OVE and DealShield are offering an online-only promotion through March 31 that gives dealer clients who participate exclusive access to inventory not seen at auction. “This promotion is ideal for first-time and repeat users of our digital services,” said Derek Hansen, vice president Digital and Inventory Services at Manheim. “Everyone reaps the rewards that come […] [Read More]

Carvana has opened a second “Car Vending Machine.” The online vehicle retailer opened the first one late last year in Nashville, Tenn., and said Tuesday it has opened a larger one in Houston. The fully automated, coin-operated machine includes an eight-story, all-glass structure featuring four delivery bays and 30-car storage capability. Each delivery bay door […] [Read More]

On Tuesday, Hertz announced the appointment of Kathryn Marinello as president and chief executive officer. Marinello has been elected by the boards of directors of Hertz Global Holdings and Hertz Corporation to replace John Tague in early January. Tague will retire as Hertz president and chief executive officer on Jan. 2. "Kathy (Marinello) is a […] [Read More]

This week, the Cause of Action Institute filed a lawsuit in the U.S. District Court for the District of Columbia to compel the Consumer Financial Protection Bureau to provide records the agency used in formulating its rule to prohibit the use of mandatory binding arbitration clauses in financial services contracts. Cause of Action Institute claims […] [Read More]

Toyota and Hyundai top CarMD.com’s annual ranking of vehicles causing the fewest check-engine headaches.  The CarMD Vehicle Health Index names the 1996 to 2016 model-year makes and models with the lowest frequency of check engine light problems and average cost of repairs. CarMD names Toyota the brand least likely to need check engine repairs in its […] [Read More]

Casual observers might panic when they see TransUnion’s expectations for 2016 to close with a 7.0 percent year-over-year increase in the 60-day delinquency rate along with that reading set to approach the highest level in eight years by the time 2017 finishes. However, TransUnion’s Jason Laky is confident that finance companies and close watchers of […] [Read More]

EFG Companies and Northwood University on Wednesday announced the selection of Team Vigilance as the winner of the 2016 F&I Innovator of the Year Award competition and the recipient of $25,000. Competition orchestrators highlighted that Team Vigilance utilized its millennial mindset, ongoing dealership research and F&I mentor input to create “401Karrs.” The product can address millennial […] [Read More]

The U.S. Department of Transportation announced a proposed rule Tuesday that would require automakers include vehicle-to-vehicle communication on new vehicles. The DOT said in a news release that this Notice of Proposed Rulemaking, in short, is designed to foster V2V communication that would help prevent crashes by allowing cars to “talk” to each other. Full […] [Read More]

Lease penetration has reached an all-time high, and its impact goes beyond financial institutions, dealers and automakers. Exchange marketplaces like Swapalease.com have been affected by the rising popularity of leasing in recent years. Scot Hall, who is executive vice president for the Cincinnati-based lease exchange company, said demand at Swapalease will typically reflect the leasing […] [Read More]

As the year closes, it is time to look forward and plan for next year. Recent performance data for the subprime auto finance market indicates that better days are ahead for independent buy-here, pay-here operators who can capitalize on the opportunities. Recent data from Experian Automotive indicates that through the third quarter of 2016, “installment […] [Read More]