One of the most frustrating places where a finance company’s collateral can be during the repossession and recovery processes is the equivalent of “car jail.” To help mitigate risk and reduce that frustration, skip-trace and repossession management firm ALS Resolvion recently released a new impound management service called Impound Pro.  The “end-to-end” service is designed […] [Read More]

Fair made two significant moves in September, securing a $500 million revolving credit facility to help “sharply scale” its partnership with Uber along with buying Ford Motor Credit’s Canvas vehicle subscription service. And now Fair is turning its attention back to cultivating relationships with dealerships. Fair’s aggressive actions continued on Wednesday as the vehicle subscription […] [Read More]

Last month, Carvana expanded its footprint throughout the Southeast, making vehicle deliveries more available in places such as Florida and Tennessee as well as unveiling plans for a reconditioning center in North Carolina. Carvana also recently boosted its financing horsepower in the Southeast by finalizing a relationship with Regions Bank. Working with Carvana, Regions Bank […] [Read More]

F&I product provider RoadVantage hired a new chief financial officer this week. Bringing more than 25 years of senior finance and operational experience to RoadVantage is its new CFO Scott Wolfe, who the company believes also will offer “fresh perspective on managing our continued rapid growth.” Wolfe possesses experience in the management and expansion of […] [Read More]

The auto-finance industry went to two of the most readily accessible tools it has to complete new-vehicle deliveries in September as transaction prices for new metal continue to stretch buyers’ purchasing capabilities. As J.D. Power spotted incentives climbing to within $28 of an all-time high, Edmunds indicated the average interest rate for a new-vehicle retail […] [Read More]

It’s another value retention record. Canadian Black Book’s CBB Used Vehicle Retention Index market average for August set a new record for two- to six-year-old vehicles at 107.2. That is a gain of 3.7 points from last year at the same time. Also, continuing a positive trend showing a two-point gain across all industry segments […] [Read More]

Maria Soklis says automotive industry leaders believe in the importance of supporting their local communities. “Today, we had the opportunity to do just that — leading by example — to help build homes for Canadian families who need a little support to gain stability and self-reliance,” said Soklis, who is president of Cox Automotive Canada. […] [Read More]

The softening of wholesale prices has accelerated, according to the latest Black Book Market Insights report. Analysts spotted decreases a week ago significantly higher than the average seen during the previous four weeks for both cars and trucks. “Used-vehicle market strength is waning as depreciation rates increased week over week,” Black executive vice president of […] [Read More]

In anticipation of holiday shopping now that October has arrived, the Costco Auto Program Season of Values promotion launched on Tuesday The promotion will be available nationwide through Jan. 2 on qualifying Chevrolet, Buick, GMC and Cadillac cars, trucks and SUVs. For the past 12 years, the Costco Auto Program has been running year-end promotions […] [Read More]

Manheim said on Tuesday that it’s continuing to follow its strategy to promote talent from within the company. As a result, Manheim announced two new general manager selections at locations in the West. Assuming new leadership roles are Eddie Lafferty at Manheim Seattle and Danny Brawn at Manheim Nevada. Lafferty has been named general manager […] [Read More]