DriveTime passed another juncture on its “longer-term corporate roadmap” on Tuesday as the company continues to pivot away from the traditional buy-here, pay-here model of selling, financing and servicing vehicle sales to subprime customers. Tuesday marked the official launch of Bridgecrest Acceptance, a licensed third-party servicer for servicing installment contracts for DriveTime and other affiliated […] [Read More]

Toyota Certified Used Vehicles, as it turns out, is celebrating more than just its 20th anniversary in April. The CPO program — along with those at eight other brands, for that matter — just posted its best sales month of all time, according to Autodata Corp. And so did the overall industry.  As for Toyota, […] [Read More]

It was announced at the NADA Convention & Expo this weekend that online marketplace Car Lister has teamed up with Black Book for the latter to provide both users and dealer partners of Car Lister with instant vehicle valuation prior to a trade-in or purchase on the platform. This service will be included in both […] [Read More]

Victor O. Schinnerer & Co., a leading underwriting manager, launched on Monday what’s being called a new dealer open lot insurance program. The program is available to dealership clients and can provide coverage for owned inventory held for sale. The program, offered on non-admitted paper, is provided by a panel of Lloyd’s Syndicates backed by […] [Read More]

The certified pre-owned market was a popular topic during press conferences at the NADA Convention & Expo and in on-site interviews throughout the show. The news that came out Monday afternoon further cements why: CPO sales have never been higher than they were last month. According to Autodata Corp., there were 243,957 certified sales in […] [Read More]

On Monday, ADESA named Marty Nowlin as vice president of human resources. In his new role, ADESA said Nowlin will develop and execute all human resources strategies in support of the overall business plan and direction of the company. His key areas of responsibility will include talent management, succession planning and the company’s training and […] [Read More]

Carfax announced this weekend at the NADA Convention & Expo that MAXDigital has broadened its partnership with the vehicle history report provider. The enhancements include a wider array of information provided to dealers through MAXDigtal’s inventory management platform. So, things such as reported accidents, number of owners and open recalls, for instance, will appear instantly […] [Read More]

To give you a sense of the company’s philosophy around the CARPROOF Vehicle Valuation Report, director of product management Shawn Vording likens it to the approach in the real estate market. “When you’re buying a home, you don’t actually care what similar homes are listed for. You care what similar homes are selling for,” Vording […] [Read More]

Used and new metal is rolling over the curb at paces pleasing to dealers and finance companies. But more vehicles are connected to contracts at lengths approaching the time a two-term president spends in the White House. Autotrader senior analyst Michelle Krebs acknowledged the chatter about longer-term loans intensified as the industry gathered for recent […] [Read More]

Spireon recently launched its next generation GPS vehicle tracking and collateral management system (CMS).  The company highlighted GoldStar Lender has proven to help customers increase their loan portfolio performance by up to 20 percent. The company indicated Spireon’s GoldStar Lender solution can add new features to Spireon’s legacy products for managing and mitigating risk in […] [Read More]