Just ahead of the American Financial Services Association’s Vehicle Finance Conference, Allied Solutions announced the restructuring of its claims and recovery product, REPOPlus & Track. The provider of insurance, lending and marketing products to financial institutions in the U.S. for more than 35 years, explained what’s new with REPOPlus & Track on Monday. In addition to […] [Read More]

IHS Markit is leveraging its scale in the economic and technological worlds to help banks and finance companies navigate significant accounting changes coming within the next year. The company announced the launch of its economic and financial scenario solution designed to help banks comply with the Current Excepted Credit Loss (CECL) estimation required under the […] [Read More]

Funds to help fintech firms in Europe arrived on Monday. Fintech business lender MarketInvoice announced it has raised 26 million euros in new equity funding. This Series-B funding round was led by Barclays and fintech fund Santander InnoVentures with significant participation from European venture fund Northzone, an existing investor in the company. Technology credit fund […] [Read More]

We are getting closer to becoming a one-price society. Why? Because people want things automated. Rick Ricart believes that, but the president of  Ricart Automotive Group in Columbus, Ohio, also feels that if buyers want automated and fast transactions, then those buyers give up negotiation. “That’s what the trade-off is,” said Ricart, whose grandfather started […] [Read More]

In 2016, when Ricart Automotive sold 8,000-plus used vehicles, Rick Ricart figured: “We really don’t need to sell more used cars; we need to do a better job with the number we’re selling” and gross profits. But when the dealership group sold virtually the same number of used vehicles in 2017, Ricart concluded that those […] [Read More]

Thousands of viewers in person and watching on television saw an exciting NCAA football game as the Tulane Green Wave defeated the Louisiana-Lafayette Ragin’ Cajuns, 41-24, in the AutoNation Cure Bowl at Camping World Stadium in Orlando this past Dec. 15. But for automotive retailer AutoNation, the game served as great publicity. Sports fans saw […] [Read More]

There are lots of opportunities for innovation in the used-car space for dealers. In fact, some may say it is a hotbed for new ideas.  “I think a lot of the most exciting trends in automotive buying are going to be led by used-car retail,” Aaron Krane, the chief executive of Drive Motors, which develops online […] [Read More]

A walk through the customer-facing side of the EchoPark Automotive store in Charlotte, N.C., has the feel of a cafe, not a car dealership. The employee work area, separated from the consumer-facing front, has the trappings of a young, tech-leaning startup. But the innovation of this store and its fellow EchoPark locations go well beyond […] [Read More]

Consumers want a car-purchase process that is seamless, streamlined and limits their in-dealership transaction time to an hour or less. That means allowing consumers to compare interest rates, electronically sign credit applications and other documents and shop for finance and insurance products all on a dealership’s website before stepping foot into the dealership. OK, so […] [Read More]

As a master impressionist and a man of many characters from his “Saturday Night Live” days and beyond, Dana Carvey, one of the keynote speakers at NADA Show 2019, has had to wear many hats, so to speak. So too does the franchised car dealer. Just as Carvey’s repertoire has ranged from characters like “Garth […] [Read More]