RumbleOn, an e-commerce platform where both consumers and dealers can buy, sell, trade and finance pre-owned motorcycles and other powersport vehicles, announced Wednesday that it has closed on a secured floorplan line of credit for up to $25 million with Ally Bank. The company said the new credit line will be used to acquire pre-owned […] [Read More]

For this episode — our 50th — Nick takes a trip to the “back office” with Anne Holtzman, who is the senior vice president of claim and recovery at Allied Solutions. While Hurricanes Harvey and Irma happened several months ago, some auto finance companies — especially with collateral impacted by the storms — could not begin […] [Read More]

Just five years after selling its first used vehicle in Atlanta, Carvana has added an additional vehicle pickup option to complement its Car Vending Machines.  Carvana is now also offering vehicle pickup via Carvana Curbside, the company’s new smaller format purchase fulfillment concept. Following the success of an early iteration in Atlanta, the company announced Wednesday […] [Read More]

In this episode, Joe talks with Rod Buscher, founder and chief executive officer of Blinker, a peer-to-peer online auto app that allows consumers to use their smartphones to buy, list and finance vehicles. Buscher was also a founder of the John Elway Dealerships, where he worked in partnership with the Denver Broncos legend before the […] [Read More]

Kelley Blue Book has introduced the CPO Price Advisor, which is a new source for certified pre-owned vehicle pricing that has been added to its Price Advisor product suite. CPO Price Advisor pricing information is based on recent certified vehicle sales transactions and is adjusted for local market conditions and seasonal trends. The KBB CPO […] [Read More]

This week, both General Motors Financial and Nicholas Financial disclosed changes regarding the executives serving as chief financial officers. While Nicholas Financial also highlighted how its plans to enhance originations, a filing with the Securities and Exchange Commission showed GM Financial reported that Chris Choate will retire as CFO effective on April 2. The automaker’s […] [Read More]

Both LAUNCHER.SOLUTIONS and F&I Express each enhanced their offerings for dealerships and finance companies by adding more industry partners. LAUNCHER.SOLUTIONS, a technology provider specializing in subprime auto finance originations, recently announced that it has added Kelley Blue Book to its list of data providers to offer vehicle trade-in values to finance companies using Launcher’s appTRAKER […] [Read More]

Private equity money is flowing into all aspects of F&I, not just high-level technology involving originations, but also the potentially lucrative vehicle-service-contract segment. Southfield Capital recently announced an investment in APC Integrated Services Group, a provider of consumer marketing of vehicle service contracts on behalf of dealers, manufacturers and other partner channels. A news release […] [Read More]

Online auto lease concierge service Carlease has raised $3.5 million in an initial funding round led by venture capital firm Lightbank, along with a group of auto industry veterans that includes Mitch Golub, Kayne Grau and Justin Mahlik. Golub is the former president of Cars.com, while Grau (also a former Cars.com executive) and Mahlik are […] [Read More]

Oracle Data Cloud has chosen a total of nine Tier 3 auto marketing agencies to qualify for a new advanced data training program and receive an Oracle Data Cloud’s Auto Elite Data Marketer designation. The program is designed to help agencies use digital data to effectively allocate their marketing resources, the company said. Oracle’s selected […] [Read More]