Two former top executives at Exeter Finance secured a nine-figure amount of capital for their new venture — Praxis Finance. Founded by auto finance veterans Daniel Parry and Steve Moses, Praxis on Friday finalized the closing of an investment partnership with affiliates of global alternative investment management firm Varde Partners, which has committed up to […] [Read More]

If store managers and personnel can find 20 minutes in their schedule, they can take advantage of some of the added new training courses Ally Financial integrated into its Performance Development Center this week. In hopes of further expanding the scope of their educational offerings for dealers, company officials highlighted that the new courses address […] [Read More]

EFG Companies claims the results of its most recent dealer services client satisfaction study released this week show the company scored higher than outfits such as Apple iPhone, Southwest Airlines, USAA Banking and Insurance, and Nordstrom. Among the key findings, officials indicated dealers rated the account representative, compliance oversight and F&I training as the highest […] [Read More]

NextGear Capital appointed Adam Galema to the role of vice president of finance this week. In this role, Galema will lead the company's treasury, accounting, and financial planning and analysis (FP&A) teams while helping ensure NextGear Capital is positioned properly for future growth. “The true strength of any organization is its people, and nowhere is […] [Read More]

BillingTree opened its annual ARM Industry Operations, Technology & Payments Survey this week, marking the third consecutive year the company has underwritten the survey before publishing and distributing the results each spring. The survey is directed toward collection agency owners and senior executives, collection operation and IT staff plus compliance professionals within the industry. BillingTree […] [Read More]

Today marks the effective beginning of the Canada-Korea Free Trade Agreement (CKFTA) for Hyundai, making many of Hyundai’s 2015 models cheaper to buy in the country by as much as $1,300 off MSRP. The deal may also serve to bring more shoppers searching for a budget-friendly deal into Hyundai Canada dealerships. The landmark agreement is […] [Read More]

Carfax Canada and the Used Car Dealers Association of Ontario announced this week they are expanding their partnership to give used-car buyers and sellers UCDA claims reports. The latest development means every Carfax Vehicle History Report purchased by UCDA member dealers now comes with UCDA accident claims report at no additional cost. This is the […] [Read More]

It may be starting to sound like a broken record, but there’s no denying that Canada is the land of the F-150. Ford’s flagship truck remained the top dog in just about every possible category in TradeTracker’s December 2014 Used Vehicle Market Report, maintaining its No. 1 position as the most appraised vehicle for December, […] [Read More]

Trade-in values are on the rise and it appears that, once again, recent movements are particularly rosy for luxury segments, which have maintained the months-long edge they’ve had over their mainstream peers. The latest issue of Guidelines from NADA Used Car Guide indicates that, overall, there was a 1.2-percent month-over-month increase in trade-in values for the January […] [Read More]

Even though gas might cost about $2 a gallon in many parts of the country, potential buyers still might not be too keen on those fuel-thirsty rigs in your inventory. The J.D. Power 2015 U.S. Avoider Study indicated that fuel-economy remains the most influential factor among the majority of new-vehicle buyers in determining which vehicle […] [Read More]