One U.S. House Financial Services Committee member who possesses four decades of experience in the automotive space this week tried to pin down an outspoken advocate of the Consumer Financial Protection Bureau’s proposal that would prohibit mandatory arbitration clauses, alluding to the potential that modified policies might do more for plaintiff lawyers than consumers’ possible […] [Read More]

The Enterprise Rent-A-Car Foundation has renewed its $1 million pledge to the American Red Cross’ Annual Disaster Giving Program. Additionally, the philanthropic arm of Enterprise has pledged $100,000 to the Canadian Red Cross to assist with relief efforts in the wake of the Fort McMurray, Alberta, wildfires. This second annual $1 million contribution to the […] [Read More]

The Consumer Bankers Association is hosting a webinar featuring auto finance experts from Equifax and Moody’s Analytics. CBA officials said attendees can expect three main takeaways from the session, which is titled “Automotive Credit Trends and Lending Solutions to Improve Your Competitive Position in the Market." —The latest automotive economic credit trends presented by Moody's —Auto […] [Read More]

The certified pre-owned vehicle market in the first three months of the year reached a combined tally of 646,390 sales, which Edmunds.com says is a first-quarter record.  The Q1 sum is also a 5.2-percent year-over-year increase, Edmunds reported in its Q1 Used Vehicle Market Report released Thursday. But the fact that CPO penetration of franchised dealer […] [Read More]

DealerSocket rolled out a major upgrade to its mobile CRM technology for buy-here, pay-here and independent dealers. The latest software features a mobile driver’s license scanner, push alerts for website visits (when using a DealerSocket website) and support for attaching images and videos on outgoing emails within the mobile application. Dealers attending the National Conference […] [Read More]

Wholesale prices in Canada in April were down an average of 0.6 percent from March, according to a report accompanying the latest ADESA Canada Used Vehicle Price Index, powered by ALG. Four of the six segments tracked in the report saw their prices decline month-over-month, with two of those — minivans (down 15.9 percent) and […] [Read More]

First Access Funding Corp., a privately held non-prime automotive finance company based in Edmonton, Alberta, recently partnered with defi SOLUTIONS and Integrated Fintech in an effort as a top executive described “to take their lending program to the next level” with analytics and automation. FAFC president and chief executive officer David Ballantine has the goal […] [Read More]

Here’s more data showing how much metal is rolling over the curb as leased vehicles nowadays. Experian Automotive reported on Thursday that open leases originated during the first quarter grew by 27.55 percent to an all-time high of $76.9 billion, up from $60.1 billion spotted during the previous year. According to the most recent State […] [Read More]

The surge of non-prime and subprime loans and leases helped to push Experian Automotive’s total open balance reading above the trillion dollar mark for the first time. According to the most recent State of the Automotive Finance Market report released Thursday, total open balances jumped 11.1 percent in the first quarter of 2016 as the […] [Read More]

First-quarter retail used-car transaction prices have never been higher than they were in the opening three months of 2016, says Edmunds.com. Edmunds' Q1 2016 Used Car Market Report released Thursday morning said the average retail transaction price on a used car was $18,838, a first-quarter record. This is up 3.2 percent year-over-year, moving past 2015 figures […] [Read More]