PassTime is now literally connected to AT&T. PassTime announced this week that it will add connectivity from AT&T’s LTE-M network to its family of GPS products and solutions for automotive asset management services. Company leaders insisted this development will enhance asset tracking, dealer management and asset recovery services for PassTime’s customers. PassTime provides a suite […] [Read More]

Chief fraud strategist Frank McKenna described the fourth gathering of the PointPredictive Fraud Consortium Roundtable earlier this month just ahead of the National Automotive Finance Association’s Non-Prime Auto Finance Conference as the best one yet. Besides more than 50 attendees from 21 auto finance companies — including five of the top 10 market leaders — […] [Read More]

A new integration between dealership software provider Selly Automotive and independent used-car dealer management software company Frazer will help Frazer users manage leads from several websites and other sources, Frazer Computing president Michael Frazer said in a news release. More than 21,000 active users work with Frazer, which says it provides dealer management software that is […] [Read More]

Much innovation is emerging in the automotive sector. Even a glance at it foretells an exciting future for automotive technology and its benefits and challenges to OEMs, dealers, lenders, vendors and consumers. This article touches just briefly on a few highlights of these coming attractions. To learn more about these new ideas, products and solutions […] [Read More]

The used-vehicle market, both retail and wholesale, is skewing younger. Two out of every three used vehicles retailed by franchised dealers in the first quarter were 4 years old or newer, according to the latest Used Vehicle Report from Edmunds. And on the wholesale side, there has been a 5.4% year-to-date increase through May for […] [Read More]

DealerPeak says its new car dealership CRM for independent dealerships helps busy dealers manage “nearly every aspect” of the business, including customer sales, communication, website management, inventory control, sales leads, SMS and MMS texting. Called CarDog, the CRM is “the first complete mobile-accessible automotive car dealership CRM software solution,” DealerPeak said in a news release. […] [Read More]

Bar-like meeting counters with stools for up to 100 customers is just one portion of HGreg.com’s approximately $25 million investment into its new Miami pre-owned car dealership location. The site, named HGreg.com Miami, opened Saturday. HGreg.com says the new Miami site is located on “prime real estate” between I-95 and 441, just north of NW […] [Read More]

Drive Motors changed its name while collecting $5 million in funding from a trio of sources, including Ally Financial. According to a recent news release, the provider of digital commerce solutions for some of the world’s largest auto retailers and brands, officially changed its name to Modal and raised $5 million of venture capital. Those funds […] [Read More]

Fitch Ratings is a bit more upbeat about the direction of the auto lease asset backed securities market. Analysts expect stability in residual value realizations throughout the year, prompting them to revise their wholesale market outlook haircut to neutral from negative for most auto lease asset backed securities (ABS). Despite a 16% jump in auto […] [Read More]

DriveTime Automotive Group and its related finance company, Bridgecrest Acceptance Corp., announced on Monday that they have commenced a cash tender offer to purchase any and all of their outstanding $400 million aggregate principal amount of 8.00% senior secured notes due 2021. In conjunction with the tender offer, DriveTime said in a news release that […] [Read More]