Your potential customer has what could be a great trade; a vehicle that will stand tall on the front line and probably turn quickly. But then that vehicle is involved in an accident. To help all parties involved, Dealer Owned Warranty Co. (DOWC) this week introduced Value Protect, an option in a retail installment contract […] [Read More]

Experienced dealership managers and finance company executives might remember a juncture when subprime permeated much of used-vehicle financing. People with softer credit profiles opted for less-expensive used vehicles with a contract they could manage and risk that the provider deemed to be prudent. Times, they are changing. Experian’s newest State of the Automotive Finance Market […] [Read More]

In light of Tuesday morning’s devastating and deadly tornadoes that hit Tennessee, the auction community in the Nashville area was assessing the impact. Matt Trapp, Manheim’s regional vice president for the East, confirmed in a statement that Manheim Nashville, located in Mount Juliet, was “severely affected by powerful storm conditions” that came through the area Tuesday. […] [Read More]

Jeff LeBlanc is the new general manager at ADESA Moncton in New Brunswick, and ADESA Canada regional vice president Simon Robitaille says LeBlanc “has established relationships within the local dealer community.” LeBlanc “will provide a foundation for ADESA Moncton to excel in addressing the needs of all our customers,” Robitaille said in a news release. […] [Read More]

The Federal Reserve sensed the U.S. economy is becoming ill stemming from the COVID-19 coronavirus outbreak, so policymakers made the surprise move on Tuesday by cutting the target range for the federal funds rate by 50 basis points to 1.00% to 1.25%. Experts at Cox Automotive and TrueCar reacted to the first Fed action outside […] [Read More]

As April 15 looms, 58% of those planning to spend their tax refunds intend to put them toward a car purchase. That is according to a new survey from Enterprise Car Sales, which says it expects that trend to bring continued growth in the used car segment “as drivers look to maximize value and quality […] [Read More]

Vehicle buyer and seller marketplace IAA and claims management technology company Snapsheet say their new integrated partnership will reduce the time insurance carriers take to process claims for total loss vehicles. The companies say the integration combines IAA’s total loss claims and salvage services with Snapsheet’s configurable claims management platform. The news marks what the […] [Read More]

Dealers are on the hunt for inventory that matches potential-buyer preferences as we continue toward spring. As a result, the latest Black Book Market Insight report details price moves on those more popular units, including trucks and SUVs as well as sporty cars and luxury models. Black Book vice president automotive valuations Laura Wehunt — one […] [Read More]

Another consolidation arrived on Tuesday; this time involving firms creating software and technology aimed at helping dealerships retail vehicles when it’s convenient for potential buyers. Shuffling Madness Ventures (SMV), the parent company of PIN Business Network (PIN) and KelCar Holdings, an automotive software company from Hagerstown, Md., announced that they have come together to form […] [Read More]

As purchase preferences continue to skew toward SUVs and trucks, pushing average prices higher, Edmunds noticed what those buyers are being charged to finance that acquisition remained stable in February. Edmunds reported on Tuesday the average interest rate for new-vehicle financing stayed below 6% for the eighth month in a row. The annual percentage rate […] [Read More]