With the firm’s Jitters Index improving significantly during the first part of month, CNW Research is expecting subprime vehicle financing approvals to climb both month-over-month and year-over-year in June. According to its June Retail Automotive Summary, CNW is seeing this month’s subprime approvals rise by 2.23 percent above the same period last year. The firm […] [Read More]

Though a Supreme Court decision last week only included a decision invalidating President’s Obama’s recess appointments to the National Labor Relations Board, the chairman of the U.S. House Financial Services Committee remains adamant that the president’s recess tapping of the director of the Consumer Financial Protection Bureau should be thrown out, too. The Supreme Court […] [Read More]

In his newest commentary to help finance companies generate the most revenue out of the sale of add-on products, FNI Inc. president David Bafumo spotted what he described as valuable new guidance from the Consumer Financial Protection Bureau in its latest consent order. Bafumo explained that for the first time, regulators have laid out a […] [Read More]

After upwards of 40 recalls this spring and a class action lawsuit launched against the company in April, a group of prominent GM Canada dealers is suing the company and its parent General Motors Co. Adria MacKenzie, corporate communications manager at GM Canada told Auto Remarketing Canada this morning, "A number of Toronto dealers have […] [Read More]

In an attempt to give the National Highway Traffic Safety Administration more funds and resources to handle the rising amount of vehicle recalls, the chairman of the U.S. Senate Commerce Committee introduced a bill that would create a federal vehicle usage fee. Sen. Jay Rockefeller included this proposed fee within the Motor Vehicle Safety Act […] [Read More]

Along with making its projection for this month’s new-vehicle sales total, Kelley Blue Book revealed this year’s list of what editors believe are the 10 Coolest Cars Under $18,000. Headlining this year’s group, along with being featured on KBB’s annual affordable “cool cars” list every year of the vehicle’s 11-year existence, was the redesigned Mazda3. […] [Read More]

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]