2 ways tighter credit helped Car-Mart

2 ways tighter credit helped Car-Mart BENTONVILLE, Ark. — Along with elaborating a bit about his upcoming retirement, America’s Car-Mart chief executive officer William “Hank” Henderson described how underwriting tightening in other areas of the auto-finance market is benefitting the...

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What is BHPH?

What is BHPH? Buy Here Pay Here (BHPH) refers to a method of running an automobile dealership in which dealers themselves extend credit to purchasers of automobiles. BHPH can provide...

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3 tips for credit reporting during natural disasters

FORT WORTH, Texas -  As reports continue to arrive stemming from the damage caused by Hurricane Harvey in Texas and elsewhere along the Gulf Coast, Ignite Consulting Partners gave buy-here, pay-here dealers and other auto finance providers three reminders associated with...

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J.D. Power’s latest dealer study

J.D. Power’s latest dealer study underscores importance of underwriting department COSTA MESA, Calif. — Answering questions such as "What's needed to complete this customer's financing?" appears to be the main theme of which finance companies scored well in the J.D....

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Used Car Sales Likely To Reach 3.2 Million in June

  Used-car sales likely to reach 3.2 million in June CARY, N.C. — Used-car sales this month could trend down a bit from May, but they should maintain the same annualized rate, according to Edmunds. The company released its monthly industry sales...

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New Regulations in NJ & NV

Recently, New Jersey and Nevada both passed legislation regulating GPS and starter-interrupt devices.  In both states, the laws go into effect July 1, 2017. PassTime, along with its industry partners TSPA and NIADA, were heavily involved in lobbying against the...

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AutoGravity enters NJ, its 49th state

AutoGravity enters NJ, its 49th state IRVINE, Calif. — AutoGravity announced on Thursday that it has introduced its car financing mobile app to New Jersey, making it the 49th state in which the company currently operates. The AutoGravity app is available...

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Ford Recalls More Than 200,000 Vehicles

Ford Recalls More Than 200,000 Vehicles Ford Motor Co. is recalling 208,584 2014 Escape; 2014-15 Fiesta ST; 2013-14 Fusion and 2013-15 Transit Connect vehicles equipped with 1.6L GTDI engines. Financial Solutions

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Consumers on “trade-in treadmill”

Moody’s sees consumers on ‘trade-in treadmill’ NEW YORK — In a new report released on Monday, Moody’s Investors Service explained what likely might be happening in the war rooms at auto finance companies nowadays. Financing providers are increasingly faced with the...

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Appeals court grants rehearing, vacates decision that questioned CFPB’s constitutionality

Appeals court grants rehearing, vacates decision that questioned CFPB’s constitutionality WASHINGTON, D.C. — As reported by other media outlets as well as the American Financial Services Association and Hudson Cook, the U.S. Court of Appeals for the District of Columbia...

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