Wise F&I recently announced that it is expanding its vehicle service contract programs and has developed WiseMVP, a pre-owned motor vehicle service contract that provides coverage for vehicles that are up to 20 years old and that have up to 200,000 miles. The company said its new plan allows consumers who purchase an older vehicle […] [Read More]

Generally speaking, consumers and dealers often don’t seem to see eye-to-eye when it comes to trade-in appraisal, says Black Book senior vice president of sales Jared Kalfus. “The consumer feels that the appraisal being delivered by dealers is not necessarily as accurate as compared to the valuations that they’re doing themselves online,” Kalfus said in a […] [Read More]

The latest move from Lithia Motors continues what has been an active few years on the acquisition side of the business.  The retailer has expanded its operations to Pennsylvania with the purchase of Baierl Auto Group in Pittsburgh. Lithia announced the acquisition on Monday afternoon. Baierl, which  has Acura, Cadillac, Chevrolet, Ford, Honda, Kia, Subaru and […] [Read More]

Over the past 28 years in executive search and several years as a general manager at a dealership prior, I have found seven components common to all terrific hires. We focus on these components when we are evaluating candidates and I want to share them with you. Hopefully this helps give focus to your searches. […] [Read More]

Like many organizations, FICO indicated Toyota Financial Services was looking for ways to achieve better outcomes from its collections efforts. At the same time, FICO acknowledged it was critically important for the captive to demonstrate to its customers that the company values the relationship. They sought to help customers avoid repossession or credit impacts due […] [Read More]

An environment where leases account for 30 percent of new-vehicle sales (give or take) may be the new normal. While there is not likely to be another major increase, lease penetration isn’t likely to “drop off any time soon,” says Eric Lyman, ALG’s chief industry analyst. The firm spotted 32-percent lease penetration earlier this year, […] [Read More]

RMS Automotive announced on Monday that it has collaborated with Manheim to provide a new co-listing solution that allows dealers to source manufacturers’ premium off-lease and off-program vehicles before they reach the auction block. All open-sale vehicles listed on manufacturers’ digital sales platforms powered by RMS are now simultaneously offered on Manheim.com and OVE, according to […] [Read More]

Ken Shilson and the National Alliance of Buy-Here, Pay-Here Dealers have been included in the same breath for decades. In a letter to NABD members obtained by BHPH Report on Monday, Shilson acknowledged that change is coming. Ahead of NABD’s 19th annual National Conference, Shilson shared an update on how the organization is evolving just […] [Read More]

Vehicle history report provider ClearVin announced on Monday that it has collaborated with J.D. Power Valuation Services — formerly known as NADA Used Car Guide — to now deliver NADA Values data to its client base of dealers and wholesalers who buy and sell used vehicles using its product. "With NADA Values, our customers can […] [Read More]

With delinquencies an ongoing concern, FICO said it has crafted a way to prioritize the account holders with the highest likelihood of paying. FICO discussed the process in its latest white paper, delving into the topic by discussing five questions managers often consider, such as: • What do analytics tell you about your delinquent accountholders? […] [Read More]