RateGenius Inc. added 100 new lenders to its auto refinance program, which is the core business of the 14-year-old company. Last year, RateGenius facilitated more than $250 million in loan originations. But the stouter revenue is also the result of the company licensing new loan origination software called FinanceGenius.

The software was initially developed by RateGenius for its internal use. But its lenders — community banks and credit unions — began asking for a similar tool that could process huge numbers of applications. The automation is designed to enable lenders to process more applications with fewer workers to make it profitable, CEO Chris Brown said.

Thousands of credit unions and community banks are processing such applications without the assistance of such automation. The cost of the software varies on the size of the lender. In addition to an annual subscription, lenders pay a fee per application that’s processed, Brown said. The company does not disclose annual revenue.

RateGenius began selling software subscriptions to its clients last year. Nine of them are now beta testing FinanceGenius and providing the feedback needed to work out any kinks, Brown said.

“When we roll this thing out we think it’s going to dominate,” he said. “All consumer lending can be managed by licensing our software. I never thought I’d be CEO of a software company.”

RateGenius, founded in 1999, employs 81 workers. It teams with credit unions and banks, as well as national lending institutions, to help consumers refinance new car loans. In 2001, the company completed a $3 million funding round from board members and angel investors. Former Texas Banking Commissioner Cathy Ghiglieri was the company’s founding CEO. Brown took the company’s helm in 2003.

The in-house software development strategy taken by RateGenius mirrors another Austin-based company.

Last month, the Austin Business Journal reported that SiteGoals LLC spent $100,000 developing software that it plans to sell through a separate company called Evenflow LLC. The software is designed to enable businesses to more efficiently generate quotes and proposals for prospective clients.

Loan origination software is common. But only 50 percent of the nation’s credit unions are using third-party loan origination software, said Pierre Cardenas, a senior consultant for Euless-based CU Lending Advice LLC.

Large banks typically use installed software that can cost $80,000 to $180,000. Smaller institutions usually employ Web-based software that costs $20,000 to $40,000 to deploy, plus $8 to $12 for each application that’s processed, he said.

RateGenius’s history in vehicle refinancing has given the company the experience needed for developing remote applications. California-based MeridianLink Inc. is one of its chief competitors, Cardenas said.

Brown said 2011 was a pivotal year for RateGenius, citing growth in all three segments of the business: the refinance business; an insurance business, and the software. He expects the revenue generated by FinanceGenius to eventually eclipse its refinancing revenue.

Montana-based Sky Federal Credit Union began using the RateGenius software in June 2011, when it employed seven loan officers who could take up to three days processing applications. Today, it employs two loan officers who process about 200 loans a month — usually in less than 24 hours per application, said Sky Federal Vice President Ben Kuss.

“We’re doing more with less employees,” he said

AAA conducted the in-car study called "Distracted Driving Among Newly Licensed Teen Drivers," finding that electronic devices were the most commonly observed distraction. The study was the first of its kind to use in-car video footage to focus on teen distracted driving. Researchers from the UNC Highway Safety Research Center pinpointed the the potentially serious consequences of distracted driving among teenagers using g-force maneuvers, including swerving, hard braking and rapid acceleration.

"Cellphones, texting, personal grooming, and reaching for things in the car were among the most common distracting activities found when cameras were put in new teen drivers' cars," said Peter Kissinger, president and CEO of the AAA Foundation. "This new study provides the best view we've had about how and when teens engage in distracted driving behaviors believed to contribute to making car crashes the leading cause of death for teenagers."

The study showed that the leading cause of distraction for all teenage drivers was the use of electronic devices. The teen drivers were using electronic devices in 7 percent of the video clips analyzed. Teenagers engaged in other potentially distracted behavior in 15 percent of the videos.

Gender played a significant role in the distractions observed, and females were about twice as likely as males to use electronic devices while driving and 10 percent more likely to be involved in distracted driving behaviors overall.

"The gender differences with regard to distraction observed in this study raise some points that we'll want to investigate in future projects," Kissinger said. "Every insight we gain into driver behavior has the potential to lead us to new risk management strategies."

Passengers were also discovered to be a distracting factor, influencing a driver's behaviors significantly, and distracted driving activities were also found to decrease drastically when a teenager's parent was in the vehicle.

Consumerist.com recommended the Hyundai Elantra SE, Mazda 3 and Subaru Impreza as a few of the vehicles that are best for teen drivers, which might send parents to dealerships to purchase the cars for their kids. To afford a car for a child who is a newly minted driver, parents might consider an auto loan refinance to lower payments on a vehicle they already own.

Offering extended warranties on these models was a wise move from second-hand dealers, the Warranty Group stated.

According to Ian Simpson, the sales and marketing director for the company, the buying power of second-hand car buyers has decreased somewhat over the past few years, as stock levels have fallen and prices have increased. Therefore, extras like extended warranties have become more important in winning sales.

"Customers have now been looking for a higher and higher level of protection against unexpected costs for some years," said Simpson. "It is a trend that shows no signs of abating and, alongside a general new car market move towards longer warranties, means that customers now desire a very comprehensive level of used car warranty cover."

