Auto Credit Express Blog
July 30, 2008
Latest survey from U of M shows a “Dead Cat Bounce” in Confidence
In the latest report from the University of Michigan Surveys of Consumers, a small gain in consumer confidence is not seen as a portent of recovery from the current economic downturn.
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July 29, 2008
RouteOne Training Added to The ACE Group’s Special Finance Training Curriculum
RouteOne LLC announced today that Auto Credit Express, Inc. (The ACE Group) will include training on RouteOne’s web-based credit application management system as part of the core curriculum for students enrolled in The ACE Group’s Sub Prime University.
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July 28, 2008
ALG Repositions Vehicle Residual Values to Reflect High Fuel Costs
Automotive Lease Guide today announced that it is raising residuals on a number of small cars while lowering residual values on the Ford Expedition and Chevy Tahoe/Suburban GMC Yukon XL due to pressures in the used car market.
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July 25, 2008
New Subprime Auto Lender seeks to Inspire dealers
New Dallas – based lender enters the subprime auto lending field with experience at the helm.
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July 23, 2008
Unify your lead reports with the latest version of LotProOnline
With multiple dealership groups on the rise, it is more important than ever to insure that combined lead status reports are easy to understand and track. The latest version of LotProOnline will ensure that your subprime car department lead statuses are the same at multiple locations in any dealer group.
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July 21, 2008
DealerTrack Connects 700th Financing Source to Its Industry-Leading Network
In their latest press release, DealerTrack announced a milestone in the number of active finance sources connected to their indirect finance network.
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July 18, 2008
Confidence Tumbles with Surging Prices and Falling Jobs
The latest survey of consumers from the University of Michigan Reuters shows consumer confidence fell to near its 50 year low in June of 2008.
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July 16, 2008
Consumer Portfolio Services, Inc. Reports 2008 Second Quarter Earnings
Consumer Portfolio Services, a lender in the automotive subprime sector, recently announced earnings for the second quarter of 2008, ending on June 30th. Of particular note to car dealers is the drop in dollar amount of contracts purchased, as well as an increase in the average credit scores of the contracts purchased.
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July 14, 2008
CPS Announces New Financing Activity
According to a recent press release from Consumer Portfolio Services, the subprime car lender has obtained additional secured financing from a California-based investment firm that enabled the lender to pay down a portion of its revolving balance with Citigroup Financial Products. CPS also received an option to extend the maturity of its current debt.