Ascertaining specific figures as to what is the prudent amount to spend on reconditioning can be a bit of a challenge, according to industry experts who crunch wholesale numbers for a living. While neither ADESA’s Tom Kontos nor Manheim’s Tom Webb shared a specific dollar amount with Auto Remarketing, each economist did explain how grade […] [Read More]

NextGear Capital recently added the EDGE ASI Auction Operating System to its floor planning integration with AuctionACCESS. As a result of this integration, NextGear Capital president Brian Geitner highlighted that all auctions on the Edge ASI system will have the ability to receive updated NextGear Capital credit availability and originate floor plan transactions through the […] [Read More]

A substantial American viewership for the 2014 World Cup was expected — but the resulting record-breaking number of people tuning in to the tournament shattered all expectations. And the car brands who may benefit the most? Kia, Hyundai and Volkswagen. Over 26 million people in the U.S. viewed the World Cup Final between Germany and […] [Read More]

Westlake Financial Services announced this week that it closed its fifth term asset backed securitization (ABS) on May 28 in a bond offering increased from $275 million to $321 million due to significant investor demand.  The company highlighted five classes of bonds were offered, ranging from A1+ to BBB. Westlake also noted all were at […] [Read More]

During a free webinar set for Thursday, Dealertrack Technologies associate general counsel Randy Henrick plans to revisit a topic he’s often discussed with SubPrime Auto Finance News. Henrick will explain why he believes the Federal Trade Commission is intensifying its pursuit of dealers engaging in deceptive advertising activity. During the session, Henrick will provide examples […] [Read More]

Back in March, Consumer Financial Protection Bureau director Richard Cordray referred to complaints as the agency’s “compass,” because these consumer statements “make a difference by informing our work and helping us identify and prioritize problems for potential action.” If policy changes the CFPB suggested this week come to be, Cordray and the rest of the […] [Read More]

As analysts predict that expanding off-lease volume will start pushing downward on used-car prices at a more rapid pace in the second half of the year, auction prices are expected to continue falling this week. According to NADA AuctionNet data, wholesale prices are expected to drop by an average of 0.5 percent or $75. David […] [Read More]

Success in buy-here, pay-here is frequently measured by how many vehicles a dealer sells each month or year. Although sales are important, this commentary will focus on other areas which are important to BHPH success. “Keeping them sold” is important to long-term success and requires good underwriting and collections, efficient systems and processes, a cash […] [Read More]

Canadian dealers have heard rumors of expanding used supply for a few years now, but the process has been slow. According to the latest Canada Industry Report from ALG, more used units are set to begin flowing in — but again, it will not happen overnight. ALG predicts that between this month and July 2018, […] [Read More]

The well-known blue-and-white Hyundai dealership look will soon be a thing of the past. Hyundai Auto Canada Corp. announced this week that it has begun to adopt Hyundai’s new Global Dealership Space Identity initiative. The redesign, which will start with all new dealerships being built worldwide and progressively update existing dealerships, starts with a major […] [Read More]