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]

National Insurance Crime Bureau’s communications vice president Brooke Kelley says insurance companies and agents will be available to help those feeling the impact of the recent Hurricane Barry. “However, when tragedy strikes, criminals have the tendency to swoop in and scam consumers, especially when it comes to the resale of flooded vehicles,” Kelley said in […] [Read More]

In an expansion to their partnership, Fair is now offering new loyalty rewards to Uber drivers. The vehicle subscription company announced Thursday that it is providing Fair Credit rewards to eligible Uber Pro drivers, who can use those credits towards paying for a Fair vehicle. Fair will up its credit amounts to Uber Pro drivers […] [Read More]

With CarMax’s “new personalized car buying experience,” customers can complete the entire car buying process all in the comfort of their own home. That includes financing, trade-in and paperwork, without visiting the store. Other aspects of the “experience” include a combination of online and in-store shopping, and help from CarMax associates in person or by […] [Read More]

Spring officially ends in June, and KAR Auction Services chief economist Tom Kontos explained the wholesale market wrapped up its spring season “appropriately” during the same month. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, Kontos reported that wholesale used-vehicle prices in June averaged $11,478 — down 1.6% […] [Read More]

As its Capitol Hill organization reached a new threshold of participating federal lawmakers, the Auto Care Association recently announced the elected members of its board of directors for 2019-2020. This board is effective as of July 1. The members of the Auto Care Association board of directors are: Chairman: Mark Finestone, AutoZone Vice chairman: Brad […] [Read More]

Attention dealers: used-car buyers are testing your vehicle knowledge. Fifty-one percent of Canadian used-car buyers told us the last time they bought a vehicle, they tested the sales person by asking a question they already researched the answer to. There is some good news: Your well-trained sales reps are passing, for the most part. But 37% […] [Read More]

Perhaps accounting specialists at some auto-finance companies and buy-here, pay-here dealerships can exhale a bit as major new mandates involving how they track bad debts might not be implemented for another year. An update from the Financial Accounting Standards Board (FASB) indicated its board voted unanimously this week to propose delaying the effective date of […] [Read More]

In the first half of 2019, there were 5.2% more vehicles 5 years old or younger running through the auction lanes than there was a year ago, according to J.D. Power Valuation Services. The company’s latest Guidelines report showed a slight uptick (0.3%) in auction volume for this group of vehicles in the final month […] [Read More]