One of the regular contributors published within SubPrime Auto Finance News is taking on another industry responsibility. Linda Robertson, executive director of the Association of Dealership Compliance Officers (ADCO), announced on Wednesday that Randy Henrick has joined ADCO’s board of directors. A highly respected dealer compliance and consumer credit attorney, Henrick has over 30 years […] [Read More]

Your finance company's underwriting department should be quite busy during the next few days if the newest research from WalletHub is any indication. Despite business headlines chronicling the travails of the stock market and international trade clashes, WalletHub projected that 77.5 million new- and used-vehicle sales will be completed during Labor Day weekend with many […] [Read More]

Kristin Kolodge says alerts from vehicle technology such as lane-keeping and centering systems should not come across as a “nagging parent.” “No one wants to be constantly told they aren’t driving correctly,” said Kolodge, who is executive director of driver interaction and human machine interface research at J.D. Power. “Automakers are spending lots of money […] [Read More]

Dealers who might be accustomed to seeing wholesale prices cool a bit when the outside temperatures are their warmest likely are leaving the lanes disappointed. The latest Black Book Market Insights report again detailed how wholesale prices are holding at higher levels this summer. In fact, overall car segment values increased by 0.06% last week, […] [Read More]

With millions of used vehicles changing hands each year and millions of individuals changing addresses, the task for finding vehicle owners who have a model subject to a recall can be incredibly daunting. To help, LexisNexis Risk Solutions rolled out a new tool on Tuesday aimed at helping automakers reach vehicle owners to get critical repairs […] [Read More]

With the launch of CarSense Glen Mills in Pennsylvania, Penske Automotive Group welcomed a sixth used-vehicle supercenter in the U.S. and its 15th overall. Penske’s six CarSense stores are all in New Jersey or Pennsylvania. Penske also has nine used-vehicle supercenters in the United Kingdom. “We are delighted to open the new CarSense location in […] [Read More]

Describing the store as an example of Lithia’s strategy of acquiring “a strong brand with considerable earnings potential,” Lithia Motors has added Hazleton Honda in Hazleton, Pa., to its network. Lithia anticipates that the dealership will generate annual revenue of about $50 million. With the acquisition, Lithia extends its store network into eastern Pennsylvania. The […] [Read More]

A new partnership between Carfax and conversational commerce company Gubagoo provides another avenue for car shoppers to research a vehicle before purchasing, according to the companies. A free Carfax Vehicle History Report is now accessible to consumers using Gubagoo’s chat and digital retailing services on dealer websites. Gubagoo’s conversational commerce platform for auto dealerships and […] [Read More]

Labor Day weekend marks the end of the summer sales season. With hard-to-pass up offers being promoted, shoppers will be hitting their local dealerships to take advantage of the deals. Annual holiday weekends like Labor Day bring in an increase in sales for dealerships, which also means an increase in the amount of customer information […] [Read More]

Younger consumers are paying more for vehicle repairs than their older counterparts, according to a survey orchestrated by Ally Financial, which also reinforced the value of vehicle service contracts. A recent Ally survey conducted online by The Harris Poll among 2,012 U.S. adults determined that, on average, Americans spent $1,986 on vehicle repairs and maintenance […] [Read More]