According to TrueCar.com, used car sales are estimated to increase 9.5 percent on a year-over-year basis and 28.7 on a month-to-month basis in March 2012.

According to Yahoo! Autos, the new cord and plug will be more heat-resistant, following reports of issues from owners of the vehicle. Complaints filed by Volt owners reported that the charging cords overheated and melted in a few cases, which raised questions about the cord's durability.

Randal Fox, a GM spokesperson, recently reported that he doesn't know exactly how many models are impacted by the faulty cords, but all model-year 2011 Volts and some 2012 Volts will get a new cord to ensure the safety of the vehicles.

“GM spokesman Randal Fox says the move, which GM does not consider a recall or a safety issue, was meant to ‘offer a more consistent charging experience,’” according to Yahoo! Autos.

The announcement of the cord replacement comes after the National Highway Traffic Safety Administration began an investigation into the Volt's battery, which caught on fire several weeks after the agency performed crash tests.

Volt owners are able to save gas money by relying on electricity to power their vehicles. Those who own a traditional gas-powered car and are looking to save some money might pursue car refinancing, which can lower monthly loan payments.

The hatchback version of the Kia vehicle didn't have as much luck, scoring lower than the EX, but it still came in a respectable third place behind the Honda Fit and Nissan Versa SL among subcompact hatchbacks tested with automatic transmissions.

According to Consumer Reports, the new Chevrolet Sonic was discovered to be a refined model that gives drivers a more quiet cabin, agile handling and superior braking. Despite its high ratings in some categories, the testers reported that the Sonic was mediocre in the fuel efficiency category, and some balked at its price point of about $20,000, which testers ruled was too expensive. Some also felt the car was not as sporty as Chevy wanted it to be.

"Subcompact cars were once collectively known as 'penalty boxes' for their noisiness, rudimentary interiors, uncomfortable rides, and weak performance," said David Champion, senior director of Consumer Reports Auto Test Center in East Haddam, Connecticut. "But now improved redesigns, combined with affordable prices and impressive fuel economy, make a number of subcompact models good all-around choices for people looking to stretch their budget."

The Hyundai Accent GLS sedan and the Accent SE hatchback were less impressive to the testers, but the vehicles did meet expectations for basic and sensible transportation and were named a good value. The fuel economy of the vehicles approaches the best in class. Current car owners whose vehicles do not get good gas mileage might consider auto refinancing to save some cash that can be applied at the pump, as gas prices continue to rise.

The Nissan Versa sedan and the Toyota Yaris hatchback were unimpressive to testers, rounding out the bottom of the list in most categories. The Sonic LTZ hatchback, Versa and Toyota Yaris all scored too low for Consumer Reports to recommend them to potential car buyers. According to testers, the Toyota Yaris is noisy, the ride is "choppy" and the interior is "austere."

All of the models that were tested were redesigned for the 2012 model year, making competition stiff in the subcompact class.

The Kia Rio also recently won the 2012 Business Car Manager Environmental Award for its EcoDynamics version.

AAA, North America's largest motoring and leisure travel organization, has more than 53 million members taking advantage of travel, insurance, financial and automotive-related services. With the organization representing such a large percentage of Americans, Obama addressed the concerns of the average motorist with representatives of the company.

"I understand what folks are going through because it wasn't that long ago that I was having to fill up my gas tank and drive to work, shuttle the kids back and forth to school or events," the president said. "It takes a big bite out of folks' paychecks." 

The president was asked to comment on American's frustration with prices at the pump this year, and he focused on purchasing electric vehicles and hybrids as a way to combat the high prices of fuel. He pointed out that evolving technology is making these cars more accessible and attractive to drivers in the United States.

"People need to feel confident that when they get into an electric car they're not going to get stuck," he said. "To the extent that we start having both more efficient batteries and distribution capacity, people can feel confident that they're never going to get stuck, or at least not any more stuck than they do when they forget to fill up and then call AAA."

AAA recently added electrical vehicle charging stations to TripTik digital maps, which should make road trips easier for motorists who are worried about running out of battery power during a vacation.

Obama added that the country has gone through cyclical gas prices for decades and highlighted that America needs to have more control over its energy security.

When asked about the global forces and political tensions overseas that drive the energy markets, the president gave points from a previous speech that focused on the future of America instead of the current international situation. In that speech, delivered on March 22 in Cushing, Oklahoma, he said the United States needs to pursue an "all-of-the-above strategy" that includes domestic drilling and more renewable energy production.

Obama also pinpointed the importance of the United States maintaining growth and productivity while continuing to reduce dependence on foreign oil.

Those who can't afford to invest in a hybrid or electric vehicle but are looking to save some cash to offset rising gas prices might take advantage of attractive rates for auto refinancing.

So how are our customers dealing with this new hike? Are you driving less? According to the article, with daylight savings time, the demand for gas should increase, driving (no pun intended) gas prices back down if the oil prices go up. We will see.

