The auto finance component of the S&P/Experian Consumer Credit Default Indices showed contract defaults improved in March both on a year-over-year and sequential basis. According to data released by S&P Dow Jones Indices and Experian, auto loan defaults came in at 1.00 percent, down 5 basis points from the previous month. In March of last […] [Read More]

Carleton, a provider of compliant financing calculation and document generation solutions, recently announced that it has successfully completed its 2016 SOC 2 compliance audit, conducted by Crowe Horwath. The company highlighted SOC 2 compliance has quickly become a hot topic in today's world of technology and cloud computing, as service organizations such as Carleton must […] [Read More]

Kia Motors America's certified pre-owned vehicle sales program achieved a record-high first quarter, having sold a total of 19,453 units. Along with several other automakers, last year was also a best-ever CPO year for Kia, selling a total of 76,224 units in 2016. "Kia's sales boost is reflective of the confidence that comes with buying a vehicle that has passed […] [Read More]

In its latest Quarterly Market Report, ALG showed a year-over-year comparison of March/April 36-month residual value forecasts. Of the 25 segments included in the report, only five had positive residual value changes from a year ago. And they were all mainstream utility segments (which, according to ALG, includes minivans). Asked why utilities have held onto […] [Read More]

Canadian used-car prices were up around 1 percent last month, despite the fact that many individual segments are seeing their values soften. The RVI Used Vehicle Price Index was up 0.9 percent month-over-month in March and climbed 1.1 percent year-over-year. Those figures are based on what RVI Group considers its “Real Index.” In the “Nominal […] [Read More]

The Ontario Motor Vehicle Industry Council announced it recently launched a province-wide multi-media campaign to increase awareness of all-in price advertising. OMVIC said it started the campaign following research the council conducted that showed some Ontario car dealers continue to add additional fees to their advertised prices — though it is illegal and disadvantages law abiding dealerships. […] [Read More]

While also addressing current industry developments such as Carvana’s financial moves and new-vehicle inventory levels, AutoNation chairman and chief executive officer Mike Jackson touched on what used models are “worth a premium in the marketplace.” And what Jackson described within that “premium” category likely aren’t necessarily the models that currently might be in your certified […] [Read More]

The Consumer Financial Protection Bureau said on Wednesday that Security National Automotive Acceptance Company (SNAAC) violated a consent order from 2015, demanding that the finance company make good on the redress it owes to consumers and pay an additional $1.25 million penalty. The CFPB initially ordered SNAAC, which specializes in working with servicemembers, to pay […] [Read More]

Following an apparently strong first quarter in the used-vehicle retail market, Edmunds is forecasting that there will be 3.6 million pre-owned car sales this month. That’s up from 3.4 million in March. The used-car SAAR for both months is 38.4 million, Edmunds said. According to analysis from Cox Automotive that cited NADA, used-car sales climbed […] [Read More]

Jumpstart Automotive Media discovered a 6-percent uptick in shopping for used cars across its portfolio of sites during the first quarter, which it attributes to a rise in shoppers looking for used luxury vehicles, in particular. Used luxury shopping is up 11 percent year-over-year, while down 3 percent for new, according to Jumpstart’s latest quarterly report, […] [Read More]