Santander Consumer USA is cutting quite a significant check to FCA US as part of a development involving Chrysler Capital. According to a news release distributed on Monday morning, SCUSA announced it has reached an agreement with FCA to amend the master private label financing agreement. Under the Chrysler agreement, which is in the seventh […] [Read More]

No doubt, both dealerships and their customers want to know ASAP if an application will be approved and a retail installment contract will be bought by the finance company. Well, the newest initiative from Consumer Portfolio Services is using that exact acronym. To speed the process for dealers entering and changing loan structure values, CPS recently […] [Read More]

The Financial Accounting Standards Board (FASB) looked to reinforce its position concerning the upcoming mandates placed on banks, credit unions and finance companies in connection with reserving for losses, emphasizing the changes can be implemented without incurring “significant costs.” Last week, FASB issued a proposed Accounting Standards Update (ASU) that included amendments designed to address […] [Read More]

IAA, Inc. has completed its spin-off from KAR Auction Services and began trading the “regular way” on the New York Stock Exchange on Friday. Later in the day, IAA president and chief executive officer John Kett spoke with Auto Remarketing by phone from the NYSE. "It's almost a bit overwhelming," he said. "It really is […] [Read More]

A CDK Global plan to divest its digital marketing business allows the CDK management team to work on increasing momentum in its core auto software business and to accelerate fiscal 2020 growth, CDK Global president and chief executive officer Brian Krzanich said in a news release. The company’s digital marketing business includes all of its […] [Read More]

Partnering companies — like in this case, Manheim — help organizations such as the American Red Cross Greater Carolinas Region succeed in their mission to ease human suffering during emergencies. “Their support allows us to mobilize volunteers and provide hot meals and shelter when there is nowhere else to turn,” said that organization’s chief executive officer Angela […] [Read More]

Laughing. You might not think of that as an important aspect of handling sales calls. But according to a new study, it is. A new report from conversational analytics company Marchex analyzed 6,200 U.S. auto dealership sales conversations in January. The endeavor showed top sales performers laughed during more than half of their calls. Marchex said […] [Read More]

Cox Automotive chief economist Jonathan Smoke emphasized that the statement he was about to make was “not a negative thing.” Smoke and other Cox Automotive leaders were speaking to reporters and others gathered at the company’s Detroit-area offices on Wednesday, discussing Cox's 2019 Mid-Year Review and Outlook report. “The strongest part of the market — from […] [Read More]

This week, SubPrime Auto Finance News secured the affidavit connected with an FBI investigation of a South Carolina Mitsubishi dealership containing scathing details about store management manipulating trade-in values, down payments and income figures in an elaborate fraud scheme that might have impacted at least eight finance companies. Investigators said witnesses who claim to be […] [Read More]

It appears Hoosier State dealers like the tools Dealertrack provides since an endorsement of them now has existed for a decade. According to a news release distributed this week, the Automobile Dealers Association of Indiana (ADAI) has renewed its preferred endorsement of Dealertrack Registration and Title Solutions in a continued effort to bring a modern, […] [Read More]