On the day CarMax Auto Finance completed the second quarter of its current fiscal year with a 6.2-percent increase in net income, the financing arm for the used-vehicle retailer came within the jurisdiction of the Consumer Financial Protection Bureau thanks to the larger participant rule. When asked how this additional regulatory burden might burden CAF’s […] [Read More]

EFG Companies this week announced student competitors and F&I mentors participating in the first F&I Innovator of the Year Award competition at Northwood University. The competition will pit six teams of Northwood’s junior and senior undergraduate automotive marketing and management students against one another to conceptualize and build a new F&I product while earning course […] [Read More]

Still on the fence about whether to attend the SubPrime Forum and other parts of Used Car Week? Well straight ahead is a free preview of how the financing dialogues and presentations will unfold with one of leading experts who will be getting the SubPrime Forum started. The next Used Car Week sneak peek webinar […] [Read More]

In addition to the negative impact on new VW sales, which will run into the billions, one can only imagine the damage that this cover-up will have on residual values. The world can scrap last month’s ALG lease residual guidebook. At lease termination, the current lease portfolio will experience significant losses. While, predicated on supply […] [Read More]

It’s no secret: Taking advantage of your buyer’s behavior will bring you more leads and can be what you need to edge out the competition. As Forbes Magazine puts it, "When you find the gaps between what your competitors are doing and what the market wants, your own value proposition and strategy becomes sharper." So, […] [Read More]

Less than a week after the U.S. Environmental Protection Agency issued a Notice of Violation of the Clean Air Act to Volkswagen, alleging five of the automaker’s diesel-powered vehicles include “defeat device” software that circumvent emissions standards, Environment Canada joined the field. Environment Canada announced on Tuesday it is opening an investigation into VW’s alleged […] [Read More]

On the heels of Auction Edge making a major acquisition announcement, KAR Auction Services indicated on Thursday that subsidiary Openlane agreed to build a private label website for Auction Edge, utilizing Openlane’s proprietary technology platform. The companies highlighted the private label website created for Auction Edge will be known as the EDGE Marketplace, which has […] [Read More]

A few handfuls of auctions were honored Wednesday at the NAAA Convention, as NextGear Capital, Enterprise Holdings and Chase Auto Finance revealed annual award winners. Plus, several more awards were announced at the NAAA's Opening Luncheon. Winning NextGear’s third annual Auction Partner Awards, which recognize independent auctions, were: Operational Excellence Award: Acadia Auto Auction in Richmond, Maine […] [Read More]

CarStory announced on Tuesday that Dealer Car Search has made the Inline CarStory Market Reports available to its dealer-customer subscribers. According to CarStory, the reports embed important vehicle research directly into a vehicle’s detail page, aiming to keep customers engaged on a dealership’s website. The information in CarStory’s market reports include insights generated from real-time […] [Read More]

When Cox Automotive first announced it was going to acquire Dealertrack Technologies, officials believed the deal would be finalized during the third quarter. The companies will just make that timeframe if the deadline for the fourth extension of the tender offer is met. The companies said on Wednesday that the offer previously set to expire […] [Read More]