PointPredictive, a provider of machine learning fraud solutions, recently announced the results of a new study that detected high levels of fraud in early payment auto finance contract defaults. The firm explained its study encompassed data from millions of auto finance applications submitted by dealers all over the U.S. across all vehicle types.  PointPredictive auto […] [Read More]

Prestige Financial Services recently completed its 15th rated term securitization, issuing $343.6 million in securities backed by $369.46 million in automobile installment receivables. In a transaction led jointly by Wells Fargo Securities and J.P. Morgan Securities, the finance company highlighted notes were purchased by qualified institutional buyers in a private offering pursuant to Rule 144A […] [Read More]

The view appears rosy for pre-owned operations at Sonic Automotive, including expansion in its EchoPark standalone used-car stores. The dealer group had its best-ever quarter for used retail sales and achieved more than 58-percent growth in its EchoPark sales, according to its quarterly earnings release. Sonic retailed 30,933 used cars in the third quarter, an […] [Read More]

When it comes to smaller new-car segments, one of the trends at play in the slowdown is “an affordability issue,” says Autotrader senior analyst Michelle Krebs.  “There are just many consumers who are being frozen out of the new-car market,” Krebs said during the Q&A portion of sales day conference call with the media on […] [Read More]

Carjojo’s goal is simple: to change the way people buy cars. The company’s website, which officially launched on Tuesday after three months of open beta testing, is a big step in that direction. Carjojo says it’s the first company to show car buyers detailed information — and to predict actual prices — on all of […] [Read More]

After a spate of no-sales two weeks ago, lane watchers from Black Book reported more robust conditions at auctions throughout the U.S. last week. “Sales were better today than last week, with units $12,000 and under selling the best,” said one in Tennessee. Also in this week’s Market Insights report, a Black Book rep in […] [Read More]

They might not always appear on the driveway wrapped in a giant bow, but gifted cars — either to a loved one or one’s self — are a big deal. And millennials, it turns out, are the demographic most likely to be doing the gifting. According to eBay Motors’ just-released Holiday Automotive Gifting Survey, millennials […] [Read More]

The Consumer Financial Protection Bureau (CFPB) has not come out unscathed in the wake of the Wells Fargo scandal. While some say the CFPB’s enforcement action demonstrates a need to strengthen the agency, others use the scandal as a case study to demonstrate the bureau’s inept and over-reaching practices. What’s behind the controversy surrounding the […] [Read More]

Dealertrack Canada said Monday it launched a Kia-branded Centric Finance Portal for the automaker’s Canadian dealer body. The portal is designed to “seamlessly integrate with the OEM’s systems providing real-time data updates, new vehicle inventory, incentives, aftermarket products and accessories, and CPO program data,” Dealertrack Canada parent company Cox Automotive Canada said in a news release. […] [Read More]

Not surprisingly, AutoNation chairman, chief executive officer and president Mike Jackson spent most of the company’s quarterly conference call this past Friday explaining why the dealer group is embarking on an aggressive used-vehicle expansion project. After reiterating what the company announced just before greeting Wall Street observers as well as the group’s third-quarter performance, Jackson […] [Read More]