Michigan-Based Credit Acceptance Corp Posts Strong Q1

With sales force and loan terms increasing, Credit Acceptance Corp is on the rise. With a 9.8 million dollar increase in net income in comparison to last year’s first quarter, the company has proudly reflected on its accomplishments. Loan contract terms have reached a competitive length of 48 months, in comparison to the past’s 36 months, which now gives Credit Acceptance Corp a tactical advantaged to expanding its edge on the competition. A redesigned focus that’s geared towards positive collections and dealer support adds hope for a promising future. Such hope aspires that in four years this quarter will be viewed as the great launch off that birthed great future success.

Read the full article here:
http://www.subprimenews.com/spn/news/story.html?id=2916

Ally Financial To Continue Leasing Support Of Chrysler vehicles

Although Ally Financials exclusive agreement with Chrysler automaker expired on Tuesday, the company will continue its leasing support. The big change coming in the future will be that Ally Financial will no longer arrange subvented leases for Chrysler vehicles but rather this will be handled by Chrysler Capital. The new private-label, full-service lending program was created by Santander Consumer USA and Chrysler.

The Chrysler subvented originations declined since the second quarter of last year when the company posted a recent-high of $0.7 billion. Although Ally Financial reports an overall normalization of its financial based primarily on higher dealer stock prices. So far, Ally is on track with its company financial projections for the year.

Read the full article here:
http://www.subprimenews.com/spn/news/story.html?id=2920