Financial News

Westlake Financial Services celebrated 30 years in business on Aug. 30. To celebrate, Westlake hosted an employee appreciation event to celebrate three decades in the auto industry and honor its…
Ally Financial will exit both the Transportation Equipment Finance and the RV Commercial and Consumer lines of business. Ally RV dealers were notified of the decision earlier in August, with…
Automotive finance amounts and monthly payments continue to reach new highs, but consumers seem unfazed. According to Experian's State of the Automotive Finance Market report, the percentage of 30- and…
Interest rates for new cars are at one of their lowest points in three years, according to the website WalletHub. Average new-car financing today is 12 percent less interest than…
Credit Acceptance Corp. completed a $398.3 million asset-backed non-recourse secured financing. Pursuant to this transaction, Credit Acceptance contributed loans having a net book value of approximately $500.1 million to a…
ACV Auctions has hired Matthew George as chief financial officer and Craig Anderson as chief corporate development officer. George and Anderson will help manage ACV’s expansion and strategic plan as…
America’s Car-Mart Inc. reported higher net earnings on higher revenues in the quarter ended July 31. Net earnings for the buy-her, pay-here chain was $10.9 million, up from $7 million…
Auto finance defaults rose in July, according to S&P Dow Jones Indices and Experian. The S&P/Experian Consumer Credit Default Indices show the auto finance default rate increased to 0.96 percent…
Spireon experienced substantial growth and achieved a number of corporate milestones in the first half of 2018. In the franchise auto dealer segment, Spireon increased Kahu device shipments by 65…

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