A recent Equifax survey indicated most consumers who participated do not place themselves at the head of the class when it comes to financial literacy. Auto finance companies such as General Motors Financial are putting initiatives in motion to coincide with National Financial Literacy Month in April to improve the situation. First, the challenge that […] [Read More]

PointPredictive recently announced the general availability of an enhanced version of DealerTrace, a comprehensive consortium-based analytic solution designed to provide auto finance companies with a dealer-level, holistic view of fraud and early payment default risk.  The firm explained this solution can allow most finance companies to detect dealer fraud up to six months earlier than […] [Read More]

Along with planning a workshop to examine financial issues and scams that can affect military consumers, the Federal Trade Commission said this week it is moving “aggressively” to implement presidential directives aimed at eliminating wasteful, unnecessary regulations and processes. Acting chairman Maureen Ohlhausen acknowledged excessive regulation and bureaucracy can create significant burdens on the public, […] [Read More]

Thanks to more data and information from NCM Associates, the National Independent Automobile Dealers Association and Subprime Analytics, Ken Shilson has more evidence showing the performance of the lease-here, pay-here model that more operators are leveraging as a way to augment their traditional retail installment contract business. Shilson plans to share a wide array of […] [Read More]

As part of its continued commitment to the needs of buy-here, pay-here dealers, short-term lenders and the alternative financial services industry, FactorTrust recently announced a tool called FlexFormat; what the company contends is the first industry standard in reporting short-term loan data for products focused on underbanked consumers. FactorTrust classifies the underbanked typically as consumers […] [Read More]

With Tom Webb set to retire on June 30, Cox Automotive named a new chief economist on Tuesday morning, while also announcing it is launching an economic industry insights office. Cox Automotive’s new chief economist is Jonathan Smoke, who had most recently held the same position with Realtor.com. Smoke has worked in the housing industry […] [Read More]

Pre-owned Tesla Model S vehicles sell notably faster than some of its U.S. counterparts’ best-selling used models, according to Autolist.  The firm recently released a study that delved into used Tesla vehicles’ overall market performance relative to those of General Motors and Ford. The pre-owned Model S averages 87 days on market, 5 percent below its peer group, reports the buyer intelligence firm’s study titled, […] [Read More]

Below is a Q&A with Janelle Jones, AVP/senior operations consultant/remarketing with Bank of America and a 2017 Women in Remarketing honoree.  Auto Remarketing: What was your path to the automotive industry, and what do you enjoy most about working in the car business? Janelle Jones: Being new to Seattle, I took a taxi to work on my […] [Read More]

Below is a Q&A with Jessica Stafford, vice president of marketing for Cox Automotive Media Solutions Group and a 2017 Women in Remarketing honoree.  Auto Remarketing: What was your path to the automotive industry, and what do you enjoy most about working in the car business? Jessica Stafford: I started out on the agency-side of marketing, working […] [Read More]

Perhaps showing the roots of a prolonged trend, Black Book reported that its latest Used Vehicle Retention Index — calculated using the company’s published wholesale average value on two- to six-year-old used vehicles as percent of original typically equipped MSRP — stood at 113.0 at the end of March. The reading represented a 0.8-percent decrease […] [Read More]