In what might be a positive development for auto finance companies, both the American Financial Services Association and the Consumer Bankers Association picked up on the same segment of the debt collection regulatory proposal the Consumer Financial Protection Bureau unveiled on Thursday. It’s a point CFPB director Richard Cordray made during the first half of […] [Read More]

Today’s new cars may be chock-full of the latest technology and features, but that comes at a price. In fact, the average price of a new car is $33,801. Because many people cannot afford a large monthly payment (let alone buy a new car outright), there exists a healthy market for affordable used cars. Still, […] [Read More]

Look for used-car sales to finish July near the 3.4 million mark, as forecasts from Edmunds.com and TrueCar each landed in that neighborhood. Edmunds estimates July’s used-car sales tally at 3.4 million, resulting in a 38.7 million SAAR. Last month, there were 3.2 million used-car sales, with a resulting SAAR of 38.7 million, the company […] [Read More]

The settlement plan involving Volkswagen and Audi 2.0L TDI vehicles in the U.S. has been granted preliminary approval by a federal judge in California, meaning eligible customers will soon have an important choice to make: sell their car back to VW (or end the lease without a penalty) or keep the car and get a free […] [Read More]

It has been a busy year on the expansion front for OpenRoad Auto Group, an 18-store group covering 15 franchises in British Columbia. After opening Jaguar Land Rover Langley in December, OpenRoad and Jaguar Land Rover Canada held a grand opening for the all-new dealership in March. In June, OpenRoad and Audi Canada held a […] [Read More]

Many of us may approach turning 50 with mixed feelings, but for Pfaff Automotive Partners, crossing the half-century mark a couple of years back was a truly exciting milestone. As Pfaff Automotive settles into its second 50 years, president and chief operating officer Christopher Pfaff offered his thoughts on a changing industry, challenges in the […] [Read More]

Certainly automakers and dealerships want buyers to pay a premium retail price for a certified pre-owned vehicle stemming from the reconditioning and other costs associated with the unit. But are consumers ready to pony up the extra cash or willing to finance that additional cost? The latest survey from NADA Used Car Guide gave OEMs […] [Read More]

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]