The recent acquisition of Ally Credit Canada by Royal Bank of Canada triggered a question during a quarterly conference call Wednesday: Why didn’t General Motors Financial make a run at the financing arm since it already has lending and leasing activity in the country? GM Financial president and chief executive officer Dan Berce addressed the […] [Read More]

Used cars have gotten more expensive. At least, that is one fact consumers and dealers have come to expect during the past few years. But, after three years of “dramatic growth”, the price hike slowed a bit this year, according to NADA Used Car Guide. In fact, the projected average price of used cars and […] [Read More]

The National Remarketing Conference, sponsored by SmartAuction, as the industry’s leading conference, is an excellent place to stay up-to-date on information relevant to all aspects of the industry, including fleet, lease and rental. In a 2:45 p.m. session on Nov. 15, the market dynamics of this industry niche will take center stage at the National […] [Read More]

Though the trade-in numbers for vehicles three years old and younger has been “very low,” Jack Ballinghoff has found that fellow Toyota dealers shouldn’t have any problem finding off-lease vehicles. The general manager of Koons Tysons Toyota said that while he’s not pursuing the three-year-old and younger vehicles right now, Toyota dealers who are can […] [Read More]

CU Direct Connect announced Wednesday that it has signed an agreement with AutoNation that names CU Direct Connect as a preferred lender for all of the dealer group’s stores in Colorado. The agreement is effective as of today. Officials said that CU Direct Connect, through its 34 member credit unions, is collectively the largest auto […] [Read More]

A new TransUnion study found that people who monitor their own credit files open significantly more new auto loans and credit cards, and perform generally as well on those loans as consumers who do not monitor their own credit. The company's study determined that consumers who monitor their credit in any given credit score range […] [Read More]

“Dale, what can I do to take my used-vehicle operations to the next level in 2013?” This question comes my way more frequently, and much earlier in the year, than it did in the past. To me, this is a good thing: more dealers are thinking hard and planning ahead to do a better job […] [Read More]

Consolidated Asset Recovery Systems recently hired a new vice president of sales. Joining the provider of repossession and remarketing services is Jeff Swisher. CARS is looking for Swisher to help the company further scale the sales organization and continue to build brand recognition. “We are excited to bring Jeff and the wealth of knowledge and […] [Read More]

A new Arizona-based vendor screening company on Monday launched what it's calling the first online compliance management system for the auto lending industry. Vendor Transparency Solutions explained that it developed an industry-specific, comprehensive, supplier screening solution designed to assist the lending community to reach the highest level of compliance. The tool is also geared to […] [Read More]

Are gas prices finally on the way down? According to the latest “Beggs on the Used Car Market” report, gas prices at the pump made the biggest week-over-week change since July, and wholesale price changes may be directly impacted. Ricky Beggs, managing editor of Black Book, said gas prices fell by $0.13 this past week […] [Read More]