If there’s any doubt to how much the used-car market has grown post-recession, consider the following data from Edmunds.com that compares used sales data from the first quarters of 2010 and 2015, respectively. Sourced from Edmunds’ Q1 2015 Used Vehicle Market Report, these four statistics give a clear indication of how strong the market has […] [Read More]

If buyers keep their vehicles for the duration of the installment contract, dealerships and finance companies likely won’t see these consumers again for another purchase until 2020 or possibly beyond — an assertion stemming from the record-setting term metrics Experian Automotive reported on Monday. Analysts determined longer-term loans for both new and used vehicles are […] [Read More]

Here is a possible reason why your subprime customer who might have been current on their vehicle installment contract suddenly slipped into delinquent status. The latest in a series of consumer analysis reports from the Federal Reserve showed 47 percent of respondents say they either could not cover an emergency expense costing $400, or would […] [Read More]

In honor of the just concluded Military Appreciation Month, Security National Automotive Acceptance Co. (SNAAC) made a $20,000 donation to USA Cares. As part of its commitment to honor the men and women that serve our country, SNAAC has donated $45,000 to USA Cares during the past three years. In addition to the corporate donation, […] [Read More]

With financing being one of the biggest pain-points for shoppers, it seems dealers don’t mind shelling out a bit more for better service from their financing companies and captives. According to J.D. Power’s 2015 Canadian Dealer Financing Satisfaction Study, good service and fast contract funding for consumer-facing products come before low pricing in Canada’s auto […] [Read More]

In the movie “City Slickers II: The Legend of Curly’s Gold,” Billy Crystal’s character is inspired on his 40th birthday to take a trip with his best pal and his brother in search of hidden treasures. As you may remember, the trio played by Crystal, Daniel Stern and Jon Lovitz then navigate through a rather […] [Read More]

Registration is now open for the 2015 International Automotive Remarketers Alliance Summer Remarketing Roundtable, which is being held August 17-20 at the Hilton Fort Worth in Fort Worth, Texas.  Registration can be completed here. The program for the IARA Summer Roundtable is also available online. Among the highlights: — Two roundtable sessions, which will repeat. — […] [Read More]

CARPHORIA announced Thursday that it has been selected as a recipient of the 2015 BBB Award for Excellence. The company received the Winner of Distinction Award at an award ceremony earlier in May. “Commitment to an exceptional consumer experience is exactly what CARPHORIA is founded on,” said Michael Dodd, CARPHORIA president and chief executive officer. […] [Read More]

For most auctions, no-sales mean less money, and the numbers of units not selling as they cross the auction block tends to grow as we approach the summer months. That said, Manheim is now offering what they call a “second chance” for these vehicles. The company announced the nationwide rollout of 2nd Chance Sale, a […] [Read More]

Copart reported its financial results for its fiscal third quarter ending April 30 on Wednesday, highlighting the impact of how the strengthening U.S. dollar and lower scrap values affected its year-over-year results. The company experienced a year-over-year decrease in revenue and gross margin along with a substantial increase in net income for the quarter. Third quarter […] [Read More]