Axis Auto Finance provided a wide-ranging shareholder update this week, including that the subprime automotive finance company closed on a $6.25 million term loan with a Schedule 1 bank. From the onset of the pandemic and the government-mandated measures to combat the spread of the coronavirus, Axis said it has supported borrowers through payment accommodations […] [Read More]

Economic impacts related to the COVID-19 pandemic forced CarHop to diminish its dealership footprint. The chain of buy-here, pay-here dealerships recently announced the closure of its two Pennsylvania locations in Carnegie and Pittsburgh. CarHop, which has offered special financing through its network of dealerships since 1996, pointed out its customers still can find service or […] [Read More]

One of the primary capital providers for buy-here, pay-here dealers not only called off a merger agreement with another bank in the Lone Star State, the institution also announced a significant change in leadership. Texas Capital Bancshares, the parent company of Texas Capital Bank, on Tuesday announced that Texas Capital Bancshares and Independent Bank Group, […] [Read More]

Discrimination allegations from the Federal Trade Commission against a New York City dealer resulted in a $1.5 million settlement. The FTC announced this week that Bronx Honda and general manager Carlo Fittanto will pay $1.5 million to settle charges they discriminated against African-American and Hispanic vehicle buyers and engaged in numerous other illegal business practices. […] [Read More]

Safe-Guard Products International LLC has named Mary Buhr as director of account management and business development for Safe-Guard Canada. Safe-Guard Products International is a provider of third-party private label protection products for the automotive, RV, marine and powersports industries, and Safe-Guard president David Pryor said Buhr’s “multi-faceted, deep experience within the automotive world” will be […] [Read More]

Black Book’s analyst team might not have rested much during the Memorial Day weekend, judging by the robust information contained in its newest COVID-19 Market Update released on Wednesday morning. From discussing how the Hertz bankruptcy might impact wholesale volume to a quartet of insights from dealers to the latest price movements. Black Book covered […] [Read More]

Compliance expert Randy Henrick, formerly of Dealertrack and now with Ignite Consulting Partners, offered insight about potential dealership advertising pitfalls during the COVID-19 pandemic during this episode of the Auto Remarketing Podcast. Henrick also touched on a few of the compliance differences that can come into play when a vehicle is delivered somewhere else other […] [Read More]

Melanie Hamilton says that even with the current COVID-19 situation, Americans still need cars. “And what better way is there to learn about the latest vehicles than on the biggest screen in their home,” said Hamilton, who is head of enterprise sales for Effectv. Effectv is the advertising sales division of Comcast Cable, and the […] [Read More]

Flick Fusion, which offers a video hosting, marketing and distribution platform to automotive and other inventory-based industries, has added 18 new customers to its network of value-added resellers, or VARs, in the past two and a half months of COVID-19 social distancing implementation. The company said it has done that as demand for video marketing […] [Read More]

RouteOne recognizes fewer deliveries are happening at dealerships, while paper is being used in less quantities, too. To enhance the eContracting process for dealers, finance sources and their customers, RouteOne on Tuesday announced the launch of eSign Anything. RouteOne’s eSign Anything can allow dealers to electronically send all eSignable deal documents through RouteOne’s secure signing portal […] [Read More]