Adoption of digitized contracting and documentation workflows by auto retailers and their financing partners that foster back-office efficiencies continued on an upward trend, according to analysis by Wolters Kluwer Compliance Solutions from its Q3 Auto Finance Digital Transformation Index. While Q3 adoption compared to Q2 was mostly unchanged at less than 0.5% due to the […] [Read More]

The customer who took delivery at your dealership a year or more ago might still like the vehicle but not the monthly payment. With the rates appearing to be on a downward path, TransUnion wanted to gauge consumer interest in refinancing, conducting research that examined both the auto and mortgage markets. “We surveyed consumers to […] [Read More]

AutoPayPlus by US Equity Advantage made its fourth move so far this year connected with its workforce. On Tuesday, the automated financial concierge service provider announced the promotion of Damon Walker to national sales director. In this position, AutoPayPlus said Walker will spearhead the company’s sales initiatives, working to drive strategic growth and expand partnerships […] [Read More]

Car shoppers believe they’ll get a better deal for their old vehicle from a private buyer than from trading it in to a dealer or selling to a third-party service, according to a new survey by private vehicle transaction platform DealNow. The online survey of more than 3,000 car shoppers across the U.S., conducted in […] [Read More]

When it comes to used vehicles, Asbury Automotive Group believes sales are great — but gross profit is better. So, president and CEO David Hult wasn’t concerned when Asbury’s third-quarter financial results showed used-car unit sales down 6% on a same-store basis from the previous year. He was more focused on the quarter-over-quarter rise in […] [Read More]

The difference between the price of a new car during the third quarter and that of a used car is enough money to … well … buy a car. Enough, at least, to purchase an older pre-owned vehicle. According to an analysis by Edmunds director of insights Ivan Drury, the gap between average new- and […] [Read More]

Here’s more evidence the used-car market is a complex place nowadays. According to the Q3 Quarterly Vincensus Report, Lotlinx acknowledged while certain brands face issues with high day supply and a largely aging inventory, others are struggling with supply constraints. When it comes to inventory dynamics unfolding during the third quarter, the report highlighted complex […] [Read More]

It’s a scenario buy-here, pay-here dealers likely have experienced often. A contract holder falls behind on payments because the vehicle was impounded, impacting employment and income. To help BHPH operators and special finance companies navigate this common challenge, Advantage GPS on Tuesday announced a major enhancement to its impound lot management system. Advantage GPS highlighted […] [Read More]

The National Centers for Environmental Information (NCEI) said the 24 confirmed weather disaster events so far this year — including hurricanes Helene and Milton, as well as other storms and a wildfire event — created losses exceeding $1 billion each in the United States. And CARFAX estimated that the 2024 hurricane season has resulted in […] [Read More]

Toyota, led by its wildly popular Tacoma small pickup, was again the big winner in Canadian Black Book’s annual Best Retained Value Awards. The Japanese automaker claimed a total of seven of the 2024 awards, the most of any brand, including the top overall brand awards for cars and SUVs/trucks. In addition, Toyota’s sister brand, […] [Read More]