The latest enforcement action handed out by the Consumer Financial Protection Bureau was again focused on debt collection. This time, the action involved Navy Federal Credit Union. The bureau specified four activities deemed to be improper debt collection actions that triggered a $28.5 million penalty. The CFPB charged Navy Federal Credit Union with these infractions: […] [Read More]

The gut response to market change is belt tightening. That’s often a prudent and wise action to take, but if you do, make certain cost-cutting isn’t cutting off oxygen to your business. What do I mean? When trends and data seem to indicate the industry tide is turning — when pundits predict slower times ahead — […] [Read More]

TrueCar has launched a series of half-day, educational Dealer Summits designed to provide insights and best practices on sales processes, digital marketing, conversion rates and profitability. The first of these was Tuesday in Atlanta, with additional 2016 summits planned for Philadelphia and California — plus more to come in 2017.  Auto Remarketing caught up with vice president of dealer marketing […] [Read More]

Levy Grunwald didn’t know what to expect when he tried Honcker, a new app that lets people lease vehicles online. What he knew was that his last lease had expired, and between work and life, he just didn’t have time to visit a dealership. Still, could he trust the newly launched Honcker? “I develop apps […] [Read More]

More and more people are looking for their next vehicle online. That’s changed the nature of brick-and-mortar shopping, with many buyers starting the process digitally and finishing it at the dealership. But a recent survey from Accenture revealed that shoppers are feeling a disconnect between their web and showroom experiences. Consumers in the U.S., China and […] [Read More]

Consolidated Asset Recovery Systems (CARS) — again the sponsor of this year’s Re3 Executive of the Year Award to be handed out at Used Car Week — is hosting a free one-hour webinar to dive deeper into the topic of legal options when repossession fails. In conjunction with Pamela Dotson, corporate counsel for LCS Financial […] [Read More]

In their most recent Perspective report, NADA Used Car Guide analysts detailed the value performance of used 2013 model-year passenger cars and light-duty trucks. Turns out, the top-performing vehicle isn’t even manufactured by that automaker any longer, but the unit still rose to the top of NADA Used Car Guide’s rankings for the second year […] [Read More]

The psyche of each generation can be impacted by technological innovations or limitations, geo-political events and the social and cultural climate of the day. The post-World War II growth impacted the baby boomer generation, just as the digital revolution impacts millennials. “We are somewhat a product of our society,” DealerSocket sales director Todd White said […] [Read More]

A recent study found that a bigger car could be the key to a better family driving experience. CarGurus’ Family Driving Survey found that parents who drive multiple children around in sedans are less satisfied with their vehicles than those driving minivans and SUVs. Twenty-one percent of sedan owners said their car does not meet […] [Read More]

With so many resources available, it’s easier than ever to find deals on used wheels. But are there regional degrees of car-buying savvy? Vroom examined the last three years’ worth of sales data from its site — tens of thousands of transactions — and came up with a list of the 10 states whose residents consistently find […] [Read More]