If you are thinking about selling your car in light of this upward trend, be sure to take everything into account. I am a big fan of driving less and using less gas, but having a car is so important in most parts of the country. Getting places in emergencies, going on vacation, and more can get harder without a vehicle.

Having said that, I enjoyed biking and sometimes walk to work now. Will any of you move closer to work? Take up biking, busing, or walking? Let us know what you plan to do or if you are just waiting it out.

The facility is building versions of the RDX for both domestic and export sales, and expects the vehicle to be available in Acura dealerships in April at a starting price of $34,320. For the RDX, Acura phased out a 2.3-liter turbo four-cylinder engine in favor of a 3.5-liter V6, which gives 273 horsepower and 28 miles per gallon on the highway. The good mileage could be of utmost important to Americans now facing a substantial increase in gas prices.

"Acura is a brand for luxury customers who aspire to the highest levels of quality and value, and the East Liberty team is going to play a very important role for us as we move forward with production of this exceptional new Acura RDX," said John Mendel, executive vice president of sales at American Honda Motor Company.

Acura dealers, public officials and community leaders were at the plant to commemorate the first mass-produced 2013 Acura RDX rolling off the assembly line.

"We are proud to be the exclusive global manufacturer of the luxury Acura RDX," said John Mayberry, East Liberty Auto Plant manager. "Our associates work hard to exceed the expectations of every customer, and as a team we are committed to producing the best products in the world."

The plant is located northwest of Columbus in Logan County and was the recipient of a Silver Award from J.D. Power and Associates in 2011 for its outstanding quality. Ohio plants in Anna and Russells Point will also produce the engines and automatic transmissions for the RDX and the Honda CR-V.

The East Liberty Auto Plant began production of vehicles in 1989 and has 2,500 associates. The plant underwent a $166 million expansion recently and construction is underway on a 155,000-square-foot expansion for new door and instrument panel sub-assembly lines.

The new projects are expected to cost more than $500 million in new capital investments.

The automaker is hoping that sales of the RDX and ILX models will drive total sales up 45 percent during 2012. The Honda CR-V is already an industry leader, coming in at No. 1 for February sales among compact crossovers/SUVs, according to MotorTrend.

Car buyers are going to purchase vehicles in record numbers as winter turns to spring, and fuel efficient cars in particular are increasingly appealing, according to KBB. As of now, fuel prices are above $3.80 per gallon nationally and are as high as $4.40 per gallon in California. With gas prices expected to reach $5 per gallon during the spring and summer months, many people appreciate that fuel efficiency could lead to significant savings at the pump.

According to the source, a leading provider of new and used car information, March new vehicle sales are expected to reach 1.43 million, or 14.6 million on a seasonally adjusted sales rate, which is a 24 percent gain from February and a 14 percent gain from March 2011. It is also approaching the mark of 1.5 million units sold in March 2007.

March is historically a good month for car sales, in part because consumers buy vehicles after they receive their tax refunds.

"Although we anticipate strong sales in March, it will fall short of the 15.1 million SAAR posted last month," said Alec Gutierrez, senior market analyst of automotive insights for Kelley Blue Book. "Sales in February were aided by unseasonably warm weather across the United States and an additional selling day due to the leap year, triggering a strong seasonally adjusted sales rate that will not likely repeat this year. Conditions in the economy have generally been positive through the first few months of the year, and if conditions remain steady, the industry can expect to see continued strength in sales for the months ahead."

Gutierrez singled out subcompacts as positioned for especially strong sales. He said models such as the Ford Fiesta, Hyundai Accent and Chevrolet Sonic are "reshaping the segment," and the quality of subcompacts has generally improved during the last few years. The Honda Fit, Toyota Yaris and Nissan Versa have emerged as leaders in this segment.

In terms of hybrid subcompacts, the Toyota Prius C is expected to drive sales for the month after debuting on the U.S. market on March 12. The Japanese automaker sold 1,201 cars in its first three days on the market, and expects to see the strong Prius sales continue.

While those buying new cars might turn to hybrid subcompacts to save money on gas, those who already have a vehicle might consider car refinancing to save some green.  KBB's Gutierrez recently told SmartMoney that refinancing is becoming more appealing as interest rates continue to drop.

After establishing an equal partnership company, the two automotive forces joined together in a deal that will feature manufacturing of Jaguar Land Rover and joint venture-branded vehicles, establishment of a research and development facility, engine manufacturing and sale of vehicles produced by the joint venture company.

"Working together on this proposed joint venture is an exciting prospect for both JLR and Chery," said Ralf Speth, JLR chief executive officer and Yin Tongyao, chairman of Chery Automobile, in a joint statement. "Demand for Jaguar and Land Rover vehicles continues to increase significantly in China and we believe that JLR and Chery can jointly realize the potential of these iconic brands in the world's largest car market."

The two went on to say that the ambition of the joint venture is to leverage the strengths of the two businesses in research, development and technological innovation.

Jaguar recently celebrated 25 years of success in the United States at the 2012 New York Auto Show, giving consumers a chance to experience an urban off-road adventure where they will drive the 2012 model year vehicles.