The surge of non-prime and subprime loans and leases helped to push Experian Automotive’s total open balance reading above the trillion dollar mark for the first time. According to the most recent State of the Automotive Finance Market report released Thursday, total open balances jumped 11.1 percent in the first quarter of 2016 as the […] [Read More]

First-quarter retail used-car transaction prices have never been higher than they were in the opening three months of 2016, says Edmunds.com. Edmunds' Q1 2016 Used Car Market Report released Thursday morning said the average retail transaction price on a used car was $18,838, a first-quarter record. This is up 3.2 percent year-over-year, moving past 2015 figures […] [Read More]

Insurance Auto Auctions announced an enhanced appraisal offering that provides more flexibility and choice for IAA Inspection Services customers. It’s part of the IAA Total Loss Solutions suite of products that facilitates customer satisfaction and manages costs during the total loss claims process. The ability for insurance customers to receive an appraisal is now fully integrated […] [Read More]

When the first Kerrigan Auto Retail Index was released at the end of March, the report said it was a bit premature to call the seven-year up-cycle in auto retail stocks over, but noted the handwriting was clearly on the wall. “It is still too early to call the end of the cycle, but the public […] [Read More]

The spring selling season has come to an end. That’s the conclusion analysts found based on the latest wholesale evidence discussed in this week’s Black Book Market Insights report. Black Book indicated the majority of truck segments were holding steady while cars were seeing larger price drops compared with the past 12 weeks. What’s more, […] [Read More]

Law enforcement officials last year recovered more than $122 million in vehicles equipped with the LoJack Stolen Vehicle Recovery System, according to the company’s seventh annual Vehicle Theft Recovery Report. While the average value of vehicles recovered in 2015 was $10,287, thieves continue to target vehicles valued over $30,000. LoJack attributes this to a phenomenon […] [Read More]

CARPHORIA Dealer Services, a technology solutions company, has completed the initial testing and launch phase for Trade-In Valet, a tool designed to help dealers convert website traffic and into sales — with no extra effort required by the dealer. "We don't expect our dealers to change a thing in their daily routines,” said Michael Dodd, president […] [Read More]

ACA International recently released a new white paper as part of its ongoing initiative to collect original data about the credit and collection industry and show how debt collection companies impact the economy.   In its paper titled “Methodological and Analytical Limitations of the CFPB Consumer Complaint Database,” ACA highlighted that the Consumer Financial Protection […] [Read More]

Santander Consumer USA president and chief executive officer Jason Kulas insisted the finance company has “more data than almost anyone else in the subprime space.” So when SCUSA cut back on its core non-prime retail originations by 15 percent during the first quarter, Kulas emphasized how that data helped to maintain “disciplined” underwriting standards. "What […] [Read More]

AUL Corp. recently completed the requirements for a Service Organization Control (SOC) 2 type II audit. Specifically targeting service firms with a focus on security, availability, processing integrity, confidentiality and privacy, AUL highlighted SOC 2 is designed to meet the demands of the vehicle service contract marketplace. Why is SOC 2 important to AUL customers? […] [Read More]