Shift announced Wednesday it has added two more customer financing sources to its vehicle ecommerce platform, leveraging its partnership with the Lithia Motors dealer group to bring more financial entities into the fold. With TD Auto Finance and U.S. Bank now added to the mix, Shift has seven finance companies integrated into its platform. That […] [Read More]

New-vehicle sales might be softening so far this year, but franchised dealerships themselves are turning at a significant pace. Kerrigan Advisors reported that this year’s dealership buy/sell market rocketed to a strong start in Q1 with 54 completed transactions, representing a 38.5% increase year-over-year. Analysts said in the First Quarter 2019 Blue Sky Report that […] [Read More]

On Friday, Kroll Bond Rating Agency shared its latest analysis of the auto asset-backed securities market, noting that May showed mixed credit performance across securitized marketplace. Analysts reported that annualized net losses in KBRA’s Tier 1 index fell 95 basis points month-over-month but rose 87 basis points year-over-year to 5.06%. KBRA pointed out 60-day delinquency […] [Read More]

After a successful pilot program, Westlake Financial Services now is catering to dealers that want to retail vehicles with branded titles to consumers who need to finance these purchases. According to a news release distributed last week, Westlake said it now finances vehicles with brands in 47 states. The company indicated vehicles labeled as salvage, […] [Read More]

Sagent Lending Technologies and Experian are collaborating to help finance companies make sure applications coming through dealership websites or showrooms are in fact from the individual they came to be. Last week, Sagent announced it has teamed with Experian to integrate the company’s fraud and identity solution, Precise ID, into its auto loan origination system […] [Read More]

Teledata Communications (TCI) and Dealertrack began their week by enhancing their relationship. TCI, a leading provider of loan origination solutions for credit unions, banks and finance companies, has expanded its partnership with Dealertrack to enable its network of lenders to increase the speed, accuracy and efficiency of their automotive paper contract processing and funding operation […] [Read More]

The exuberance in Steve Jordan’s voice is as apparent as a full-size truck that’s been enhanced with a lift kit, upgraded tires and sharp wheels. The chief executive officer of the National Independent Automobile Dealers Association emphasized his enthusiasm not only stems from the organization’s current state of affairs, but also the potential growth and […] [Read More]

The nation’s largest retailer of used vehicles is a serious contender in the retail race to allow consumers to skip the dealership to buy, finance and arrange home delivery of vehicles. CarMax is supporting the expansion of its omnichannel sales experience — which describes buying a car online, by phone, text or email, in-store or […] [Read More]

Tim Cox, who is one of the founders of CarNow, said his company reached out to the top five dealers using its BuyNow digital retail platform and asked what had enabled their success. The common thread of their responses? "You have to have a champion inside your store. Period,” Cox said in an interview earlier […] [Read More]

Autotrader describes Cadillac’s certified pre-owned program as one of the best in the industry, and in June, Cadillac is offering several incentives on CPO vehicles. Cadillac is making its ATS compact luxury car, the SRX crossover and Escalade SUV available with 2.9% interest for up to 60 months to qualified buyers. Autotrader says that is “an […] [Read More]