When Consumer Portfolio Services reported a year-end earnings per share increase of more than 35 percent, chairman and chief executive officer Brad Bradley not only highlighted that performance, but also how the company is preparing to answer questions from the Consumer Financial Protection Bureau and the U.S. Department of Justice. Bradley reiterated how CPS previously […] [Read More]

A Reuters report posted late last week indicated OneMain Financial might be sold to a subprime finance company that currently does not operate in the auto space. The report citing anonymous sources said Citigroup is in “advanced talks” to sell its consumer finance unit that originates vehicle installment contracts to subprime finance company Springleaf Holdings. […] [Read More]

Metrolina Credit Co., which specializes in subprime auto financing, recently opened its first branch outside of North Carolina. The newest addition to the company’s branch network of four full-service operations is located in Greenville, S.C.  The footprint growth also marks the company’s first expansion branch since Metrolina Credit was acquired by ML Credit Group a […] [Read More]

Gas prices fell dramatically during the second half of 2014 and still remain very low as 2015 gets underway and oil continues to lose value. This has sparked a ripple effect throughout the automotive remarketing industry, turning many consumers toward truck and SUV purchases, as well as pushing prices up in the auction lanes for […] [Read More]

TrueCar announced that it has partnered with several AAA locations in the western United States to provide upfront pricing information via its network of TrueCar Certified Dealers. The program, which began this month, allows AAA club members to go to their respective AAA car buying website to find vehicle pricing information. “Part of TrueCar’s heritage […] [Read More]

During his company’s latest earnings conference call, Jim Hallett said he didn’t have any acquisition news to share, but the KAR Auction Services chief executive officer did hint at what may be in the pipeline. “So, with that I have nothing to announce today, but I would say that over the coming months you should […] [Read More]

Remarketing of America announced recently that ADESA Sioux Falls is its first national auction of the year ROA BlueAward winner. The award is given to auctions who are ranked based on their performance against ROA’s productivity scorecard. The five areas of service, according to ROA, are: Percentage of sell price compared to MMR Time (days) […] [Read More]

AuctionACCESS announced recently that it has added AuctionCredit to its network of floor plan providers through the AuctionACCESS system. According to the company, AuctionACCESS auctions are now able to view updated AuctionCredit floor plan availability as well as initiate AuctionCredit floor plan transactions through the system. “We are pleased to partner with AuctionCredit and excited to […] [Read More]

As Dealers Auto Auction of Oklahoma City celebrated Mardi Gras in February, staff members at Flint Auto Auction — who are no strangers to snow and cold temperatures, being located in Michigan — successfully tackled the latest winter event that impacted much of the U.S. When Mother Nature drops a lots of snow all at […] [Read More]

On the surface, the statistics certainly suggest strong retention. There was a 3.6-percent month-over-month increase and a 2.4-percent year-over-year gain in wholesale prices last month, according to the latest data from ADESA Analytical Services. Based on this growth, it’s a valid assumption that this means the wholesale market is conditioned to take on the kind […] [Read More]