Automakers have their captive finance companies as a preferred option to facilitate leases and retail installment contracts. And at least one online vehicle retailer is trying to create a similar scenario. On Tuesday, Vroom announced a preferred lending and strategic relationship with Chase. In addition to a simplified financing experience, the company explained this innovative […] [Read More]

The leader of the Consumer Financial Protection Bureau discussed a variety of compliance topics with the National Independent Automobile Dealers Association. Organizers called it an “unprecedented appearance” by CFPB director Kathy Kraninger that highlighted Tuesday’s regulatory briefings at NIADA’s National Policy Conference. According to a news release, Kraninger was joined on Tuesday’s agenda by deputy […] [Read More]

On Tuesday, PassTime rolled out its latest GPS solution for subprime auto finance companies and buy-here, pay-here dealers; a tool branded as Encore. PassTime highlighted that Encore can deliver the performance, features and extensive battery life demanded by the asset protection industry in an “incredibly” small size. Eliminating the need to cut vehicle wires or the […] [Read More]

Manheim says its new arrangement with Sirius XM, announced on Wednesday, makes activation easier for dealers and demonstrates the accessibility and benefits of SiriusXM in the pre-owned vehicles they sell. At no extra cost, dealers purchasing SiriusXM-equipped vehicles from any Manheim U.S. location can now take delivery of vehicles with SiriusXM already activated and working. […] [Read More]

"Turning vehicles into moving theme parks," reads the homepage of the holoride website. Nils Wollny, co-founder and chief executive officer of the company that provides in-vehicle media experiences, explains more about this VR-based vision of the company and why in-vehicle entertainment has become important for passengers — and the industry, itself.  Hear more in the […] [Read More]

Autumn officially arrived on Monday, and perhaps dealers might start to see wholesale prices cooling in the lanes, too, if the latest Black Book Market Insights report is any indication. Analysts spotted overall price decreases last week for both cars and trucks at greater rates than the previous four-week average. Along with fall’s arrival, Black Book […] [Read More]

E-commerce platform Carvana has a strong presence in Florida. That presence became even stronger on Tuesday. Carvana has launched as-soon-as-next-day delivery to Deltona, Gainesville, Ocala, Palm Bay and Port St. Lucie area residents. The launch in those new locations means Carvana now offers that service in 12 Florida markets, and its total number of U.S. […] [Read More]

The National Independent Automobile Dealers Association and Cherokee Media Group possess many similar characteristics, with one of the most important attributes being the goal of helping dealerships of all sizes prosper. It’s also part of the reason why the two organizations closely collaborate during Used Car Week. “It’s always important anytime an industry can bring […] [Read More]

More trucks and SUVs moved down the lanes in August, and KAR Auction Services chief economist Tom Kontos detailed how that change in volume mix impacted wholesale prices. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, wholesale used-vehicle prices in August averaged $11,244, which was 1.8% lower compared […] [Read More]

The noticeable upturn in defaults finance companies might be used to seeing from July into August unfolded again this year, according to the S&P/Experian Consumer Credit Default Indices. Data through August from S&P Dow Jones Indices and Experian showed the auto loan default rate climbed 9 basis points to 0.98%, mimicking a track that analysts […] [Read More]