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]

This week, Reynolds Document Services, a segment of Reynolds and Reynolds, released the Reynolds LAW Washington F&I Library, a comprehensive catalog of standardized, legally reviewed finance and insurance documents available to franchised dealers in the state of Washington. Reynolds reiterated LAW brand documents can help dealers reduce their litigation risk. The documents in the LAW […] [Read More]

The National Auto Auction Association has elected its vice president for 2015-2016, finalizing its executive board for the term. Chosen for the position is Warren Clauss, who has been general manager at ADESA Buffalo since 1996. Clauss, who was elected at the association’s convention last month, serves along president Mike Browning and president-elect Jerry Hinton. […] [Read More]

Dealers looking for cars at auction should be able to make quick and “better-informed” decisions with an integration that brings Carfax data and insights to vAuto’s Provision and AuctionGenius products. That’s according to a news release Tuesday announcing a deal for Carfax Advantage dealers using those two tools to receive instantaneous views of reported accident […] [Read More]