Underbanked consumer data, analytics and risk scoring solutions provider FactorTrust formed a partnership this week with defi SOLUTIONS, which developed a browser-based loan origination system (LOS). The companies highlighted they reached this alliance because non-prime auto finance companies need access to detailed customer files in order to make informed underwriting. Now, operations that utilize defi […] [Read More]

Back when the Internet was still young and the automotive industry had not fully embraced it, those dealers who were utilizing it to expose their inventory online were still having trouble with images. Some cars had them. Others did not. Some had 40 images. Others had one. The websites and classified listings that were getting […] [Read More]

Auto Remarketing has learned that former Indiana Auto Auction vice president and general manager Dale Flora passed away on Wednesday. He was 69. According to an obituary posted here on the website of McElhaney-Hart Funeral Home, Flora held those leadership roles at Indiana Auto Auction for 39 years before retiring in August 2009. In addition to his roles […] [Read More]

Not so long ago, and not too far away, one of my past managers started working for a dealer I know. We were discussing the state of the dealer’s current business, and the conversation went to 20 Groups. This dealer, like so many others in the country, began by operating on his own “private island.” […] [Read More]

Everyday battles. Sales waning. Cars breaking down. Lapsed insurance. Repos. Low working capital. Do you feel like you’re losing? Every day in buy-here, pay-here operations across this great country, dealers are asking similar questions: —Where do I go from here? —Is there something practical I can do to alleviate some of these day-to-day struggles? I […] [Read More]

The year-over-year decline in bankruptcies recorded in July is leaving the American Bankruptcy Institute thinking that this year’s total could end up being the lowest figure in seven years. According to data provided by Epiq Systems, ABI indicated total bankruptcy filings in the United States decreased 12 percent in July compared to July of last […] [Read More]

The largest contingent ever attended the most recent BHPH Boot Camp hosted by the National Alliance of Buy-Here, Pay-Here Dealers at the site of iCars, Ingram Walters’ dealership in Monroe, N.C. A total of 27 attendees from 15 different dealerships from throughout the U.S. took the opportunity to examine all parts of the BHPH operation […] [Read More]

It’s one of the most stress creating notices anyone can receive. The Internal Revenue Service wants to conduct an audit. And for buy-here, pay-here operators, the complexities of explaining how their businesses function to a federal regulator who might not be at all familiar with how a typical BHPH store and related finance company work […] [Read More]

The latest expansion move and membership services upgrade for the National Auto Auction Association came Thursday: NAAA announced it has acquired an information technology company known as Kink Or Bend LLC that can help auction members determine if they need to disclose quarter panel replacement on a vehicle. The company’s specialty is in developing online resources […] [Read More]

This morning, Cox Enterprises announced the formation of Cox Automotive, an entity that includes more than 20 wholesale and retail auto brands — among them Manheim, AutoTrader.com and Kelley Blue Book. Forming Cox Automotive, officials said, “further strengthens the company’s investment in the automotive industry and provides end-to-end global solutions for customers throughout the vehicle lifecycle.” […] [Read More]