Along with naming a new chief risk officer, Ally Financial on Wednesday announced that it will offer consumer auto financing products for vehicles purchased on Beepi, an online platform launched last year that uses technology to conduct transactions online or via smartphone. Ally auto financing products will be available to Beepi customers on nearly all […] [Read More]

With contract terms continuing to lengthen, perhaps this year’s contingent of Best Resale Value Awards from Kelley Blue Book might provide finance companies with vehicles to enhance underwriting and origination decisions. The 2016 model-year brand and category winners of the annual award program recognizes vehicles for their projected retained value through the initial five-year ownership […] [Read More]

Wolters Kluwer Financial Services teamed with F&I Express this week to integrate F&I Express eContracting with its AppOne indirect loan origination platform. Officials highlighted the joint solution is designed to create a comprehensive auto finance platform for dealers to originate compliant auto loans, verify pricing of aftermarket products, including extended warranties and vehicle accessories and […] [Read More]

When Bryan Honda of Fayetteville, N.C. decided to sell vehicles in real-time directly within the Facebook platform the dealership team wanted to see if the traffic would come — would people actually be interested? And this Cyber Monday, when the social sales tool was beta tested, the dealership got its answer. In the words of Rico […] [Read More]

Vroom chief executive officer Allon Bloch was talking about the reconditioning software and processes of Texas Direct Auto when he paused mid-sentence. “I’m just going to kind of geek out for a second just to explain to you how it works,” Bloch said. He then described the steps TDA takes between acquiring a vehicle and […] [Read More]

Cox Automotive Canada, along with its Manheim Canada operations, announced this morning it has partnered with XLane to design a new dealer-to-dealer online auction tool. The dealer-to-dealer online multi-platform, InstantAuction, is crafted to make the process of buying and selling vehicles easier, quicker and more transparent. "We are delighted to have partnered with XLane to […] [Read More]

Auto Remarketing learned that online used-car retailer Vroom agreed to purchase Texas Direct Auto, a store said to be the country’s largest privately owned independent dealership and an early adopter of online retailing. The transaction was announced Wednesday morning, and it gained approval from the Department of Justice that afternoon, according to the company. Funding the deal is a […] [Read More]

Stress-testing has had a profound effect on risk management practices within banks. In the wake of the global financial crisis, regulators around the world instituted policies designed to substantially remove the possibility of large-scale bank failures.  Capital reserves at banks have been appreciably raised, and regulators are applying a considerably greater amount of scrutiny to […] [Read More]

The answer to the above question? That’s simple: We truly don’t have a selling fee because that is not the auction industry’s true role in the consignor-auction-buyer dynamic.  Our true role is to market used vehicles into the buying niches that absorb that type of product, but “selling it” is the consignors role based on […] [Read More]

The folks at the Carolina Auto Auction find themselves in a “bittersweet” transition period as they celebrate the career of their fleet/lease manager, Sal Terranova, who is headed for retirement. Announced by the company on Wednesday, CAA’s well-known Terranova is succeeded in his position by Joe LeMonds, who has been shadowing Terranova in the position […] [Read More]