After news broke Wednesday that ADESA had signed a definitive agreement to purchase all eight Brasher’s auctions, Auto Remarketing spoke with Pierre Pons, the chief executive officer of ServNet. The Brasher’s family was among the founding members of ServNet, a network of independently owned auctions. ADESA parent company KAR Auction Services said the purchase of the Brasher’s […] [Read More]

On-demand field inspection and verification services provider WeGoLook reported this week that the company wrapped up 2015 with a total revenue growth of 300 percent year-over-year. The company that can examine vehicles among other services also finished the year with a $2.75 million aggregate Series A funding round. This past year, WeGoLook added more than […] [Read More]

ADESA has signed a definitive agreement to purchase the Brasher family’s eight auto auctions. ADESA parent company KAR Auction Services, which announced the agreement Wednesday afternoon, said the purchase would be a $283 million (approximately) cash deal. The transaction must meet customary conditions, including the expiration or termination of the Hart-Scott-Rodino waiting period, before it closes. […] [Read More]

On Wednesday, PassTime introduced the company’s new corporate brand, logo and redesigned website. The GPS tracking solutions provider explained the rebranding effort is designed to reflect the evolution of the company as well as its direction for the future.  The new website features a complete design update and streamlined layout, featuring new product logos and […] [Read More]

The Sparkling City Auto Auctions have announced that both of its auction locations will be renamed on Monday.  They are currently the Sparkling City Auto Auction of Corpus Christi and the Sparkling City Auto Auction of San Antonio, respectively. They will be renamed to the Corpus Christi Auto Auction and the San Antonio Auto Auction. “When we purchased the auction […] [Read More]

GPS tracking solutions provider Skypatrol rolled out what it dubbed Remote Auto Payment for vehicle finance companies and buy-here, pay-here dealers through the Skypatrol mobile app. The company highlighted borrowers will now be able to pay on their vehicle installment contracts remotely using either online banking or with cash at local authorized retail stores.  Skypatrol […] [Read More]

Manheim North America announced Wednesday the appointment of a new senior vice president of client experience. Taking on the role effective March 1 is Doug Keim, who will be responsible for developing and executing initiatives designed to improve dealer and commercial client satisfaction and profitability. Keim will report to Janet Barnard, Manheim North America’s president. […] [Read More]

To borrow a term often used now that it’s election season, the soundbite version of what TransUnion discovered about auto delinquencies might sound ominous. TransUnion determined 2015 closed with the high fourth-quarter delinquency rate since 2010. But instead of frothing like an overzealous campaign staffer, Jason Laky, senior vice president and TransUnion’s auto and consumer […] [Read More]

Black Book vice president of lender solutions Barrett Teague recollected leasing activities back in the early 1990s; a span when subprime leasing as well as contracts stretching as long as 60 months made their way into finance company portfolios. Teague pointed out that recessionary conditions prompted consolidation and some elimination of that leasing activity. But […] [Read More]

Clarity Services’ research division, nonPrime101, published a new report this week based on a unique five-year data set of more than 100 million payday loans representing 20 percent of the storefront payday market. Because of the unique size and duration of the data set, nonPrime101 set out to replicate statistical analyses used by the Consumer […] [Read More]