Reporting consumer performance to a credit bureau certainly can boost a buy-here, pay-here dealership’s offerings to its customer base. But when the process isn’t completed properly, the mistakes can catch the attention of federal regulators, which happened to Texas-based Tricolor Auto Group on Wednesday. The Federal Trade Commission said Tricolor will pay $82,777 in civil […] [Read More]

Even one of the experts who specializes in the certified pre-owned vehicle market and is set to appear at Used Car Week for the fifth year in a row joined the discussion about what moves the Federal Reserve might make associated with interest rates. Joe Derkos, director of the Power Information Network, a division of […] [Read More]

Multiple industry associations disagree with how the Consumer Financial Protection Bureau orchestrates its complaint database. Now a top federal examiner whose primary responsibility is “to detect and deter waste, fraud and abuse,” according to its own website, is questioning how the CFPB is handling this process. The latest audit report from the Office of Inspector […] [Read More]

BillingTree hired a director of new business development on Tuesday to focus on extending access to the company’s payment services and solutions to broader markets and industries, including auto finance. Taking on this post is Greg Mallin, whose position was created to facilitate growth and demand as a staff addition reporting to vice president of […] [Read More]

As CarProof continues its province-to-province campaign to disclose the lesser-known details of used-vehicles sold in Canada, some disturbing statistics come out of Alberta. According to the company, nearly half of all used-car transactions in Alberta occur without proper disclosures. On top of that, roughly 20 percent of used vehicles listed online for sale in Alberta […] [Read More]

Are Tesla CPO vehicles available in stores? That’s a question a recent Business Finance News article looked to answer, as the news organization reported Tesla opened a new store and service center in South California for both new and pre-owned Tesla Model S vehicles. The news was originally published by the Orange County Register, who […] [Read More]

No, CarMax isn’t going to be checking if quarterback Tom Brady is throwing footballs that are fully inflated. Rather, CarMax finalized a partnership with the reigning Super Bowl champion New England Patriots on Tuesday to be the official used-car retailer of the team. As part of the multi-year sponsorship agreement, CarMax highlighted that the company will […] [Read More]

Last week in the lanes didn’t bring any surprises as far as price movement was concerned. According to the latest Black Book Market Report, auctions saw relatively stable declines in values across the vehicle segments the company tracks. Overall, car prices dropped by an average of 0.42 percent or $47, while trucks saw a similar […] [Read More]

As a millennial (albeit an older one), I’ve always assumed most of my peers were averse toward driving minivans. Turns out, that stigma might not be as strong as I thought, at least not on the pre-owned side. Edmunds.com recently dissected Polk’s used-vehicle registration data from the first half of the year, and guess what […] [Read More]

DealerRater.com broke its monthly record in August, reporting nearly 60,000 consumer review submissions to the site last month. The total number of reviews for August, coming in at 59,814, represented a 69-percent increase over August 2014’s results. “August was our biggest month ever for submitted reviews,” said Gary Tucker, the company’s chief executive officer. “The […] [Read More]