The auto lease credit approval rate in September registered the lowest percentage seen this year, according to data from Swapalease.com. The approval rate fell to 47.6 percent following a relatively strong August, when the rate was 68.3 percent, according to Swapalease. Hurricanes Harvey and Irma have likely contributed to September's notably low rate. Last month, Swapalease.com saw […] [Read More]

The ServNet Auction Group has added another member: Metro Auto Auction Phoenix. The auction, which opened in 2007, is led by managing partner Tom McDermott and is part of the Berkshire-Hathaway Automotive Group. ServNet last added an auction in November 2016, when Houston Auto Auction joined the group. In October of last year, ServNet added […] [Read More]

Carvana has expanded further West with the launch of its new Las Vegas market, the company announced Wednesday. Las Vegas residents can now browse more than 7,000 vehicles on Carvana.com and receive free, as-soon-as-next-day vehicle delivery after making a purchase. “Las Vegas is a city built on hospitality, making visitors feel welcome 365 days a year,” […] [Read More]

We circle back to one of the most difficult challenges of the automotive business — repossessions — for the latest episode of the Auto Remarketing Podcast. Nick is joined by Cort DeHart, who is the corporate strategy manager with MBSi Corp. The conversation touches on how complicated repos can be and how the industry is […] [Read More]

While the agency director expressed his disappointment, dealerships and auto finance companies can breathe a big sigh of relief; Congress has stopped the Consumer Financial Protection Bureau’s arbitration rule. With Vice President Pence casting the deciding vote late on Tuesday night, a Congressional Review Act resolution gained approval in the evenly divided U.S. Senate, overturning […] [Read More]

Your customers now have another option to watch for activity associated with their credit file. On Tuesday, Used Car Week sponsor FactorTrust launched what’s being dubbed FactorTrust Credit Monitoring, a service that can observe activity within the FactorTrust credit file. The company explained this new service allows for monitoring of alternative credit activity and is […] [Read More]

U.S. News & World Report has released its list of the Best Used Cars for Teens, and three models from General Motors cracked the rankings.  The rankings can be a resource for parents in search of safe, dependable used-cars for their new drivers, the publication said.  “Just because you're looking for a used car for your teen […] [Read More]

There are a lot of things typical for autumn: leaves changing colors, the World Series and the air getting cooler (sort of).  This autumn, the pattern in used-car values is anything but typical.  Used vehicles continue to hold their values better than what’s expected for this time of year, according to Black Book, which said […] [Read More]

ACE Rent A Car, Advantage Rent-A-Car, Mercedes-Benz and Fox Rent A Car are the top ranking retailers for customer loyalty, according to this year’s Temkin Loyalty Index, which examines the loyalty of 10,000 U.S. consumers to 329 companies across 20 different industries. The three rental car companies and luxury automaker outpace retailers of all other […] [Read More]

CarStory, the automotive AI platform from Vast, announced Tuesday general availability of its CarStory Analytics for marketplaces, lenders, OEMs and software providers. CarStory Analytics powers the companies CarStory Market Reports, CarStory Insights, CarStory Leaderboard and CarStory Marketplace. "The market is rewarding companies that deliver answers, not just information," Vast chief executive officer John Price said […] [Read More]