Agora Data secured what it called a “milestone accomplishment” toward strengthening its position in the multi-billion-dollar public capital markets. The fintech innovator of advanced capital solutions in subprime and non-prime consumer finance on Tuesday announced the successful completion of its first rated asset-backed securitization — a $112 million transaction. Agora said the 144A auto loan […] [Read More]

Melinda Zabritski, Experian’s head of automotive financial insights and one of the analysts among this year’s Automotive Intelligence Award recipients, returned for another appearance on the Auto Remarketing Podcast. Zabritski described what elements were in place to help banks gain more market share during the first quarter, what’s intriguing about the buy-here, pay-here market, and […] [Read More]

Auto industry training platform RockED is teaming with NCM Associates, a provider of 20 Groups, consulting, coaching, training and data reporting in a partnership that will bring RockED to automotive dealerships nationwide. In a news release, RockED said the collaboration will give dealers training content intended to “close productivity gaps and drive greater efficiency at […] [Read More]

If there’s one thing Lithia & Driveway is not doing, it’s standing still. The industry’s most active dealership group in the buy-sell market continued its aggressive approach this week with the acquisition of two Mercedes-Benz dealerships in the South. The purchase of Mercedes-Benz of Jackson in Jackson, Miss., and Mercedes-Benz of Collierville in suburban Memphis […] [Read More]

Sometimes things can be too easy. That’s the premise of a new national ad campaign for Carvana starring actor Jon Hamm, designed to show how easy it is for consumers to sell their car to the online used-car retailer. In the campaign’s first 30-second spot, titled “Excuses,” Hamm tries to get out of an awkward […] [Read More]

The automotive retail industry is experiencing fundamental modernization. While much of the conversation has centered around electrification and digital retailing, another powerful force is quietly changing the way dealerships operate — intelligent machines. Often associated solely with sales or advertising automation, machines are increasingly being used to optimize back-end dealership strategies in areas like inventory […] [Read More]

Perhaps after their ability to maintain their monthly payments, the next most important characteristic independent and buy-here, pay-here dealers want to know about their customers is if they have valid car insurance. On Tuesday, Modives announced a partnership to embed CheckMy Driver’s insurance verification and monitoring application into DealerCenter’s Dealer Management System (DMS), creating the […] [Read More]

Along with giving its annual awards, the National Automotive Finance Association elected five new members to its board of directors during last week’s Non-Prime Auto Financing Conference in Plano, Texas. Beginning a two-year term following a vote held during the membership meeting, the newly elected directors include: —Mike Akers, president and CEO of Hello Credit […] [Read More]

Clutch now has a meeting place. The Canadian online used-car retailer has opened its first Customer Hub, a space in Cadillac Fairview Markville Mall in Markham, Ontario, that the company said “marks a significant milestone in Clutch’s mission to make buying and selling pre-owned cars easier, more convenient and more accessible for all Canadians.” The […] [Read More]

Dealerlogix, an all-in-one fixed operations software suite for dealership service departments, has been approved as a certified provider in Volkswagen’s eConnect program. Dealerlogix provides retention text communications through its Text2Drive product, providing online service scheduling, service valet, service lane check-in, electronic multipoint inspections with video and pictures, mobile payments with fraud protection, bilateral DMS communications […] [Read More]