OneMain Financial’s Auto Remarketing Unit
Completes Rebranding

Unit Renamed from CitiFinancial Remarketing Services to OneMain Remarketing

May 1, 2012 – OneMain Remarketing, the auto remarketing unit of OneMain Financial, announced today the re-branding of its service network from CitiFinancial Remarketing Services. The rebranding follows a similar step its parent company, OneMain Financial, completed last July when the company was rebranded from CitiFinancial to OneMain Financial.

This change allows the remarketing group to align itself closely with its parent company, while providing an opportunity to distinguish its business with an identity that better represents who it is and what it does. OneMain Remarketing, which has sold 500,000 vehicles since 2000, will continue to service the same client base and utilize the same auction network that it did under its previous name.

OneMain Remarketing’s Director, Karen Tanner-Smith, said, “We’re excited to serve our clients under the OneMain Remarketing name. While our name is changing, our people and their commitment to world-class service continues as before. Our staff will continue to work with our national auction network and vendors to provide efficient and thorough service to meet our clients’ needs.

In addition to the name change, OneMain Remarketing also debuts a fresh web presence and an updated and enhanced version of its industry-leading certification program. The CitiFinancial Auto Certified Gold and Silver products have been updated and are now offered as “OneMain 15” and “OneMain 8” products, which allow a 15 day and 8 day certification warranty, respectively.

Layne Weber, Vice President of OneMain Remarketing, said, “We’re particularly excited about our certification program. By transitioning our CitiFinancial certification products to the enhanced OneMain products, we’ve essentially made an innovative, best-in-class program even better.”

More information regarding the OneMain Remarketing group can be found on its website, www.onemainremarketing.com.

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About OneMain Financial:
OneMain Financial, based in Baltimore, MD, provides personalized loan solutions and one-on-one, local service at more than 1,300 branches nationwide. With a 100-year heritage of helping people realize their financial goals and dreams, their employees are part of the communities where they live and work. OneMain Financial works with each customer to find a solution that best fits their needs and budget, offering a straightforward loan application with fixed rates and clear terms. Additional information may be found at www.OneMainFinancial.com.

About Citi:
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

Media Contacts

Shannon Bell                 (212) 793-6206

Mark Rodgers               (212) 559-1719

IARA 2012 Summer Roundtable Preliminary Agenda
Chicago Hyatt McCormick Place, August 22/23

CLICK HERE TO REGISTER FOR IARA’S SUMMER ROUNDTABLE!

CLICK HERE FOR HOTEL REGISTRATION.
Also note that the room block expires July 30th.

WEDNESDAY AUGUST 22nd

9AM-11AM – Certification Testing

10AM-11AM – IARA Committee Meetings

11AM-Noon – Consignors Only Meeting for IARA Members

12PM-1PM – Canadian Committee Meeting

12PM -2:15PM – IARA Luncheon Board Meeting

2:30PM -3:15PM – Opening Remarks, Annual Report,
Presentation of Officers and Directors

3:15-4:15PM – IARA Industry Panel or Keynote Speaker

4:15PM-4:30PM – Break

4:30PM -5:15PM – Industry Panel

5:30PM-7PM – Welcome Reception and / or Dinner Evening Event

10:00PM – Bus Back to Hotel

THURSDAY AUGUST 23RD

7AM -8:30AM – Full Networking Breakfast

8:30AM -9:45AM – Roundtable #1-TBA

8:30AM -9:45AM – Roundtable #2-TBA

9:45AM-10:15AM – Break

10:15AM-11:30AM – Roundtable #1-TBA

10:15AM-11:30AM – Roundtable #2-TBA

12PM-2:00PM – Keynote Speaker & Special Recognition Award Luncheon

2:30PM- 3:30PM – Local Dealer Panel

3:30PM-4:15PM – Consignor’s State of the Industry Panel

4:15PM-4:30PM – Break

4:30-5:15 – Economic/Industry Forecast: 2012-201

5:30PM-6:30PM – Closing Reception

FRIDAY AUGUST 24th

8:30-1030 – Certification Testing

Greetings IARA members and best wishes for strong spring sales!

The IARA March 2012 Spring CAR Conference was one of the best yet according to the attendees. The presentations by Sandy Schwartz, CEO, Manheim, and Tim Martin, Vice President, LeasePlan USA, were especially pertinent. You can see them on the IARA website under the member’s library.

