Credit Acceptance Corp. has been named, for the sixth year in a row, as one of the Fortune 100 Best Companies to Work For, according to global research and consulting firm Great Place to Work and Fortune.


Credit Acceptance was ranked #59 out of the best companies in America, up two spots from last year’s ranking.


Applicant companies opt to participate in the selection process, which is based on survey feedback representing more than 4.3 million employees, with respondents rating their workplace culture on 60-plus elements of the workplace. These include trust in managers, compensation, fairness, camaraderie and workplace traits linked to innovation.

Santander Consumer USA and Chrysler Capital are offering eligible customers who sign up for paperless statements as of April 1 the chance to win a $10,000 grand prize or one of five $500 prizes for each brand.


The auto creditors’ "Go Paperless" campaigns began earlier this month. No purchase is necessary.


When eligible Santander Consumer USA and Chrysler Capital customers enroll in e-statements at the appropriate website, they will be automatically entered into the sweepstakes. Eligible Santander Consumer USA and Chrysler Capital customers who already are enrolled in e-statements, also known as electronic or paperless statements, will be entered as well.

General Motors Financial Co. announced income from continuing operations before income taxes of $416 million for the fourth quarter.


That is down from $498 million for the third quarter and up from $301 million for the fourth quarter of 2017.


Retail loan originations were $8.4 billion for the quarter, compared to $6.7 billion for the third quarter and $4.4 billion for the fourth quarter of 2017.


The outstanding balance of retail finance receivables, net of fees, was $40.7 billion at Dec. 31.


Operating lease originations were $5.2 billion for the fourth quarter, compared to $5.4 billion for the third quarter and $5.8 billion for the fourth quarter of 2017.


Retail finance receivables 31-60 days delinquent were 3.3 percent of the portfolio at Dec. 31, down from 4.1 percent at Dec. 31, 2017. Accounts more than 60 days delinquent were 1.4 percent of the portfolio at Dec. 31, down from 1.7 percent at Dec. 31, 2017.


Annualized net charge-offs were 1.8 percent of average retail finance receivables for the fourth quarter, down from 2.2 percent for the fourth quarter of 2017.


The company had total available liquidity of $26.2 billion at Dec. 31, consisting of $4.9 billion of cash and cash equivalents, $18 billion of borrowing capacity on unpledged eligible assets, $0.3 billion of borrowing capacity on committed unsecured lines of credit, $1 billion of borrowing capacity on the Junior Subordinated Revolving Credit Facility from GM, and $2 billion of borrowing capacity on the GM Revolving 364-Day Credit Facility.

Auto finance balances showed an increase in the Federal Reserve Bank of New York’s Center for Microeconomic Data’s recently issued quarterly report on household debt and credit.


The balance increased by $27 billion to $1.27 trillion.


The number of consumers going into serious delinquency (90 days or more delinquent) remained flat at 2.3 percent.


The number of credit inquiries within the past six months - an indicator of consumer credit demand - increased slightly, but remains among the lowest seen in the history of the data.

Carvana Co. has partnered with Bank of America to offer a digital car buying process.


The Bank of America digital car shopping and financing platform will now add more than 15,000 Carvana vehicles to its existing inventory of both new and used vehicles available via dealers across the country.


Customers visit Bank of America’s digital car shopping tool from a computer or mobile device. Once there, they can select a Carvana vehicle, submit an application to Bank of America for immediate financing terms, finalize the transaction on Carvana.com, and even trade in their current vehicle.


All Carvana vehicles listed on Carvana.com and on the Bank of America car-shopping platform are Carvana Certified.

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