Demand for luxury models didn’t impact lease-transfer applications in December as much as the analyst team at Swapalease.com typically sees during the closing month of a year. Swapalease.com on Wednesday reported vehicle-lease credit applicants registered a 62.0 percent approval rate for December. The reading decreased slightly from November’s rate of 67.5 percent. Site analysts explained […] [Read More]

Recovery professionals often see the greatest saturation of 60-day delinquencies within states near or along the Gulf of Mexico. While a pair of those states constituted two of the top three as tracked by Experian Automotive, the state that registered the highest 60-day delinquency rate as of the third quarter actually sits against the Chesapeake […] [Read More]

Morgan Auto Group announced Monday that it has named Dan Like the regional director of its north Florida operations in Jacksonville and Gainesville. Like most recently served as general manager for six years at Morgan Auto Group’s Honda of Gainesville store. “I am so pleased that Dan Like will have this opportunity to grow his influence […] [Read More]

Consumers likely are not just shopping for their next vehicle with their mobile device. They’re probably going to be making installment contract payments with those devices, too, if they’re not doing so already. The Federal Reserve Bank of Boston recently released results of an elaborate study with multiple Federal Reserve Banks and other financial institutions […] [Read More]

CARite received an injection of funds to expand its leasing portfolio from a finance provider that has an understanding of what the company is trying to accomplish within the subprime market. On Wednesday, Crystal Financial announced the completion of a $45.0 million senior credit facility for CARite. Headquartered in Madison Heights, Mich., CARite sells and […] [Read More]

More industry consolidation came to light on Wednesday as Realtime Electronic Payments (REPAY) made another acquisition. The provider of advanced payment technology products and electronic transaction processing services for the consumer finance industry has acquired PayMaxx Pro, an electronic payments provider to the automotive industry. “This acquisition expands our footprint in the automotive industry and […] [Read More]

Mike Stanton, a longtime executive with what is now known as J.D. Power Valuation Services, is back with the National Automobile Dealers Association. NADA said Wednesday that Stanton has been named its senior vice president and chief operating officer. “I am excited to be back at NADA and have the opportunity to enhance existing relationships […] [Read More]

Reviver Auto, creator of the “RPlate” digital license plate, announced Wednesday that it has closed an $11.1 million funding round led by Australian-based ACK Group and made two additions to its board of directors, including Stephen Polk, former chairman of R.L. Polk and Carfax. The new funding, which includes participation from WRV and several strategic […] [Read More]

Hundreds of independently owned, non-chain auto auctions dot the U.S. landscape, each a unique business unto itself. As is the case in many industries, an individually owned auto auction often faces a different set of challenges than, say, a corporately owned business or chain of businesses. Keeping up with evolving and rapidly scaling technology on a […] [Read More]

In my more than 15 years in the auto industry, I’ve seen various ups and downs in the market as well as both wild optimism and doom and gloom. We’ve experienced record-breaking new-car sales the last few years, and as we dive deep into 2018, most dealers are optimistic that we’ll continue to enjoy strong […] [Read More]