Western Funding, a specialized consumer finance company and subsidiary of Westlake Financial Services, this week named Garrett Weyrich as its new vice president of sales and marketing. Weyrich joins Western Funding with more than 17 years of auto finance experience. His background includes experience in indirect auto financing, bulk purchasing, floor plan financing and digital […] [Read More]

Both S&P Global Ratings and the American Bankers Association spotted rises in auto finance delinquencies in their recent reports, but Cox Automotive chief economist Tom Webb insisted this week that the “overall financing environment remains extremely favorable.” According to results from the ABA’s second-quarter Consumer Credit Delinquency Bulletin, both of its categories of auto financing […] [Read More]

NADA Used Car Guide’s seasonally adjusted used-vehicle price index fell by 1 percent in September, bringing it to its lowest level since March 2011, according to its latest Guidelines report.  Here’s what happened last month: Wholesale prices of vehicles up to 8 years old fell by 3.6 percent. While in line with predictions, it was the […] [Read More]

ServNet has a new member. Joining the independent auction group is Louisiana’s 1st Choice Auto Auction, which opened back in 2002.   “We welcome Louisiana’s 1st Choice Auto Auction as the newest member of the ServNet Auction group,” ServNet president Kevin Brown said in a news release.  “The auction is highly regarded in the industry, […] [Read More]

TrueCar has partnered with Hearst Autos to launch a new vehicle buying service through the latter's Car and Driver website. Visitors to CarandDriver.com looking for research, reviews, road tests and more will now have access to TrueCar’s new vehicle pricing information and nationwide network of more than 12,000 certified dealers. Car and Driver consumers can access the […] [Read More]

Dealers, take note: When it comes to the customer reviews you choose to feature online, words may matter more than stars. CDK Global, as part of its The Language of Closers study, has identified the top words and phrases playing a role converting potential shoppers through dealership reviews. “Dealers typically assume that positive, five-star reviews […] [Read More]

The American Bankruptcy Institute reported that total filings fell 6 percent during the first nine months of this year compared to the figure generated through the first three quarters of last year. According to data provided by Epiq Systems, there were 593,034 bankruptcy filings between Jan. 1 and Sept. 30. During the same span of […] [Read More]

Car thieves may be getting more sophisticated, but the latest Uniform Crime Report from the FBI shows that the number of stolen vehicles has dropped dramatically over the last decade. According to the report, 707,758 motor vehicles were stolen in the U.S. in 2015 (220.2 per 100,000 people). That’s nearly a 41-percent drop from 2006. […] [Read More]

The BC Auto Industry Conference is kicking off today at the Sun Peaks Resort in British Columbia, and part of the two-day event will include what organizers have dubbed the “Auto Remarketing Panel.” The panel, set for Friday afternoon, will include Mark Rousseau, president of CARPROOF Darren Graham of Applewood Auto Group Mark Edmonds of […] [Read More]

Subaru Canada has partnered with Xtime for a cloud-based scheduling solution aimed at enhancing customers' service experience. Subaru Service Scheduler includes two of Xtime’s offerings: Scheduler and Two-Way Text Messaging. The first allows customers to select the ideal date and time for their appointment via web, mobile or phone. It also provides dealers with a […] [Read More]