Lenders

Fort Worth-based AmeriCredit announced this week that it had successfully issued $500 million in securities backed by subprime car loans.

Email sent to dealers outlines plans for the switch that is set to take effect on October 1st.

In the most recent study conducted by Benchmark Consulting, the Nonprime Auto Financing Survey shows FICO scores rising and LTV ratios dropping.

Highlights of the latest report from AmeriCredit include a 4th quarter net loss of $150 million and quarterly pre-tax income of $13 million, excluding goodwill impairment and restructuring charges.

According to New York-based Fitch Ratings, the U.S. automotive lending market has yet to see the light at the end of the economic tunnel.

According to a new study by AutoCount, the longtime leader in auto lending has taken a back seat to its Japanese rival.

In its most recent report to stockholders, Fort Worth, Texas-based subprime auto lender AmeriCredit reported a fourth quarter net loss of $150 million. In addition, the lender announced a cessation of operations in Canada as well as an end to its leasing and direct lending operations.

In a recent SEC filing, HSBC noted that a decision was made in July to discontinue new motor vehicle loan originations from the dealer and direct-to-consumer channels. These changes will take effect on August 6th.

With many of the major players pulling out of leasing, it might be time to expand your dealership?s lending horizons by getting into special finance.

New Dallas ? based lender enters the subprime auto lending field with experience at the helm.