The deceleration of auto-finance origination stopped in this first quarter, according to TransUnion’s newest Industry Insights Report released earlier this week. But the subprime segment didn’t trigger the change. After six consecutive year-over-year declines beginning in third quarter of 2016, analysts found that auto origination volume turned positive in Q1 of this year. Because originations […] [Read More]

S&P Global Ratings recently offered more analysis as to how it examines subprime auto loan asset-backed securities (ABS) issuers in light of what the firm described as an increasingly noticeable trend. The firm explained that certain U.S. subprime auto loan asset-backed securities (ABS) issuers are reporting more losses later in their transactions' lives than in […] [Read More]

On Thursday, Credit Acceptance Corp. announced the completion of a $398.3 million asset-backed non-recourse secured financing. Pursuant to this transaction, the subprime auto finance company said it contributed installment contracts of a net book value of approximately $500.1 million to a wholly-owned special purpose entity that will transfer the paper to a trust, which will […] [Read More]

The c-level executive team at defi SOLUTIONS now has grown by three members so far this year. The latest addition is Jason Zubrick as chief technology officer. Zubrick comes to defi SOLUTIONS with nearly 20 years’ software architecture experience, most recently at GameStop where he worked for 10 years. The company highlighted Zubrick will be […] [Read More]

Amid the various expectations held by consumers today, dealers can now access a new suite of communications tools that are created to help them work more efficiently and improve car owners' service experience. Dominion Dealer Solutions has introduced an enhanced version of its VUE DMS that is fitted with a selection of newly built-in communications features. This announcement comes just […] [Read More]

Through July, auction volume of late-model vehicles is up 4.2 percent from where it was after seven months of 2017. That’s according to the latest Guidelines report from J.D. Power Valuation Services, which defines late-model, in this case, to be vehicles up to 5 years in age. And the increase in that slice of auction […] [Read More]

Copart has opened a new South Carolina location on almost 100 acres of land in the city of Spartanburg. The company announced Thursday that its new Spartanburg auction is located at 1921 Nazareth Church Road. This news comes just a few months after the company made an announcement in June that it has opened a new North […] [Read More]

ADESA has named a new auction general manager for its ADESA Phoenix location, who brings 25 years of auction experience to his new role. The company announced Thursday that it has chosen Rod Davis from ADESA Brasher’s to head up its Phoenix-area auction located in Chandler, Ariz. Davis, who most recently served as ADESA Brasher’s assistant GM, has been an […] [Read More]

The polar opposite reaction to a one-vote margin of passage within the Senate Banking Committee reinforced why the nomination of Kathy Kraninger by President Trump to be the next director of the Consumer Financial Protection Bureau appears to be so controversial. Committee members approved by a vote of 13-12 on Thursday morning to forge ahead […] [Read More]

Vancouver-based OpenRoad Auto Group — comprised of 23 stores and 19 brands — has had a busy past year. The dealer group expanded into the U.S. for the first time with the acquisition of a Bentley, Rolls Royce and Lamborghini store in Bellevue, Wash., south of Seattle. And the dealer group added the McLaren nameplate, […] [Read More]