At last check (including June activity), the Consumer Financial Protection Bureau said the agency has handled approximately 930,700 total complaints across all products since opening its complaint database in June 2012. While only a small fraction of that complaint figure stems from auto finance issues, the CFPB announced through a post in the Federal Register a […] [Read More]

Back in April, Manheim announced it was expanding its Retail Solutions operations to provide clients greater access to high-quality services that can produce retail-ready vehicles. During a discussion about its second-quarter results last week, Sonic Automotive described how Manheim is a “great business partner for us,” especially as the dealer group is looking to gain […] [Read More]

Perhaps it takes a shopper longer to decide which vehicle they want from your inventory than it did for the acquisition of DealerRater by Cars.com to close. Cars.com announced on Monday that it closed the acquisition of DealerRater, a transaction first announced a week ago. The companies reiterated that terms of the transaction were not […] [Read More]

Car dealers will be able to create virtual reality vehicle videos through a new service launched by video marketing solutions provider Flick Fusion. On Monday, the company announced the launch of 360VR, a platform that lets dealers generate VR inventory videos for use on their websites, in email marketing and mobile ads, and on social […] [Read More]

For each used vehicle it retails, Group 1 Automotive has been generating an average gross profit in the neighborhood of $1,500, and you can expect that to remain steady in the second half of the year. In the company’s latest quarterly earnings call with investors, Group 1 said used-vehicle prices in car segments have been […] [Read More]

Lithia Motors watched its retail used-vehicle sales figure overall and on a same-store basis climb by double digits year-over-year in the second quarter, which turned out to be the highest second quarter for adjusted net income in company history. Lithia reported that it turned 12.3 percent more used vehicles during Q2 as all of the […] [Read More]

While BillingTree offered some first-hand assessments from attendees who were in Sacramento, Calif., for the Consumer Financial Protection Bureau’s field hearing after the agency released its debt collection regulatory proposal, SubPrime Auto Finance News also connected with a current member of the CFPB’s consumer advisory board to gather perspective on the implications on auto financing. […] [Read More]

Reynolds and Reynolds continued to build its resources for dealerships by recently releasing the Reynolds LAW Utah F&I Library, which is a comprehensive catalog of standardized, legally reviewed finance and insurance (F&I) documents for franchised dealers throughout the state of Utah. “Regulatory scrutiny will be a continuing and ever-present demand automotive retailers will have to […] [Read More]

Beware, drivers of older Honda Accords and Civics: Yours continue to be the most stolen vehicles in the U.S. That’s according to the National Insurance Crime Bureau’s annual Hot Wheels report identifying the 10 most stolen vehicles in the nation. The report examines vehicle theft data submitted by law enforcement to the National Crime Information Center […] [Read More]

Carfax’s new Snapshot tool aims to help consumers on car-shopping websites make faster, more informed buying decisions. Carfax Snapshot puts key vehicle history details such as reported accidents, number of owners, service records and open recalls right in front of potential buyers on the search results (SRP) and vehicle details (VDP) pages. Car shoppers then […] [Read More]