Private equity firms continue to see auto financing as an excellent option to leverage. In recent weeks, Bain Capital Ventures injected $55 million into defi SOLUTIONS, and Fair secured a round of strategic equity funding that is led by Siemens-backed next47 global venture fund and also includes BMW, CreditEase FinTech Investment Fund, Millennium Technology Value Partners, […] [Read More]

The National Independent Automobile Dealers Association announced Tuesday that Autosoft has been added to its growing list of Bronze-level National Corporate Partners. NIADA said members can now take advantage of special pricing to gain access to Autosoft DMS. Autosoft offers both a sales and F&I module with inventory management as well as a full DMS option, […] [Read More]

Credit unions continue to make significant strides in booking retail installment sales contracts and vehicle leases. CU Direct and GrooveCar’s CU Xpress Lease recently highlighted just how much success they enjoyed in 2017. In fact at CU Direct, 2017 represented a record-breaking year. Credit unions funded 1.8 million contracts through CU Direct’s Lending 360 and CUDL […] [Read More]

GWC Warranty, a provider of used-vehicle service contracts sold through dealers, recently received two awards recognizing it as a top employer both nationally and locally in the greater Wilkes-Barre area of northeastern Pennsylvania. First, GWC Warranty was recognized nationally by the National Association of Business Resources as one of the 101 Best and Brightest Companies […] [Read More]

Cars.com said Wednesday it has agreed to purchase Dealer Inspire and Launch Digital Marketing, which are privately held companies providing digital solutions to dealers — including digital retailing, among many other services.   The deal is worth $165 million upon closing plus “additional consideration based on future performance,” Cars.com said in a news release. Those […] [Read More]

Leveraging the mobile phone is a must because a growing number of consumers are accustomed to being able to shop for just about every and anything thing online, says Carvoy co-founder and chief executive officer Daniel Yuabov. “There’s a study that actually shows that more people have a phone versus a computer, and if we were to go […] [Read More]

Just like that four-cylinder engine in a 2017 model is probably much more efficient and robust than the same level power plant in a vehicle 10 years older, Asbury Automotive Group is anticipating an ongoing software upgrade will rev up its used-vehicle department to a much higher performance than what the dealer group experienced to […] [Read More]

There is, perhaps, no better illustration of the “with great risk, comes great reward” concept than buy-here, pay-here. However, the advent of automated billing systems has decreased the risks associated with this market while improving cash flow and profits for these dealerships. In short, these systems offer a disciplined approach to billing and collections, tasks […] [Read More]

While numbers remained flat throughout the year for most brands, among non-luxury dealers, both domestic and imported, Lincoln saw the largest share-of-visit increase year-over-year (plus 2.25 percent). This is according to The Year in Location: 2017, Auto Report from PlaceIQ results released Tuesday. Luxury brand BMW (plus 3.9 percent) saw the largest share-of-visit increase year-over-year, followed by Acura […] [Read More]

Under an agreement reached with their respective captive finance arms, Ally’s SmartAuction is listing the off-lease vehicles of Nissan and Infiniti. The agreement between SmartAuction and the two captives (Nissan Motor Acceptance Corp. and Infiniti Financial Services) was announced Tuesday. The off-lease cars are listed on SmartAuction after first being offered to Nissan and Infiniti […] [Read More]