Condor Capital is no longer originating and servicing vehicle installment contracts for dealers who cater to subprime customers in New York or more than two dozen other states. Just before the holiday, the New York Department of Financial Services submitted a final consent judgment to be approved by the Empire State’s court system to settle […] [Read More]

CarMax Auto Finance still is steadily originating subprime paper through its own test program as company executives continue to monitor the performance of this portfolio segment they launched last year. During the third quarter of its 2015 fiscal year, CarMax Auto Finance originated $12.3 million of loans through its subprime financing program. That amount represented […] [Read More]

2014, like many before it, was a year of ups and down. From art, sports and technology, all the way to the fear of disease, gains and losses were present in the ever-changing tapestry of human history. A lot of these topics are reflected in Canada’s top most-searched items on Google for 2014, which includes […] [Read More]

2014 was rife with reward and loss. From the passing of one of our nation’s finest actors to the world’s largest and most-viewed sports competition, Google trend data for our most recently eclipsed year sheds light on what our information-craving nation was most interested in, while a seemingly infinite wealth of human knowledge is available literally […] [Read More]

Flick Fusion is now offering an inventory video add-on to its video marketing platform. VidMagnet uses video search engine optimization techniques designed to drive more traffic from YouTube and other video websites directly to dealer sites. Here’s how it works: Typically, when a vehicle in an inventory video is bought, the video is taken down. […] [Read More]

There is one school of thought in the used-car market forecasting an impending, drastic drop in used-car prices. But Tom Folliard, CarMax's president and chief executive officer, says he doesn't expect anything extremely volatile to result from the coming months. In fact, he expects things will likely roll out in a predictable manner. When asked […] [Read More]

To wrap up another year of providing the wholesale and retail community with weekly auction price updates, Black Book editorial director Ricky Beggs offered a special two-part series. In the end-of-year “Used Car Market Report”, Beggs sits down with National Auto Auction Association president Ellie Johnson and president-elect Mike Browning to discuss this year’s highlights as well […] [Read More]

There will likely be a 10-percent increase in used vehicles ages 5 years old and newer in 2015 — and then expect continued growth for years to come. That’s according to forecasting data released in mid-December by TrueCar, which projects a normalization in used inventory this coming year. That should come as welcome news for many […] [Read More]

CarLingo — an online service provider geared to help consumers with their vehicle selection, establishing fair price, valuation of their trade-in and determining a monthly payment that fits their budget — recently launched a shopping resource center with information that spans across the five distinct phases of the shopping process. The center’s information covers: 1. […] [Read More]

ADESA announced right before the holidays the appointment of a new fleet/lease manager at ADESA Dallas. Ronna Webb, formerly the director of CRM and inside sales at ADESA, takes on the position of fleet/lease manager backed by 27 years of experience in the industry. “Ronna is an industry veteran with a proven track record of […] [Read More]