David Kennedy of First Credit Resources, who is the current president of the American Recovery Association and one of the speakers on tap for Used Car Week, offered four suggestions for what protective moves repossession agencies, another other service providers, should make with their computer and technology systems. Coinciding with October being National Cybersecurity Awareness Month, […] [Read More]

On Monday, White Clarke Group announced the release of a new fully cloud-hosted version of its CALMS complete lifecycle credit processing and administration platform for the automotive, consumer and equipment finance industry via its partnership with Amazon Web Services (AWS). Officials insisted White Clarke Group’s CALMS software platform, which is currently used by leading banks, […] [Read More]

No doubt, finance companies are looking for whatever reliable piece of information they can examine while they’re first deciding if they should make an auto finance offer to a potential vehicle buyer and then exploring what terms and down payment should be leveraged. So what about using someone’s social media profile? After all, Experian cited […] [Read More]

“The automotive shopping experience is becoming much more personal.” This quote from DealerRater general manager Jamie Oldershaw might seem like a departure from a retail automotive industry that is rapidly moving to a more digitalized car-shopping process. Except that’s exactly the environment from which an effort to personalize car shopping begins. In mid-September, Cars.com — which […] [Read More]

The brighter the car color, the brighter its future retention. According to an iSeeCars.com analysis of 2.1 million used vehicles, yellow vehicles depreciated an average of just 27 percent in value after three years, and orange cars depreciated 30.6 percent. These school bus-inspired colors led the class, as they had the lowest depreciation rates among the […] [Read More]

GPB Capital affiliate Capstone Automotive Group said Monday it now has a majority equity stake in Prime Motor Group. With the stake in Prime — which has more than 25 businesses throughout Massachusetts, Vermont, New Hampshire and Maine — this marks Capstone’s first foray into New England. The acquisition also adds the Acura, Honda, Mercedes-Benz, […] [Read More]

CarMax has plans to bring on more than 2,000 new hires by the end of the year, the company announced Monday. The used-car retailer is mostly looking for sales consultants, technicians, detailers and inventory associates companywide. Several CarMax stores are also hiring for positions within its business offices, according to CarMax. In addition to the headquarters in […] [Read More]

PERQ is the latest company to join the expanding CDK Global Partner Program, the company announced Thursday. The program recently reached over 350 partners and 450 unique applications, according to CDK. “The continued expansion of the CDK Partner Program plays a critical role in our ability to enable end-to-end automotive commerce for our customers,” CDK […] [Read More]

Auto defaults continued their cyclical move higher in September, crossing the 1-percent threshold and landing at nearly the highest spot in three years. The data through September reviewed by S&P Dow Jones Indices and Experian showed that auto finance defaults increased 10 basis points to 1.05 percent. That’s the highest level analysts have seen since […] [Read More]

Tommy Moore Jr. initially thought what sprouted to be First Investors Financial Services would just be a sideline business in auto finance. He was concentrated on another banking career in Houston at the time, focused on retail and commercial lending. Now nearly 30 years later, First Investors Financial Services is a well-established auto finance company […] [Read More]