How finance companies and buy-here, pay-here dealerships execute one of their most important functions — collections — now potentially has six additional layers of compliance requirements stemming from the regulatory proposal rolled out by the Consumer Financial Protection Bureau on Thursday. The CFPB explained its proposals under consideration would overhaul the debt collection market by […] [Read More]

Asbury Automotive Group is being affected by stop-sales related to the ongoing Takata airbag recall to the point that some company stores are running out of available space to park them. The company on Tuesday reported a 4 percent dip in used vehicle retail revenue during the second quarter, with unit sales down 5 percent on […] [Read More]

While it’s not exactly the case where crickets are chirping in the lanes, Black Book representatives from several parts of the country noticed soft activity at the auction. Along with recapping the year-over-year differences in full-size pickup prices, this week’s Black Book Market Insights report revealed what dealers are experiencing when making their trips to […] [Read More]

In an effort to help edgy parents who walk into your showroom or submit an inquiry through your store website, U.S. News & World Report released a list of six vehicles the publication classified as the 2016 Best Cars for Teens. These models have advanced safety features, new technologies for novice drivers, top crash test […] [Read More]

Customers using LeaseBusters and its FinanceBusters division to get out of or into a lease now have access to CARPROOF’s vehicle history reports. The newly announced agreement between the companies aims to facilitate  transparency in the lease takeover process. To that end, CARPROOF VHRs will now be available on LeaseBusters and FinanceBusters listings. New clients will […] [Read More]

The Justice Department filed a lawsuit this week in the Eastern District of Michigan to recover damages from the COPOCO Community Credit Union, alleging that the institution violated the Servicemembers Civil Relief Act (SCRA) by repossessing protected servicemembers’ vehicles without obtaining the necessary court orders. The SCRA protects the rights of servicemembers on active duty […] [Read More]

An interactive tool that can allow clerks to hone the skills they need to deliver a virtual version of the tradition auto auction experience to online dealers is the newest addition to the National Auto Auction Association’s Education and Training Library. The tool is designed to establish performance criteria to create consistency, reduce block errors and incite participation. One […] [Read More]

The settlement plan involving Volkswagen and Audi 2.0L TDI vehicles in the United States cleared another hurdle on Wednesday when Judge Charles Breyer of the U.S. District Court for the Northern District of California granted preliminary approval of the agreement reached on June 28 with private plaintiffs represented by the Plaintiffs’ Steering Committee (PSC) to […] [Read More]

AutoAlert announced it is now a certified partner in the Audi of America Tier III Co-Op Program. The program allows Audi dealerships to be reimbursed for certain OEM-approved expenses, provided they follow certain guidelines and have funding available. This process can give their teams more spending power elsewhere, according to news release. AutoAlert equity- and data-mining […] [Read More]

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]