While outlining the five service offerings that will result from the development, executives from defi SOLUTIONS on Friday announced the acquisition of OpenRule Systems APM (Application Process Manager). They indicated the two companies will combine to create an even stronger technology team to serve finance companies seeking flexible and affordable loan origination technology. According to […] [Read More]

Used-vehicle sales for National Auto Auction Association member auctions totaled 8.7 million units in 2014, a sum worth $81.8 billion. The results, which came from the association’s 18th annual survey, also found the number of vehicles that entered its member auctions rose by 3.6 percent to 15.7 million units, and the number of units sold increased by 6.2 […] [Read More]

Black Book Lender Solutions wanted to give the industry analysis and information so dealerships and finance companies can handle the latest origination challenge. A potential buyer has a family budget cap for a monthly payment of roughly $400, but those stipulations demand that the vehicle installment contract term stretch to 84 months to get the […] [Read More]

In the company’s second securitization of the year, Exeter Finance Corp. announced the pricing of a $550 million securitization backed by automobile loan receivables. The private offering included four classes of fixed rate notes issued by Exeter Auto Receivables Trust (EART) 2015-2, which were priced on Tuesday. Company officials explained the $360,940,000 senior Class A notes […] [Read More]

Western Funding, a specialized auto finance company focusing on subprime credit, explained the benefits its Triple Pay reward program for dealerships while also reporting sustainable growth stemming from its first-quarter performance. With the launch of Triple Pay, the company highlighted that dealers have the opportunity to build a portfolio of accounts that can allow them […] [Read More]

Autosoft announced this week that MaximTrak Technologies’ F&I suite has completed the certification process for integration with FLEX DMS as part of Autosoft’s FLEX Connect program. Officials explained the MaximTrak F&I suite can help dealers transform the vehicle delivery process into a more customer-friendly experience that drives greater profitability. This integration certification means that more […] [Read More]

Technology in automotive dealerships has come a long way in the past decade, and now some stores equip their salespeople with tablets and have a dedicated e-commerce and marketing staff. That said, many dealerships either don’t have the resources for the aforementioned initiatives, or are not sure where to start to create a digital strategy. […] [Read More]

The AutoWurld subscription-based wholesale network now has transportation services available. The company has partnered with United Road, adding auto transport to the list of third-party volume-priced support services that AutoWurld member dealers receive at a discounted rate. That list also includes warranty and inspection services. The launch of AutoWurld was announced in early March, and […] [Read More]

Equifax is reporting two main indicators of auto finance market health — outstanding balances and severe delinquency rates — continue to move along steady upward courses. According to analyst data available through March, outstanding balances on total auto loans and leases increased 9.9 percent year-over-year to $985.6 billion. Equifax also indicated the number of outstanding […] [Read More]

The Policaro Automotive Family announced Tuesday that three of its premium dealerships have earned acknowledgements from their manufacturing partners for their sales performance and customer service. The three dealerships represent three different manufacturers, which include Acura 2000 and Northwest Lexus of Brampton, Ontario, as well as Porsche Centre Oakville. The awards were announced in separate […] [Read More]