So you have heard over the years that independent dealers cannot use the cash method of accounting and must use the accrual method, which is correct. You have been told about the benefits of a related finance company and how having one can mitigate much of the tax due to the revenue recognition under the […] [Read More]

Alliance Inspection Management (AiM) recently launched AiMCertify.com for vehicle buyers and sellers. AiMCertify.com offers tiered inspection solutions — starting as low as $129 — for used vehicle shoppers and sellers through four product offerings: AiM Preferred, AiM Plus, AiM Premier and AiM Commercial. Each package includes: —A 150-point inspection —Bumper-to-bumper interior and exterior evaluation —A […] [Read More]

After bottoming out in September, Swapalease.com noticed a rebound in vehicle lease transfer approvals in October. The site reported that vehicle lease credit applicants registered a 55.6 percent approval rate for October. The lease credit approval rate improved over previous month’s rate of just 47.6 percent, which represented the lowest percentage of approval so far […] [Read More]

Continuing a cyclical pattern S&P and Experian analysts have seen for nearly a decade, the auto finance default rate moved higher in October; and actually to the highest level in almost three years. According to the auto finance component of the monthly report from S&P Dow Jones Indices and Experian, October defaults rose 6 basis […] [Read More]

Thanksgiving has always been one of my favorite holidays. A uniquely American opportunity to gather with family, share favorite recipes, and reflect upon all the blessings in your life is a blessing in itself. But this year, I suspect many dealers will experience indigestion around the Thanksgiving table NOT due entirely to green bean casserole. […] [Read More]

Volkswagen Group Canada recently announced that Daniel Weissland will come aboard as president and chief executive officer effective Dec. 1. Weissland most recently served as Audi Canada president and succeeds Maria Stenstroem, who will return to Germany, according to VW Canada. Stenstroem was named the head of Volkswagen Group Canada in 2013 and has been […] [Read More]

Dilawri Group of Companies recently announced it has added one of 64 BMW Newmarket dealerships to its portfolio. The BMW Newmarket location, which represents the fourth BMW dealership for the group, was recently renovated to expand both the showroom and service department, according to Dilawri. “With the addition of BMW Newmarket, we are proud to introduce […] [Read More]

Prior to Used Car Week, we recorded an intervew with a special guest: Ron Smith, the founder of Auto Remarketing and its parent company, S&A Cherokee.  And during Used Car Week, Ron added another title to the mantle: 2017 Auto Remarketing Lifetime Achievement Award, which will now be known as the Ron Smith Lifetime Achievement Award.  Check out […] [Read More]

IntelliChoice, Vincentric and U.S. News & World Report each recognized certified pre-owned program award winners during the Used Car Awards luncheon, sponsored by TradeRev.  The luncheon, which also recognized other dealer-level and industry awards, was held during Used Car Week in La Quinta, Calif., last week. Starting with IntelliChoice, Kia earned honors as the Best Popular Program […] [Read More]

While many Americans might be napping off that extra helping of turkey, car-shopping activity isn’t likely to hit the snooze button on Black Friday. New research from Cars.com indicates that 18 percent of car shoppers say they have more reason to visit dealerships that day. And nearly three-fourths of that crowd (74 percent) say it’s […] [Read More]