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SVR Repo is no-frills GPS solution for budget-conscious auto dealers who simply need to locate their vehicles for repossession.
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System would allow it to remotely take back possession of future models whose loan holders are delinquent.
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Recent data points to more auto borrowers struggling to keep up with loans, but default rates remain below pre-pandemic levels.
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The software company today released details on an initiative to electronically integrate major finance sources with F&I product providers in a bid to develop better F&I product cancellation processes and systems.
Read More →The Justice Department announced that HSBC Finance Corp. has agreed to pay $434,500 to settle charges that its vehicle repossession practices violated the Servicemembers Civil Relief Act (SCRA).
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The misguided attack on starter interrupt devices stems from a fundamental misunderstanding of their function and the benefits they offer to car buyers.
Read More →Two used-car dealerships and their owner reached a settlement this month with the Department of Justice and the state attorney general. The settlement resolves a lawsuit that alleged the dealerships charged African American buyers more for loans and repossessed vehicles without reasonable notice.
Read More →If a finance company buys retail installment contracts from auto dealers in its home state, what happens when a consumer named in one of those contracts moves to a state with different laws from the company’s home state? Attorney Nikki Munro discusses a recent case that poses that very question.
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