Financial

There’s nothing about paying bills that consumers like, so it follows that the easier and cheaper and most penny perfect they are to pay, the better, right? KISS! The U.S. Navy coined the phrase “KISS” — aka “Keep it Simple Stupid”— in 1960 to refer to jet mechanics, and it was eventually adapted across the […] [Read More]

Cox Automotive named a new chief financial officer on Friday. Appointed to the role is Scott LeTourneau, who was most recently senior vice president of corporate development for Cox Enterprises, which is Cox Automotive’s parent company. LeTourneau, who has been with Cox since 2012, will start the new role as executive vice president and CFO […] [Read More]

Cory Collins, who is a national F&I trainer with Automotive Reinsurance Concepts, talks with Cherokee Media Group associate editor Andrew Friedlander about the dealer F&I landscape, success strategies for dealers and his upcoming session at Used Car Week on “4 Steps To A Solid Menu Presentation.” Plus, Cory discusses his journey in automotive, his work […] [Read More]

Automotive data provider Vincentric last week released its most recent update to its fees and taxes data, which the company said offers the most up-to-date automotive ownership costs to the U.S. and Canadian markets. The data enhancement incorporates detailed state-by-state and province-by-province updates for the U.S. and Canada, including electric vehicle tax credits, and, Vincentric […] [Read More]

Carvana has ended August in a position to have a lot more breathing rooming financially. The online used-car retailer said Thursday it has completed its previously announced debt exchange with more than 96% of noteholders. This gives Carvana “significant financial flexibility as it continues to execute its profitability and growth plan” through cutting total debt […] [Read More]

Financial innovation platform Exponential Exchange has closed an oversubscribed $7.4 million seed funding round led by MaC Venture Capital to continue building a suite of financial instruments designed to bring new risk-management tools into the automotive ecosystem, as well as other industries with underserved asset classes. Industries such as agriculture, energy and manufacturing have long […] [Read More]

Ed Brojerdi and Craig Nehamen are co-founders and co-CEOs of Caramel, a digital checkout platform for independent dealers and private party buyers and sellers. They join the podcast from last month’s NIADA Convention, where they talked with Cherokee Media Group’s Joe Overby about how the platform works and its origin, where Caramel is in terms […] [Read More]