The green check mark I received through the online testing platform of the National Automotive Finance Association’s Consumer Credit Compliance Certification Program sure did look pretty this past weekend. Instructors Patty Covington and Eric Johnson closed the Module 1 training session by encouraging students not to become frustrated if they didn’t secure an examination score […] [Read More]

When Equifax looked at its most recent auto finance data, analysts considered the trend that finance companies might be tightening their underwriting a bit. Still based on the August Equifax National Consumer Credit Trends Report, analysts noticed what they called “healthy growth” in originations. Equifax indicated that newly opened auto loans and installment contracts year-to-date […] [Read More]

To meet the growing demand from consignors for more consistency in vehicle valuation processes, Manheim on Monday morning announced plans to expand its AutoGrade condition score licensing program. Initially distributed only to National Auto Auction Association member auctions, the company highlighted the electronic vehicle condition reporting system will now be made available to all non-NAAA auctions […] [Read More]

Including numbers from franchised and independent dealers plus private-party sales, there will likely be somewhere in the neighborhood of 3.2 to 3.3 million used-vehicle sales this month. That’s according to respective forecasts from Edmunds.com and TrueCar. Edmunds is calling for 3.3 million used sales this month, which would translate to a seasonally adjusted annualized rate […] [Read More]

Wyoming might be small in terms of population, but Lithia Motors now has one of the largest franchised dealerships in the state. Lithia recently acquired Greiner Ford Lincoln of Casper, Wyo., in a move to secure a store that will add an additional $75 million in estimated annual revenues, according to the dealer group. “We […] [Read More]

With so many resources available, it’s easier than ever to find deals on used wheels. But are there regional degrees of car-buying savvy? Vroom examined the last three years’ worth of sales data from its site — tens of thousands of transactions — and came up with a list of the 10 states whose residents consistently find […] [Read More]

KAR Auction Services announced a vice president of KAR IT Shared Services on Thursday, promoting Gary Fields to the position. Fields has been with the company since 2003, when he joined the IT department of subsidiary Automotive Finance Corp. His most recent post was as director of KAR IT Shared Services. “Throughout Gary’s career at […] [Read More]

Two noncompliant practices consumer advocates often cite to criticize how financing happens at dealerships — yo-yo financing and payment packing — appeared in the rundown of charges made by the Federal Trade Commission against nine Los Angeles-area dealerships and their owners. This week, the FTC asserted these stores used a wide range of “deceptive and […] [Read More]

XpressCredit — a provider of a web-based, indirect lending platform for independent dealerships —recently entered into an agreement with NADA Used Car Guide to accelerate the used vehicle sale and loan approval process. Executives explained the integration of NADA Used Car Guide's values into XpressCredit's BookOut product to its dealer and finance company subscribers is […] [Read More]

JMN Logistics and Transportation has named David Burke as executive sales manager for Detroit. In his new role, Burke will provide leadership to the sales, marketing and customer service departments while maintaining focus on JMN Transportation’s strategic goals. Burke brings nearly 20 years of experience in the transportation industry. Prior to joining JMN, he was […] [Read More]