The use of home equity loans to buy new cars is on the rise again, though not nearly to pre-recession levels, according to Bandon, Ore.-based CNW Research’s Art Spinella. He discussed this shift in the March 2012 Issue of CNW’s Retail Auto Summary, saying the increase in this form of financing is especially true among … Read More »

ARLINGTON – SFG Finance LLC has named Robert Chickowski senior vice president-manager of portfolio acquisitions, according to a March 26 press release. In this position, Chickowski is responsible for the supervision of due diligence and portfolio acquisition. Chickowski brings more than 40 years of experience in the consumer and commercial finance industry. Prior to SFG … Read More »

Chrysler Group LLC will begin rolling its new Dodge Dart compact car into North American showrooms in May as the Auburn Hills, Mich., auto maker looks to return to the small car market. Current plans call for the company to produce 2,000 Darts in May, said Dodge brand chief Reid Bigland. Output will grow to … Read More »

BMW AG, the world’s largest premium carmaker, is recalling about 1.3 million cars for repair worldwide due to a possible problem with a battery cable cover in the trunk, the carmaker said on Monday. The recall affects 5- and 6-Series BMWs built between 2003 and 2010, BMW said in a statement. “In some remote cases, … Read More »

The U.S. Treasury Department, which put $17.2 billion into a bailout of Ally Financial Inc., would prefer a breakup and sale of the lender because an initial public offering may not succeed, according to people familiar with the matter. Treasury officials are telling Ally executives, directors and financial advisers that an IPO is unlikely soon … Read More »

VENICE – Mota Motors reported this week that its certified pre-owned (CPO) marketing program, SureSale Certified, is now available in New York and New Jersey. The comprehensive program, which successfully launched in Phoenix earlier this year, expands the range of vehicles eligible for certification on dealer lots, online marketplaces, and remarketing channels. “Until recently, robust … Read More »