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Jul 2, 2009
Welcome to Special Finance eWeekly, your weekly source for the latest news and alerts from the world of subprime,
nonprime and nearprime automotive finance.
Jul 01, 2009
Standard & Poor's Ratings Services said Tuesday that it lowered two credit ratings for AmeriCredit Corp., saying the auto finance company faces further deterioration in its loan portfolio.
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Jul 02, 2009
GE Money's Sales Finance division, a provider of consumer financing programs, launched Wednesday its new Web-based portal, the Business Center, to help dealerships with sales, marketing, operations and training.
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Jul 02, 2009
The U.S. Small Business Administration is now accepting applications from auto, RV and other dealerships for the SBA-guarantee dealer floorplan (DFP) financing.
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Jul 01, 2009
The Obama administration's proposal for reform of the financial system, which was introduced June 17, could pose a threat to securitization, says ratings firm DBRS.
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Jul 01, 2009
Companies within nearly every industry are on the verge of becoming immaterial with the changing consumer, according to a nationwide survey conducted by Resultant Research, the research arm of brand development firm Stealing Share Inc.
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Jul 01, 2009
Responding to reports that it suspended wholesale financing for some of the roughly 2,400 surviving Chrysler dealers, GMAC Financial Services said on Friday that it is “working aggressively” to support the Chrysler dealer body at large.
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Jul 01, 2009
Chrysler Financial announced Tuesday it is reducing its workforce by nine percent, as it restructures its business operations to align with current revenue expectations.
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Jul 02, 2009
General Motors simultaneously launched its “72-Hour Sale” on Wednesday, and announced that it has 74 different models that may qualify under the federal government's “Cash for Clunkers” program.
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Jul 01, 2009
Americans continued to tighten their spending through the first quarter this year, according to Mint.com, an online personal finance service.
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Jul 01, 2009
With gas prices expected to push over $3 per gallon during peak summer travel months, Hyundai Assurance Gas Lock is now guaranteeing a year's worth of gas at $1.49 per gallon on most Hyundai models leased or purchased between July 1 and Aug. 31.
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Jul 02, 2009
Edmunds.com estimated Wednesday that the average automotive manufacturer incentive in the United States was $2,930 per vehicle sold in June 2009, down $22, or 0.8 percent, from May 2009, but up $489, or 20 percent, from June 2008.
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Jul 01, 2009
DealerTrack Inc. announced Monday that the number of active financing sources connected to the DealerTrack network has reached 750.
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Jul 01, 2009
RouteOne LLC announced Monday that it has completed integration with InterActive Financial Marketing Group (IFMG). This integration will allow automotive dealers to integrate finance leads from IFMG's Internet Lead Management platform (D.O.L.L.A.R.) to RouteOne for a streamlined application submission process.
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Jul 01, 2009
The StoneEagle Group announced that VisionMenu Inc., a provider of training, menu and software development tools to the automotive and powersports industries, has selected SEcureIntegration to automate how VisionMenu client dealers use its menu, desking, and reporting applications.
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Jul 01, 2009
eOriginal Inc., a provider in electronic signatures, eVaulting and electronic transactions, announced that a leading U.S. automotive finance company selected eOriginal SmartSign Web to enable the creation and completion of electronic dealer finance transactions.
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Jul 01, 2009
Web2Carz.com Ltd. announced Monday the launch of AdVantage Post, a third-party advertising opportunity for auto dealers that promotes vehicle listings and dealerships.
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Jul 01, 2009
ActivEngage, a provider of proactive live chat programs for dealer Websites, released Tuesday an updated version of its live chat software and services that enables more personalized communication with consumers, enhanced efficiency in lead management and advanced, consolidated reporting.
full storyVisit Special-Finance.com for more news
The July 2009 issue of Special Finance is currently mailing to readers. This issue features the story of how a special finance manager and NBA legend Karl Malone teamed up to deliver subprime sales in Salt Lake City, Rob Hagen's needs analysis checklist, an analysis of the surprising correlation between unemployment rates and automotive ABS, one good reason why local law enforcement can hurt your repo efforts, and a new way to pre-qualify customers from marketing expert Denny Long.
For comments or questions regarding our eNewsletter and magazine or the special finance industry, please e-mail Gregory Arroyo, executive editor of Special Finance, at gregory.arroyo@bobit.com.
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