ServNet president Patty Stanley acknowledged there are alternatives for remarketing vehicles such as wholesalers, dealer-to-dealer transactions and direct selling to consumers. But Stanley recently reinforced what auto auctions offer, highlighting six specific benefits. The owner of Carolina Auto Auction and Indiana Auto Auction covered a wide array of attributes and services when compiling her list, […] [Read More]

The National Independent Automobile Dealers Association handed out a group of awards last week at its annual convention and expo, that included inducting a new member in the NIADA Ring of Honor, Lifetime Achievement Awards, scholarships and more. First up, NIADA has inducted National Auto Auction Association chief executive officer Frank Hackett and NADA Used […] [Read More]

Late last week, TrueCar Inc. revealed a new tool aimed at developing more solutions to simplify the way cars are sold: TrueCar Labs. The company will use the initiative to deploy new products and solutions in their earliest phases to garner feedback from both shoppers and dealers. The company described the new development as “an […] [Read More]

Metrolina Credit Co., a specialty finance operation offering indirect auto financing solutions in the subprime credit space as well as consumer and personal loans direct to the public, recently made a partnership with The Plateau Group, an insurance and financial service provider. Metrolina president and chief executive officer Doug Marohn explained this partnership provides the […] [Read More]

Hyundai Capital America declared this week that it’s now the first captive auto finance company to provide free FICO scores to customers as part of the FICO Score Open Access Program. Hyundai Motor Finance and Kia Motors Finance will offer free FICO scores to new customers enrolling in the new 2014 College Grad Programs.  Officials […] [Read More]

A new survey by RateWatch, a banking data and analytics service owned by TheStreet, showed how many consumers are still unaware there are possible opportunities to refinance their vehicle purchase to a lower interest rate than the one set in the initial contract. Survey orchestrators found that many consumers overlook or are not interested in […] [Read More]

Used car price drops are expected to drop by over 1 percent at auction during this first week of summer. NADA Used Car Guide’s AuctionNet data indicates used-car prices will drop by 1.1 percent or $175 this week. Overall losses will be “moderate” said David Paris, automotive analyst at NADA UCG, but a few segments […] [Read More]

Interest among consumers in certified pre-owned vehicles continues to rise, including many Millennials and young professionals who may use CPO as an entry into the luxury car segment. With that in mind, Kelley Blue Book released its "10 Best Certified Pre-Owned Luxury Cars Under $30,000" — a list that may come in handy for a […] [Read More]

If you’re preparing to switch dealer management software, there are many things to consider as it relates to converting your data. How complete your data is in your new application will determine how effectively you can use the software. Here are important questions to ask your current DMS provider as well as the new provider […] [Read More]

In news relevant to both dealers and consumers, CarProof data reveals that more than one-third of the vehicles have a lien, or security for debt owing. The company shared, interestingly, this is a fact that most Canadians are “largely unaware of.” Specifically, CarProof’s study of vehicle history reports showed that 37 percent of vehicles in […] [Read More]