With potential impact from student loan debt swirling in the background, Swapalease.com reported lease credit approvals dipped slightly in November compared with October levels. The year-to-date approvals for customer credit finished November at 72.6 percent, compared with October levels of 72.8 percent. During the last three months, the lease credit approval rating has slipped to […] [Read More]

New ways of calculating dealer’s scores will intensify competition for the Dealer of the Year Award from DealerRater, the company has announced, beginning with the 2015 awards. In this annual program, DealerRater recognizes a select group of car dealerships in the U.S. and Canada for outstanding customer satisfaction as expressed through consumer reviews posted on […] [Read More]

More than 44 percent of the roughly 3.1 million leases ending next year will be in the ideal wheelhouse for certified pre-owned programs, according to CNW Research. And it’s expected millions more CPO-worthy off-lease units will follow in coming years, giving an already record-breaking certified sales market ample inventory. Getting into specifics, CNW believes that […] [Read More]

Used-car inventory levels approached 50 days’ supply last month, continuing an upward movement that has offset some of the rise in retail prices for dealers, according to CNW Research. Supply is expected to hit the 52-days mark in early 2014, but CNW contends this level “is within a comfortable level for solid profits.” Getting into […] [Read More]

I have a prediction: Over the next three years, the way dealers manage, merchandise and price their new-vehicle inventories will be dramatically different than how they’re handled today. In fact, I’d argue that the best practices we see today in used vehicles will serve as a guide for new-vehicle departments. This prediction comes from observing […] [Read More]

Repo Remarketing began to close out its calendar year by examining its certified remarketing results, looking to validate sales prices and the net return on investment for certified units versus non-certified units.  The company found that Repo Remarketing’s lenders realized 4.9 percent more money for the certified units over the test group. Management emphasized the […] [Read More]

As charge-off amounts ticked up across the board, Experian Automotive found that repossession rates moved higher during the third quarter, triggered by a dramatic spike for finance companies. According to its latest State of the Automotive Finance Market report, Experian indicated the overall Q3 repo rate came in at 0.62 percent, a level 54.4 percent […] [Read More]

For the fifth month in a row, there was a double-digit-percentage increase in the number of unique lookups for used Porsche models on NADAguides.com. Specifically, consumer activity for Porsche in November climbed 16 percent year-over-year, according to data included in the latest Guidelines report from NADA Used Car Guide. This was more than double the […] [Read More]

On Monday, NextGear Capital released what the company described as new mobile and online account management applications for customers designed to radically simplify management of their inventory finance accounts. NextGear Capital highlighted that the applications include new features and a dynamic new dashboard that is designed to be easy to navigate and provide rapid access […] [Read More]

In a move the company said will nearly double its capacity and make it the second-largest car hauler in North America, United Road Services — in partnership with its owner (Charlesbank Capital Partners) and investors — announced that it has acquired the auto transport division of Waggoners Trucking. The expanded United Road will now have […] [Read More]