BraunAbility chose to extend its relationship with Ally Financial by launching a new financing program this week that is dedicated to providing the best customer experience for individuals looking to finance a mobility vehicle. Officials highlighted this new program, BraunAbility Finance, is designed to provide financing tools to help ensure mobility customers can afford the […] [Read More]

The Association of Finance and Insurance Professionals (AFIP) announced Brian Vance, the regional F&I manager in the Midwest office of Zurich North America, earned his master certification at an AFIP Certification Boot Camp in Overland Park, Kan., this summer. Vance is the second Zurich executive to earn master certification, following Scott Gagne, the Wisconsin regional […] [Read More]

National Automobile Dealers Association chairman Forrest McConnell reiterated his arguments this week against points made by federal regulators, especially the Consumer Financial Protection Bureau. McConnell emphasized in remarks to the Automotive Press Association in Detroit that dealers compete fiercely against each other on vehicle pricing, financing and service, which reduces costs for consumers. “Competing with […] [Read More]

Equifax reported the total balance of newly originated subprime auto loans stood at $70.7 billion in August, a level representing an eight-year high and 27.8 percent of the total balance of new auto loans. That’s a slight increase in share from the previous year. But Equifax auto finance leader Lou Loquasto pointed to a different […] [Read More]

Less than five months after debuting the Q auto program in Tampa, Fla., another stand-alone used-car store from Asbury Automotive Group has officially opened, the retailer announced this morning. The second store under the Q auto brand is located in Jacksonville, Fla. The company is aiming for Q auto to be a “different approach to car […] [Read More]

September marked the largest price decline for used vehicles all year, following seasonal trends most in the industry expect when the weather starts to cool. According to Black Book data, the average price of a used vehicle for model years 2009-2013 saw the largest monthly depreciation of 2014, falling by 1.7 percent last month. Interestingly, August […] [Read More]

Manheim chief economist Tom Webb determined wholesale used vehicle values declined by a little more than 2 percent in the third quarter, stating the market showed signs of returning to more normal levels after historically high prices earlier in the year. As a result, the Manheim Used Vehicle Value Index — a measure of wholesale […] [Read More]

Peer-to-peer used-vehicle marketplace Beepi announced Monday the closing of $60 million in Series B funding to aid in the company’s desired national expansion. The company, which began in April, originally catered its all-online buying and selling program to the San Francisco area with a more limited buying scope.  As of Sept. 5, Beepi announced customers […] [Read More]

With the Consumer Financial Protection Bureau shifting its focus more to automotive financing, one of the aspects of automotive deals that is under fire is dealer mark-ups, or bumps in interest rates. Dealer financing mark-ups have long been a accepted practice in the industry, but the CFPB contends this type of deal is ripe for discrimination. […] [Read More]

Amid certified pre-owned vehicle sales that are humming at a record pace, vendors that support the sector in various ways are coming together and could keep momentum going. In what may help the segment — since most CPO sales require financing — Equifax and Black Book are joining forces to aid what happens in the […] [Read More]