As Fitch Ratings shared its latest update on the auto ABS market, analysts at the Federal Reserve Bank of New York indicated 3.6 percent of auto financing contracts stood at 90 or more days delinquent at the end of September. Meanwhile, total outstanding auto balances jumped by $32 billion year-over-year during the third quarter. What’s […] [Read More]

TREND Financial is a bit different than other players in the Canadian auto finance industry. It’s all leasing. It’s all pre-owned. The average age of the car when the lease is originated is six or seven years; when they come back, they might be a decade or older. And one of the mantras for TREND […] [Read More]

Add yet another public dealer group to the growing standalone used-car store movement. Penske Automotive Group announced Thursday morning that it has signed a deal to buy CarSense, a Northeast-based standalone used-car retailer. CarSense — whose no-haggle model focuses on late-model units — has five stores throughout the Pittsburgh and Philadelphia metro areas, including southern […] [Read More]

CarMax announced the opening of two new San Francisco Bay Area stores on Monday. A store in Santa Rosa and one in Fremont now join CarMax’s Pleasanton store, the company’s first store in the region that opened in May. The three stores have brought more than 200 jobs to the area this year. Both the […] [Read More]

Not only is lease penetration riding a record wave, leasing volume may experience a never-before-seen trend in 2016, as well. That’s according to Edmunds.com, which shared commentary from executive director of industry analysis Jessica Caldwell ahead of automakers reporting car sales on Thursday. “Leasing accounts for a larger share of new-car transactions than ever before, […] [Read More]

There is a considerable contrast between actual start-to-finish transaction times car buyers experience and what dealers believe is ideal, according to eLEND Solutions' survey of dealers nationwide published on Wednesday. While 36 percent of dealers surveyed said the ideal amount of time shoppers should spend in their dealership during the buying process is less than […] [Read More]

In honor of Auto Remarketing's 25th anniversary this year — which we are celebrating with our Dec. 1 issue  — 25 reasons, in no particular order, why I’m excited about AR & covering the auto industry: — There is always a new, innovative company to learn about in the used-car business. — We get to interact personally […] [Read More]

ACA International, the association of credit and collection professionals, released a new white paper this week. The paper titled, “Business Practices and Capabilities within the Debt Collection Industry,” examines the potential impact of additional Consumer Financial Protection Bureau regulatory measures on member organizations and the debt collection industry. “The Small Business Administration Office of Advocacy […] [Read More]

Cox Automotive presented its Community Impact Award to Karlea Marin of J.P. Morgan Chase during the National Remarketing Conference/National Auto Auction Association Convention at the Red Rock Casino and Resort in Las Vegas. Presented by Manheim senior vice president of inventory services Grace Huang, this award recognizes a remarketing industry leader for his/her outstanding contributions […] [Read More]

On Wednesday, SUVS.com published its list of this year’s top SUVs after examining offerings in each segment. "With SUVs starting to take a majority stake hold in US vehicle purchases, we felt that it would be important to highlight the best options available to consumers," said Sergio Zlobin, principal at Fueled Up, the parent company […] [Read More]