On Monday, Budco Financial announced the integration of its 0% payment plan services into the entire suite of Darwin Automotive F&I software solutions. Officials explained Budco Financial’s addition to the Darwin F&I and Service menus, digital retailing solution and the new follow up program for previously declined F&I protection, can enable dealerships to seamlessly present, rate […] [Read More]

Collateral performance in the subprime U.S. auto loan asset-backed securities (ABS) sector in May was mixed, according to the most recent S&P Global Ratings report. Analysts discovered subprime auto loan ABS month-to-month declines in both losses and recoveries during May. However, S&P Global noticed losses rose year-over-year and delinquencies increased both month-over-month and year-over-year. Meanwhile, […] [Read More]

Peer-to-peer carsharing marketplace Turo has landed a quarter-billion-dollar investment from IAC, an internet and media holdings company whose portfolio includes the likes of Vimeo, HomeAdvisor, Investopedia, tripsavvy, Angie’s List, Tinder, Match and many more. With the $250 million Series E funding announced Wednesday, Turo has now raised $470 million.   “This latest round of funding brings Turo […] [Read More]

Haig Partners describes John Davis as “a fixture in the professional dealership services sector for over 35 years.” Now Davis, who is a former partner with DHG Dealerships, is joining Haig Partners as managing director. Davis, who joined Haig Partners effective June 1, has served in various leadership positions at DHG.   Haig Partners said […] [Read More]

Global online vehicle auction company Copart has opened a new location in Buffalo, N.Y., and the company’s chief executive officer Jay Adair said the expansion is another step toward the company’s efforts to create “a denser network of facilities in the state.” The new location is the sixth for Copart in the state of New […] [Read More]

Noting that an effective website is crucial for auto manufacturers, J.D. Power released its 2019 Manufacturer Website Evaluation Study Cross-Device — Summer. Examining websites based on information/content, appearance, navigation and speed (in that order of importance), the study measures how useful automotive manufacturer websites were during buyers’ process of shopping for a new vehicle. Placing in the […] [Read More]

In his new position as chief commercial officer for JMN Logistics and Transportation, logistics industry veteran David Larson will work on sales development strategies for new vehicles, remarketing accounts and dealerships, according to the company. Larson in the new role will help lead sales, marketing and customer service efforts while also focusing on the quality […] [Read More]

On Friday, HyreCar announced the pricing of an underwritten registered public offering of 3.5 million shares of its common stock at a public offering price of $3 per share. The company looking to leverage on a marketplace for ridesharing revealed even more in its filing with the Securities and Exchange Commission, acknowledging the depths of […] [Read More]

A recognized name in the auto-finance space now is leading Flagship Credit Acceptance, which is setting its sights on continued growth. The finance company announced this week that Bob Hurzeler joined Flagship as its chief executive officer and as a member of its board of directors. According to a news release, Hurzeler began in his […] [Read More]

This week, Westlake Financial Services finalized another securitization above $1 billion, setting a new company record in the process. Westlake announced the closing of its 19th asset-backed securitization (WLAKE 19-2) at $1.2 billion. This latest securitization is the largest ever in Westlake history and the fifth consecutive issuance of more than $1 billion. “Our largest […] [Read More]