Two recovery industry providers aligned before 2018 to benefit their finance company clients. MBSi Corp., a member of the Automotive Intelligence Council and provider of repossession assignment software and vendor compliance solutions, and Servicing Solutions, an organization specializing in primary and back-up servicing, announced a partnership to provide a seamless asset recovery process for auto […] [Read More]

Members of the American Recovery Association (ARA) can leverage a new opportunity in 2019. ARA, in partnership with Harding Brooks Insurance Agency, announced the newest benefit of the ARA membership and what the association believes is the first of its kind: a guaranteed $10,000 ($20,000 accidental death, no questions asked) life insurance policy that covers […] [Read More]

GWC Warranty is opening 2019 with a reinforced staff to highlight its used-vehicle service contracts sold through dealers. The company recently announced the addition of Andrew Huber as its new product strategy manager. As a member of the marketing department, Huber will be responsible for managing GWC’s suite of products while evaluating new opportunities for […] [Read More]

Car-as-a-service provider Fair announced a $385 million Series B financing round on Thursday that is led by SoftBank. Also participating in the round were Exponential Ventures, Munich Re Venture’s ERGO Fund, G Squared and CreditEase. The round, Fair said, “is subject to receipt of regulatory approvals and satisfaction of other customary closing conditions.” Fair plans […] [Read More]

Online dealer-to-dealer wholesale marketplace ACV Auctions announced a $93 million Series D funding round on Wednesday, bringing its total funding raised since 2015 to more than $145 million. Bain Capital Ventures and Bessemer Venture Partners led the round, which also included Future Fund, Tribeca Ventures and Armory Square Ventures. This round gives ACV the ability […] [Read More]

DriveItAway, which focuses on dealer-focused shared mobility, said Wednesday it has bought the technology and assets of Whip Inc., while also announcing it has ended its association with HyreCar. Regarding the latter move, DriveItAway explained that it allows the company to “fulfill its mission of working exclusively with automotive retailers.” Through the acquisition of Whip, […] [Read More]

KAR Auction Services chief economist Tom Kontos easily explained the notable wholesale price decline he and his analyst team spotted after compiling November data. According to ADESA Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model class, Kontos noted wholesale used-vehicle prices in November averaged $10,599 – down 4.2 percent compared to […] [Read More]

Ally Financial specifically targeted locations in Florida, North Carolina, California, Michigan and New Jersey where its holiday cheer could be most impactful. The finance company is showing its appreciation for its dealer customers this holiday season with a series of donations across the country aimed at dealership employees and communities facing adversity. In all, Ally […] [Read More]

With SubPrime Auto Finance News wrapping up its online endeavors for the year on Friday, it presented the opportunity to delve into the metrics of our website activity, using the capabilities of Google Analytics to uncover what you the reader — our customers — found to be the most noteworthy developments of 2018. While a […] [Read More]

In a quarter that showed a “notable negative turn in overall dealer sentiment,” even the used-car side of the dealership is seeing a bit less optimism these days, according to the Q4 2018 Cox Automotive Dealer Sentiment Index released this week. “The fourth quarter represented a notable negative turn in overall dealer sentiment and their […] [Read More]