Friday is Feb. 28, but it’s not the last day of February as 2020 is a Leap Year, adding an extra day in the second month of the year. To help finance companies consider an array of potential issues stemming from this circumstance that happens every four years, Carleton compliance associate Brian Kelly addressed three important questions. […] [Read More]

Dealerships and finance companies now again can cater to servicemembers and their families just like any other civilian customers who finance a vehicle purchase. According to a news release distributed on Thursday afternoon, the U.S. Department of Defense has granted a joint petition filed by the National Automobile Dealers Association (NADA) and the American Financial […] [Read More]

Sonic Automotive will locate a dealership and regional headquarters for EchoPark Automotive in Duluth, Ga. A news release this week from Georgia Gov. Brian Kemp said Sonic is investing $20 million in the project. EchoPark Automotive locations specialize in pre-owned vehicles. For the company’s EchoPark brand, the new facility will serve as a regional headquarters, […] [Read More]

Axis Auto Finance closed the second quarter of its 2020 fiscal year with a pair of records, aided in part by its partnership with Westlake Financial Services and Nowcom Corp. forged last September. The publicly traded subprime auto finance company reported this week that its quarterly revenues jumped 13% year-over-year to a record $9.2 million. […] [Read More]

Recent efforts by the Arizona Independent Automobile Dealers Association in conjunction with state authorities resulted in a reduction of a notable threat to independent operators — curbstoning. According to a news release from the Arizona Department of Transportation (ADOT), state investigators have broken up what they called a “major” criminal operation based in the East […] [Read More]

In its newest study of used-vehicle sales, LendingTree analyzed more than 600,000 auto-finance queries from prospective contract holders in the top 100 U.S. metro areas based on population. Analysts found the city with residents financing the oldest used vehicle on average worked with providers adding units into their portfolio that were nearly 8 years old. Topping […] [Read More]

It has been a decade since the certified pre-owned vehicle market began the year with these kinds of numbers. A Cox Automotive Data Point report, citing Motor Intelligence, indicates there were 215,959 CPO sales last month. Not only is that an 8% year-over-year gain, it’s the best January for CPO sales since 2010, Cox Automotive […] [Read More]

Phong Ly notes that the “iconic and indestructible” Toyota Land Cruiser has roots dating back to 1950 and is designed to last at least 25 years. Many developing countries where off-road driving is the norm rely on the vehicle, Ly said. “Like the Land Cruiser, the Toyota Sequoia is built on a truck platform, so […] [Read More]

If you ask Spencer Scott why CarGurus launched its Real-time Performance Marketing suite nationwide, he starts by saying that dealers noticed how CarGurus had grown its own audience. “And they were turning to us to ask us how they could do that for their own website,” said Scott, who is the company's senior vice president of […] [Read More]

Saying the new company serves a list of clients that includes 90% of the world’s automotive and global customer experience sector companies, InMoment and MaritzCX said they have agreed to combine the two companies. “This industry needs a new and disruptive approach if we truly wish to transform the way businesses look to improve experiences and results,” […] [Read More]