Equifax announced on Thursday that it is powering a new solution designed to help dealerships to verify a potential buyer’s stated income and employment. The solution is fueled by accessing The Work Number, a database of employer-provided income and employment information from Equifax Workforce Solutions, a business unit of Equifax. It is anticipated that the […] [Read More]

Three years after leaving the investment banking world to form Braeger Financial Group with the objective of bringing individual accredited investors directly into auto finance, David Braeger recently rolled out his latest financing products to help buy-here, pay-here and independent dealerships secure more working capital. Braeger is now offering short-term finance notes to dealers; notes […] [Read More]

The fact that the top 10 list of vehicles owners keep for at least 10 years is made up entirely of models from Japanese automakers — many of which of known for strong reliability — doesn’t necessarily surprise Phong Ly. No, the surprise to the iSeeCars.com chief executive: nine of the top 10 are either […] [Read More]

Donlen announced that it partnered with the NAFA Fleet Management Association to offer CAFM certification to Donlen representatives.  “CAFM is the proven mark of excellence in, and knowledge of, the most-current fleet practices,” said NAFA chief executive officer Phillip Russo. “Partnerships — like ours with Donlen — further illustrate how pivotal professionals with the CAFM […] [Read More]

Volvo Car Canada now has its own captive finance company. On Wednesday, the automaker officially launched Volvo Car Financial Services (VCFS), which the company indicated will handle day-to-day management of the financial services business including leasing and financing.  “Volvo Car Financial Services is an integral part in growing the Volvo Car business in Canada,” said […] [Read More]

OVE and DealShield are offering an online-only promotion through March 31 that gives dealer clients who participate exclusive access to inventory not seen at auction. “This promotion is ideal for first-time and repeat users of our digital services,” said Derek Hansen, vice president Digital and Inventory Services at Manheim. “Everyone reaps the rewards that come […] [Read More]

Carvana has opened a second “Car Vending Machine.” The online vehicle retailer opened the first one late last year in Nashville, Tenn., and said Tuesday it has opened a larger one in Houston. The fully automated, coin-operated machine includes an eight-story, all-glass structure featuring four delivery bays and 30-car storage capability. Each delivery bay door […] [Read More]

On Tuesday, Hertz announced the appointment of Kathryn Marinello as president and chief executive officer. Marinello has been elected by the boards of directors of Hertz Global Holdings and Hertz Corporation to replace John Tague in early January. Tague will retire as Hertz president and chief executive officer on Jan. 2. "Kathy (Marinello) is a […] [Read More]

This week, the Cause of Action Institute filed a lawsuit in the U.S. District Court for the District of Columbia to compel the Consumer Financial Protection Bureau to provide records the agency used in formulating its rule to prohibit the use of mandatory binding arbitration clauses in financial services contracts. Cause of Action Institute claims […] [Read More]

Toyota and Hyundai top CarMD.com’s annual ranking of vehicles causing the fewest check-engine headaches.  The CarMD Vehicle Health Index names the 1996 to 2016 model-year makes and models with the lowest frequency of check engine light problems and average cost of repairs. CarMD names Toyota the brand least likely to need check engine repairs in its […] [Read More]