The Southeastern Auto Auction of Savannah hosted its annual “Masters Sale” and golf tournament earlier this month, feeding on the hype for The Masters Tournament and raising funds for the Shriners Hospital for Children. On May 6, the sale featured a free breakfast, free golf visors and over 900 vehicles; the sale concluded with over a […] [Read More]

The 2014 model-year crop of vehicles still dominates the volume at auction, according to NADA Used Car Guide, but here’s the catch. Volume for this class actually decreased month-over-month in April, and future declines could be in store, the latest Guidelines report indicated. “If last year's auction results for the 2013 model-year are any indication, […] [Read More]

As tax season came to an end, prices in the lanes began falling in April. According to NADA data, auction prices declined by 1.4 percent last month, causing its Used Vehicle Price Index to fall to 124.3, down from March’s level of 124.5 And per seasonal norms, that pace of decline is expected to pick […] [Read More]

Edmunds.com announced an update to its mobile application that gives customers the ability to send text messages to dealers.                    The texting solution uses the phone’s native texting platform, as opposed to a third-party application, allowing customers to text their dealer in much the same way they would friends or family. “More and […] [Read More]

While outlining the five service offerings that will result from the development, executives from defi SOLUTIONS on Friday announced the acquisition of OpenRule Systems APM (Application Process Manager). They indicated the two companies will combine to create an even stronger technology team to serve finance companies seeking flexible and affordable loan origination technology. According to […] [Read More]

Used-vehicle sales for National Auto Auction Association member auctions totaled 8.7 million units in 2014, a sum worth $81.8 billion. The results, which came from the association’s 18th annual survey, also found the number of vehicles that entered its member auctions rose by 3.6 percent to 15.7 million units, and the number of units sold increased by 6.2 […] [Read More]

Black Book Lender Solutions wanted to give the industry analysis and information so dealerships and finance companies can handle the latest origination challenge. A potential buyer has a family budget cap for a monthly payment of roughly $400, but those stipulations demand that the vehicle installment contract term stretch to 84 months to get the […] [Read More]

In the company’s second securitization of the year, Exeter Finance Corp. announced the pricing of a $550 million securitization backed by automobile loan receivables. The private offering included four classes of fixed rate notes issued by Exeter Auto Receivables Trust (EART) 2015-2, which were priced on Tuesday. Company officials explained the $360,940,000 senior Class A notes […] [Read More]

Western Funding, a specialized auto finance company focusing on subprime credit, explained the benefits its Triple Pay reward program for dealerships while also reporting sustainable growth stemming from its first-quarter performance. With the launch of Triple Pay, the company highlighted that dealers have the opportunity to build a portfolio of accounts that can allow them […] [Read More]

Autosoft announced this week that MaximTrak Technologies’ F&I suite has completed the certification process for integration with FLEX DMS as part of Autosoft’s FLEX Connect program. Officials explained the MaximTrak F&I suite can help dealers transform the vehicle delivery process into a more customer-friendly experience that drives greater profitability. This integration certification means that more […] [Read More]