A former senior vice president of Nicholas Financial is looking to duplicate the same success he enjoyed previously now that he is overseeing a North Carolina-based operation fueled by a merchant banking firm. Douglas Marohn now is chief executive officer at Metrolina Credit Co., which recently acquired locations in Charlotte and Concord, N.C., to go […] [Read More]

Wholesale prices are still on the upward swing as March comes to a close and we near the end of tax season, according to AuctionNet data provided to Auto Remarketing. Meanwhile, pre-owned retail prices observed on Cars.com seem to have been on a different track. According to Cars.com data, overall used prices on the site […] [Read More]

At the end of 2013 after reviewing Experian Automotive data, I wrote that losses for special finance companies in the subprime auto finance industry were trending upward sharply. I attributed these higher losses to overly aggressive underwriting “silly loans” caused by putting “too much vehicle in the hands of too little customer.” This practice continued […] [Read More]

Did you make the pics? Photos from the 2014 Auto Remarketing Canada conference have hit the Web. The 2014 ARC Conference wrapped up at the Westin Harbour Castle in Toronto last week with over 600 attendees, including dealers, automaker executives, auction leaders and more. The conference’s full-to-capacity Expo Hall featured names such as TRADER Corp., […] [Read More]

Buy-here, payhere dealership software provider AutoStar Solutions recently acquired 50 percent interest in SecureClose, a designer of innovative compliance technology. Together, the two companies are finalizing plans to provide a new tool that automates the contract closing process for dealers.AutoStar Solutions president and chief executive officer Allen Dobbins highlighted this new technology comes at a […] [Read More]

Two buy-here, pay-here operators who say they have more than 80 years of experience ended up in serious trouble with the Federal Trade Commission. Earlier this month, the FTC charged Arkansas dealer, Abernathy Motor Co., and its two principals, Wesley Abernathy and David Abernathy, with failing to display federally mandated buyer’s guide on used vehicles […] [Read More]

Mercedes-Benz Canada broke ground on a new dealership in Quebec this week that will serve as a debut to what the company is calling “the new Mercedes-Benz retail corporate identity,” where black with silver accents will be the theme of the day, replacing the blue colors traditionally seen in the luxury stores. Company leadership broke […] [Read More]

Braeger Auto Finance Group chief executive officer David Braeger wanted to solve a problem buy-here, pay-here dealers encounter when they go to traditional banking outlets looking for an increase in funds to expand their portfolios.More money can mean the chance to turn more vehicles and get more paying customers on the books. “Often times banks […] [Read More]

Inilex, a provider of intelligent telemetry solutions for vehicles, is continuing to expand its executive team with the addition of Brad Walls as the company’s vice president of corporate and business development. The company highlighted Walls brings a demonstrated track record in new business innovation, service, product management and long-term strategic planning to Inilex. In […] [Read More]

The Enterprise Rent-A-Car Canada Co. has broadened its reach in the rapidly growing car-sharing business. The company revealed this week it has purchased Toronto-based AutoShare CarSharing Network Inc. "This acquisition reflects our longtime commitment to offering sustainable transportation options throughout North America," said Ryan Johnson, assistant vice president overseeing Enterprise's CarShare, Rideshare and Zimride operations. […] [Read More]