The Roundtables led first by Jim DesRochers, DAA Southwest, and the other by Don Fowler, DataScan along with Craig Carrow, Fiserv; Adam Diskey, JD Byrider; and Marc Haegelin, Manheim, were right on point with active attendee participation. Our sincere thanks and appreciation to all participants for their time and preparations.

The 2012 IARA Circle of Excellence Award was presented to Virgil Matczak. Dave Alfonso, KIA, made the introduction of Virgil and reviewed Virgil’s remarketing experience and his community contributions.

Virgil becomes the first remarketer to receive all three distinguished remarketing industry awards, including induction into the 1997 NAAA Hall of Fame, and into the 2003 NIADA Ring of Honor.

Congratulations to Virgil Matczak

A Remarketing Industry Pioneer

We Welcome These Recent New IARA Members:

166 Auto Auction • Dealer Services Corp • Diversified Vehicle Services
Fifth Third Bank • Harley Davidson Financial Services • Insurance Auto Auctions
Porsche, USA • Ready Auto Transport

Congratulations to Chris Wise, Charleston Auto Auction & Dave Sutton, CARFAX

Congratulations to Chris Wise, Charleston Auto Auction and Dave Sutton, CARFAX, for completing the first IARA Recertification Testing. Both have been IARA Certified Automotive Remarketers since 2009 and passed a 50 question exam to become recertified for another three years. IARA also recognized three new IARA CAR designees last month.

Congratulations to Stephanie Gingras, DAA Southwest,
Irina Toader, Manheim, & Robert Wagner, Hyundai Capital America

They successfully completed the twenty course examinations to become the 23rd, 24th, and 25th IARA Certified Automotive Remarketers. Well done!

The IARA is Pleased to Announce the Results of Their Recent VHR Survey Conducted by the IARA Standards Committee

The survey results are in and have been analyzed. The Committee was able to determine a great deal of helpful information from the 83 respondents and are especially pleased about the participation from representatives of companies across the industry.

Input From Companies Like:

ABC Auctions • ADESA • America’s Auto Auction • ARI • Bank of America • Brasher’s Auto Auction • Carolina Auto Auction • CitiFinancial • Credit Acceptance • Donlen • Ford • General Motors • GM Financial • Greater Erie Auto Auction • Lease Plan • Manheim • Mercedes-Benz Financial • NMAC Remarketing • US Bank

and many other notable companies make these responses that much more valuable. We appreciate the time and thoughtfulness that went into these responses.

The Survey Focused on Two Main Topics:

Improving the data correction process & standardizing the wording on the VHR’s
Listed below are the conclusions that were drawn from these responses.

« A reasonable time to correct an error is 24 hours »
Over 69% of the respondents believe it should be 24 hours or less.

« State and auction information should take precedence over a third party report »
Third party mileage information should be removed when proven incorrect.

« State errors are hard to correct and should be handled as a separate issue »

« According to 62% of the respondents, inconsistent odometer readings should »
use the wording “data discrepancy in mileage.”
If the error is verified, the record should be cleared.

« Damage/Frame disclosures should be listed as “Structural Damage.” »
More information should be available when questioned, i.e. dollar amounts, severity and location.

« Stolen/Recovered disclosures should only be disclosed if verified by a reliable source. »
If the error is verified, the record should be cleared.

« Accident reporting should include severity indicators and airbag deployment »
from a reliable source.

« Accident information based on a police report should be amended or deleted »
upon third party verification.

The Vendor Committee Chaired by Layne Weber, has been discussing the possibility of how to track the license plate turn in status of the six key states, plus the District of Columbia, in order to mitigate the tax issues created with missing plates.

The Vendor Committee has also been discussing the obstacle faced when the states place a hold on issuing future license plates due to not returning plates. Tracking the status of arbitrated vehicles is also being discussed.

An initiative has been underway since February to form an IARA Canadian Committee which will focus on Canadian remarketing issues. Thus far, thirteen Canadian companies have joined IARA to form this committee.

Congratulations to the Following Recent Canadian Members

ADESA Canada • Carproof • Canadian Black Book
Canada Dealer Services • DataScan Canada • Ford Canada
Foss National Leasing • GM Financial Services • Hyundai Canada
Manheim Canada • North Toronto Auto Auction • Rousseau Marketing • Wheels

We are pleased and excited to announce a new interactive blog feature for the IARA website. Please review the instructions and feel free to contact me with any questions. Click the link below for a PDF document for basic instructions on how to use IARA’s new forum!

