This week, Westlake Financial Services highlighted that it has launched its electronic contracting automotive loan origination solution in 17 U.S. states through DealerCenter. Westlake insisted the move enhanced the finance company’s customer service to both its borrowers and dealer-partners, while continuing to improve the its loan acquisitions processes. Westlake indicated the solution will be available […] [Read More]

CarMax closed its fiscal year by reporting on Thursday that its total unit sales climbed 13.4 percent during the fourth quarter and 8.3 percent for the 12-month span. According to its latest financial statement, CarMax retailed 176,017 units in Q4 and 671,294 units during the fiscal year that concluded on Feb. 28. Within the wholesale […] [Read More]

The semiannual testimonial tussle on Wednesday between Consumer Financial Protection Bureau’s Richard Cordray and members of the U.S. House Financial Services Committee spanned more than four hours as the regulator’s director traded arguments back and forth about the agency’s activities and more. Chairman Jeb Hensarling didn’t hesitate to set the tone for the day during […] [Read More]

Four automakers posted new all-time highs for monthly certified pre-owned sales in March; a month where Autodata Corp. determined the industry turned the second-highest amount of CPO units ever. And perhaps the industry will need other OEMs to join that performance level in order to keep up with the volume of off-lease vehicles hitting the […] [Read More]

America’s Auto Auction is growing again with its second major acquisition announcement so far this year. The company added two more auction locations:  West Michigan Auto Auction in Wayland, Mich., and Interstate 94 Vehicle Auction in Parma, Mich. Both facilities were sold to America’s Auto Auction by Carl Miskotten, who will stay on as general […] [Read More]

There remains a “fair gap” and “a good amount of play between” the typical retail price between a new vehicle and a used or even a certified pre-owned model. However, Kelley Blue Book senior analyst Alec Gutierrez is seeing trends that are putting pressure on his current assertions. Gutierrez mentioned during a call with the […] [Read More]

The Dilawri Group of Companies earlier this week announced the acquisition of Cadillac Chevrolet Buick GMC West Island, lifting the company to a combined total of nine dealerships in the province of Quebec. Executives also pointed out this acquisition brings Dilawri’s total franchised dealership count to 62, and represents a second Cadillac Chevrolet Buick GMC […] [Read More]

Experts say toll violations represent the largest portion of violation spend for fleets. For fleets with vehicles in Canada, managing tolls and violations can be a large administrative undertaking. Donlen recently expanded its comprehensive toll management solution, DonlenPass, to include coverage in Canada on the 407 ETR in Ontario. DonlenPass can give fleet professionals control and […] [Read More]

Analysts who compiled White Clarke Group’s United Kingdom Asset & Auto Finance Survey 2017 say that the U.K. finance market has been resilient in the face of historic changes in the past year, but challenges will remain in 2017 and beyond. The firm noted its survey points to a series of key factors that will […] [Read More]

ForeverCar said it understands vehicle service contracts remain important revenue generators for dealers. They provide useful safety and budget protection benefits for consumers that purchase them for new and used vehicles. The company acknowledged VSC closing rates average 35 percent to 40 percent, excluding lease and cash customers who don’t buy service contracts, and that’s a […] [Read More]