AutoNation has become the latest auto retailer to issue an asset-backed securitization. The company announced it has completed its first ABS through its captive finance company, generating $700 million in funding for its auto loan portfolio at a weighted-average fixed interest rate of 4.90%. CEO Mike Manley congratulated the AutoNation Finance team for “an excellent […] [Read More]

Many professionals with the Consumer Financial Protection Bureau have lost their jobs in recent weeks stemming from upheaval at the regulator. Well, at least one former higher-level staff member has secured a new position, as the National Independent Automobile Dealers Association hired Patrick O’Brien as its director of government relations and compliance. O’Brien, who has […] [Read More]

This week, BlytzPay and Ituran USA announced a new integration that unifies payment communication and GPS command functionality into one seamless system. With this integration, the collections management platform and GPS tracking and vehicle recovery solutions provider said auto dealers and lenders can now manage their entire vehicle finance workflow from a single screen. This […] [Read More]

With Memorial Day straight ahead, America’s Car-Mart is getting set for its annual Community Fan Drive, which is a philanthropy effort orchestrated by the buy-here, pay-here dealership chain for more than 25 years. The program encourages customers to go to any Car-Mart dealership and donate a new 20-inch box fan. In return, customers can receive […] [Read More]

TurboPass Corp. announced on Thursday that two major dealership groups now are clients using its verification technology, including a prominent one in the buy-here, pay-here space. TurboPass now is working with Family Auto, a BHPH dealership group with eight locations across South Carolina. “As a BHPH dealership, we’ve got tight margins and no time for […] [Read More]

ServNet Auction Group announced a pair of leadership moves on Thursday, appointing Billy Willis of Greenville Auto Auction to its board of directors and naming Mere Rangel of Big Valley Auto Auction as ServNet’s new member chair. Willis is general manager of Greenville AA, located in North Carolina, and has been with the auction since […] [Read More]

The Federal Reserve says at almost every opportunity that policymakers watch all sorts of data and trends before adjusting interest rates. If the Fed wants more information about what a rate cut can do, it can examine the auto-finance portion of TransUnion’s Q1 2025 Credit Industry Insights Report, which includes a delinquency rate not seen […] [Read More]

Carvana is bringing the next verse of its now-familiar song to the Music City. The online used-car retailer said it’s adding inspection and reconditioning center capabilities to its ADESA Nashville auction, making it the 10th and latest in a series of such combined facilities the company had originally dubbed “Megasites.” Carvana said the addition will […] [Read More]

The auto dealership buy/sell market has slowed in the wake of President Trump’s tariffs, with the resulting geopolitical uncertainty and financial market volatility leading to a cautious approach, according to Kerrigan Advisors’ Blue Sky Report for the first quarter of 2025. The report found buy/sell activity in Q1 dropped 14% year-over-year, with 94 transactions closed […] [Read More]

Nissan Canada’s latest partnership represents another step in its quest to take the stress out of buying and owning an electric vehicle. The automaker has teamed with Wallbox, a provider of charging and energy management systems, to launch a nationwide integrated home charging system for Nissan EV owners. As part of the program, RocketEV, a […] [Read More]