Mingled within rounds of Thanksgiving feasts, consumers likely will be purchasing an array of items, confidently leveraging discounts from a variety of retailers. But when it comes to buying a vehicle during the holiday weekend, Capital One Auto Finance found that consumers aren’t as confident as they are when purchasing towels and televisions. Based on a […] [Read More]

When finance companies had an app for that, they scored better on the J.D. Power 2018 U.S. Consumer Financing Satisfaction Study. According to J.D. Power, a well-designed mobile app has become one of the most critical drivers of customer satisfaction with auto finance companies as a growing numbers of customers are interacting with their finance […] [Read More]

Off Lease Only — among the Top 100 independent dealers highlighted this past summer in Auto Remarketing — is making its inventory of more than 6,500 vehicles easier to find in seven new online markets. Now customers who search for a specific vehicle via Cars.com will have Off Lease Only vehicles automatically pop up in […] [Read More]

A company with its roots in the buy-here, pay-here space is continuing to expand an artificial intelligence-powered financial services platform serving Hispanic consumers. Tricolor recently announced an exclusive agreement with Phenx Machine Learning Technologies. In early testing, Tricolor’s newly AI-enabled algorithm demonstrated enhanced underwriting accuracy and the ability to rapidly scale to score massive amounts […] [Read More]

Auto finance defaults rose for just the second time this year in October. But the 3-basis point rise is only a fraction of the largest uptick analysts from S&P Dow Jones Indices and Experian have seen during the past 36 months. Data through October for the S&P/Experian Consumer Credit Default Indices showed the auto-finance reading […] [Read More]

The International Automotive Remarketers Alliance had a golf outing planned for its 2018 IARA Summer Roundtable in August, and decided to use the event to honor Ken Osborn, the late general manager of ADESA Dallas who passed away early this year, and dedicate the net proceeds in his memory. Less than two months later, that […] [Read More]

XLerate Group Auctions has made two moves that the company’s chief executive says help the auction group “continue leading independent auctions beyond their physical lanes.” XLerate promoted Kelly McAllister to serve as executive director of digital strategy, while also hiring a digital manager of remote markets. Named to that position is Keith Fetz, who most recently […] [Read More]

UPDATED: Sixth paragraph corrected for clarity.  Jim Hallett talked about a lot more than just TradeRev during KAR Auction Services’ recent earnings call. During the third-quarter 2018 report discussed on Nov. 7, the KAR chairman and chief executive covered the company’s 11-percent third-quarter 2018 revenue increase, the proposed spin-off of its Insurance Auto Auctions (IAA) business, the […] [Read More]

AutoTec has added a new provider to its AuctionACCESS floor plan platform. The company announced earlier this month that XL Funding has been integrated into the platform, which gives XL Funding the ability to automatically send updated credit availability and flooring request messages to auctions that subscribe to AuctionACCESS. “With this integration, AuctionACCESS is now […] [Read More]

Overall used-car retail sales were up slightly more than 5 percent year-over-year in the third quarter, with franchised dealers, in particular, increasing sales by 2.37 percent, according to a report from Edmunds. But certified pre-owned sales in Q3 dipped modestly (1.20 percent) from the year-ago period. These were just some of the data points shared […] [Read More]