While experts consider rising interest rates impacting paper currently entering portfolios, S&P Global Ratings highlighted that collateral performance for the U.S. auto loan asset-backed securities (ABS) market improved in August on a year-over-year basis. In both the prime and subprime sectors, analysts found that annualized losses declined, delinquencies inched downward and recoveries increased from their […] [Read More]

A company that specializes in catering to customers who are low-to-moderate income individuals with soft credit histories now has the technological horsepower constructed by SpringboardAuto.com. Oportun, a technology-powered community development financial institution (CDFI), announced on Tuesday it has acquired the intellectual property and financing platform of SpringboardAuto.com, a platform designed to be a mobile-friendly, auto […] [Read More]

Sagent Lending Technologies, a joint venture between Fiserv and Warburg Pincus that was previously known as Fiserv Lending Solutions, announced last week that its VehicleLinq auto account servicing platform has been integrated into AutoIMS. AutoIMS is a technology service provider for the vehicle remarketing industry, and its platform connects commercial consignors, auctions and third-party providers.  The […] [Read More]

Scaling new technologies in the auto industry, including relatively new entrants like vehicle subscription services, can be complex. With apologies to “Field of Dreams,” you can’t just build it and hope scalability will come. Vince Zappa would know. He’s the president of Clutch Technologies, a software platform that facilitates vehicles subscriptions. Clutch has gone from […] [Read More]

With pumpkins permeating everything from lattes to yard décor, the appeal of summertime vehicles, especially sporty cars, is softening. This week’s edition of Black Book Market Insights showed the premium sporty car segment experienced the biggest drop, sliding by 0.53 percent or $209. Reviewing overall car segment values, editors found their volume-weighted information represented a […] [Read More]

Manheim says it will have invested more than $100 million in its digital platforms, through upgrades that started at the beginning of this year and will continue through 2019.  This comes amid a growing push of online wholesale sales, both at Manheim and elsewhere in the auction business. At Manheim, specifically, in the first half […] [Read More]

Dealers now have a new device to sell in the used-vehicle retail sales department; and perhaps in the parts department or service drive, too. Automatic, a SiriusXM company that can bring the power of connectivity to almost any vehicle on the road, on Tuesday announced the launch of the Automatic Dealer Program, an all-new service […] [Read More]

They say everything is bigger in Texas. And now Carvana’s presence in the Lone Star State is, too. On Tuesday, Carvana launched its online retail platform for used vehicles in Beaumont, Texas. Now with a location along the heart of the Gulf Coast, Carvana now offers as-soon-as-next-day vehicle delivery in six Texas markets and 80 […] [Read More]

America’s Car-Mart expanded its buy-here, pay-here store footprint this week. The chain announced the opening of two new dealerships located in Montgomery, Ala., and Bixby, Okla. The expansion brings the company’s dealership count to 143 with four new dealership openings occurring during its 2019 fiscal year. Car-Mart indicated the Montgomery dealership will be managed by […] [Read More]

With the National Alliance of Buy-Here, Pay-Here Dealers (NABD) hosting its Buy-Here, Pay-Here Subprime Conference with the National Independent Automobile Dealers Association this week in Las Vegas, two GPS providers rolled out enhancements to their suite of tools. Spireon introduced GoldStar Connect, a full-featured connected car mobile application designed to give BHPH dealers and subprime […] [Read More]