PassTime now has a stronger argument about the potential benefits of its GPS devices beyond the payment-increasing potential for buy-here, pay-here dealers and finance companies. A Philadelphia woman, whose abduction was caught on tape, has been rescued — and her suspected kidnapper arrested — in part with help from GPS of a PassTime device. Carlesha […] [Read More]

It’s likely that certified pre-owned sales won’t just hit an all-time high for the fourth straight year. The CPO market will probably break another record in 2015 and then again in years to come. That’s according to a presentation made by Cox Automotive leaders on Thursday morning in Detroit during the release of the 2014 AutoTrader.com […] [Read More]

The investment firm that oversees two subprime auto finance companies — Flagship Credit Acceptance and CarFinance Capital — announced on Thursday that it is merging the two operations together. Officials from the alternative asset management unit of Perella Weinberg Partners explained the combined company now will total assets in excess of $2 billion. “Since forming […] [Read More]

With the recent announcement that the company will be entering the vehicle valuation market, it is evident CarProof has had a busy couple of years. Just last year, it jumped into the reconditioning market with its new RECON tool, and with its latest acquisition of Canadian Red Book, the company will be launching the first […] [Read More]

AutoCanada Inc. announced Wednesday it has received approval from BMW Canada to purchase an 85-percent interest in the assets, including land and building, of Auto Boulevard St. Martin Inc. Auto Boulevard owns and operates BMW Laval and MINI Laval in Laval, Quebec. The dealerships, which currently run out of a 134,566 square foot facility, include […] [Read More]

The October reading of the Manheim Canada Used Vehicle Value Index was 7 points stronger than the year-ago level and almost 5 points higher than September’s index, according to an analysis provided by Manheim this week. Among the individual segments, the ones that saw sequential gains were luxury cars (up 8 points), midsize units (up […] [Read More]

One adjective summarized the latest Dealertrack Technologies TradeTracker Used Vehicle Market Report: consistent. There was only one deviation in the trends for the past month, the past three months and year-to-date when Dealertrack highlighted both the top five vehicles overall appraised by dealers as well as the top vehicles being looked at by trade-in owners in […] [Read More]

This is how good October was for the certified pre-owned business. For just the fifth time in history, the industry moved more than 200,000 certified vehicles in a single month, Autodata Corp said in a sales recap Wednesday. The 202,409 CPO sales for the month marked a 13.8-percent year-over-year increase and a 7.5-percent hike from […] [Read More]

Under a definitive agreement announced Wednesday, Contact At Once will be acquired by digital engagement solutions provider LivePerson in a deal worth at least $65 million. Here’s how the merger agreement shakes out: LivePerson is set to acquire all of Contact At Once’s outstanding equity interests. The aforementioned price tag would include about $43 million […] [Read More]

Auto Remarketing has learned that Brent Huisman of Santander Consumer USA has moved to a new role within the company. Huisman is now executive vice president of asset remarketing. In this role, he will directly supervise asset remarketing, action reconditioning, internal and external sales as well as Chrysler Capital lease returns.  Huisman has been with […] [Read More]