AE eMagazine

Exeter Finance Corp. Completes $1.65 Billion Warehouse Funding Facility

IRVING, Texas — Exeter Finance Corp. announced last week that Exeter Funding II, a special purpose Delaware limited liability company and wholly owned subsidiary of the company, completed the renewal and extension of its warehouse funding facility. In conjunction with the renewal, the company increased available capacity to $1.65 billion, a $575 million, or 54% ... Read More »

New Online Tool Triggers Real-Time Leads for Dealerships

CLEARWATER, Fla. — AutoLoop’s new Instant Online Leads feature brings real-time alerts to sales personnel when prospective buyers are searching for vehicles online. Alerts are triggered by a customized form that online shoppers can fill out requesting follow-up information through a dealership’s website. The feature was added to AutoLoop’s Essentials marketing platform which is an ... Read More »

Feldman Joins Spencer Re from Allstate Dealer Services

NEW YORK — Spencer Re, a Spencer Capital Holdings company, today announced that Brian Feldman has joined the firm as executive vice president. “We are excited to welcome Brian to Spencer Re. His diverse F&I experience brings a unique understanding of the business to the firm,” said Ken Shubin Stein, chairman of Spencer Capital Holdings. ... Read More »

Deaths From Faulty Switch in G.M. Cars Edge Higher

The death toll from accidents involving General Motors cars with a defective ignition switch has edged up again, reported The New York Times. In a weekly update of claims filed to the victim compensation program run by the compensation expert Kenneth R. Feinberg, the program disclosed that 21 death claims had been deemed eligible for ... Read More »

Vehicle Service Contract

Power of the Pen

Wise F&I Integrates with MenuVantage

ST. LOUIS, Mo. – Wise F&I LLC, a leading finance and insurance product provider, integrated with MenuVantage, a web-based menu system. The integration with MenuVantage allows for Wise F&I products to be sold through MenuVantage, which offers a custom DMS integration menu selling system for automotive dealers. The advantages of this electronic integration between Wise ... Read More »

Bill to Rescind CFPB Auto Lending ‘Guidance’ Gains Support in Congress

WASHINGTON – More than 400 new-car dealers and dealer association executives from across the country traveled to the nation’s capital last week urging lawmakers to support a new bipartisan bill that nullifies the Consumer Financial Protection Bureau’s flawed “guidance” on auto lending (NADA). H.R. 5403 – Reforming CFPB Indirect Auto Financing Guidance Act – sponsored ... Read More »

Biweekly Payment Provider Bulks Up Compliance Practices

ORLANDO, Fla. — US Equity Advantage (USEA), a provider of biweekly loan processing for the automotive industry, has added two new components to its compliance practices: a code of ethics and certification test for dealership partners. They are designed to further enhance the consumers’ understanding of the costs and benefits associated with the company’s biweekly ... Read More »

Northwood University, EFG Companies Partner

DALLAS — This week, Northwood University and EFG Companies announced a national partnership to host thought leadership forums, develop specialized continuing education programs, conduct joint industry research, and cross-publish content. Under this new agreement, Northwood University has granted EFG Companies a seat on its National Automotive Marketing Advisory Board to represent the Finance & Insurance ... Read More »