When Equifax auto finance leader Lou Loquasto went into a gathering of state and federal regulators hosted by the American Financial Services Association this week, he arrived with the freshest data the credit reporting agency released just a couple of hours before a panel session. Armed with information about steady but not fire-alarming-triggering trends, Loquasto […] [Read More]

FactorTrust, a provider of underbanked consumer data, analytics and risk scoring solutions on those underserved by traditional banking channels, announced this week that subprime auto finance company AFS Acceptance is its newest client. Utilizing FactorTrust’s proprietary data and custom scoring models, officials highlighted AFS Acceptance now has the ability to better qualify customers and provide […] [Read More]

F&I Express executive vice president Rich Apicella cautioned auto finance companies about the need to track down and distribute customer refunds for cancelled ancillary products. Otherwise, Apicella warned that finance companies run the risk of penalties from regulators. As part of a panel presentation at the recent National Automotive Finance Association Non-Prime Auto Financing Conference […] [Read More]

As the auto finance industry continues through an era of record growth, FICO acknowledged the challenges finance companies face have even greater ramifications. FICO stressed that finance companies need to align customer risk with operational efforts while providing exceptional customer service and implementing winning marketing and retention strategies. In an effort to enhance all of […] [Read More]

Results from the fourth annual Vincentric Best Fleet Value in Canada awards were announced today, with Ford and Toyota coming out on top. Ford pulled ahead due to the strength of its trucks and vans, while Toyota notched wins across a variety of vehicle categories. Ford swept three out of four pickup categories, recognized for […] [Read More]

The growing dealer group OpenRoad announced Thursday it has joined SiriusXM Canada’s pre-owned vehicles program. Through the partnership, the Vancouver-based dealer group will now offer complimentary three-month SiriusXM subscriptions with all pre-owned vehicle purchases equipped with satellite radio. "At OpenRoad, we strive to take our customer experience to the next level, whether they're purchasing or […] [Read More]

As we gear up for the inaugural DrivingSales Canadian Dealer Forum, we realize that automotive needs are unique to buyers in their geographical area, and after years of requests from Canadian dealers, we will head across the boarder to focus on content for Canadian dealers by Canadian dealers. On June 22-23, 2015, attendees will discuss the […] [Read More]

Dealertrack Technologies’ TradeTracker Used Vehicle Market Report reflected another solid month for trucks in Canada for the month of May, with the Ford F-150 continuing to top the charts as the vehicle most appraised overall at dealerships across the country, perpetuating three-month and year-long trends. Another interesting angle, from that of the report’s brand of […] [Read More]

With the number of subprime loans originated year-to-date approaching the 1-million mark, the latest Equifax National Consumer Credit Trends Report indicated severe delinquency rates are the lowest they have been in nearly a decade. Equifax reported the severe delinquency rate — the percentage of outstanding loans that are 60 or more days past due — […] [Read More]

ADESA announced on Wednesday its plans to rename two of its auctions in the Pittsburgh area. With its recent acquisition of Pittsburgh Auto Auction, ADESA now has three auctions in the area, also including ADESA Pittsburgh in Mercer, Pa., and ADESA PA in York, Pa. Because the newly acquired Pittsburgh AA is located closer to the […] [Read More]