TRADER Exchange — the company’s new dealer-to-dealer online auction tool — is scheduled to roll out to Ontario dealers by the end of 2014 with a national launch in 2015, and the company is already ramping up the offering to make sure both buyers and sellers are comfortable doing business. TRADER announced this week partnerships with both […] [Read More]

ServNet has added Winchester Auto Auction in Bunker Hill, W. Va. to its list of members. The auction has been owned by the Angelicchio family, also owners of Pittsburgh Auto Auction, since early 2014. Patty Stanley, ServNet’s president, believes the auctions ownership and ideal location will make it an ideal fit into ServNet’s auction family. “The Winchester […] [Read More]

In an exclusive interview with SubPrime Auto Finance News, Hudson Cook partner and former assistant director at the Consumer Financial Protection Bureau Rick Hackett offered quick-hitting analysis of the three main segments of the CFPB’s latest moves in connection with vehicle financing. First, Hackett acknowledged the threshold the CFPB established in its newest supervisory proposal […] [Read More]

Ontario dealers should, by now, be quite aware of the all-in pricing regulations enforced by the Ontario Motor Vehicle Industry Council. If not, you’ll want to be, because OMVIC is cracking down on violators of its consumer protection regulations. Just this week, OMVIC announced a fine for Platinum Cars Inc. for not abiding to the […] [Read More]

If a finance company makes, acquires, or refinances 10,000 or more vehicle loans or leases in a year, the Consumer Financial Protection Bureau is looking to become that operation’s primary regulator stemming from a proposal released late on Wednesday. The bureau said this proposed rule would generally allow the CFPB to supervise nonbank auto finance […] [Read More]

Does used-car leasing, particularly in the certified pre-owned space, make sense? At least one industry leader connected to the leasing side of business is saying yes — as long as it is done correctly. Around the time of the recession, many shied away from leasing, particularly on the used-car side. Meanwhile, new-car leasing has roared backed. […] [Read More]

TrueCar Inc. and the American Automobile Association renewed their agreement to continue to allow TrueCar to run AAA’s auto-buying program. The three-year agreement will continue to grant access to TrueCar’s haggle-free car-buying program for the more than 30 million AAA members. Scott Painter, TrueCar’s founder and chief executive officer, looks forward to continuing its partnerships […] [Read More]

Swapalease.com noticed consumers are looking for a specific kind of lease to assume — truck leases with less than eight months remaining on the contract. Site officials believe this trend is developing because lessees in certain trucks still hold a positive equity position with a few months left in the term. Swapalease said that compact SUVs […] [Read More]

Sen. Claire McCaskill previously grilled General Motors chief executive officer Mary Barra about how the automaker investigated and recalled older vehicles with defective ignitions. Earlier this week, McCaskill took aim at David Friedman, deputy administrator of the National Highway Traffic Safety Administration, about the same issue. During a Senate subcommittee hearing that lasted more than […] [Read More]

A few months ago, Used Car Week began rolling out its social media plan, including the introduction of our official conference hashtags. And if you read this post on Used Car Week’s “Behind the Scenes” blog summarizing that plan, you may still be recovering from laughter fits, courtesy of this Jimmy Fallon clip. (So are we, by the […] [Read More]