In December, Carvana partnered with two credit unions, Georgia’s Associated Credit Union and LGE Community Credit Union, to offer their several thousand members a streamlined car buying process which allows them to receive pre-approval for financing a Carvana vehicle. "We're always looking for new and innovative services for our members that provide value and convenience. […] [Read More]

I’ve been in this journalism racket for 11 years now, nine of which has been spent covering the auto industry. But I’m not sure I have seen a year quite like this past one.  There is a certain routine to my job (and for most any journalist in the car business): sales/earnings calls happen every […] [Read More]

With the staff at SubPrime Auto Finance News fresh for 2017, we gathered up some noteworthy announcements that arrived while we celebrated the close of a great year with family and friends. Among some of the highlights that came during the past few days included an update on defaults, an acquisition by RouteOne and TransUnion […] [Read More]

Year-to-date certified pre-owned sales stood at 2.41 million units at the end of November, according to Autodata Corp., and this was up 3.6 percent and all but certain to break the 2015 sum of 2.55 million units sold.  That would extend the streak of best-ever years for CPO sales to six. So what is driving […] [Read More]

LotLinx recently announced that Pat Ward, former managing partner of motormindz, has been named its chief revenue officer. The digital retail technology company said Ward brings extensive automotive business expertise. He has more than 25 years in sales leadership, marketing and customer advocacy. “Having worked as a consultant where his creative thinking helped dealers every […] [Read More]

The entire team at Auto Remarketing and Cherokee Media Group wishes you a safe and happy holiday season and best wishes for the new year. This issue of Auto Remarketing Today PM will be the final regularly scheduled e-newsletter from our team in 2016 before we take a holiday break. We thank you for your interest, support, readership and feedback […] [Read More]

Spurred by spiking demand, used pickup truck prices have risen far more rapidly than what the overall industry is experiencing, says CarGurus. The price of a used pickup truck has climbed 22 percent since January 2013, according to the car-shopping site. The 1-percent hike in the overall CarGurus Used Car Price index in the same […] [Read More]

CarMax and two dealer groups have agreed to settle Federal Trade Commission charges that they touted how rigorously they inspect their used vehicles, yet the regulator claimed the dealers failed to adequately disclose that some of the vehicles were subject to unrepaired safety recalls. The FTC indicated on Friday that the proposed consent orders will […] [Read More]

HGrégoire announced this week that it is “consolidating its Laval assets in the new-car industry” and building two new Nissan superstores. The company has invested $10 million in each store, both of which are scheduled to open in February.   They are located at 4540 Robert-Bourassa Boulevard and 4299 Highway 40 North in Laval. HGrégoire's […] [Read More]

Three economists who regularly share their assessments with SubPrime Auto Finance News dissected the Federal Reserve’s actions this week, which at the conclusion of the regularly scheduled Federal Open Market Committee meeting included the raising of the federal funds rate by 25 basis points. In unanimously approving the move, the Fed explained its stance of […] [Read More]