Auto Dealer Monthly Magazine is the daily operations publication serving the retail automotive industry. This automotive publication serves dealer principals, officers and general managers with the latest best practices.
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ON THE C OV E R BI-WEEKLY PAYMENT EEK EEKLY PROVIDER Te fnal new category is Bi-Weekly Payment Provider, a growing ory segment populated by a mix of established and upstart compat nies. Smart Payment Plan won the category���s inaugural Diamond award, followed by EAC/Bi-Auto in the No. 2 spot. Tere was no Gold-award winner this year, but there are more than enough dynamic companies in the market to create more competition in this category next year. PRIME CAPTIVE FINANCE FINANC COMPANY Ally Auto won the Diamond award for Prime Captive Finance y Company, a category which stands alone among Dealers��� Choice or Awards categories for consistently featuring new entrants. In fact, inners none of this year���s winners appeared in the Top 3 in 2012. Last year was a rare miss for Toyota Financial Services, which won at least er one award every other year since 2008, including a Diamond trophy in 2011. dit Ford Motor Credit Co. earned Platinum honors afer dropping out of the Top 3 last year and winning Gold in 2011. BMW Financial Benz Services, Mercedes-Benz Financial Services and Volkswagen Credit failed to place afer winning Diamond, Platinum and Gold, respecontest. tively, in last year���s contest. PRIME NON-CAPTIVE AU NON CAPTIVE AUTO ANCE FINANCE COMPANY TD Auto Finance catapulted into the Dealers��� Choice Awards ranks with a Diamond award in the Prime Non-Captive Auto Finance Company category. Te company was formed two years ago, when TD Bank Group purchased Chrysler Financial, and quickly established itself as a key player in the auto fnance segment. Coming in second was BB&T;, which returned to the Top 3 afer a one-year absence, having won Platinum honors in 2011 and Diamond the year before that. Gold-award winner Wells Fargo also fnished out of the running in 2012 but was No.1 in the category in 2011. Last year���s Diamond, Platinum and Gold winners were SunTrust Bank, Bank of America and Chase Bank, respectively. National banks and fnance companies have kept local banks and credit unions out of the Top 3 every year since 2010. 32 AUTO DE ALE R MONTHLY ��� APRIL 2013 SUBPRIME FINANCE COMPANY For the third straight year, Capital One Auto Finance, Regional Acceptance and Wells Fargo fnished at the top of the Subprime Finance Company category. Tis year���s contest goes to Regional, whose Platinum win in 2011 was sandwiched by Diamond awards in 2010 and 2012. Wells Fargo earned Platinum this year afer winning Gold in 2012 and the top prize in 2011. Capital One Auto Finance, a stalwart in the category since 2006, fnished in third place this year afer winning Platinum in 2010 and 2012, and Gold in 2011.