Advanced Lending & Portfolio Services (ALPS), a division of Westlake Financial Services, announced the acquisition of a $12.4-million bulk portfolio from Blackhawk Financial based out of Chicago. While revealed on Thursday, officials indicated the acquisition happened on March 19. Blackhawk Financial is an auto finance company operating out of seven states, mostly in the Midwest.  […] [Read More]

Inventory management and marketing solutions provider Liquid Motors announced Thursday the appointment of a new vice president of sales. Filling the position is 20-year industry veteran Joseph Cote, who most recently served as the national remarketing manager for United Auto Credit. “Joe brings a wealth of experience in the automotive industry particularly in the wholesale […] [Read More]

In an attempt to serve buy-here, pay-here operators, Wolters Kluwer Financial Services released an update to its AppOne platform, including the ability to accommodate multiple payment frequencies. Previously, the software only accommodated a monthly payment frequency. Now, officials highlighted the solution supports alternative payment frequencies which allows Wolters Kluwer Financial Services to better serve BHPH […] [Read More]

Dealertrack Technologies’ TradeTracker Used Vehicle Market Report for the month of April was recently released, reflecting another month of trade-in consistency for Canadian dealers. The Ford F-150 was once again the overall most-appraised vehicle in Canada, followed by the Toyota Corolla and the Honda Civic sedan, all following three-month and year-long trends. The Ford Escape […] [Read More]

Wholesale prices were on the way up last month as the market got over the winter hump and the spring selling season began. The Manheim Canada Used Vehicle Index was up by 2.5 points from March, rising to 113.4. This also is 10.5 points higher than levels seen in April 2014. Every vehicle segment showed […] [Read More]

The Ontario Motor Vehicle Industry Council proposed to its members in a recent bulletin an increase in fees to make sure OMVIC is adequately funded and able to administer the Motor Vehicle Dealers Act. The three fees that generate revenue for OMVIC that are being considered for price hikes are the salesperson renewal fee, (currently […] [Read More]

Dealertrack Technologies’ TradeTracker Used Vehicle Market Report for the month of April was recently released, reflecting another month of trade-in consistency for Canadian dealers. The Ford F-150 was once again the overall most-appraised vehicle in Canada, followed by the Toyota Corolla and the Honda Civic sedan, all following three-month and year-long trends. The Ford Escape […] [Read More]

KAR Auction Services reported year-over-year increases in revenue, adjusted EBITDA and net income during the first quarter as each of its three major divisions — ADESA, Insurance Auto Auctions and Automotive Finance Corp. — all registered jumps in gross profit. The company reported Q1 total revenue came in at $632.4 million — an increase of […] [Read More]

The roller-coaster that is lease credit approvals watched by Swapalease.com swung significantly again in April, rising to the highest point in six months. Site officials reported April’s metrics continued more volatility after they saw the approvals rate during the month come in at 78.6 percent. That level represented a 31.0-percent jump from the approvals rate […] [Read More]

In light of Auction Direct USA entering the certified pre-owned market through a partnership with NIADA, one of the questions that chief executive officer Todd Hoagey acknowledged people might have is this: why does the company need a CPO program? Speaking last week at the partnership’s kick-off event at the Auction Direct store in Raleigh, N.C., […] [Read More]