AuctionACCESS continued to expand its floor plan platform by successfully integrating with Manheim, according to an announcement distributed this week. Officials highlighted this integration will enable participating finance companies to centralize and automate the transmission of credit availability to Manheim locations through AuctionACCESS. In addition, Manheim auctions can electronically transmit floor plan loan originations to […] [Read More]

Five years ago today, the Consumer Financial Protection Bureau “opened our doors,” a milestone the regulator highlighted on its website. The Dodd-Frank Act that created the CFPB receives its operational funding the Federal Reserve, which literally can print money. As a result, dealerships and finance companies have had to add compliance to their operating lexicon […] [Read More]

The team at digital marketing solutions provider LotVantage noticed five dealerships in four states found ways to leverage the smartphone gaming app that’s all the rage nowadays — Pokémon GO. Franchised stores already sporting Hondas, Nissans and Subarus are welcoming people looking for Pikachus and other Pokémon characters, and LotVantage shared strategy so dealerships can […] [Read More]

As part of its commitment to support local community efforts, Manheim Pennsylvania Auto Auction this weekend will once again host Be Responsible and Keep Everyone Safe (B.R.A.K.E.S.), a safe driving course geared toward teens. Auction management highlighted that two four-hour sessions featuring hands-on defensive driving education for nearly 160 teens throughout Lancaster County will be […] [Read More]

In addition to opening a new Retail Solutions Center in the Detroit area, Manheim has bulked up staffing on its inventory solutions team with two new vice presidents. Derek Hansen was named vice president of Digital Inventory Solutions — earning a promotion from an interim post to which he was named in January — while Angela Babin […] [Read More]

Intellaegis president John Lewis recently compiled a two-part blog series for SWBC, a diversified financial services company that has interests in the automotive world along with insurance, mortgage banking and wealth management. While Lewis geared his collections compliance recommendations toward credit unions, the initial three suggestions on creating a mock audit to prepare for a […] [Read More]

CDK Global’s Customer Experience Center officially became operational on Wednesday, with more than 500 employees assuming roles ranging from client services to inside sales at the new facility. "Our new Customer Experience Center will incorporate best-in-class technology and service models to help our dealers navigate issues with speed and efficiency,” Bob Karp, president, North America […] [Read More]

In an effort to help dealers and finance companies benefit from the use of digital technologies, Dealertrack announced this week that Volvo Car Financial Services is now available for eContracting with Volvo dealers nationwide on the Dealertrack platform. The company highlighted the decision to go national was based on the results of a completed regional […] [Read More]

David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, suspects that two factors could “hint of future default rate increases.” However, auto financing wasn’t one of the ones Blitzer mentioned on Tuesday when the June S&P/Experian Consumer Credit Default Indices were released. The June auto loan default rate came […] [Read More]

Insurance Auto Auctions Inc., a business unit of KAR Auction Services with more than 170 locations throughout North America, announced the expansion and improvement of three of its facilities in Texas. An expansion at IAA Corpus Christi brought the facility to about 12 acres. This location, which became officially operational as of May 1, was […] [Read More]