NextGear Capital announced an agreement with CarMax on Wednesday that will allow dealers to use their NextGear Capital lines of credit at all 68 CarMax auction locations. NextGear Capital floor plans are currently accepted at more than 1,000 live and online auctions, and may be used with inventory sources such as trade-ins, off-street purchases and […] [Read More]

As a non-profit financial counseling organization, our counselors see first-hand the impact a car and a car loan have on the financial security of individuals and their families. The value of a reliable car is pretty clear. It expands employment opportunities, since you’re not limited to the reach of public transportation and it gives individuals […] [Read More]

While Sonic Automotive’s EchoPark operations continued to gain steam during the second quarter, the dealer group’s overall used-vehicle performance during the second quarter softened a bit when compared to a year ago. Sonic highlighted on Tuesday that its EchoPark stores — rooftops that only turn used metal — posted a 28.9-percent sales gain in Q2, […] [Read More]

Fiat Chrysler Automobiles acknowledged on Tuesday that its “streak” of year-over-year monthly new-vehicle sales improvements since April of 2010 actually ended nearly three years ago. In response to recent press reports that raised questions about the manner in which FCA reported vehicle unit sales data on a monthly basis, the automaker explained its new methodology […] [Read More]

Edmunds.com celebrated the grand opening of its brand new headquarters — dubbed "EdQuarters" — at the Colorado Center in Santa Monica, Calif., on Tuesday. The facility consisting of 143,000 square feet was designed by M+M Creative Studio, and site officials believe it “sets a new bar” for workplace culture and amenities in Los Angeles’ emerging […] [Read More]

Automakers are investing heavily in autonomous and connected-car technology, but with these potentially exciting developments comes an increased possibility for cyber-attacks against vehicles. Among the consequences of failing to protect against cyber attacks is loss of business. In fact, 82 percent of consumers surveyed said they would be wary of buying from or would never […] [Read More]

Contrary to what’s been plaguing many dealers, Asbury Automotive Group enjoyed a rise in used-vehicle gross margin during the second quarter despite a retail environment that president and chief executive officer Craig Monaghan described as “choppy." Group management reported during a conference call to discuss Q2 results on Tuesday that its used-vehicle gross margin moved from 7.7 percent a year ago to 8.3 […] [Read More]

An operator who tries to sell used vehicles to credit-challenged consumers throughout Arkansas received a financial shot in the arm on Tuesday from Westlake Advanced Lending & Portfolio Services (ALPS). Westlake ALPS, a division of Westlake Financial Services, finalized the formation of a $3.5 million revolving credit line with Star Finance of Hot Springs, Ark., […] [Read More]

Cars.com chief executive officer and president Alex Vetter explained why the company’s decision to acquire DealerRater goes way beyond just another sales tool within its service portfolio it can provide to dealerships. In a way, Vetter described the pending transaction first announced on Tuesday morning basically as a move to protect dealerships from losing their […] [Read More]

Sales of certified pre-owned vehicles are setting records. But a study commissioned by NADA Used Car Guide found consumer awareness about CPO programs still has plenty of room to improve. In a special report shared with Auto Remarketing on Tuesday, NADA UCG determined 50 percent of 18- to 34-year-olds who participated in the survey stated […] [Read More]