At a time when many auto finance companies are pulling back on credit availability, Santander Consumer USA rolled out an expanded program on Monday that’s tailored specifically to applicants who can have a great impact on the entire economy. Santander announced the expansion of its small business offering to all automotive dealers on its platform. […] [Read More]

Last week, the Consumer Financial Protection Bureau (CFPB) levied some harsh allegations and nearly $28 million in fines and penalties against TD Bank. The regulator said the bank “repeatedly” shared inaccurate, negative information about its customers to consumer reporting companies, including systemic errors about credit card delinquencies and bankruptcies. As a result, the CFPB ordered […] [Read More]

Sticker shock is real. That’s the message of a new report from Edmunds head of insights Jessica Caldwell that examines the disconnect between what car shoppers want to pay for their next vehicle and what the market says they’ll have to pay. The analysis is based on Edmunds’ data on new- and used-vehicle transactions, and […] [Read More]

Carvana has teamed up with the Professional Pickleball Association for the Road to the Finals sweepstakes, a contest that gives PPA fans a chance to win one of two vehicles provided by the online used-car retailer and a trip to the CIBC PPA Finals, coming up Dec. 4-9 in San Clemente, Calif. The sweepstakes will […] [Read More]

Just like some managers want their rows of cars on the dealership blacktop precise and uniform, the Standards for Technology in Automotive Retail (STAR) is continuing to make headway toward interoperability across the industry. On Thursday, the automotive IT standards organization announced the public release of the STAR XML Version 6.2.4 schema repository. Officials said […] [Read More]

As summer comes to an end, it’s important for dealerships to reflect on the season’s performance to refine their strategies for the rest of the year. The summer of 2024 presented many challenges, shaped by economic factors and shifts in consumer behaviors. Understanding these factors is important for optimizing inventory management and enhancing sales practices […] [Read More]

Experian senior director of product and innovation for automotive Kanchana Sundaram returned for another visit on the Auto Remarketing Podcast. This time, Sundaram explained the potential applications for dealerships and other parts of automotive connected with the findings of Experian’s 2024 U.S. Identity and Fraud Report, which delves into a wide range of consumer financial […] [Read More]

Safe-Guard Products International promoted two professionals who have combined to be with the provider of third-party private label protection products for the automotive, RV, marine, and powersports industries for nearly 20 years. Appointed to be chief financial officer is Joe Zhang and elevated to become chief risk officer is Alen Gong. “Joe and Alen’s roles […] [Read More]

Open Lending Corp. removed the interim tag on Thursday and made Chuck Jehl its CEO and a member of its board of directors, effective immediately. Jehl had served as the company’s interim CEO and chief operating officer since March. Open Lending said Jehl will continue to serve as its interim chief financial officer while the […] [Read More]

One month is a data point. Two months is … a trend? For the second month in a row, Canadian Black Book’s Used Vehicle Retention Index was up from the previous month, registering at 136.0 for August. That’s an increase of 0.6 points from July’s index of 135.4, which was up 0.1 from June. That […] [Read More]