Swapalease.com reports lease credit approvals during the month of February were at 66.6 percent, down from the 70.5 percent level in January and 73.3 percent level in December of 2013. Officials indicated February’s rate was the lowest since September of last year when the marketplace saw just 62.9 percent approvals from credit applicants. So far […] [Read More]

With the sixth annual North American Repossessors Summit (NARS) set to begin on Thursday, industry leaders reiterated their commitments as they formed the Council of Repossession Professionals. This group consists of two members from each of the following trade groups: — Allied Finance Adjusters (AFA) — American Lenders Service Co. (ALSCO) — American Recovery Association […] [Read More]

Experian Automotive found that fourth quarter repossession rates at what analysts categorize as finance companies — operations that do not hold commercial deposits but make vehicle loans — rose to their highest point since 2010. Fourth quarter repo rates for finance companies — which often cater to subprime buyers — jumped 76.3 percent year-over-year to […] [Read More]

It’s tax time, and for many, that also means it’s car shopping time. According to an online study conducted on behalf of CarMax, 17 percent of people expecting a tax refund are likely to put that money toward buying a car. And the likelihood of someone expecting a refund using that money for car buying […] [Read More]

While domestic models made up the majority of the Top 10 most-researched used vehicles at NADAguides.com last month, many of the brands boasting the greatest increases in consumer search activity were imports. According to the latest issue of Guidelines from NADA Used Car Guide, the Top 10 most-researched used models in February included: 1. Ford […] [Read More]

Whether it’s the film industry or the auto industry, the shift in lead roles is hard to miss. The 2014 Oscars that took place a couple of weeks ago was truly a revelation of the changing gender role trends in films.  More than one film nomination had strong female leads, enjoying almost all the air […] [Read More]

A Chrysler manufacturing plant slated for closure has reversed course, and is now set to build an all-new model and welcome hundreds of new workers. On Friday, Chrysler Group chairman and chief executive officer Sergio Marchionne announced the addition of 800 jobs at the Sterling Heights Assembly Plant in Michigan, to support production of the […] [Read More]

With trees starting to bud in some places and college basketball fans ready to fill out NCAA Tournament brackets, analysts from NADA Used Car Guide are seeing positive signs of spring for dealers, too. Executive automotive analyst Jonathan Banks articulated several specific points in his market overview video for March. “NADA expects the uptick in […] [Read More]

There was a 3-percent month-over-month increase in AuctionNet sales volume in February for cars up to 8 years in age, according to NADA Used Car Guide, which noticed particularly strong increases in transactions of cars from the 2014 and 2012 model-year classes last month. The latest Guidelines report indicates there were close to 1,600 AuctionNet […] [Read More]

There will likely be just a shade under 3 million lease terminations in 2014, according to Edmunds.com, whose data indicates this would be a four-year high. Or, put a different way, “Car shoppers coming off lease will account for some additional 300,000 in new car sales over 2013, or about 40 percent of the expected […] [Read More]