Cox Automotive has made another executive-level move, this time appointing Brian Geitner as president of financial services and NextGear Capital. Geitner, who was already president of NextGear, receives these expanded duties as Patrick Brennan, who had been group vice president of finance services, became Cox Automotive’s senior vice president of operations and chief integration officer […] [Read More]

This week, customer relationship management solution OneCommand finalized the certified integration of its HigherGear CRM with Guest Concept’s 1st Pencil, a dealership sales presentation software provider. Executives explained that 1st Pencil and HigherGear CRM have historically been used autonomously by dealers across the country. They indicated this new integration is designed to provide enrolled dealers […] [Read More]

On Wednesday, the Twitter feed of the South Carolina Emergency Management Division was filled with retweets, photos and other messages informing Palmetto State residents of deceptively deep waters behind road barricades, curfews, water distribution centers and ways to help victims of the flooding that has devastated the Carolinas in recent days. No doubt the devastation […] [Read More]

Two of the largest buy-here, pay-here dealership chains — America’s Car-Mart and J.D. Byrider — recently opened new stores, each one expanding their footprints in the Southeast. Longtime franchisees Steve and Jeanne Locklear recently rolled out their fourth dealership, broadening J.D. Byrider’s presence in Florida to 10 locations. The new store is located at 707 […] [Read More]

While Volkswagen’s TDI models carry a higher initial price tag and historically tend to hold their values longer than their gasoline-powered counterparts, it appears as though that price gap is closing as the seemingly perpetual flow of news involving the company’s diesel emissions scandal continues to circulate. That certainly appears to be what's happening in the […] [Read More]

Leaves might be starting to fall as autumn deepens, but Manheim spotted that wholesale used-vehicle prices (on a mix-, mileage- and seasonally adjusted basis) climbed for the fourth consecutive month in September. The upward movement brought the Manheim Used Vehicle Value Index to a reading of 124.8, representing an increase of 2.8 percent from a […] [Read More]

The Consumer Financial Protection Bureau is now using the phrase “free pass” to describe how some finance companies include arbitration clauses in their vehicle installment contracts. As a result, the CFPB announced on Wednesday that the agency is considering proposing rules that would ban consumer financial companies from using a “free pass” to block consumers […] [Read More]

Wells Fargo spokesperson Natalie Brown told SubPrime Auto Finance News late this summer that the company doesn’t “grow for growth’s sake.” So it’s likely the company made a concerted effort with its due diligence as it opened its 57th regional business center (RBC) this week. Wells Fargo Dealer Services chose to make its expansion in […] [Read More]

Dealers are calling for the Canadian government to focus on creating an environment for dealerships and small businesses to prosper. The Canadian Automobile Dealers Association — representing 3,300 franchised dealers — launched its election campaign platform on Monday, which focuses on policy recommendations that will create a favorable environment for dealerships to succeed in what […] [Read More]

SmartAuction has sold its 5 millionth vehicle. Ally Financial announced today that its online auction platform held a special auction for the milestone vehicle, which was purchased by Classic Chevrolet of Grapevine, Texas. The winning bid was approximately $180,000, and Ally will divide that sum and donate it to 10 charities in the Dallas area […] [Read More]