October 2012

Hurricane Sandy to Make Used Inventory Even Tighter; Dealers Should Expect Price Hike

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As of press time, Hurricane Sandy was headed West, leaving much of the Northeastern states scrambling to recover power and get flooding under control while assessing the damage of the powerful storm.

With vehicle damage already reported, Black Book’s Ricky Beggs offered Auto Remarketing some insight into how the storm may affect the used-car market in the coming months.

The Black Book managing editor stressed that used-car inventory may become even tighter for dealers in an already difficult environment.

TransUnion Study: Consumers Who Actively Monitor Their Own Credit Open Far More New Auto Loans

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A new TransUnion study found that people who monitor their own credit files open significantly more new auto loans and credit cards, and perform generally as well on those loans as consumers who do not monitor their own credit.

The company's study determined that consumers who monitor their credit in any given credit score range not only open far more new accounts than those who do not, but it may indicate that these consumers recognized the importance of a healthy credit profile, and are actively looking for ways to improve it prior to making new purchases.

Westlake Spotlights Top Regional Auctions for Quarter

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Westlake Financial Services honored four auctions on Tuesday, announcing the third quarter’s top regional performers and the company’s Top Service Auction.  Earning recognition from Westlake were:

•    Eastern Region: Rawl’s Auto Auction (South Carolina)

•    Central Region: Kansas City Independent (Missouri)

•    Western Region: Brasher’s Sacramento (California)

Auto Data Direct Expands Program to Include Calif. Motor Vehicle Records

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Auto Data Direct announced Tuesday it has added California motor vehicle records to its DMV123 program.

With this addition, the company now has access to 28 state databases.

"Since 1999, our core business has been to provide real-time motor vehicle inquiry solutions to DPPA qualified companies," said Jim Taylor, president of ADD.

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