Veteran salespeople might remember how the process unfolded 25 years ago when a friend of a friend suggested the buyer go to a certain dealership. Then, shoppers looked over printed vehicle brochures, walked the lot with store personnel and spent the better part of the day finalizing the delivery. Well for today’s dealership customers who might have […] [Read More]

Almost 20 years ago to the day, State Line Auto Auction hosted a sale that is said to be the first time a car was sold via simulcast. Two decades later, almost 14 percent of auction sales are simulcast, according to the 2014 NAAA Annual Review. More than 4 percent are online-only, the same report […] [Read More]

CarMax recently signed marketing partnership with Tom Brady’s football team, the New England Patriots. Now the company expanded its relationship with Peyton Manning’s gridiron squad, the Denver Broncos. CarMax highlighted the enhanced partnership with the Denver Broncos now includes extensive branding presence within Sports Authority Field at Mile High as well as media, digital and social […] [Read More]

If you’re looking for a way to help convert your service customers who haven’t previously bought a vehicle from your establishment into retail customers, AutoAlert’s newest tool might just be what you’re looking for. The recently announced tool, CreditConvert, utilizes pre-screen soft credit pull technology to help engage service-not-sold customers. The solution combines AutoAlert data […] [Read More]

Perhaps what Equifax chief economist Amy Crews Cutts shared about the thinking of most observers means the Federal Reserve will deliver finance companies the gift of an interest rate adjustment a little more than a week before Christmas. With the Federal Open Market Committee choosing not to make a short-term interest rate change this week […] [Read More]

In a move to highlight the important work being completed by F&I offices at franchised dealerships, the National Automobile Dealers Association rolled out an online campaign this week to tell stories of consumers who saved money by financing new-vehicle purchases through local dealerships. Through video testimonials and a new website to showcase the “true” economic […] [Read More]

Thanks to a partnership between AuctionACCESS and wholesale floor planning software provider Sword Apak, the lending partners in Sword Apak’s network are now included in the AuctionACCESS floor plan system. This means that current floor plan availability of lenders in the Sword Apak network can be transmitted to all AuctionACCESS auctions. Additionally, floor plan transactions […] [Read More]

To finalize the civil action with the multiple federal agencies connected with the faulty ignition switch recall, General Motors has one week to transfer $900 million into U.S. coffers. The settlement announced on Thursday also detailed federal investigator findings of how the OEM “actively concealed the truth” about those faulty ignitions in six discontinued models […] [Read More]

New data from Equifax Canada’s Q2 National Consumer Credit Trends Report showed that demand for new credit is strongest in the auto sector, and is growing everywhere except Quebec. The report also found that Canadians are still adding on debt, but at a slower rate seen in past quarters. According to the report, total consumer […] [Read More]

Perhaps underwriting standards aren’t quite as relaxed now as they might have a been a few quarters ago, but Fitch Ratings still is expecting to see “new entrants” into subprime auto financing during the near term. Along with touching on subprime, Fitch’s latest auto loan asset quality report highlighted a pair of other auto financing […] [Read More]