As members of Generation Y age, join the work force, have families — and, of course, purchase vehicles — many are turning to the used-car lot. In fact, these younger buyers are purchasing used cars much more often than older generations, such as Generation X and the Baby Boomers. That’s according to data from J.D. Power’s […] [Read More]

Though the temperature may be rising as we head into the last month of summer, auction prices seem to be dropping on a weekly basis. According to NADA’s AuctionNet data, prices are expected to drop by 0.3 percent, or $50, this week. The losses will be led by the luxury car segment, NADA automotive analyst […] [Read More]

This week, Volkswagen Group of America tapped Christian Dahlheim to be the new president and chief executive officer of VW Credit. Dahlheim takes the place of Andrew Stuart, who left the captive finance company earlier this summer to be the head of U.S. operations at TD Auto Finance. The automaker highlighted Dahlheim now will oversee […] [Read More]

The Republican-led U.S. House Financial Services Committee has conducted multiple hearings to investigate alleged discrimination at the Consumer Financial Protection Bureau, including a session with director Richard Cordray earlier this week. Now the lawmakers on the committee want the Government Accountability Office to investigate the CFPB’s organizational culture and management practices in light of allegations […] [Read More]

Several top industry players came to the defense of how subprime vehicle financing is operating nowadays after the unflattering picture they said The New York Times painted in an article a couple of weeks ago that’s since made its way around board rooms, quarterly conference calls and beyond. American Financial Services Association president and chief […] [Read More]

Used-car sales in July fell nearly 2 percent industry-wide and dipped more than 5 percent for franchised dealers, according to CNW Research. But dealers, particularly the franchised stores, should take heart. Trade-ins on new-vehicle sales will likely “spike” in August, CNW says, meaning franchised dealers should see a “solid” month on the pre-owned side. That would be on […] [Read More]

If you haven’t started actively considering how to attract more younger buyers, now might be the time to do so. According to a new study from J.D. Power, Generation Y consumers now make up a larger percentage of U.S. new-vehicle retail sales than their older Generation X counterparts. According to data collected by J.D. Power’s […] [Read More]

The early success of BHPH Report is prompting Cherokee Media Group to begin offering a print version of the new magazine dedicated to providing news and information about the buy-here, pay-here industry. Launched in January as a collaboration between SubPrime Auto Finance News and the National Alliance of Buy-Here, Pay-Here Dealers, BHPH Report had been […] [Read More]

I bet when you first got into buy-here, pay-here and worked to grow your portfolio, you were watching every dollar and paying close attention to details. How many of us learned more from trial and error than other sources available, like the National Alliance of Buy-Here, Pay-Here dealers and 20 groups? I hope you have […] [Read More]

Groupe Park Avenue announced this week it has decided to follow the industry trend and conduct business on Saturdays. The family owned dealer group, who is included in the upcoming Auto Remarketing Canada Digital Magazine’s Leading Dealer Groups in Canada issue, will begin offering its Saturday services on September 6. Norman Hebert, Groupe Park Avenue’s […] [Read More]