Tag Archives: sell notes

Latest Used Car News

1. U.S. Bank Monitoring F&I Product Pricing

U.S. Bank told dealers this week that it’s monitoring how they price F&I products. If its monitoring program finds ‘unexplained differences in pricing or excessive add-on product financing on a prohibited basis,’ dealers will be asked to provide an explanation.

2. Disparate Impact Ruling Expected This Week

A case debating a legal theory used by the Consumer Financial Protection Bureau to go after auto finance sources for perceived discrimination in dealer markup is expected to be ruled on this week by the U.S Supreme Court.

3. TrueCar Denies Claims in CNCDA Lawsuit

The California New Car Dealers Association filed a lawsuit against TrueCar last Wednesday, alleging the that the shopping site is not in compliance with certain sections of the California Vehicle Code – a claim TrueCar has denied.

Get cash for your auto notes.

BMW to Increase Production in China

Used Car Sales
BMW AG announced that it will be making three new models in China this week, significantly increasing its production in the region. The German carmaker said these new models would increase the number of models it manufactures in the world’s largest auto market to Six from three

Sonic Breaks Used Sales Record Hits Goal of 100 Units Per Store

Used Car Sales
CHARLOTTE, N.C. — As the public dealer groups began reporting their second-quarter performances in full force, Sonic Automotive revealed it reached an all-time high for used sales.

The company sold a record 28,514 pre-owned units in Q2.

Pre-owned units sales per store per month were up, as well, reaching 100 units in May and 93 units for the second quarter as a whole.

GO Financial completed the sale of a substantial equity interest in GO Financial to Manheim today

Subprime auto finance company GO Financial completed the sale of a substantial equity interest in GO Financial to Manheim today, furthering connecting the dealer-support efforts of GO Financial and NextGear Capital.

GO Financial is now majority owned by DriveTime chairman Ernie Garcia and DriveTime president and chief executive officer Ray Fidel and minority owned by Manheim. NextGear Capital still is wholly owned by Manheim.
– See more at: http://www.autoremarketing.com

Establishing the Market Value of a BHPH Auto Note

Establishing the Market Value of a BHPH Auto Note
BHPH Notes
•Every note, or contract has a unique market value.
•The market value of a note is the highest cash price an informed and proactive seller can sell it for on the open market.
•The market value of a note will be somewhat less than the outstanding principal balance remaining on it.
•The market value of a note is inversely related to the general interest rate environment.
•There are a number of important factors that determine the market value of a note.
◦The type of collateral
◦The value of the collateral
◦The amount of owner’s down payment
◦The current note balance
◦The interest rate
◦The number of payments made and remaining
◦Your experience receiving payments

http://sellautonotes.com/