Thanks to some zero-percent finance deals around the Thanksgiving holiday, the annual percentage rate on new-car financing decreased a bit from October to November, according to Edmunds. But the new-car APR is up more than a percentage point from November 2017 and nearly 2 points from where it was five years ago. Furthermore, Edmunds emphasizes […] [Read More]

The annual percentage rate on used-car financing in November went up more than a percentage point from a year ago, and the average amount financed climbed more than $500. That’s according to the latest auto finance data from Edmunds, as part of an analysis that mostly focused on the new-car side but also included year-over-year […] [Read More]

President Trump happily signed the new United States-Mexico-Canada Agreement (USMCA) on Friday; a pact that replaced the North American Free Trade Agreement (NAFTA). And a trio of Cox Automotive experts also shared an upbeat assessment of the actions that might eventually trickle down to auctions and dealerships as new models become used vehicles. “The USMCA […] [Read More]

The process for establishing Kathleen Kraninger as the next director of the Consumer Financial Protection Bureau took another sharply, politically divided step forward on Thursday as the Senate barely approved invoking cloture to end debate about her nomination. Composition of the 50-49 tally included Republicans constituting all approval votes and all Democrats and the Senate’s […] [Read More]

Two companies are collaborating for enhanced subprime underwriting at a lower cost. This week, LAUNCHER.SOLUTIONS, a technology provider specializing in subprime originations, announced a strategic integration partnership with VinAudit.com aimed at reducing costs incurred by subprime finance companies for vehicle history reports. Officials explained the full API integration with VinAudit.com in LAUNCHER.SOLUTION's appTRAKER Loan Origination […] [Read More]

The Jim Butler Auto Group wanted to know more about consumer appeal of digital vehicle subscription services. So the group that’s comprised of eight dealerships orchestrated a survey as it began to pilot its own subscription service. On Thursday, the Jim Butler Auto Group released findings from its 2018 Automotive Technology Survey. What perhaps pleased […] [Read More]

Franchised dealerships with Chevrolet, Buick, GMC and Cadillac stores in their groups now can leverage help from a pair of advertising agencies. Both Naked Lime and Dominion Dealer Solutions recently announced they have completed all requirements to participate in the digital advertising program under the GM Dealer Digital Solution. This program allows dealers the opportunity […] [Read More]

Now personnel at dealerships using AutoManager can say they’re not wasting time if a manager spots someone on Facebook. The dealer management software company recently announced that WebManager, its comprehensive vehicle marketing system, has integrated with Facebook Marketplace. This integration is accessible within the WebManager application and can allow a dealer to export the store’s entire […] [Read More]

This past spring, Cognosos landed a partnership with Columbus Fair Auto Auction (CFAA) to employ its inventory management platform that’s built to provide automotive operations an effective and affordable way to track vehicles across both large and multiple lots in real-time. Coinciding with Used Car Week 2018, Cognosos announced that it finalized another relationship within […] [Read More]

A question often asked is how auctions will adjust to an automotive industry where mobility ventures and digital sales are more commonplace.  Manheim is looking at that proactively, creating  a new leadership structure for its assurance and reconditioning group designed to better position the company as the industry grows further toward these types of ventures. The […] [Read More]