Exeter Finance Corp. and Ally Financial each announced financial moves recently; one to increase borrowing capacity and the other to start a cash tender offer. Late last week, Exeter said that Exeter Funding II — a special purpose Delaware limited liability company and wholly owned subsidiary of the company — completed the renewal and extension […] [Read More]

BillingTree Payment Solutions appointed a new chief executive officer and president on Tuesday, going with a former top exec at FICO. Tapped for the role was Edgars “Edz” Sturans, who previously was president of CR Software — now a part of FICO — where he transformed the company into an accounts receivables management (ARM) Industry […] [Read More]

In a monthly-payment driven world, leasing is on the rise to points never seen before, especially for contracts connecting new vehicles and consumers with prime credit. But Swapalease.com executive vice president Scot Hall gave the industry a question to ponder. What if finance companies considered leasing used vehicles — in particular, certified pre-owned models — […] [Read More]

As summer was coming to a close, AutoTrader.com’s vehicle scarcity data experienced “significant shakeups” in August, the site reported to Auto Remarketing. Interestingly, the shifts were primarily due to renewed interest in models new to the list, rather than a decline in interest in the models that dropped off, according to the site’s analysis. Riding […] [Read More]

KCI Kansas City’s 5th Annual Guitars and Cars Sale brought over 1,000 buyers to the two-day sale for record-breaking results at the end of August. With more than 2,000 vehicles crossing the block, the auction successfully sold 58 percent of its consignment during the event. According to Doug Doll, the auction’s co-owner, the only thing […] [Read More]

With the National Auto Auction Association’s annual conference about to start, Manheim highlighted the success of its fast-growing mobile auction network, which is now available in more than 10 states and expanding soon into Canada. Even though the network has been operating for more than 10 years, Manheim highlighted dealers are still discovering this solution […] [Read More]

As we enter the fall market, auction prices are continuing to weaken. According to NADA AuctionNet data, prices are expected to drop by 0.7 percent or $100 this week. That’s after cars dropped by an average of $66 and the trucks fell by $45 last week, according to Black Book data. All the segments NADA […] [Read More]

The Canadian Vehicle Manufacturers' Association (CVMA) as well as the Global Automakers of Canada praised the Canadian government’s latest move to reduce vehicle greenhouse gases and smog causing emissions. The Environment Minister Leona Aglukkaq announced Monday expected amendments to Canada's greenhouse gas (GHG) and "Tier 3" emissions regulations for new light duty vehicles, as well […] [Read More]

One of the presenting sponsors of the Re3 Conference, Digital Recognition Network, announced three major personnel moves on Tuesday, including the return of the company founder. After departing from Recovery Database Network about a week ago, Todd Hodnett is returning to DRN as executive chairman. In this role, Hodnett will focus on the overall strategy […] [Read More]

Organizers of the North American Repossessors Summit (NARS), an industry event hosted by the American Recovery Association, announced their keynote speaker. Chosen for the role at the seventh annual event is Commander Rorke Denver, a decorated SEAL commander, training officer, author and actor. Denver will share military strategy and leadership lessons that attendees can use […] [Read More]