If contract holders already were 30 days behind on their installment payment when Halloween arrived, they now might be up for repossession, especially in the 20 states that Experian identified as having a 30-day delinquency rate above 2 percent at the end of the third quarter. According to Experian’s State of the Automotive Finance Market […] [Read More]

In an age where so much communication now occurs via email or an even faster text message, a hand-delivered letter from an industry association quickly generated a phone call from the new director of the Consumer Financial Protection Bureau. That hand-delivered letter from the National Association of Federally Insured Credit Unions on Tuesday prompted new […] [Read More]

TransUnion’s 2019 consumer credit forecast includes a projected rise in subprime financing as a part of all of auto financing originated next year.   However, the predicted rise still is expected to come in below the volume of subprime financing TransUnion spotted back in 2007 before the Great Recession occurred. Analysts shared on Wednesday that […] [Read More]

In this episode, recorded on site at Used Car Week in Scottsdale, Ariz., Joe talks with Jim Williams, the senior vice president of logistics for Cox Automotive Inventory Solutions. They chat about some of the opportunity for logistics and transportation companies in the mobility space and other avenues for innovation. Plus, how the transport and […] [Read More]

Carvana has entered its 83rd market, and it’s one that arguably is as ripe for ecommerce ventures as any. The online car retailer said Tuesday it has expanded into the San Francisco and San Jose, Calif., markets, giving Carvana a presence in the Bay Area and Silicon Valley.   This move marks Carvana’s seventh market […] [Read More]

The AutoSource group of branded title vehicle dealerships announced its new chief executive officer late last week. The company’s board of directors named former Santander Consumer, QCSA Direct and ADESA Impact executive Bradley Walsh to the CEO post, a move that was effective Oct. 15. “It has been a tremendous honor to serve as founder […] [Read More]

HyreCar and Sansone Jr.’s 66 Automall are collaborating to help consumers with soft credit histories who are looking to drive for programs such as Uber and Lyft. On Tuesday, HyreCar, the carsharing marketplace for ridesharing, announced that it has launched a free credit repair program for new rideshare drivers in New Jersey and Pennsylvania in […] [Read More]

The newest installment of the Market Insights Report from Black Book indicated how December is turning into a joyous time so far for both consignors and dealers. The latest wholesale price data and anecdotes from sale days showed that used-car managers are finding more affordable vehicles to fill their inventories while consignors are fetching satisfactory […] [Read More]

More details arrived on Tuesday from KAR Auction Services with regard to its presence in the repossession and recovery spaces. According to a news release, KAR announced a consolidated management team for its software as a service businesses Recovery Database Network (RDN) and recently acquired Reno, Nev.-based Clearplan. Under the new management structure, all RDN […] [Read More]

Advance Auto Parts recently finished an update of its online resources in an effort to help independent dealerships and buy-here, pay-here stores that have their own service drive or complete some reconditioning themselves. Advance Auto Parts completed the nationwide rollout of its MyAdvance website, an interactive, easy-to–use, mobile-friendly platform that aimed at simplifying the way […] [Read More]