Basic Forum Usage Instructions

There will be a Consignors Only Meeting at 11AM-12PM on Wed. August 22nd.
Certification Testing will start at 9am on Wednesday the 22nd.
The Board meeting will be at Noon on the 22nd.
Summer Roundtable meeting will commence at 2:30PM.

Thank you for all your continued support and contributions. The IARA is making a positive difference in the remarketing industry thanks to all the time and effort of our volunteer Board members and committee members. Join a committee and become involved!
Matthew Marks, Executive Director     &     Robert Wagner, President

International Automotive Remarketers Alliance

To view previous newsletters, visit the Newsletter Archives.

Publisher – Boucheville, Quebec, Canada
(514) 236-3141 – remyrousseau@rogers.com

IARA Standards Committee on Vehicle History Reports

The IARA is pleased to announce the results of their recent VHR survey conducted by the IARA Standards Committee. The survey results are in and have been analyzed.  The Committee was able to determine a great deal of helpful information from the 83 respondents.  The IARA Standards Committee is especially pleased about the participation from representatives of companies across the industry.  Input from companies like those who are members of the IARA, both consignors and auction companies, and many other notable companies make these responses that much more valuable.  The time and thoughtfulness that went into these responses is appreciated.

The IARA VHR survey focused on two main topics: improving the data correction process, and standardizing the wording on the VHR’s.  Listed below are the conclusions that were drawn from these responses:

Improving the data correction process

1) A reasonable time to correct an error is 24 hours.

• Over 69% of the respondents believe it should be 24 hours or less.

2) State and auction information should take precedence over a third party report.

• Third party mileage information should be removed when proven incorrect.

3) State errors are hard to correct and should be handled as a separate issue.

Standardizing the wording on vehicle history reports

4) Inconsistent odometer readings should use the wording “data discrepancy in mileage,” according to 62% of the respondents.

• If the error is verified, the record should be cleared.

5) Stolen/Recovered disclosures should only be disclosed if verified from a reliable source.

• If the error is verified, the record should be cleared.

6) Accident reporting should include severity indicators and airbag deployment from a reliable source.

7) Accident information based on a police report should be amended or deleted upon third party verification.

MT. ARLINGTON, NJ – Take a moment to talk to Jeff Bescher, senior vice president of commercial sales and operations at ADESA and treasurer for the International Automotive Remarketers Alliance (IARA), and you’ll learn relationships are what make him tick.

Perhaps this faith in personal connections comes from his history of sales and management roles and the strength they bring to conducting good business. Or, maybe it’s because his roles as a husband, father, and coach have led to a very happy home life. Likely, it’s both that put relationships at the core of Bescher’s professional and personal lives, and his position as treasurer on the IARA board.

Investing in Relationships

In his role at ADESA, Bescher manages a team of 12 executive sales directors and a commercial operations team that are located throughout the country.

“As part of the KAR Auction Services family of companies, our customers take advantage of an even greater selection of products and services — from salvage with Insurance Auto Auctions, Inc. (IAAI); floor planning with Automotive Finance Corp. (AFC); repos and titles with PAR; audits and condition reports with AutoVIN; paintless dent repair with Dent Demon — the list goes on and on,” Bescher said.

His team is responsible for meeting and exceeding the needs of the company’s institutional and commercial clients. At the same time, he makes sure ADESA’s goals align with its auctions and dealer customer needs. In other words, Bescher’s role requires him to understand the needs of his employees, customers, and company, and he must rely on those relationships to be successful in his position.

Prior to his promotion to senior vice president in February 2010, Bescher was vice president of sales for three years at ADESA, and director of sales for the company’s national accounts from 1995-2005. His other positions within the industry include management roles with EMKAY, GE Capital Auto Leasing, and Manheim Automotive Financial Services.

Treasuring Family & Community

Bescher’s personal life is all about relationships, too. He’s been married to his wife Shari for 26 years, and they have three children: Bryan, Meghan, and Kirsten. His lifelong passion for sports — especially those that foster teamwork — continues as he plays basketball, racquetball, tennis, and golf. He shares this passion with his community, particularly through his dedication to youth sports.

Over the years, Bescher has coached more than 45 basketball, soccer, softball, and baseball teams in both community and travel youth sports leagues.

“I’ve found coaching to be one of the most rewarding things I have ever done,” Bescher said. At one time, he was the President of the Carol Stream Youth Soccer Organization, and was one of eight citizens asked to serve on the inaugural Carol Stream Park District youth sports advisory board.   In fact, both Bescher and his wife have been nominated for “Citizen of the Year” for service to their local community. “It was nice to be recognized by our town,” he said.

