Carvana has grown its Oklahoma market presence with its latest market launch in the growing city of Tulsa. “Tulsa has a metro population approaching 1 million people, yet maintains a warm and welcoming local culture,” Carvana founder and chief executive officer Ernie Garcia said in a news release. The online used-vehicle retailer announced Wednesday that […] [Read More]

Prospective students will have the opportunity to obtain a two-year, college degree in Subaru automotive technology through a new Subaru U backed program that's been created to address a growing demand for Subaru automotive technicians nationwide. Subaru of America announced Wednesday that, this fall, the first U.S. degree in Subaru automotive technology will be offered in […] [Read More]

Bankruptcy court activity certainly intensified this summer, potentially creating a large pool of potential customers for buy-here, pay-here dealerships. According to data provided by Epiq Systems, the American Bankruptcy Institute indicated that total U.S. filings increased 10 percent in August compared to July. Officials reported total filings came in at 68,499 in August, up from […] [Read More]

The Consumer Financial Protection Bureau concentrated the auto-finance portion of its latest supervisory highlights on two of the most complicated matters when someone needs credit to acquire a vehicle — repossession and the application of insurance proceeds. Before deploying a repossession agent to find and take back a vehicle, the CFPB acknowledged that many finance […] [Read More]

With powerful Hurricane Florence taking a wobbling route toward the Southeast, experts are already considering possible damages — especially to vehicles — in light of the catastrophes created by Hurricanes Harvey and Irma in Texas and Florida a year ago. The update distributed by the National Hurricane Center late on Wednesday showed how the Carolinas, Virginia […] [Read More]

Dealers are looking for bargains in the auction lanes just like potential buyers are when they scour store websites or walk rows of inventory. As a result, this week’s Market Insights report from Black Book detailed the continued strength currently on display in the wholesale market, with a handful of cars showing increases in early […] [Read More]

Rather than rowing the technology boat alone, leading automotive service providers are continuing to collaborate as evident by this week’s development involving CDK Global, AutoFi and Equifax. CDK Global announced that AutoFi has agreed to consume digital retailing application programming interfaces (APIs) from the Fortellis Automotive Commerce Exchange platform. The company also confirmed that Equifax, […] [Read More]

Regional Acceptance Corp. (RAC) and Dealertrack Accelerated Title this week spelled out a pair of reasons why they’re now working together to create efficiencies in their payoff and title release process with dealers accepting vehicle in on trade. RAC, a finance company and a subsidiary of BB&T Corp. specializing in sub-prime automotive financing and prime-to-near-prime […] [Read More]

The auto-finance industry passed another milestone as Equifax determined current portfolios collectively now exceed $1.25 trillion. However, subprime paper isn’t pushing the industry-wide figure higher as much as volume within that segment did a year ago. To get to the $1.27 trillion overall figure reported as of May, Equifax indicated dealerships and finance companies generated […] [Read More]

Dealers working with Dominion Dealer Solutions’ Dealer Specialties no longer have to upload inventory to Facebook Marketplace manually. A new agreement with Facebook now allows dealers to list their inventory via an automated syndication feature. Dominion Dealers Solutions announced Wednesday that its Dealer Specialties portfolio company has entered an inventory syndication partnership with Facebook to enable dealers to automatically upload […] [Read More]