AutoBuy plans to open four new locations in Florida, having served more than 100,000 private car sellers and appraised over $1 billion in inventory, the company recently announced. Since last year, AutoBuy said it has increased its available inventory by more than 110 percent and seen its revenue growth reach nearly 70 percent year-over-year, via both its brick […] [Read More]

Thanks to “mounting financial pressures,” the American Bankruptcy Institute reported that total U.S. filings in May increased 5 percent year-over-year. According to data provided by Epiq Systems, bankruptcy filings totaled 69,668 in May, up from 66,138 cases registered in May of last year. The 66,096 consumer bankruptcy filings in May were also up 5 percent […] [Read More]

The expert who oversees the S&P/Experian Consumer Credit Default Indices explained how May’s auto default movement should put discussions about a “crisis” in subprime auto financing “behind us.” S&P Dow Jones Indices and Experian released data through May and reported that the auto finance default rate dropped 5 basis points from the previous month to […] [Read More]

Providers of all sorts do not appear to be backing away from allowing access to consumers of all credit backgrounds, according to the assessment recently shared with Auto Remarketing Canada by Matt Fabian, director of research and consulting for TransUnion Canada. And auto finance appears to be the credit segment where providers are wanting to […] [Read More]

It appears consumers’ desire for a luxury model and their financial capacity to take over a lease didn’t mesh together well last month. Swapalease.com reported on Tuesday that vehicle lease credit applicants registered just a 48.1 percent approval rate during May, the lowest approval rate tracked by the company dating back to 2014, when the […] [Read More]

Charleston Auto Auction, which is part of the XLerate Group, announced Tuesday it has made four additions and changes to its sales team as it continues to expand. Krysten Hohl is in the auction’s newly created position of national remarketer; Johnathan Hollis joins Charleston Auto Auction as the new digital development representative for the Greater Atlanta […] [Read More]

As it turns, these new models of vehicle usage or ownership may actually be an opportunity for dealers, rather than a threat. At least that appears to be the case with Flexdrive, a vehicle subscription platform that is now a joint venture between Cox Automotive and Holman Enterprises. “A lot of people talk about the […] [Read More]

Honda’s certified pre-owned vehicle website (HondaCertified.com) has been completely redesigned to provide a more focused shopping experience, the company said Monday. The automaker has implemented a vehicle compare feature, a vehicle recommendations tool and an interactive payment calculator to help car shoppers find vehicles within their budget. On the new site, the primary focal point for shoppers […] [Read More]

ServNet auction owners and members of its executive team met for the group's semi-annual business meeting and a visit with national remarketers at a Meet the Owners event last month. At the Owners' Meeting, members discussed the group's Leadership Succession, which will occur this fall. Carolina Auto Auction’s Eric Autenrieth will assume duties as ServNet's […] [Read More]

Evidently vehicle shoppers in the U.S. will pay a much higher sum for advanced technology in their next new model than their counterparts in places such as Canada, Germany, the United Kingdom and China. And IHS Markit suggested that automakers adjust their strategies accordingly. The firm released a new global survey on consumer preferences for […] [Read More]