Fitch Ratings is expecting spring flowers to bloom as well as ABS performance in both the subprime and prime markets to blossom, too. Analysts indicated loss trends changed direction for both U.S. prime and subprime auto ABS in March, and they explained the common denominator is that both sectors are set to benefit with the […] [Read More]

Security National Automotive Acceptance Co. (SNAAC) recently opened a second office in Cincinnati. Company officials highlighted more than 60 associates moved into the new space consisting of 14,500 square feet in the Triangle Office of Mason building. SNAAC indicated the move allows for the accommodation of new associates at the headquarters building on Cintas Boulevard. […] [Read More]

CU Direct Connect (CUDC), which provides indirect auto lending services to credit unions and dealers, recently launched a program with Alliant Credit Union, based in Chicago. With CUDC’s expansion outside of Colorado, company management called Alliant a valuable partner, helping the firm support its larger dealer partners. “We are thrilled to welcome Alliant Credit Union […] [Read More]

Cox Automotive and Porsche Cars North America have entered an agreement under which PCNA will use Actuos — the portfolio management solution for Cox Automotive’s RMS Automotive — for off-lease vehicle management and decision-making. Under the deal, Porsche will use the Actuos Vehicle Return and Actuos Vehicle Remarketing modules. These are designed to help the […] [Read More]

On Thursday, FICO, LexisNexis Risk Solutions and Equifax described details of a pilot program currently underway that could eventually enhance the underwriting and origination endeavors of auto finance companies. Officials highlighted the pilot program allows 12 of the largest credit card issuers in the U.S. to use alternative data to identify creditworthy individuals who would […] [Read More]

Dent Wizard International announced Thursday the introduction of Ready Line Express, a vehicle reconditioning program designed for rental companies.                             Ready Line Express consolidates paintless dent removal, minor paint, bumper repair, wheel repair and interior repair into its program, which focuses on fast, quality […] [Read More]

CarMax’s in-house auction arm, whose fiscal year ended Feb. 28, recently accomplished something it had never done before — it exceeded $1,000 in profit, per wholesale vehicle, in its fourth quarter. To be exact, the wholesale vehicle gross profit for the quarter was $1,036, a roughly 9-percent year-over-year increase. When asked what fueled that kind […] [Read More]

The effects of a recall can do quite a bit more harm to a vehicle’s image than the immediate problems they typically cause – they can also dramatically accelerate their rate of value depreciation. That’s according to the analysts at iSeeCars.com, who recently released the results of a study they conducted to see the effect […] [Read More]

Last month’s certified pre-owned sales figure narrowly missed the all-time record set in August, but March ended up completing what was the best quarter ever for the CPO market, according to Autodata Corp. Not to mention, the daily sales rate in March (8,883) was the strongest ever recorded in a month, Autodata said, and six all-time monthly CPO […] [Read More]

One of the most profitable areas of the dealership — if not the most profitable — is the service department. And what is the backbone for a successful service department? The people, and that, of course, includes your technicians. Unfortunately, there appears to be a widespread shortage. One of the most consistent comments made by […] [Read More]