With average federal tax refunding averaging more than $2,800, Swapalease.com sees the trend being a part of its approval lift seen in March. Approvals for vehicle-lease transfer application on the site came in at 70.7%, which is up from the February rate of 65.9% as well as the reading from last March of 67.3%. Swapalease […] [Read More]

Depending on where your dealership is situated, if the greening grass and volume of pollen in your neighborhood already haven’t indicated spring is in full swing, perhaps the buzzing at your favorite wholesale auction should show it. This week’s Market Insights report from Black Book summarized the continued intensification of the spring market with lane […] [Read More]

Technology service provider AutoIMS says keys are a main reason for cost concerns and administrative burdens for its clients. That is why AutoIMS and High Tech Locksmiths have launched a new service that they say streamlines the key-ordering process for recovered vehicles entering the auction marketplace. The companies say the service will provide transparency to […] [Read More]

Manheim has invested $4.8 million in a new body shop and reconditioning center at its Manheim Orlando location. Manheim division vice president Alan Lang said the vision for the facility is to meet the growing needs of today’s dealerships and tomorrow’s mobility and fleet providers. In other auction news, Insurance Auto Auctions opened its fourth location in […] [Read More]

Repossession agents and other recovery industry professionals looking to sharpen their skip-training efforts have another resource on the horizon. Recovery Industry Services Co. (RISC), a provider of compliance education and training services, announced on Tuesday that it will be releasing an updated version of the Skip-Tracing Certification Course at the North American Repossessors Summit (NARS). […] [Read More]

The Auto Intel Council (AIC) welcomed its newest member this week. Joining the collection of leading companies and experts in the auto fintech space is Wells Fargo Preferred Capital. The AIC also includes Digital Recognition Network (DRN), IBM, KAR Auction Services, Maryann Keller & Associates and MBSi Corp. The Auto Intel Council is a private, […] [Read More]

Kroll Bond Rating Agency (KBRA) looked to calm concerns that tax refunds and other possible turbulence would trigger significant disturbances within the auto asset backed securities market. Neither of KBRA’s indexes tracking at prime and non-prime ABS shifted substantially, as severe delinquencies remained relatively stable. Securitized auto loan credit performance in March improved across virtually […] [Read More]

Dent Wizard International rebranded one of its divisions this week in an effort to sharpen its image with dealerships, finance companies and fleet operators. The provider of automotive reconditioning services and vehicle protection products introduced Evolution, Vehicle Protection by Dent Wizard, a branding of its F&I business unit. The company highlighted Evolution will become the […] [Read More]

Gubagoo, a “conversational commerce” company for auto dealerships and OEMs, launched its Virtual Retailing service in February, describing it as a digital retailing service for automotive dealerships that is built on messaging and live video interaction. But on Monday, the company announced it has “successfully launched” Virtual Retailing with U.S. dealerships. In a separate announcement on […] [Read More]

In the Used Vehicle Outlook report from Edmunds is a graph with Google Trends data showing relative search interest for certified pre-owned vehicles since 2013. While there have been ebbs and flows throughout the past six years, the general trend line has been a gradual climb in CPO relative search interest, according to the Google […] [Read More]