Two of the companies participating at this year’s Re3 Conference — Consolidated Asset Recovery Systems and van Wagenen Financial Services — announced a strategic marketing agreement to create a one-stop solution for reducing risk and charge-offs on auto loan and lease portfolios.  Under the partner agreement, the companies explained they will cross-sell each other’s products, […] [Read More]

Remarketing of America announced this week its new partnership with WALZ. The communications compliance services offered by WALZ will help ROA provide compliant, critical default notices to its clients during the early- to late-state collections process to help comply with the various complex regulatory conditions throughout the United States. Emory White, the president and chief […] [Read More]

Since regulatory arms such as the Consumer Financial Protection Bureau turned their sites on the automotive business, NIADA — like many in the industry — has made compliance top of mind. Steve Jordan, executive vice president of the National Independent Automobile Dealers Association, explained that dealer education is one of the association’s big focuses these days. […] [Read More]

There was an 18-percent year-over-year rise in the amount of cash incentives used by automakers during the third quarter, according to LMC Automotive data cited in a sales analysis from the Ernst & Young Global Automotive & Transportation Center.  And surging cash incentives, says Ernst & Young’s Randy Miller, are having an impact on pre-owned, […] [Read More]

When dealership personnel say quickly and almost automatically that “we treat everyone the same,” what is really meant is that they greet prospects consistently and similarly with a sales process in person or digitally. However, having the capacity and ability to treat every walk-in customer the same simply can't be accomplished. It’s the perfect ideology, the […] [Read More]

If you see a CarMax commercial on TV, chances are, you’re not going to see the price of the car advertised. Here’s what you will see, though: the company emphasizing the positive experience a CarMax store delivers to consumers. That’s just one example that NADA Used Car Guide’s Stu Zalud and Jim Dodd shared with […] [Read More]

Data collector Vast announced early this week the availability of its new CarStory Market Reports, the company’s grouping of data models that analyze more than 100 million used-vehicle searches. The reports, available for free to dealers as well as consumers, provide individual vehicle information such as supply, demand and market features, as well as special […] [Read More]

About a month after conducting a field hearing focused on auto finance, the Consumer Financial Protection Bureau, along with its regulatory colleagues from the Federal Trade Commission, is turning its attention to the debt collection industry — in particular, the Latino community. CPFB and FTC officials will co-host a roundtable to examine how debt collection […] [Read More]

Along with co-host Jennifer Reid from Equifax, Used Car Week held its first-ever DealerChat via Twitter on Wednesday. Reid and her team from Equifax, along with other Twitter Chat participants from the remarketing space, fielded a variety of questions about top dealer trends, finance, Used Car Week and more. Here are five of the top […] [Read More]

With the Consumer Financial Protection Bureau shifting its focus more to automotive financing, one of the aspects of automotive deals that is under fire is dealer mark-ups, or bumps in interest rates. Dealer financing mark-ups have long been a accepted practice in the industry, but the CFPB contends this type of deal is ripe for discrimination. […] [Read More]