Much like the dealer consignment side of the auction lane, you can expect commercial consignment to rise this year and next. According to a National Auto Auction Association forecast in Manheim’s 2016 Used Car Market Report, the drivers of the expected gains in commercial consignment are the spikes from prior years in new-car leases, outstanding […] [Read More]

Insurance Auto Auctions recently announced the grand opening of its IAA Louisville North location in Eminence, Ky. The new location officially opened on Feb. 22, featuring a ribbon cutting ceremony and selling more than 150 vehicles, including a 2013 Rolls-Royce Ghost that sold for $93,000. “The IAA Louisville North facility will expand the company’s presence […] [Read More]

Automotive diagnostic tools and information provider CarMD.com now is offering vehicle history reports to anyone who can access the Internet. Now accessible online as well as via the new CarMD App, site officials Monday expanded the availability of their Health and History reports, which they believe are ideal to assist used-vehicle buyers in their purchase decisions. With each […] [Read More]

The chief of staff at the Consumer Financial Protection Bureau recently spelled out nine priority goals the regulator intends to work toward during the next two years. While listed alphabetically, the first three mentioned by Chris D’Angelo certainly could be connected with auto financing. The rundown included: 1. Arbitration 2. Consumer reporting 3. Debt collection […] [Read More]

For the first time according to the data that goes back to the first quarter of 2011 provided by the Federal Deposit Insurance Corp. (FDIC), commercial banks that participate in auto financing saw their quarterly charge-off amount surpass $1 billion. While FDIC reported that insured institutions generated an 11.9 percent rise in net income during […] [Read More]

Credit Acceptance Corp. recently completed $385.0 million in asset-backed non-recourse secured financing. Pursuant to this transaction, Credit Acceptance contributed loans having a net book value of approximately $481.4 million to a wholly-owned special purpose entity that will pledge the loans to institutional lenders under a loan and security agreement. Executive highlighted this financing will: • […] [Read More]

CreditMiner, the solution provider that pre-qualifies and pre-screens consumers on Experian, TransUnion and Equifax credit bureau platforms, recently added a former Equifax executive to its leadership team. Garth Cappy, former director of dealer enterprise relationships for Equifax, joined the CreditMiner as vice president of credit services for North America, overseeing the North American credit services […] [Read More]

How digital is the auto retail environment becoming? Consider this: OEMs are likely to launch approximately 100 new digital stores globally in 2016, says Lisa Whalen of Frost & Sullivan. In the firm’s 2016 Global Automotive Outlook webinar this past Tuesday, Whalen — a vice president and business unit leader with the company — shared a few trends […] [Read More]

LeasePlan USA recently announced the hiring of a new region sales vice president of national accounts. Bringing over 15 years of fleet industry experience to the position is Melissa Cook, who most recently served as the district sales manager for Supreme Corporation. In the new position, Cook will be serving the Northwest and Midwest regions, […] [Read More]

AutoHook, powered by Urban Science, recently partnered with Carfax where individuals shopping for used vehicles on Carfax.com will now receive extra incentives from select dealers to visit their showrooms for a test drive. The partnership includes the integration of AutoHook’s incentive solutions into the vehicle details pages of Carfax Used Car Listings. The program is […] [Read More]