| Dealer Loses License for Selling Junked Cars |
Apr 16th, 2013 |
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 The Illinois Secretary of State revoked the dealership license of Harjak Motors Inc. in Bloomington for illegally selling 13 unsafe vehicles that originated from Florida with certificates of destruction.
A certificate of destruction in Florida is the equivalent of Illinois’ junking certificate, which means the vehicle is only suitable for parts or recycling.
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| Credit Acceptance Founder Sells Shares |
Apr 16th, 2013 |
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 Credit Acceptance Corp. announced the pricing of the previously announced underwritten public offering by certain trusts affiliated with the founder and company chairman Donald A. Foss and Karol A. Foss and certain individuals and entities associated with Prescott General Partners LLC of 1.5 million shares of the Credit Acceptance common stock at a price to the public of $105 per share.
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| Fuel Efficiency Increases |
Apr 16th, 2013 |
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 TrueCar said fuel economy numbers from March light vehicle auto sales indicate TrueMPG increased to 23.7 MPG, the third consecutive month fuel economy records have been achieved by the industry.
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| Title Complaints Bring Lawsuit |
Apr 16th, 2013 |
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 Ohio Attorney General Mike DeWine filed a lawsuit against Dad’s Car Lot Inc. and its owners, William D. Taylor Sr. and Gary Jones, claiming multiple violations of Ohio’s consumer laws.
In their complaints, consumers cited problems with certificates of title, repossessions, misrepresentations, and repairs and services. To resolve title complaints, the office provided more than $9,000 in consumer restitution through the Title Defect Recision Fund.
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| Auto, Student Loans Lift Borrowing to Record Levels in February |
Apr 16th, 2013 |
The sectors realize a massive $18.3 billion gain in December alone, according to the U.S. Federal Reserve.
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| Watch for Debris |
Apr 16th, 2013 |
All signs pointed to a great fourth quarter, but there was some cause for concern — just not enough to keep cars from rolling over the curb.
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| To Catch a Customer |
Apr 16th, 2013 |
Optimists at the NADA and the AFSA conferences believe the industry is primed to sell a million more vehicles this year than in 2012. But as one dealer rep said, it’s going to take a unified effort to make that prediction a reality.
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| Where’s the Transparency? |
Apr 16th, 2013 |
The editor doesn’t like to be ignored, and he continues to lay into the CFPB for not heeding its own call for transparency.
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| Rehashing an Old Topic |
Apr 16th, 2013 |
His Madness opens up with a few thoughts on rehashing deals, then offers tips on how to get the right call the first time.
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| Battle Lines Drawn |
Apr 16th, 2013 |
‘Da Man’ has his game face on and issues a warning to all vendors requiring DMS connections. He also has a message to dealers: ‘Let’s go to war.’
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