Your credit is good and the lease contract on your 2015 vehicle is about to expire: what are your options? You could choose to pay the residual and keep your current ride. You could trade the vehicle for a new one or for an alternative used car. Finally, you could hand in the keys and […] [Read More]

A broad collection of industry representatives already is gearing up to generate a significant pushback against the Consumer Financial Protection Bureau, which earlier this week spelled out a new rule prohibiting the use of class action waivers in arbitration clauses. And a pair of legal practitioners reached by SubPrime Auto Finance News gauged how successful […] [Read More]

PERQ has expanded its footprint to now offer its web engagement platform services in Canada, the company announced on Wednesday. "Why shouldn't auto dealerships in the U.S., and now Canada, have the opportunity to offer consumers a personalized, Amazon-like experience on their dealership websites?" PERQ president and co-founder Andy Medley said in a news release. "We […] [Read More]

Manheim is opening six new physical auctions, which will be located in Alabama, Georgia, Illinois, North Carolina, Texas and Utah, some of which have already launched. The auction company, making the announcement Thursday, said these locations are smaller, one- to four-lane facilities. The six new auctions are: — Manheim St Louis Gateway in Bellville, Ill. — Manheim […] [Read More]

The certified pre-owned car market in Canada was a strong one in the first half of the year. The majority of automakers sharing CPO sales results with Auto Remarketing Canada have reported improvements from a year ago. Starting with Toyota Canada, it sold 3,006 CPO units in June, up from 2,402 a year ago. Toyota moved […] [Read More]

Based on preliminary results released Wednesday, Lithia Motors is expecting its same-store used-car unit sales to have increased 4.6 percent in the second quarter. Meanwhile, Lithia is anticipating a 3.8-percent to 4.1-percent increase in used-vehicle retail same-store sales. All this part of a quarter where early indications have Lithia’s net income finishing between $51.5 million […] [Read More]

Recently, I heard about a dealership customer that ended up with a real lemon of a car. During the customer’s short-lease term, she experienced a series of significant mechanical issues. She completed a dealership survey after every service experience, each time expressing frustration about the vehicle’s quality. She was never contacted by the dealership until […] [Read More]

Dealership buy/sell advisory firm Kerrigan Advisors this week hired a new vice president who has been involved in accounting consulting to more than 150 dealerships across the country. Kerrigan Advisors announced that Mercedes Hendricks has joined the firm as vice president, bringing extensive certified public accountant expertise and a deep understanding of the dealership industry […] [Read More]

With Fourth of July influencing the measurements, the newest Black Book Market Insights report indicated both car and truck values remained relatively stable week-over-week. Out of both segments, editors noticed six vehicle categories maintained their values as depreciation was unchanged, with one additional vehicle category, full-size vans, increasing its value by 0.01 percent. “Wholesale prices […] [Read More]

Carvoy has launched Ignite, its newest proprietary product that allows consumers to view live feeds of vehicle availability, get credit approval and schedule delivery online. Ignite also allows consumers to control vehicle pricing by adjusting their preferences, which cause the monthly payments to change in real time, according to the automotive-tech startup. "The best part is […] [Read More]