Though wholesale prices remained at high levels in April, the recent trend of seasonal market softening has taken hold. According to ADESA Analytical Services, wholesale values sat at an average of $10,468 last month, up 0.3 percent from March and up 3.7 percent year-over-year. Midsize and mini SUVs had the strongest month-over-month and year-over-year price […] [Read More]

A finance manager at an Ohio franchised dealership set the examination bar quite high as a part of the inaugural boot camp recently orchestrated by the Association of Finance & Insurance Professionals. Ray Miller, finance manager at Joyce Buick GMC in Avon, Ohio, posted the highest score on the AFIP Senior Certification Exam at AFIP’s […] [Read More]

Credit Acceptance Corp. commenced a tender offer to purchase up to 915,750 shares of its outstanding common stock. The company pegged the price per share at $125.58 “We anticipate that we will obtain all of the funds necessary to purchase shares tendered in the tender offer, and to pay related fees and expenses, by borrowing […] [Read More]

Last week, the Consumer Financial Protection Bureau rolled out what the agency described as an updated and improved version of its eRegulations tool, including a new, electronic, user-friendly version of the Truth in Lending Rule — the flagship federal regulation protecting consumers when it comes to credit products. The CFPB noted that eRegulations is not […] [Read More]

A TrueCar executive used a medical analogy to describe how the company’s first day of trading on the Nasdaq Global Select Market went on Friday. TrueCar announced the pricing of its initial public offering of 7,775,000 shares of its common stock at a price to the public of $9 per share, a bit below the […] [Read More]

The $35 million fine generated by the consent order from the National Highway Traffic Safety Administration that General Motors agreed to on Friday didn’t surprise analysts from TrueCar and Kelley Blue Book. Now what these industry observers are waiting to see is if the impact triggered by this ignition switch recall controversy will eventually work […] [Read More]

 After boosting its global used-car retail sales by nearly 16 percent in the first quarter, Group 1 Automotive announced late last week a new stock offering. The dealer group revealed the pricing of its private placement of $350 million of 5 percent senior unsecured notes due in 2022. The offering size was increased to $350 […] [Read More]

MojoMotors.com took a different approach to gauging vehicles’ reliability — looking at how much mileage could accumulate before a car becomes valueless. Although just because a car has lost all of its residual value doesn’t mean it won’t keep on running, MojoMotors pointed out “less reliable brands will lose value quicker since they have a […] [Read More]

In and of itself, the fact that 36 percent of taxpayers who expected to receive a refund check this year planned on spending at least part of those funds on auto-related items isn’t all that out of the ordinary, according to a survey from eBay Motors. While that proportion was up 3 percentage points from […] [Read More]

General Motors said it came to an agreement with the National Highway Traffic Safety Administration on Friday for failing to report in a timely manner the ignition switch defect that’s resulted in the non-deployment of airbags in more than 2 million Chevrolet Cobalt and other GM models. As part of this agreement, GM will pay […] [Read More]