Buying and selling apps OfferUp and letgo, which feature marketplaces of products that include cars, said on March 25 that they intend to combine their U.S. businesses. The companies say the deal will create a mobile marketplace that supports more than 20 million monthly active users. Through the deal, users could benefit from nationwide shipping […] [Read More]

Editor's note: More days and times for online testing have been added.  The International Automotive Remarketers Alliance (IARA) is taking steps to ensure members still can complete testing for its Certified Automotive Remarketer (CAR) program via online proctoring. IARA scheduled online testing times for Wednesday, Thursday and Friday. First, individuals must complete the IARA Online Proctoring […] [Read More]

Special incentives such as zero percent financing for 84 months and no payments for 90 days on select FCA 2019 and 2020 models are just one part of FCA’s new “Drive Forward” initiative. The initiative also features what the automaker is calling a “new online retail experience,” which allows consumers to purchase vehicles from home via […] [Read More]

The coronavirus pandemic has made it difficult to impossible for dealers to perform certain contractual obligations. Especially where shelter-in-place orders are in effect and auto dealer sales operations are considered to be non-essential businesses, a dealer forced to close its sales business may be unable to make payments due on floorplan loans or meet franchise […] [Read More]

Financial-services providers want to reach their customers to inform them about products and programs that can be beneficial during the coronavirus pandemic, and they’re asking for help from the Federal Communications Commission (FCC) to clear a regulatory path. This week, seven industry trade associations compiled a 23-page petition to the FCC requesting an immediate ruling, […] [Read More]

Lightico conducted a customer survey this past weekend and found an overwhelming majority of its auto-finance users — 90.1%, to be exact — currently prefer digital or remote interaction with their provider stemming from the ongoing coronavirus pandemic. Meanwhile, Lightico also discovered that 40% of respondents either already have or are seeking modifications to their installment […] [Read More]

The impact of the COVID-19 to the auto industry is complex, widespread and trickle-down in nature, impacting everything from manufacturing and supply chains to retail/wholesale sales and ancillary services.  Scot Wingo, co-founder and CEO of Spiffy, joined the Auto Remarketing Podcast on Tuesday to discuss how the panedmic has impacted his company's area of expertise: […] [Read More]

One of the founding members of the Automotive Intelligence Council is tackling perhaps one of the most daunting challenges ever — how collections will proceed once the coronavirus pandemic subsides. SubPrime Auto Finance News is hosting a free webinar featuring DRN executive vice president and general manager of fintech Jeremiah Wheeler, who will delve into […] [Read More]

What will the impact of the COVID-19 pandemic ultimately have on used-car prices in 2020? That hinges on a number of factors. Depending on which of two scenarios play out, used-car prices could decline about 10% in coming months and then recover in the fourth quarter or fall by as much as 15% before starting […] [Read More]

Finance company Exeter says its auction partners “are a vital part of Exeter’s servicing arm.” “They are asked to perform transportation of thousands of units, reconditioning, redemptions and most important, market to our dealer base,” the company said in an emailed statement Exeter continued, “The stronger the marketing of our brand, the more dealers that […] [Read More]