With officials saying some auto finance companies “deceived” individuals in multiple ways, the Consumer Financial Protection Bureau recently tabulated that its supervisory actions during the first four months of the year uncovered “illegal activities” that led to approximately $24.5 million in restitution to more than 257,000 consumers. The bureau’s report also highlighted issues CFPB examiners […] [Read More]

During the past month, Reynolds and Reynolds added three more states to its network associated with Reynolds Document Services. Joining the ranks are New Mexico, Idaho and Kentucky. Dealerships in 22 states can now access a comprehensive catalog of standardized, legally reviewed finance and insurance (F&I) documents. “Based on industry trends during the first half of […] [Read More]

Used-car prices in Canada were up on both a sequential and year-over-year basis in May, but that’s not expected to last, according to a report from RVI Group. In its most recent quarterly Risk Outlook report, RVI predicts that a growing supply of off-lease vehicles combined with a strengthening Canadian dollar will depress used-car prices […] [Read More]

Toyota, Mazda and Ford were the top mainstream brands while BMW and Volvo took top luxury brand honors in Vincentric's fifth annual Best Value in Canada awards. Honda also fared well, with four vehicles winning Vincentric awards. At the manufacturer level, Toyota Motor Corp. led the way with eight winning vehicles, two of which came […] [Read More]

Copart Canada has launched a website tailored to its Canadian members. The site, copart.ca, continues to use Copart’s proprietary VB3 auction technology while further enhancing members’ experience with Canadian inventory and content. “It’s really exciting to launch copart.ca, a site specifically for our Canadian members, on Canada Day,” Steve Macaluso, managing director of Copart Canada, said in […] [Read More]

The growth of digital retailing is broad-based in the auto business.   It runs the gamut from startups offering consumers peer-to-peer or direct-to-consumer online car-buying, to companies like Cox Automotive and CDK Global helping facilitate digital retailing at dealerships. And even certain pieces of the car-buying process are becoming more digitalized — for instance, consumers being […] [Read More]

ADESA Indianapolis recently hosted two charity events that together raised more than $34,000 for the Juvenile Diabetes Research Foundation, an advocacy group for people with Type 1 diabetes. “This is a cause that is close to my heart,” said ADESA Indianapolis general manager Dave Emerson, a past corporate chairman of the local Indianapolis Walk to Cure […] [Read More]

The 678,169 certified pre-owned sales in the second quarter represents a best-ever sum, says Autodata Corp. Releasing CPO results on Tuesday afternoon, Autodata said there were 223,560 certified sales in June, which beats year-ago figures by 5 percent. The daily sales rate was 8,598, compared to 8,519 in June 2015. This completes the first half of […] [Read More]

Online car-buying platform Beepi is now offering nationwide delivery, the company announced in a blog post Tuesday. Before this latest expansion, Beepi had been operating in a few handfuls of markets. Now, the entire U.S., essentially, will have access to Beepi. “While we’ve been active in 16 markets, we’ve been inundated with questions from people […] [Read More]

A little more than a month after Wayne Reaves Software rolled out an enhancement to its current platform that can provide the capability for buy-here, pay-here dealers to furnish credit data to Equifax, the DMS provider completed an integration with F&I Express, a digital solution that can allow operators to electronically secure customer signatures and […] [Read More]