According to a news release distributed on Tuesday, Westlake Portfolio Management (WPM) has been selected as the third-party servicer by Total Finance for its $100 million automotive portfolio. The company highlighted approximately 84% of the $100 million portfolio at the time of acquisition came from active, non-delinquent accounts. WPM is handling full-operational support on the portfolio, […] [Read More]

Along with the likes of Ally Financial, Autotrader and Kelley Blue Book, those in the used-car and remarketing industry who follow NASCAR should see another familiar name on the tracks this season: Dent Wizard. The company, which provides vehicle conditioning services and protection products, has signed a multi-year partnership with Team Penske. During this season […] [Read More]

It’s spring, so that means a new crop of talented graduates have turned the page (and their tassels) and are about to enter the workforce. But how do you attract the best and brightest of these to work for your auto auction? That question is especially important amid recruiting challenges in the auction industry and as new […] [Read More]

With a service partnership between auto industry software provider MAX Digital and inventory consulting company Lotpop, MAX Digital says participating dealers can sell more cars and capture more gross through the use of its inventory management product along with Lotpop’s staffing and process guidance. MAX Digital says it provides a dataset for inventory management with millions of […] [Read More]

With the Ford Mustang, a college graduate can enjoy the use of a quick, sporty car before family life kicks in. The 2015 to 2019 model Mustang is one of 10 vehicles that Autotrader has named as the “best cars for recent college graduates in 2019.” Autotrader managing editor Tara Trompeter said in a news […] [Read More]

As leaders of many family-owned businesses, ServNet owners take a strong interest in their employees, says Greater Rockford Auto Auction owner Ryan Clark. “ServNet’s scholarship program is a great way for us to encourage the members of our auction families and to help lay the groundwork for the next generation that follows,” Clark said in […] [Read More]

Canada had another reason to be joyful in connection with Victoria Day. The United States lifted tariffs on aluminum and steel. Prime Minister Justin Trudeau and the Canadian Federation of Independent Business (CFIB) each applauded the action by President Donald Trump that first came to light on Friday and was finalized on Sunday. “When the […] [Read More]

KAR Auction Services chief economist Tom Kontos and Cox Automotive chief economist Jonathan Smoke each examined recent tariff developments originating from the White House during the past week. Each expert discussed the potential ramifications stemming from President Trump proclamations. Last Friday, Trump delayed proposed auto tariffs on Europe and Japan for six months. Then on […] [Read More]

The unofficial start of summer is just ahead with Memorial Day weekend coming, but the wholesale market is still seeing a few signs of the spring market. This week’s Market Insights report from Black Book indicated that the spring market has been persistent through the middle of May. “Prices remained stable for a second consecutive […] [Read More]

Typically, conference organizers set an agenda ahead of time, but Ignite Consulting Partners tried a different approach and enjoyed great success with its first compliance-training event. Last week, the firm hosted its inaugural Compliance Unleashed Conference for independent dealers and auto-finance companies as attendees completed a pre-conference survey designed to identify their needs and concerns.  […] [Read More]