A wide array of service providers now operate to help finance companies keep payments coming into their coffers along with ways so customers can stay current on their vehicle installment contracts, especially individuals who might fall into the growing underbanked population. With the payment industry expanding, the Consumer Financial Protection Bureau stepped in on Thursday […] [Read More]

There might be less potential buyers coming to your buy-here, pay-here dealership — or current customers in your related finance company’s portfolio — who filed bankruptcy at some point since January. The American Bankruptcy Institute said that total bankruptcy filings registered nationwide during the first six months of this year came in 12 percent lower […] [Read More]

Automotive reconditioning company Dent Wizard International has launched a service plan for dealerships that acts as a way for service departments to connect with customers. The company has taken Ding Shield — already sold in dealership F&I offices — and created a program to target customer loyalty, as well as boost revenue in service drives […] [Read More]

Canadian dealers, especially in some of the country’s largest markets, nowadays find themselves in an interesting situation. They can put in all the work associated with the retail sale of a vehicle in their inventory to someone in their market. Or they can take that same vehicle to auction and, oftentimes, get a comparable amount […] [Read More]

Auto Remarketing has learned that General Motors and GM Financial are consolidating their remarketing organizations in the U.S. under the GM Financial brand. GM Financial sent an overview of the consolidation to Auto Remarketing on Wednesday, in which it explained the alignment in great detail. GM Financial will continue to sell vehicles at Manheim, ADESA and independent […] [Read More]

Make it nine in a row for Karl Chevrolet. The Iowa dealer and Auto Remarketing’s 2011 CPO Dealer of the Year has now won the National Sales Leader award from the General Motors certified pre-owned program for the ninth straight year after leading the pack with 1,791 CPO sales in 2014. “Reaching this level of sales […] [Read More]

Manheim New York was one of 18 organizations recognized by the Light Energy Efficiency in Parking (LEEP) Campaign for its efficient lighting. The Manheim location was awarded the “Highest Absolute Annual Savings in a Retrofit at a Single Parking Area” award. The location honored replaced its medium and high-wattage metal halide fixtures with LED fixtures, […] [Read More]

The Consumer Financial Protection Bureau issuance of the larger participant rule last month came as little surprise to much of the industry. But SecureClose chief legal officer Steve Levine said many buy-here, pay-here dealers and other finance companies may not realize how far the rule will reach — likely impacting more than just large participants. […] [Read More]

In June depreciation for cars was significantly higher than for trucks and larger vehicles. But during the first week of July, some of the larger models began to experience more downward pressure on auction prices. According to the latest Black Book Market Insights report, the Fourth of July holiday week brought with it large declines […] [Read More]

The Costco Auto Program announced Wednesday that it saw nearly double the demand for its parts, service and accessories benefit during the month of June. That’s compared to the daily average recorded by the company from January through May of this year, a benefit Costco launched for its auto program members in the spring of […] [Read More]