Despite consumer advocates insisting that rising auto financing default rates are mirroring the mortgage mess that triggered the most recent recession, Moody’s Investors Service explained that elevating delinquencies for loans originated by independent finance companies reflect a loosening of credit typical of the current expansionary consumer lending cycle. Analysts determined the rise does not indicate […] [Read More]

As its 19th annual Vehicle Finance Conference & Exposition begins this week in San Francisco, the American Financial Services Association welcomed six new active members, one commercial member and two business partners, several with connections to the auto finance industry. The new-member rundown includes: — Local Finance Co. is a family-owned and operated subprime auto […] [Read More]

Given the drumbeat of the Consumer Financial Protection Bureau and its increasing influence on dealership F&I practices and consumer finance, Automotive Compliance Consultants emphasized that dealership professionals must be fully equipped to understand and comply with regulations. Automotive Compliance Consultants president Terry Dortch pointed out that one such regulation specified by the CFPB is the […] [Read More]

Data mining, lead generation and sales opportunity provider AutoAlert recently hired two key vice presidents to steward a multi-million-dollar investment in its software tools and dealership performance-enhancing services. Joining AutoAlert are Tony Rhoades as vice president of product and James Burton as vice president of portfolio management. Rhoades is the former executive director of Information […] [Read More]

Ford announced Wednesday its plans for the further expansion of its SMART Technology program, or SMARTT, that it initially released in early 2014. One of the first tools introduced into the program was last year’s SMARTT Appointments, which gives customers an online option to schedule service with Ford and Lincoln service centers, selecting the needed […] [Read More]

Auto Remarketing has launched a new series this year called “Consignor Connection,” in which we catch up with a leading remarketing executive at a different consignor each month. In a Q-and-A format, we will talk to him or her about best practices, auction industry trends and more. The series debuts with Tom O'Connor, senior manager of […] [Read More]

NCM Associates has announced its plans to reveal its data management tool, LiveAudit, at the upcoming NADA Convention & Expo in San Francisco. The cloud-based application, which NCM claims is the “first-and-only-of-its-kind data management tool,” works with dealership accounting systems to “ensure accuracy and lessen the chance of fraud and financial mismanagement in every department.” Paul Faletti Jr., […] [Read More]

The Women’s Automotive Association International will present six women with its 2015 Spirit of Leadership Award in conjunction with upcoming NADA Convention & Expo activities in San Francisco. The award recognizes “outstanding professional achievements, community involvement, and contributions to the growth and progress of the automotive industry,” and this year it will honor: — Celeste […] [Read More]

ADESA announced Friday afternoon that it has realigned its dealer services division, which will be led by Keith Crerar. The team will include a few new members who will be regional dealer sales managers and regional online sales managers, while three existing positions will stay the same: Steve Dudash as executive director of major dealer […] [Read More]

DMEautomotive announced the debut of version 3.0 of its Driver Connect mobile app. The biggest highlight of the newest version of the application is its new tap-to-pay functionality, allowing consumers to pay for service via their phone after being alerted that their vehicle is ready for pickup. Mike Walther, president and chief executive officer of […] [Read More]