Protective Asset Protection recently shared a new set of data analysis showing how much average claims have increased annually for GAP payouts and vehicle service contract (VSC) claims dating back to 2014. The provider of F&I programs, services and dealer owned warranty company programs found the average GAP claim payout has risen 19.5% between 2014 […] [Read More]

Through a new partnership between Black Book and inventory procurement platform Drivably, Black Book’s automotive intelligence and vehicle valuation data are powering Drivably’s dealer inventory acquisition ecosystem. Black Book says that in helping dealers find the right inventory opportunities, Drivably bases its recommendations on criteria such as a dealer’s unique preferences, historical dealership performance data, […] [Read More]

In naming Tony Markese as vice president of reconditioning, Manheim says the move will help the company grow its reconditioning operations in preparation of digital and mobility sector growth. Markese, who was promoted to vice president, operational excellence for Manheim in 2012, will now have responsibility for determining the strategic direction of the company in […] [Read More]

The used-car market in the second quarter appeared to have been stronger for dealers than it was in the first quarter, according to data released Monday by Cox Automotive, but used supply is looking a bit trickier for both independent and franchised dealerships. And that may raise a question as to how long the used-car […] [Read More]

When a seller has more precise pricing with a higher degree of accuracy for the actual 17-digit VIN for the car that’s being remarketed at a point in time, the odds of the seller getting the most money for that car increase. That’s one of several benefits that DRIVIN vice president of commercial solutions Terrence […] [Read More]

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]