Cox Automotive economists are expecting approximately 2.7 million certified pre-owned vehicle sales in 2018, and if that comes to fruition, it will be the eighth straight year of record CPO sales. But the acceleration in certified sales is not what it has been in prior years amid what is a slowdown in growth on the non-luxury side of […] [Read More]

 iA Financial Group has wrapped up its purchase of Dealers Assurance Company and Southwest Reinsure Inc., a company collectively known as DAC. The deal to purchase the privately owned vehicle service contract company was first announced on Sept. 21. DAC builds and distributes extended warranties thorough a U.S. auto dealer network.  iA Financial, which is […] [Read More]

Edmunds expects approximately 3.1 million used-car sales this month, which would be up from the 2.7 million used-car sales in December. The seasonally adjusted annualized rate is expected to come in at 38.9 million, up from 38.7 million last month. That would be a strong start to what Cox Automotive chief economist Jonathan Smoke and […] [Read More]

As consumer perception changes about the vehicles’ capabilities and limitations, along with automakers pushing more models and options into the market, the volume of leased alternative-fuel vehicles is on the rise. Swapalease.com shared data from its own site on Wednesday as well as analysis from Bloomberg New Energy Finance to shed light on trends about hybrids […] [Read More]

Motorlease Corp. announced that it has promoted Jeffrey Perkins to the position of vice president of operations. Perkins advanced to leadership roles in the customer service department and dealer relationship management area after joining Motorlease to serve in an administrative capacity in 2002, the company said. In 2005, he led Motorlease’s purchasing and remarketing efforts and […] [Read More]

EVOX Images announced Wednesday that it has released the latest version of its RelayCars app after adding major updates that provide shoppers with more detail and vehicle research options during their virtual showroom tour experience.  The app lets users explore hundreds of make and models’ interiors and exteriors that have been on the market since […] [Read More]

DriveTime might be still searching for a new chief executive officer, but the retailer that specializes in working with consumers with soft credit now has more resources for originations. Ally Financial on Wednesday announced that it has entered into an agreement to purchase retail contracts from DriveTime. Under the agreement, Ally will make up to […] [Read More]

Along with a relationship with Autonum Capital, Otolane announced that it has partnered with KM Plus to provide additional protection for buyers and sellers online with the release of TotalCare, a new 30-day wholesale protection plan that will cover up to $1,000 in repairs for undisclosed issues. At a cost of $29, any vehicle purchased through […] [Read More]

Digital Recognition Network (DRN) is finding plenty of work for repossession agents to do, and it’s resulting in record recoveries for auto finance companies. DRN highlighted on Tuesday that its active hotlist hit an all-time high of 360,000 license plate recognition (LPR) assignments. The company also reported that in 2017 DRN’s providers recovered collateral totaling […] [Read More]

Boosting its workforce worked out nicely for CRIF Select. CRIF Select, a division of CRIF Lending Solutions and provider of indirect auto finance partner programs, announced on Wednesday that the company surpassed $3.7 billion in funded paper volume for 2017. Executives highlighted the milestone is the culmination of a year where CRIF Select renewed its […] [Read More]