SVR Repo is no-frills GPS solution for budget-conscious auto dealers who simply need to locate their vehicles for repossession.
System would allow it to remotely take back possession of future models whose loan holders are delinquent.
Recent data points to more auto borrowers struggling to keep up with loans, but default rates remain below pre-pandemic levels.
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.
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).
The misguided attack on starter interrupt devices stems from a fundamental misunderstanding of their function and the benefits they offer to car buyers.
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.
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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