All of those vehicle installment contracts with terms of 72 months or longer are prompting one of the top federal regulators of commercial banks to keep a close eye on auto financing. The latest report from the Office of the Comptroller of the Currency indicated that agency officials continue “to closely monitor underwriting practices and […] [Read More]

OnlineBKmanager.com released findings of a study comparing the company’s exclusive daily lead program to its weekly program. The marketing provider’s study indicated the automotive bankruptcy market is consistent throughout the United States. The company noted dealers in small, medium and large markets are all experiencing a noticeable increase in sales when marketing to consumers who […] [Read More]

During the recent National Independent Automobile Dealers Convention, Equifax expanded its partnership with 700 Credit to offer dealers a more advanced level of income and employment verification capabilities. Officials recapped that Equifax income and employment solutions are powered by The Work Number, a Fair Credit Reporting Act (FCRA) compliant database.  The Work Number can provide payroll-direct […] [Read More]

On Wednesday, NextGear Capital appointed an executive with more than 25 years of industry experience to be its vice president of credit. Taking on this role is Patrick Inks, who will be responsible for the quality and consistency of our underwriting and credit processes to drive profit and risk balance. "NextGear Capital continues to grow […] [Read More]

Online auto marketplace AutoWurld is now offering a free mobile service to sell used cars. The company contends the new tool allows dealers and consumers to list used cars for sale in 60 seconds or less. AutoWurld Mobile — available for iOS and Android — enables smartphone and tablet users to scan the vehicle VIN, import […] [Read More]

Leasing drives loyalty.   This was one of several benefits of the leasing boom mentioned by Experian Automotive’s Melinda Zabritski during an interview with Auto Remarketing at January’s NADA Convention & Expo, and new loyalty data released this week by IHS Automotive indicates this certainly came to fruition during the remainder of the first quarter. […] [Read More]

DealerSocket has a simple suggestion for dealerships going into the Fourth of July weekend: Man the phones and make sure managers have a formal appointment confirmation process in place. Why? DealerSocket data showed 93 percent of phone leads resulted in a scheduled appointment. From that point, the results could mean plenty of fireworks going off […] [Read More]

Fleet management provider LeasePlan USA recently announced is expansion plans, including the addition of several employees in departments across the company. Its two newest sales professionals include Lisa Carter and Roston Willis. Carter joins the company as vice president of client relations, regional accounts while Willis takes on the role of vice president of sales, […] [Read More]

With the exception or the premium sporty cars, which traditionally see a boost in price closer to the summer months, all car segments are seeing historically expected price declines in the lanes. That said, according to the latest Black Book Market Insights report, trucks continue to “defy” seasonal patterns, holding strong retention at auction. Overall, […] [Read More]

Dealer solution provider String Automotive has announced several staffing changes, including a new chief operating offer and senior vice president of customer success.  Appointed to that role was Jessica Chaset. In this position, Chaset will be responsible for the customer-facing facets of the company, including account management, customer support, sales and marketing. “As String grows and works […] [Read More]