Answer Financial formed a partnership with Verifacto this week in an effort to help buy-here, pay-here dealers monitor whether their contract holders are keeping vehicle insurance policies current. The companies highlighted Verifacto’s technology is designed to improve the way lienholders can track insurance compliance for its customers. The platform includes an interactive dashboard with built-in […] [Read More]

According to the Consumer Financial Protection Bureau’s monthly complaint snapshot released this week, the CFPB has handled approximately 1,008,500 complaints across all products as of Oct. 1. Bureau officials indicated debt collection remained the most-complained-about financial product or service. Of the approximately 26,000 complaints handled in September, there were 7,352 complaints about debt collection. The […] [Read More]

Vehicles in recent years have become better equipped and often contain more advanced technology, but while these upgrades might lead to higher MSRPs, they aren’t lifting prices in the auction lanes as late-model pre-owned units. The reason? Largely, there are so many of them. According to the latest Blue Book Market Report from Kelley Blue […] [Read More]

Penske Automotive Group saw its revenue increase 3.9 percent to $5.2 billion in the third quarter — one the company said was again marked by record results. “Our business continued to perform well in the third quarter, producing another quarter of record results despite the translation effects from foreign currency headwinds,” chairman Roger Penske said in […] [Read More]

On Wednesday, the Consumer Financial Protection Bureau updated its compliance bulletin on service providers, which can include skip-tracers, repossession agents and other firms that provide assistance during the recovery process. According to what the CFPB published through the Federal Register, an amendment was needed to clarify that supervised entities have flexibility, allowing for appropriate risk […] [Read More]

When the clock strikes midnight on Halloween, the pre-owned side of the car business may been in for a treat. Industry observers have released their expectations for used-car sales in October, calling for figures well above 3 million units. TrueCar said used-car sales could approach 3.29 million units for the month, which would be a […] [Read More]

The automotive segment of the 15th annual Chicago Innovation Awards honored six companies, including vAuto, DRIVIN, CarLease.com and ForeverCar.com. The Chicago Innovation Awards is that region’s foremost recognition of the most innovative new products or services brought to market or to public service each year. A record-breaking 643 organizations were nominated for this year’s awards. […] [Read More]

Not only are millennials becoming a bigger chunk of today’s car shoppers, they are squashing some stereotypes in the process. Edmunds’ newly released Car Shopping and Gender Report reveals that the idea of the man as the confident decision maker and the woman as the clueless sidekick doesn’t hold so much weight these days. Of […] [Read More]

Along with other recent appointments to the front office, Canadian Black Book continues to boost its executive leadership team under president Brad Rome with the hire of Cole Reiken as the new vice president of digital strategy and product management. Reiken’s background includes working with Kijiji.ca, Driving.ca, autoTRADER.ca and eBay Motors. “Canadian Black Book has […] [Read More]

Carvana has expanded its footprint in the Northeast by launching in Pittsburgh, its 18th market. The company says it now can offer as-soon-as next-day delivery to nearly 125 million customers, including more than 6 million in the Pittsburgh metro area. “Pittsburgh is a historic city full of thriving businesses and we’re excited to be able to […] [Read More]