On Wednesday, CRIF Lending Solutions announced a partnership to integrate Carvana’s online automotive retail platform with its ACTion and SAIL loan origination systems. CRIF said its new collaborative effort aims to help financial institutions effectively reach pre-approved customers or members for direct auto loans.  “Integrating our platforms with partners like CRIF Lending Solutions provides consumers […] [Read More]

As millennials continue to turn from the way previous generations have shopped in this digital age, their growing desire for luxury vehicles has surpassed older generations as well, according to the Harris Poll's 29th annual EquiTrend Study. The report on consumer’s preferences reveals what Harris found to be the strongest brands across the automotive industry as […] [Read More]

Consumers' heightened interest in compact SUVs and midsize utility vehicles over sedans is driven by cargo and a high vantage point, rather than the recent drop in gas prices nationally, says Michelle Krebs, executive analyst for Autotrader. “KBB did a quick poll, not scientific necessarily,” she said during a conference call with the media on […] [Read More]

Wise F&I recently announced that it is expanding its vehicle service contract programs and has developed WiseMVP, a pre-owned motor vehicle service contract that provides coverage for vehicles that are up to 20 years old and that have up to 200,000 miles. The company said its new plan allows consumers who purchase an older vehicle […] [Read More]

Generally speaking, consumers and dealers often don’t seem to see eye-to-eye when it comes to trade-in appraisal, says Black Book senior vice president of sales Jared Kalfus. “The consumer feels that the appraisal being delivered by dealers is not necessarily as accurate as compared to the valuations that they’re doing themselves online,” Kalfus said in a […] [Read More]

Like many organizations, FICO indicated Toyota Financial Services was looking for ways to achieve better outcomes from its collections efforts. At the same time, FICO acknowledged it was critically important for the captive to demonstrate to its customers that the company values the relationship. They sought to help customers avoid repossession or credit impacts due […] [Read More]

An environment where leases account for 30 percent of new-vehicle sales (give or take) may be the new normal. While there is not likely to be another major increase, lease penetration isn’t likely to “drop off any time soon,” says Eric Lyman, ALG’s chief industry analyst. The firm spotted 32-percent lease penetration earlier this year, […] [Read More]

This year's Vincentric Best Fleet Value in America Awards have recognized Hyundai’s 2017 Elantra SE, 2017 Sonata Hybrid and 2017 Tucson models for their low cost of operation, the automaker announced on Thursday. Hyundai’s Elantra model took the top spot in the compact sedan category for the third time. Meanwhile, the Tucson won its second […] [Read More]

In its latest Quarterly Market Report, ALG showed a year-over-year comparison of March/April 36-month residual value forecasts. Of the 25 segments included in the report, only five had positive residual value changes from a year ago. And they were all mainstream utility segments (which, according to ALG, includes minivans). Asked why utilities have held onto […] [Read More]

Jumpstart Automotive Media discovered a 6-percent uptick in shopping for used cars across its portfolio of sites during the first quarter, which it attributes to a rise in shoppers looking for used luxury vehicles, in particular. Used luxury shopping is up 11 percent year-over-year, while down 3 percent for new, according to Jumpstart’s latest quarterly report, […] [Read More]