Bankruptcy filing in the U.S. took a double-digit slide this past month. That’s according to data provided by Epiq Systems Inc. to the American Bankruptcy Institute, which showed total bankruptcy filings fell by 12 percent year-over-year in October. Overall filings totaled 78,957 last month, down from 89,948 filed during October 2013, with Tennessee and Alabama […] [Read More]

October didn’t disappoint as a month that historically brings about some pretty dramatic price drops in the lanes. Overall, the average price of a used vehicle for model years 2009 through 2013 saw the largest wholesale price drops this year with a 2-percent decline. And according to Black Book data, this past month, two car […] [Read More]

Here’s something from the 2014 AutoTrader.com Certified Pre-Owned Study that might surprise you about what CPO shoppers are really after. In the portion of the study dealing with owners of certified cars, AutoTrader discovered that all of the intricate details of a given manufacturer’s CPO program were not as pertinent to the consumer as the […] [Read More]

To illustrate one approach to his dealership’s success, there’s an example Scott Fink uses that most of us can likely relate to — whether we’re in the dealership world or not. If he was traveling to a new city and a friend recommends a restaurant, that’s where Fink is eating, period — the referral is […] [Read More]

With dealers shifting to “acquisition mode” in October, wholesale prices ended a five-month streak of declines, according to analysis in the Manheim Used Vehicle Value Index released Friday morning. The report indicates that wholesale values (on a mix-, mileage- and seasonally adjusted basis) climbed last month, following five consecutive months of downward movement. The Manheim […] [Read More]

CalAmp enhanced its vehicle finance payment assurance solution, LenderOutlook, to incorporate a function previously available only to its fleet customers. Now CalAmp’s new mileage management feature within LenderOutlook can enable lease-here, pay-here (LHPH) dealers and larger finance companies to directly measure and monitor the number of miles driven on a leased vehicle.  CalAmp has provided mileage […] [Read More]

Karen Nelson’s career as a collector began while she was earning money for her tuition to attend Old Dominion University. Nelson worked her way through school by handling the day-in, day-out chores of a collector and graduated with a degree in finance. And now more than two decades later, Nelson remains in the collections business […] [Read More]

ADESA released this week the changes to its auction management teams at locations in Phoenix and Atlanta. Ryan Edwards, formerly ADESA Atlanta’s general manager, takes on the position of GM of ADESA Phoenix; Mark Brunn will fill Edwards’ previous position in Atlanta. “Ryan has been dedicated to making ADESA Atlanta an award-winning auction during the […] [Read More]

When the Great Recession began to grip the economy, Westlake Financial Services president Ian Anderson said the company installed a trio of values to help it navigate through a rougher period than many experts projected. Those values included people, purpose and passion. Anderson’s leadership guided by those values helped Westlake achieve record-shattering success. Sparked by […] [Read More]

CU Direct Connect, a leader in the Colorado automotive lending market that provides indirect auto lending services to credit unions and dealers, added another member to its network this week. Bringing Northern Colorado Credit Union of Greeley, Colo., into the network raised CUDC’s footprint to more than 35 credit unions. Northern Colorado Credit Union currently […] [Read More]