Ken Kertz summed up FICO’s 2019 U.S. Consumer Survey of Vehicle Finance Perceptions with a point relevant whether a finance company only has a footprint in a couple of states or builds its portfolio from originations nationwide. “The takeaway for lenders is it’s all about convenience. The less decisions people have to make, the better. […] [Read More]

The Federal Trade Commission recently offered six recommendations to dealerships and auto finance companies that might receive subpoenas and civil investigative demands (CIDs) as part of an investigation into potential law violations Burke Kappler, an attorney in the FTC’s Office of General Counsel, explained in a recent blog post that the regular subpoenas and CIDs […] [Read More]

After three years of holding its annual convention in partnership with Cherokee Media Group’s National Remarketing Conference during Used Car Week, the National Auto Auction Association will return to having its own standalone event this fall. NAAA is hosting its event Sept. 30 to Oct. 3 at the JW Marriott in Indianapolis. The association said […] [Read More]

Ron Smith decided to roll the dice in 2001. It wasn’t long after 9/11, and the aftermath of the attacks was having a big impact on the business travel industry. Hotels were facing cancellations, and many companies were averse to business travel at that point, Smith said.  So, Smith, the founder of Auto Remarketing and […] [Read More]

As Auto Remarketing continues to report on the wholesale remarketing strategy of commercial consignors, the story would be incomplete without the inclusion of credit unions. CU Direct said member auto-loan originations by the 1,100 credit unions using the CUDL auto lending platform, as an aggregate, have led the auto lending industry. (Author Disclaimer: I provide […] [Read More]

Jim Hallett has been with what is now called KAR Auction Services the better part of the past two-and-a-half decades. Hallett, who has been KAR’s chief executive since 2009, has had a front-row seat to the company’s evolution. And he sees the OPENLANE purchase in 2011 as having been an “inflection point” for KAR.  This […] [Read More]

Just like cream and sugar cuts the bite of strong coffee, KAR Auction Services chief economist Tom Kontos noticed wholesale price movements of cars versus trucks unfolded similarly in February to produce the overall reading. And the movements happened in part to what’s occurring “upstream” versus “downstream.” According to ADESA Analytical Services’ monthly analysis of […] [Read More]

Celebrating its 50th year in the consumer lending market, Carleton looked to enhance its suite of solutions this week. Following extensive market feedback and discussions with key partners, Carleton released CarCalcs, a comprehensive and integrated sales tax, registration and dealer fee application programming interface (API) to complement its CarletonCalcs solution.  The company reiterated CarCalcs was […] [Read More]

Two providers that finance managers might already know and use are now working together. StoneEagle F&I and F&I Express have agreed to integrate their solutions to provide dealers seamless access to the industry’s largest network of aftermarket providers, making it easier and simpler to present and sell value-added options to vehicle buyers. The companies explained […] [Read More]

Direct Auction Services detailed a major business restructuring on Thursday, announcing a trio of promotions in the process. Direct Auction Services now has separate leadership for its two major brands — Roadrunner Services and Direct Reconditioning — while also looking to broaden its staffing solutions. The three promotions include: — David Rush as president of […] [Read More]