprime sales 12:01 am U.S. ET | Sept. 24, 2012  The Suburban Collection, a Detroit-area auto dealership group, has energized sales to customers with subprime credit by recasting a Web site and boosting online marketing.... Read More »
JIM HENRY GM Financial poised to strengthen subprime lending 12:01 am U.S. ET | Sept. 12, 2012  So, how good is business for GM Financial? It set a record-low cost of funds last week, paying just 1.5 percent interest on an asset-backed securities transaction.... Read More »
Dealers pump subprime sales with Web leads 12:01 am U.S. ET | Sept. 10, 2012  Dealers are gobbling up finance leads generated by Web sites that help many subprime car shoppers determine what they can afford. Auto Credit Express, a major supplier of subprime finance leads, is enjoying strong demand, said Rich LaLonde, president of Auto Credit Express and owner of two Kia dealerships, all in suburban Detroit.... Read More »
FINANCE & INSURANCE Subprime time 12:01 am U.S. ET | Sept. 10, 2012  Lenders are increasingly saying yes to credit-challenged customers. During the first quarter of 2012, vehicle loans to subprime borrowers increased by 11 percent, according to Experian Automotive.... Read More »
FINANCE & INSURANCE Subprime lenders rising after recession-era cuts 12:01 am U.S. ET | Sept. 10, 2012 Independent subprime auto lenders are on the rise, propelled by several positive factors that yield them more money to lend. Several independents report they are signing up franchised new-car dealers across the country.... Read More »
FINANCE & INSURANCE AutoNation's pilot subprime unit rescues deals in South Florida 12:01 am U.S. ET | Sept. 10, 2012  AutoNation Inc. will expand a pilot program that is rescuing about 13 percent of the retailer's rejected subprime deals in South Florida.... Read More »
Lenders to dealers: We'll take the deal 12:01 am U.S. ET | Sept. 3, 2012 After the collapse of credit in the recession, lenders have returned strongly to financing auto sales. Car dealers are finding lenders eager to finance their deals, including subprime loans. In fact, so many auto lenders are trying to sign up to buy indirect loans from Findlay Automotive Group in Henderson, Nev., that it's almost a nuisance.... Read More »
JIM HENRY Bad loans spell good news for dealers 12:01 am U.S. ET | Aug. 8, 2012  Good news for dealerships: Credit losses are set to increase from historic lows. Why is that good news? It means lenders are approving more subprime loans, something dealers have wanted.... Read More »
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Special Report
 Dealer O.C. Welch's big-truck turnaroundAfter Mercury's demise, South Carolina Ford-Lincoln dealer O.C. Welch had to find a way to replace lost revenue. He decided to load up on Super Duty pickups – and sell them online. Mon., June 17» Watch the Video |
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Don Davis Dealerships, Inc. -- Lake Jackson, Texas, United States - Service Manager
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