A new offering for the F&I department and service department that will help generate more revenue and potentially more used supply is about to hit the market. MyCarIsWorthLess.com — an online diminished value calculator — is launching its Diminished Value Protection Plan, a prepaid membership based service that helps eligible members recoup their diminished value after an […] [Read More]

This week, the Consumer Financial Protection Bureau finalized a rule to promote more effective privacy disclosures from financial institutions to their customers. The new rule, which was proposed in May, allows companies that limit their consumer data-sharing and meet other requirements to post their annual privacy notices online rather than delivering them individually.  “Consumers need […] [Read More]

Spireon introduced a revamped version of its collateral management platform to help vehicle finance companies on Wednesday. What the company dubbed GoldStar CMS is being billed as a revolutionary new tool geared to reduce the time and costs related to funding and servicing auto loans dramatically. The company highlighted GoldStar CMS as the next generation of […] [Read More]

Exeter Finance Corp. announced late Tuesday that chief executive officer Mark Floyd is stepping down from his role effective Nov. 3. While continuing to serve on the finance company’s board of directors to ensure a smooth transition, Floyd will turn the CEO post over to financial services industry veteran Thomas Anderson. “In 2010, I came […] [Read More]

In a recent discussion with Auto Remarketing, Scot Hall of Swapalease.com explained why he believes used-vehicle leasing makes sense, if the deals are put together carefully, particularly when it comes to certified pre-owned vehicles. To get a sense of how much CPO leasing currently exists — and all the opportunity and challenges that come with […] [Read More]

The Dealers Auto Auction of Oklahoma City recently announced the hire of a new factory manager. The auction’s owner and president, Gary Smith, revealed that Ricky Wicher will now be assuming the role of factory manager for DAA/OKC, moving from his previous role in the auction’s consignment sales department. “With his background in franchise dealer […] [Read More]

Perhaps the best way to describe the state of Asbury Automotive Group’s Q auto stand-alone used-car retail program would be this: it’s a work in progress that certainly has made some progress. Asbury opened a Jacksonville, Fla., Q auto store  in October — the company’s second Q auto location — and has plans to roll […] [Read More]

Auto Remarketing is hosting NADA Used Car Guide for a free webinar to help dealerships smooth out what consumers consider one of most dreaded parts of the buying process. During the free session titled, “Close More Deals, Negotiate Less,” a pair of NADA UGC experts will ask dealers how satisfied their customers are with the […] [Read More]

After wrapping up the weakest third quarter for used prices observed since 2002, fourth-quarter rates are expected to continue dropping as fall marks one of the softest seasons for the lanes. Black Book analysts reported on the eight segments expected to lead Q4 depreciation. The team predicts luxury-level segments, which has been dropping in price at a […] [Read More]

There were two key factors driving down used-car gross margins for Asbury Automotive Group during the third quarter, but the period had some very positive results in both pre-owned and overall results.  Starting with some of the used operational results, Asbury’s Q3 same-store used retail gross profit was up 1 percent at $31.9 million.  Executive vice president […] [Read More]