It would appear that the post-hurricane recovery that drove wholesale used-car prices higher is no longer having that same impact. And though full-year figures are expected to climb, used-car retail sales softened a bit last month. But look for a used-car retail market that challenges the new-car market, amid heavy lease returns adding fuel to […] [Read More]

KAR Auction Services announced Thursday that in addition to its initial $225,000 contribution to City Life Wheels of Central Indiana to fund the new KAR Auction Services City Life Wheels Training Center, it will commit another $25,000 grant for the program next year. An Indianapolis-based non-profit, City Life Wheels teaches youth in its community basic […] [Read More]

DealerRater has introduced additional enhanced offerings as part of its new Connections product suite that is designed to create personal connections between dealerships’ top salespeople and ready-to-buy shoppers. First launched in September, DealerRater Connections allows dealerships to create dealer and employee profiles linked to their reviews shared across DealerRater’s strategic syndication partner sites. The new […] [Read More]

Even before the wrangling over who will lead the Consumer Financial Protection Bureau intensified earlier this week, Craig Nazzaro emphasized that the heavy compliance lifting done by auto finance companies still has plenty of value. Nazzaro, who is of counsel in the Atlanta office of Nelson Mullins Riley & Scarborough, made the point before a […] [Read More]

FICO is hosting a free webinar to sort through the details of an important accounting change that might be giving auto finance companies grief in meeting new standards that change how institutions account for expected credit losses. FICO experts plan to explain the Current Expected Credit Loss (CECL) requirements outlined by the Financial Accounting Standards […] [Read More]

At the home of CARPROOF’s new Product Lab at the Communitech Hub in Kitchener, Ontario, it has a wide array of neighbors, amid the exposed brick and converted factory feel.  There are massive, established names like General Motors, Thomson Reuters and Blackberry, small to midsize companies like CARPROOF, and startups just getting their feet wet. […] [Read More]

What was nurtured in the classroom is now ready for deployment to help your dealership service drive. This week, EFG Companies announced the launch of Driver’s Advocate, a mobile app representing the culmination of both the 2015 and 2016 Northwood University Innovator of the Year Award winning products. Driver’s Advocate was designed to foster greater […] [Read More]

TradeRev has announced the release of TradeRev 4.0, the most advanced version of its mobile app. The newly updated platform leverages data and predictive modeling to deploy new features including bid assist, which aims to make digital auctions more efficient by detecting and erasing unrealistic bids using data analytics and machine learning models. Additionally, as […] [Read More]

The potential pool of customers who just filed for bankruptcy and could be turning to buy-here, pay-here dealers to secure transportation ticked up again in November. According to data provided by Epiq Systems, the American Bankruptcy Institute indicated consumer bankruptcies increased slightly in November as the 57,302 reported filings were 2 percent more than the […] [Read More]

The evidence continues to mount showing how much auto finance companies are tightening their underwriting and slowing the volume of subprime paper they're adding to their portfolios. Experian Automotive reported on Thursday that the number of consumers outside prime (with a credit score of 600 or below) notably decreased during the third quarter, hitting the […] [Read More]