As Westlake Financial Services broadened its employee training program, the finance company also recently agreed to use Equifax’s dealer intelligence platform, TradeSight, to manage and monitor its dealer relationships. TradeSight can help finance companies analyze originations, current and future dealer partners and performance of the installment contracts booked through dealer partners. The tool works by […] [Read More]

FICO now has more than just a consumer credit score to offer auto finance companies during the origination process. Leveraging its deep analytic expertise coupled with advanced algorithms and the latest optimization technology, FICO recently highlighted its new automotive industry-specific loan origination solution can enable auto finance companies to evaluate millions of alternative offers instantly […] [Read More]

Scalability can be a challenge for any startup, and that certainly is evident in automotive, where the business of selling cars has a lot of moving parts — both metaphorically and within the vehicle itself. With $295 million in equity funding (as of mid-July), national vehicle delivery capabilities and a 2015 purchase that drove vehicle […] [Read More]

HomeNet Automotive recently announced that it has been approved by General Motors to join its in-Market Retail (iMR) Turnkey Vendor Program. Using their iMR funds, participating GM dealers can now receive co-op reimbursement for their purchase of HomeNet’s Inventory Online (IOL) Overdrive, the company said. “HomeNet is a proven leader in helping dealers save time […] [Read More]

TSI Auto Solutions recently announced the company has named a new director to lead its Dealer Solutions division. Chosen for the position is Geoff Helby, who most recently led the Canadian arm of ALG. As director of Dealer Solutions, Helby will be responsible for overseeing the strategic growth of TSI’s dealer solutions business, product training, client […] [Read More]

iSeeCars.com recently released the findings of its latest annual Car Color Preferences by Gender Study, which found that men's interest in yellow and orange vehicles has significantly increased this year. The study also found that men’s new preferred car color is yellow. Last year, orange ranked first among men. Women’s current favorite car color is teal. […] [Read More]

While sharing results from the first quarter of its 2018 fiscal year, America’s Car-Mart announced a major change in leadership will be coming at the end of the calendar year. Car-Mart said in a news release posted late on Thursday that current chief executive officer William “Hank” Henderson would be moving into a role as […] [Read More]

Colonnade Advisors offered quite a bullish forecast for the penetration level of vehicle service contract purchased by consumers that should make F&I managers and VSC providers smile now and seven years down the road. The boutique investment bank and registered broker dealer providing investment banking services to F&I firms and other financial services companies released […] [Read More]

Back to school means once again the approval rate for lease transfer applications is headed back down.  Swapalease.com reported vehicle lease credit applicants registered just a 54.3 percent approval rate for July, explaining the decline both on a sequential and year-over-year basis stemmed from in part because of college students leveraging the site in hopes of […] [Read More]

As what’s happened four out of the past five years, auto finance defaults made a slight uptick in July versus the previous month. The auto portion of the S&P/Experian Consumer Credit Default Indices released this week showed that defaults increased 4 basis points to come in at 0.86 percent. It would have been five consecutive […] [Read More]