SOUTHFIELD, Mich. — Reporting its third-quarter results, Credit Acceptance indicated that its loan portfolio grew; however, increases in operating expenses and finance charges that expanded slower than loan receivables led the company to report lower income than the prior year. For the period, the company posted... Read More

SCHAUMBURG, Ill. — According to the latest data from Experian Automotive, the top 10 lenders represented 30.31 percent of all financed used vehicles in July. Melinda Zabritski, director of Automotive Credit for Experian Automotive, explained that while the top lenders lead the market in volume, their buying... Read More

New Lender Joins RouteOne

FARMINGTON HILLS, Mich. — RouteOne announced this week that it has added a new lender to its platform. California-based finance source Gateway One Lending & Finance has joined its Web-based credit application management system. GOLF provides indirect auto lending for a broad spectrum of consumer credit,... Read More

SAN FRANCISCO, NEW YORK and McLEAN, Va. — Wells Fargo Financial, Chase Auto Finance and Capital One Auto Finance each recently released their third-quarter results, indicating how each company did for the period. Starting with Wells Fargo Financial, which covers real-estate debt consolidation, auto financing,... Read More

NEW YORK — While GMAC reported strong results in its auto finance and insurance businesses, the company took a hit in its mortgage and credit market on its real estate side, which led the company to report a loss for the third quarter. The overall net loss came in at $1.6 billion, compared with net loss... Read More

ENGLEWOOD, Colo. — Lending Solutions recently launched Loan Generation Services, which is a process to capture members' loan pre-approvals via branch, phone or Web to make them accessible to members and auto dealers via the Internet. According to officials, this solution is the first step toward a... Read More

White River Liquidating Union Acceptance

INDIANAPOLIS — White River Capital, which includes subsidiaries Coastal Credit and Union Acceptance Co., recently reported that its net income for the third-quarter was down significantly compared to the same period in the previous year. One of the main reasons for the decline was Union Acceptance, which has... Read More

Chrysler Financial, Salesforce Partner

SAN FRANCISCO — In order to streamline its technology, Chrysler Financial has teamed up with to offer leasing and financing solutions. Through the partnership, Salesforce will provide customized business applications, along with consumer Web applications in order to drive efficiency and customer... Read More

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