Ally now offers GAP, service contracts via TRED

Joe Overby, Senior Editor

In addition to the used-car financing options it has been offering on TRED since April, Ally is now providing GAP insurance and vehicle service contracts to buyers on the peer-to-peer online car marketplace. The partnership between the two companies was first announced in May. At that time, Ally was already accepting... Read More

Auto Remarketing Staff

Dealers could benefit from a new program to help them turn their new models from Jeep, Hyundai, Ram, Dodge, Fiat and Chrysler. LegalShield, a consumer membership company that allows subscribers to connect with law firms for personal legal advice or assistance, formed a partnership on Monday with BonusDrive, a firm that... Read More

Auto Approve appoints Kroshus as president & CEO

Auto Remarketing Staff

Bringing nearly 30 years of experience with him, Jerry Kroshus has been named president and chief executive officer of Auto Approve, a refinance company that specializes in helping consumers find the best possible vehicle interest rates through its national network of credit unions, banks and finance companies. Kroshus... Read More

Nick Zulovich, Staff Writer

During his first quarterly conference call as chief economist at Cox Automotive, Jonathan Smoke chuckled for a moment when an investment analyst from Goldman Sachs asked about the rate consumers are keeping the vehicles they had just spent anywhere from 24 to 36 months leasing. “Thanks for asking the most... Read More

Wide variance between actions by FTC & CFPB

Nick Zulovich, Staff Writer

Although perhaps not as active as President Trump is on Twitter, two of the main federal regulators that oversee vehicle deliveries and auto financing have been far from quiet so far in 2017. But how the Federal Trade Commission and the Consumer Financial Protection Bureau went about its regulatory business during the... Read More

Auto Remarketing Staff

LeasePlan USA has brought Michael Croft on to its to business development team, where he will work with companies in the Southwestern region. Croft most recently served as vice president of sales for Element Fleet. He joins LeasePlan while it is expanding its business development team in preparation for smart... Read More

Lease-transfer approvals rebound in June

Auto Remarketing Staff

Swapalease.com reported that applicants through its website registered a 68.8 percent approval rate during June, a significant rebound from May when only 48.1 percent were approved. Officials explained the company saw less of an influx of shoppers applying for higher-end luxury leases, which often drives up non-approval... Read More

Joe Overby, Senior Editor

Lease penetration is down for the first time since 2012, and the decline in leases written is twice as high as the drop in overall new-car sales, according to latest Lease Market Report from Edmunds. That said, leasing remains close to record highs, and the swell of off-lease volumes hitting the used-car market should... Read More