Hertz Global Holdings Inc. revealed it has chosen a new director. The board of directors of Hertz and The Hertz Corp. announced Thursday Philippe Laffont has been elected as director. Laffont is the founder and chief investment officer of Coatue Management, an investment management firm founded in 1999.  Prior to founding Coatue, Laffont worked at […] [Read More]

Black Book revealed its newest product on Wednesday — a valuation tool the company says allows lenders to analyze vehicle values in real time. Collateral Insight Engine compiles historical, current, and projected vehicle values, and can also analyze collateral performance and create custom views that meet specific lender portfolio needs, the company said. The new […] [Read More]

Outstanding auto loan balances have reached a record high, Experian Automotive announced on Wednesday, their highest since the company began publicly reporting the data seven years ago. According to Experian’s latest State of the Automotive Finance Market report, outstanding balances on automotive loans reached $782.9 billion, up $103 billion from Q3 2012. In other positive […] [Read More]

Jeff Haynes, vice president and national remarketing manager at BBVA Compass, described what intrigues him about the repossession, recovery and remarketing industries. Haynes pointed to the rate at which technology continues to allow companies to become smarter and more efficient. Technology doesn't just interest Haynes; it’s what separated him from a group of qualified candidates […] [Read More]

As the SubPrime Forum winds down and the Re3 Conference ramps up today, a similar subject will fill the presentations of both Used Car Week events — the Consumer Financial Protection Bureau. Discussions about the CFPB will begin in earnest when a presentation featuring Jack Tracey, the executive director of the NAF Association and Alicia […] [Read More]

Last week, the Consumer Financial Protection Bureau said it took the first step toward considering consumer protection rules for the debt collection market. Through its Advance Notice of Proposed Rulemaking (ANPR), the bureau is collecting information on a wide array of issues, including: —The accuracy of information used by debt collectors —How to ensure consumers […] [Read More]

Mass marketing is dead, and targeting is everything. So says Dennis Galbraith, chief marketing officer for Potratz, in his latest video installment. In “Hard Facts: Marketing Your Inventory,” Galbraith references the uselessness of yesteryear’s mass marketing modes, and suggests better ways to reach today’s customers.     “It used to be we would bombard customers with mass […] [Read More]

Bill Jensen’s career began more than 40 years ago at Security Pacific Bank in Santa Ana, Calif., as a collector. After nearly two decades at that institution, followed by a stint as executive director for the National Vehicle Leasing Association, a post with Bank of America and a role managing Mazda American Credit, Jensen is […] [Read More]

Congratulations, California, home of the top three cities having high MPG, eco-friendly used cars. On the flip side, Detroit is, well, guzzling gas.   These are just a couple of results as analysts at iSeeCars have released their comparison of the 20 largest U.S. cities by percentage of cars with the best and worst miles […] [Read More]

With certified pre-owned sales numbers soaring to never-before-seen levels, it seems dealers and OEMs are doing something right when it comes to advertising. Paul Stowe, director of retail operations at NCM Associates, let us in on some of the key advertising tools for a dealer who has embraced the potential of CPO vehicles. Stowe said […] [Read More]