As part of our “Top 100 Used Car Dealers: Franchised Edition" issue of Auto Remarketing, we asked some of the nation’s leading franchised stores about the challenges they face in the pre-owned market and the strategies they use to overcome those hurdles. Below is what four of the Top Franchised Dealers had to say. Starting in the Midwest, […] [Read More]

The National Independent Automobile Dealers Association announced today that Cooper Tire has joined NIADA as the association’s newest National Member Benefit Partner. Cooper Tire, which is the fourth-largest tire manufacturer in the world, will offer a lucrative tire sales/service member benefit program for NIADA members. “Cooper is an excellent partner and we are proud to […] [Read More]

While a pair of industry associations indicated they weren’t blindsided when the Consumer Financial Protection Bureau released its final larger participant rule this week, an attorney with more than 30 years of experience cautioned finance company executives about not ignoring an important portion of what the CFPB emphasized. Along with the National Automotive Finance Association […] [Read More]

Southern Auto Finance Co. (SAFCo) recently hired a former American Credit Acceptance (ACA) executive to be chief operating officer of the subprime auto finance company. Joining SAFCo after having been COO of ACA since 2009 is Tom Holgate. “It’s an honor to have someone of Tom’s caliber join our team,” SAFCo founder and chief executive officer George […] [Read More]

Credit Acceptance Corp. announced that week that the company increased the amount of its revolving secured line of credit facility with a commercial bank syndicate. The company raised the line from $235.0 million to $310.0 million while also extending the maturity of the facility from June 23, 2017 to June 22, 2018. “There were no […] [Read More]

PassTime, a provider of GPS and payment assurance technology solutions, announced the company raised more than $10,000 during this year’s National Alliance of Buy-Here-Pay-Here Dealers Conference in Las Vegas. Through its “mustache campaign,” PassTime – a key sponsor and exhibitor of the conference — offered to make a donation for every photo taken at its […] [Read More]

When a race car driver finishes blazing through left turns around the track at nearly 200 mph, whom does he or she often thank during the post-race TV? That’s right. The driver gives props to the sponsors.   And we dig that.  We at Used Car Week love our sponsors, too. Just as it takes […] [Read More]

The Ontario Motor Vehicle Industry Council announced this week it has revoked a Toronto dealer’s license and fined an associated salesperson. The dealership, 1716114 Ontario Ltd. operating as Your Car Auto Finance (YCAF) and its sole officer and director, Derek Booth, have had their licenses revoked. The ruling came after OMVIC issued a Proposal to […] [Read More]

Wholesale prices are still way above pre-recession rates due to short supply, but seasonality may provide some relief for dealers this summer looking to stock up on inventory. Car and truck segments across the board took a depreciation hit in May. This is “in line with expected seasonality,” said Geoff Helby, ALG Canada regional director, […] [Read More]

While a portion of the commercial segment made a jump, the American Bankruptcy Institute reported total filings in the United States decreased 19 percent year-over-year in May. According to data provided by Epiq Systems, bankruptcy filings totaled 69,286 last month, down from the year-ago figure of 85,711. Officials noticed May’s consumer filings also declined 19 […] [Read More]