Auction sales volume in March was steady with year-ago figures and dipped 2 percent sequentially, according to the latest Guidelines report from J.D. Power Valuation Services. Showing a particularly sharp increase in the auction lanes was the late-model compact utility vehicle. Overall, there were 384,704 auction sales of vehicles up to 8 years in age, […] [Read More]

Columbus Fair Auto Auction  announced that it has been tapped for the second year in a row by Ally Financial to receive its Leadership Auction of the Year award in recognition of its overall sales performance last year. “We value the Ally Financial relationship and strive to differentiate our auction through process and execution”, Alexis […] [Read More]

Franchised dealerships sold nearly 15 million used cars last year, taking a 37-percent share of the pre-owned retail vehicle market, according to the NADA Data 2016 report. And the average used-car department at a franchised store was pulling in annual gross profits of just under $1.69 million, the report said. This annual financial profile of […] [Read More]

While noticing that March wholesale prices rebounded by 1.6 percent, the team at NADA Used Car Guide, a division of J.D. Power, is expecting the market to give back much of that gain in April. According to the latest issue of Guidelines released on Tuesday, NADA UCG indicated that prices of vehicles up to eight […] [Read More]

Black Book’s latest recap of bidding activity and price movement showed how aggressively dealers are getting in the lanes either in person or online. As certain units kept auction ringmen busy, the Black Book Market Insights report indicated 13 out of the total 22 vehicle segments saw an increase in average value. On the other […] [Read More]

A recent Equifax survey indicated most consumers who participated do not place themselves at the head of the class when it comes to financial literacy. Auto finance companies such as General Motors Financial are putting initiatives in motion to coincide with National Financial Literacy Month in April to improve the situation. First, the challenge that […] [Read More]

PointPredictive recently announced the general availability of an enhanced version of DealerTrace, a comprehensive consortium-based analytic solution designed to provide auto finance companies with a dealer-level, holistic view of fraud and early payment default risk.  The firm explained this solution can allow most finance companies to detect dealer fraud up to six months earlier than […] [Read More]

Along with planning a workshop to examine financial issues and scams that can affect military consumers, the Federal Trade Commission said this week it is moving “aggressively” to implement presidential directives aimed at eliminating wasteful, unnecessary regulations and processes. Acting chairman Maureen Ohlhausen acknowledged excessive regulation and bureaucracy can create significant burdens on the public, […] [Read More]

Thanks to more data and information from NCM Associates, the National Independent Automobile Dealers Association and Subprime Analytics, Ken Shilson has more evidence showing the performance of the lease-here, pay-here model that more operators are leveraging as a way to augment their traditional retail installment contract business. Shilson plans to share a wide array of […] [Read More]

As part of its continued commitment to the needs of buy-here, pay-here dealers, short-term lenders and the alternative financial services industry, FactorTrust recently announced a tool called FlexFormat; what the company contends is the first industry standard in reporting short-term loan data for products focused on underbanked consumers. FactorTrust classifies the underbanked typically as consumers […] [Read More]