Joe catches up with NextGear Capital's Randy Dohse at Used Car Week to talk about the B2B applications of fintech in automotive floorplan finance, how macro-economic trends impact the space, opportunities for growth at NextGear and more. The podcast discussion can be found below. Download and subscribe to the Auto Remarketing Podcast on iTunes or on Google Play.  You can also […] [Read More]

Black Book’s latest wholesale observations — both its Used Vehicle Retention Index for December as well as its Market Insights report recapping the opening week of 2019 — highlighted softening prices, reinforcing what one auction told editors that tax season might be “more of a myth than a reality.” Beginning first with the December Used […] [Read More]

Auto finance defaults ticked up slightly in November, but the rate still remained below 1 percent, according to the most recent data compiled by S&P Dow Jones Indices and Experian. The auto finance segment of the S&P/Experian Consumer Credit Default Indices increased 1 basis point to 0.93 percent, but the reading stayed below that 1-percent […] [Read More]

Buy-here, pay-here dealers who already delivered vehicles based on expected federal tax refunds likely let out a collective sigh of relief stemming from an announcement the Internal Revenue Service made late on Monday. Despite the government shutdown, the IRS confirmed that it will process tax returns beginning Jan. 28 and provide refunds to taxpayers as […] [Read More]

Gyms are packed in January; then half empty in February. Individuals struggle to achieve their goals, and so do organizations like buy-here, pay-here dealerships — sometimes for different reasons. For more than 30 years, Jim Jackson has worked as a performance coach to leaders, business owners and sports teams — both professional and college. He […] [Read More]

[Updated to correct timing of shift mentioned in first paragraph from Tuesday to Monday.] AutoNation chief operating officer Lance Iserman and chief technology officer Tom Conophy will be leaving the company effective Monday as part of an operational structure reorganization announced by the retailer, a restructuring that involves several executives departing the company and a change […] [Read More]

When it comes to repeat business for automotive makes and models, customer loyalty associated with the certified pre-owned vehicle market significantly outperforms those associated with traditional used-vehicle offerings. However, dealers who want to push the CPO product are challenged by a lack of consumer awareness. New data from J.D. Power shows that, on average, buyers […] [Read More]

The year 2018 ends more enthusiastically than predicted a year ago, with year-end SAAR echoing the 17 million units in 2017 — but industry economists say rising interest rates, increasingly higher new- and used-car transaction prices, tightening credit, and consumer loan defaults and delinquencies portend a rockier 2019. Tom Kontos, senior vice president and chief […] [Read More]

You might have read in my prior editorials that I don’t believe the current physical auction is the wave of the future. Counters and their inherent lines should be a thing of the past, with counters creating the “them and us” mentality. My view is that customer service representatives should be floating through all aspects […] [Read More]

DealerPolicy, LLC, a company in the emerging Insurtech sector, appointed former Cox Automotive executive Mike Burgiss as chief product officer, a newly created position. Burgiss brings more than two decades of product, innovation, and management experience across the automotive and technology industries, holding senior positions at Cox Automotive and Accenture. DealerPolicy stated that as vice president of […] [Read More]