Buy-here, pay-here. In-house financing. Whatever you want to call it, the uptake of this business model in the Canadian automotive market has been nowhere near as prolific as it has in its neighboring country to the south. But the adoption of BHPH providers appears to be increasing. We at Auto Remarketing Canada, whose sister publications […] [Read More]

CarStory announced today an upgrade to its market reports, coined “Inline CarStory Market Reports,” which embed vehicle research information directly into a vehicle’s detail page (VDP) on a dealer’s website.                              The company said the aim of the product is to keep consumers from leaving a dealer’s website to […] [Read More]

Auto Remarketing has launched a new series this year called “Consignor Connection,” in which we catch up with a leading remarketing executive at a different consignor each month. In a Q&A format, we talk about best practices, auction industry trends and more. The latest in this series features Darrin Aiken, assistant vice president of vehicle remarketing at Wheels […] [Read More]

Enterprise Holdings plans to expand its offerings via two acquisitions it announced today. Operating primarily in the Brooklyn borough of New York, AllCar Rent-a-Car and the car-sharing service Carpingo, brands formerly owned by Citiwide Auto Leasing Inc., will be added to the Enterprise portfolio. Gil Cygler, Citiwide’s president, says he was drawn by Enterprise’s similar […] [Read More]

Car buyers are getting their hands on pricier vehicles more easily these days, and according to Edmunds.com, the record-pace leasing numbers are playing a big role, along with cheaper credit and a handful of positive overall economic factors. In a data report shared this week, Edmunds counts economic trends like lower employment, consumer confidence in the economy […] [Read More]

While officials said the complaint is not a finding or ruling that the finance company has actually violated the law, the Consumer Financial Protection Bureau sued Security National Automotive Acceptance Co. (SNAAC) today for aggressive debt collection tactics against servicemembers. In a complaint filed in federal court, the CFPB alleges that SNAAC used a combination […] [Read More]

Penske Automotive Group has promoted a new chief financial officer. J.D. Carlson, the company’s senior vice president and corporate controller, has been named executive vice president and CFO. This move was made following the announcement that David Jones is resigning from his role as EVP and CFO at Penske to accept a similar role with […] [Read More]

Auto loan defaults dropped to an historic low in May, according to the S&P/Experian Consumer Credit Default Indices released on Tuesday. Analysts for S&P Dow Jones Indices and Experian determined the auto loan default rate dipped by 8 basis points on a sequential basis and 7 basis points on a year-over-year comparison to settle at […] [Read More]

With actions possibly coming against another 11 dealerships in the Big Apple, New York attorney general Eric Schneiderman raked in a multi-million dollar settlement with three dealerships on Wednesday in a development associated with the alleged unlawful sale of credit repair and identity theft prevention services, and other “after-sale” items. Schneiderman reached this settlement with: […] [Read More]

In a move targeted at the subprime market, Spireon on Wednesday formed a strategic partnership with P360, a provider of loan-level data management and analytics. The companies highlighted the collaboration will provide a comprehensive portfolio solution to help auto finance companies to identify, calculate and monitor risk before it affects their business. By coupling P360’s data-driven […] [Read More]