Differences in the execution of the digital application process has contributed to a significant performance gap between top and bottom performing lenders, says J.D. Power’s latest U.S. Consumer Financing Satisfaction Study. The study measures overall customer satisfaction in the following categories: billing and payment process; onboarding process; phone contact; and website. When it comes to the […] [Read More]

Used sales were down by about 3 percent from last year’s performance in the third quarter. According to the Edmunds "Q3 2017 Used Vehicle Market Report" released earlier this week, the drop was caused by a slowdown in used-vehicle sales in Texas and Florida due to recent hurricanes. In Q3, there were a total of 9.36 […] [Read More]

The Enterprise Rent-A-Car Foundation announced a $30 million project donation to The Nature Conservancy on Monday. The company’s donation will be spread across five-years and be used for a project designed to help protect and preserve four major rivers and watersheds throughout North America and Europe, including the Mississippi River and Colorado River. “My family and our company […] [Read More]

Auction Edge announced Tuesday it will merge its EDGE Pipeline product with EDGE Lookout to provide independent auctions with a seamless web platform in December. The integration will include enhancements designed to bring less friction and more accessibility on all types of devices. In addition to being responsive to any screen size, key updates to […] [Read More]

LotLinx announced Tuesday that along with recently expanding its offices in the historic Downtown Chicago Loop, it has named Bob Sherman vice president of enterprise business development and Kim De Palma VP of enterprise partner development. The company said the recent expansion will allow it to accommodate its fast-growing team. These appointments follow the addition […] [Read More]

Announced today, Integrated Auction Solutions’ (IAS) marketplaces are now compatible with Autoniq’s appraisal software. The full integration is for both iOS and Android devices. “This integration provides our customers the added value of Autoniq’s appraisal software with the AWG Simulcast suite all in one place,”  Peter Levy, vice president of IAS, said. The company also […] [Read More]

The leadership at Recovery Industry Services Co. (RISC) heard panel discussions and networking dialogue from industry participants during Used Car Week about the importance of compliance for third-party vendors. The situation reinforced why RISC rolled out its latest offering on Tuesday. RISC’s Lot Inspection Service includes current reports on more than 1,500 recovery companies that […] [Read More]

One of the benefits of Used Car Week is the networking that happens among auto finance service providers. Some of the fruit of that ongoing networking between two of Used Car Week’s staunchest supporters ripened on Monday. Digital Recognition Network (DRN) and Intellaegis, which does business as masterQueue, announced that DRN’s vehicle location data has […] [Read More]

Despite popular belief, due to a tight supply of high demand late-model used-cars, not all vehicles that pass the 100,000-mile mark begin to dramatically drop in value. That's according to recent data from Edmunds. Similar to the rate of depreciation that occurs between 50,000 and 100,000 miles, higher-mileage vehicles’ values are declining only incrementally between 100,000 […] [Read More]

Auction Management Solutions (AMS) has added Richmond Auto Auction to its list of partners for business development consulting. The addition brings the AMS client list to 18 total locations. After launching in 1967 as Motley’s Auctions in a Chester, Va., dairy barn by Dick and Pokey Motley, Richmond Auto Auction is now run by second generation […] [Read More]