CarStory released its monthly Used Vehicle Deal Alert on Wednesday, highlighting the best deals it’s seeing for its customers across the country. On the reverse side, however, is something particularly useful for dealers: the top five most popular used vehicles searched for on CarStory's site. Here’s the list, based on online searches by make and model, according to CarStory: CarStory's […] [Read More]

It was announced this week the Steele Auto Group has added another Nova Scotia store to its lineup, bringing the dealer group's store count to 19. Christopher Megaffin has sold his Colonial Honda dealership to Steele Auto Group. The Megaffin family has run the Halifax dealership on Robie Street for more than 30 years. Due […] [Read More]

Citing historical trends, NADA Used Car Guide points out that November saw an easing in used-vehicle depreciation, staying the course for the typical seasonal pattern of the industry. November’s depreciation – 1.9 percent – was noticeably lower than October’s 2.7-percent drop. In the December edition of Guidelines, NADA UCG’s seasonally adjusted used-vehicle price index rose 1 percent […] [Read More]

With an interest rate increase widely expected to be handed out by the Federal Reserve, a quartet of experts gathered by the American International Automobile Dealers Association for a webinar this week touched on what impact the move might have on auto financing. If an increase of 25 basis points comes from the Fed that’ […] [Read More]

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]