Bescher enjoys staying active when not serving his family, his community, or his company.

“I have to do something to burn all those calories I take in during business meals with customers,” he joked. “But seriously, spending time with colleagues, friends and family is the most important part of my life. At the end of the day, it’s really all about those relationships.

Counting on the IARA

Bescher’s belief in the power of personal relationships is also evident in his participation in the IARA. He first joined in 2005 when he was working for EMKAY, and was then asked to continue his work with the IARA when he returned to ADESA in 2007.

“ADESA has been a supporter of the IARA since its inception,” he said. “We continue to value the opportunity to participate in a forum that discusses those issues that are important to a broad spectrum of remarketers.”

From both a personal and professional standpoint, the relationships created within the framework of the IARA are Bescher’s primary reason for supporting the organization.

“It is those relationships that allow you to discuss current issues with a wide variety of people who hold a range of viewpoints and represent very different businesses,” he said. “The IARA offers participants the opportunity to put forth ideas that could shape and improve the remarketing cycle for the entire industry. The establishment of minimum guidelines or standards for all consignors can make our industry more transparent and more efficient.”

Bescher said another benefit of the IARA is its conferences and the content they cover.

“The IARA meetings and the panel discussions are excellent,” he said. “The IARA is dedicated to educating its members, sharing ideas, and representing a cross section of businesses within the remarketing industry. I consider it an honor to support such an organization.”

Projections for the Industry

Bescher’s active participation in the IARA has lent him a solid perspective of the remarketing industry and its future, both over the short and long term. His view is realistic, but makes room for a healthy measure of optimism.

“We all know that demand remains high for used vehicles, especially late model vehicles,” he said. “And supplies are tight, so wholesale prices are also high. However, this is simply supply and demand: Low-vehicle volumes at auction, combined with a competitive bidding environment, are going to push up prices.”

Bescher argues that the lack of used vehicles is actually good news for new-vehicle sales. He noted that recent trends show that prices for both compact cars and crossover vehicles are both up. “It seems like consumers are looking for fuel efficiency and utility. Since gas prices will definitely be something to watch, consumers may see more value in hybrids as well,” he said.

Beyond the near future, Bescher remains hopeful for the remarketing industry.

“The supply of wholesale used vehicles is expected to continue to be low through 2012,” he said. “But indications are encouraging with recent increases in both new-vehicle sales and lease originations. I am optimistic that ADESA and our industry will rebound in 2013 and see the benefits long term.”

For Immediate Release-IARA-Mt. Arlington, NJ–

The IARA announced today that General Motors Financial of Canada has joined the IARA. “We are excited to have GM Financial Canada join our growing consignor group. The company’s industry-leading remarketing program brings a wealth of experience to our association,” said Matt Marks, Executive Director.

About GM Financial
General Motors Financial of Canada, Ltd. is a subsidiary of General Motors Financial Company, Inc. GM Financial provides auto finance solutions through auto dealers across the United States and Canada. GM Financial has approximately 3,500 employees, 700,000 customers and $11 billion in auto receivables and leased vehicles. The Company is a wholly-owned subsidiary of General Motors Company and is headquartered in Fort Worth, Texas. For more information, visit www.gmfinancial.com.

About the IARA
The IARA was created in 2001 in response to a realization by several vehicle remarketing organizations that this multi-billion dollar per year industry had no direct representative organization. The IARA conducts two semiannual Roundtable industry meetings, one of which is in conjunction with a national remarketing conference. Further information is available at www.iaraonline.org.

The primary purpose of the IARA is to provide a forum in which members are able to maximize remarketed vehicle portfolio values. Functions include:

• Facilitate standardization of processes within the industry.
• Provide a medium to facilitate joint initiatives among Alliance members.
• Develop performance measurements for the industry.
• Provide a forum for sharing ideas, knowledge, and best practices.
• Encourage and support member adherence to the IARA Code of Ethics.
• Share information on legislative and regulatory issues impacting the
  remarketing industry.
• Provide a lobbying body to address legislative issues.
• Provide a process of continuing education focused on the support of best
  practices in the remarketing industry.

AVP, Asset Remarketing – Toronto, Canada
(416) 753-4020 – john.paonessa@gmfinancial.com

Director, Commercial Accounts & E-Business, Canada – Georgetown, Ontario, Canada
(905) 691-2190 – don.wallace@manheim.com

Owner/Partner – Innisfil, Ontario, Canada
(705) 436-4111 – sralph@northtorontoauction.com