Selling cars consistently is a craft few can master. It takes someone with the right combination of character and confidence to close deals. However, many experienced dealers will admit the far greater challenge is buying the right cars for their inventory — cars customers want. That’s because the market for used cars can be unpredictable. With […] [Read More]

The National Insurance Crime Bureau revealed that while 2010 saw the number of national vehicle thefts decline for the seventh consecutive year, the top five “hot spots," all on the West Coast, showed an increase when compared to 2009. For example, the area with the highest vehicle theft rate — Fresno, Calif. — saw a rise of 1,684 thefts when compared […] [Read More]

With Tuesday marking the first official day of summer, AAA highlighted a total of 18 different models in six vehicle segments the organization believes are the best units for road trips. AAA picked four vehicles made by Toyota, along with a pair of units from Chevrolet, Ford, Chrysler and Dodge. The organization noted that nine […] [Read More]

In a market where wholesale auction volume is even tighter than overall used supply, independent dealers face an especially “tough situation” when it comes to acquiring the vehicles they need on their lots, suggested Jonathan Banks, a senior analyst with NADA Used Car Guide. [Read More]

The Federal Reserve confirmed Monday that automotive dealers are temporarily exempt from collecting and reporting information to the government on credit applications from women or minority-owned businesses and small businesses. This requirement falls under Regulation B (Equal Credit Opportunity) and was added as a section under the Dodd-Frank Act. [Read More]

Ford vehicle performance earned more praise as RDA Group gave the automaker its Quality Award — a discretionary honor to recognize substantial improvements in quality and customer satisfaction over time. RDA Group declared during a brief ceremony recently that Ford has “achieved unparalleled success in quality and customer satisfaction improvement.” In assessing Global Quality Research […] [Read More]

With my travels all throughout this nation, I have a unique opportunity to work with and train people from every walk of life — from the auto finance industry to the bail bondsman to the recovery agent. No matter their line of work, the most common questions I am asked are: “When should we start working […] [Read More]

With communications technology evolving rapidly and federal regulations still in flux, ACA International, the Association of Credit and Collection Professionals, created a series of recommendations on how debt collection can be handled efficiently and fairly. ACA International recently rolled out what it titled, “The Path Forward: ACA International’s Blueprint for Modernizing America’s Consumer Debt Collection […] [Read More]

In light of the supply dearth, several Japanese models are seeing significant gains in the number of consumers looking to buyout existing leases on the vehicles, according to LeaseTrader.com. The shoppers see this as an alternative method of car buying, the site indicated. What’s more, with high used values on these units, some customers will […] [Read More]

Carfinco Income Fund saw its pre-tax earnings hit an all-time high for the eighth consecutive time during the first quarter, as the company enjoyed closed to a 70-percent gain from the year-ago period. Specifically, Carfinco pulled in pre-tax earnings of $5.5 million, a 69.2-percent year-over-year increase. This pushed Carfinco’s record streak to two full years, […] [Read More]