Soon, Doug Hadden says, the wholesale vehicle market will transition from the majority of cars being sold in the auction to most being sold online. Hadden, who is the director of strategic dealer sales and services at ADESA, was speaking to dealers at a breakout session during the DealerSocket User Summit in early October. It […] [Read More]

The latest enforcement action handed out by the Consumer Financial Protection Bureau was again focused on debt collection. This time, the action involved Navy Federal Credit Union. The bureau specified four activities deemed to be improper debt collection actions that triggered a $28.5 million penalty. The CFPB charged Navy Federal Credit Union with these infractions: […] [Read More]

More industry reaction percolated stemming from Tuesday’s decision by the U.S. Court of Appeals for the District of Columbia Circuit involving the Consumer Financial Protection Bureau, which on the same day handed out a $28.5 million enforcement action against Navy Federal Credit Union for what the regulator deemed to be improper debt collection actions. To […] [Read More]

Reynolds and Reynolds recently released the Reynolds LAW Georgia F&I Library, which is a comprehensive catalog of standardized, legally reviewed finance and insurance (F&I) documents for franchised dealers in the state of Georgia. The company now has developed more than 30 state-specific Reynolds LAW brand F&I documents libraries, surpassing the midway point to a goal […] [Read More]

On Wednesday, Carvana launched in its 17th market: Cincinnati. This is the eighth new market for the online car retailer this year, including the move to fellow Buckeye city Columbus late last month. With the latest expansion, Carvana said it can now provide as-soon-as-next-day delivery to more than 118.3 million customers in the U.S. and […] [Read More]

What some legal watchers consider to be the second-highest court in the nation called the Consumer Financial Protection Bureau “unconstitutionally structured” on Tuesday. The U.S. Court of Appeals for the District of Columbia Circuit ruled in favor of a finance company that operates in the mortgage space, rescinding a $109 million enforcement action the bureau […] [Read More]

The gut response to market change is belt tightening. That’s often a prudent and wise action to take, but if you do, make certain cost-cutting isn’t cutting off oxygen to your business. What do I mean? When trends and data seem to indicate the industry tide is turning — when pundits predict slower times ahead — […] [Read More]

ADESA has announced changes to its management teams in Houston; Memphis, Tenn.; Seattle; and Tulsa, Okla.; effective immediately. Michael Schenks, who was general manager at ADESA Memphis, now has the same role ADESA Houston. Ron Schritenthal, previously assistant general manager at ADESA Memphis, has been promoted to general manager of that location. Dan Watt, who was assistant general manager […] [Read More]

TrueCar has launched a series of half-day, educational Dealer Summits designed to provide insights and best practices on sales processes, digital marketing, conversion rates and profitability. The first of these was Tuesday in Atlanta, with additional 2016 summits planned for Philadelphia and California — plus more to come in 2017.  Auto Remarketing caught up with vice president of dealer marketing […] [Read More]

Auto/Mate Dealership Systems announced this week that its dealership management system now is fully integrated with Singlethread, a service department text-message platform. Auto/Mate’s dealer customers now have the option to implement Singlethread’s messaging tool to communicate with service customers and have all records saved in each contact in the DMS. “Many customers prefer to communicate […] [Read More]