Financial

ATLANTA — In a round of lending announced Tuesday, AutoTrader.com can tap into a new set of funds thanks to a financing arrangement it made with Goldman Sachs Lending Partners LLC and Wells Fargo Bank, National Association that provides the company with senior secured revolving credit and term loan facilities in an aggregate principal amount of […] [Read More]

AUBURN HILLS, Mich. — To give its dealer body another selling point in the spring season, Chrysler rolled out is May incentives on Tuesday, announcing that zero-percent financing through GMAC Financial Services is now available on most of its 2010 lineup. Breaking it down, on Chrysler brand vehicles, shoppers can choose from zero-percent financing for up […] [Read More]

TULSA, Okla. — In late-breaking news Tuesday, Dollar Thrifty Automotive Group issued a public letter to Avis Budget saying that its board is ready to entertain a substantially higher offer to acquire the company. More specifically, the company stated, "Consistent with its obligations under the Hertz merger agreement and with its fiduciary obligations to shareholders, the […] [Read More]

ATLANTA — Many great tools exist for repossession agencies and their clients to increase communication, keep costs down and manage the repo-to-remarketing processes efficiently. Oftentimes agencies and clients fail to partner closely and over-communicate early in their relationship or when new processes are rolled out, leading to underused or misused technology and missed expectations. As AutoIMS […] [Read More]

CITRUS HEIGHTS, Calif. — Repo Remarketing recently promoted one of its executives to vice president of sales and operation. Assuming this position is Claudia Plascencia. Plascencia joined Repo Remarketing seven months ago as senior operations manager. In her new role, the company indicated that Plascencia's team will be responsible for national sales and operations of repossession […] [Read More]

CARMEL, Ind. — Dealer Services Corp. of Indiana this week named a new chief financial officer to replace Marty McFarland, who became the company president back on Jan. 1. Taking on the role with more than two decades of experience is David Horan. "After an in depth search, we landed on a solid fit as David […] [Read More]

SAN FRANCISCO — LiveVox, a provider of hosted-dialer solutions, recently upgraded its custom multi-number dialing strategy suite. Company executives highlighted that now credit and collection call centers can build dialing strategies of up to 30 numbers per account. They believe the suite can better leverage information from skip-trace vendors. LiveVox went on to explained how the […] [Read More]

CARY, N.C. — Portfolio Recovery Associates, a purchaser and manager of defaulted and bankrupt consumer receivable portfolios for lenders, recently made its choice for a vendor to build predictive portfolio models. Company executives decided to go with the SAS Enterprise Miner for these services. "Portfolio modeling is critical for us," explained Patrick Lipsky, vice president of analytics […] [Read More]

SANTA BARBARA, Calif. — ALG has scheduled a free Webinar to discuss the latest residual value trends. The Webinar, titled "Learn How to Navigate This Year's Market Challenges and Come Out on Top," is set for 2 p.m. ET on April 29. "Between numerous recalls, emerging brands, and a resurgence of American muscle amid the continued […] [Read More]

SHELBY TOWNSHIP, Mich. — Todd Wysocki, president Michigan Auto Title Services, recently hired a new executive to serve as vice president of strategic planning and analytics. Coming over to MATS from Hyundai Motor Finance is Matthew Yoo. MATS is looking for Yoo to leverage key factors of success in the title industry and proprietary process developed […] [Read More]