With the sixth annual North American Repossessors Summit (NARS) set to begin on Thursday, industry leaders reiterated their commitments as they formed the Council of Repossession Professionals. This group consists of two members from each of the following trade groups: — Allied Finance Adjusters (AFA) — American Lenders Service Co. (ALSCO) — American Recovery Association […] [Read More]

Experian Automotive found that fourth quarter repossession rates at what analysts categorize as finance companies — operations that do not hold commercial deposits but make vehicle loans — rose to their highest point since 2010. Fourth quarter repo rates for finance companies — which often cater to subprime buyers — jumped 76.3 percent year-over-year to […] [Read More]

It’s tax time, and for many, that also means it’s car shopping time. According to an online study conducted on behalf of CarMax, 17 percent of people expecting a tax refund are likely to put that money toward buying a car. And the likelihood of someone expecting a refund using that money for car buying […] [Read More]

While domestic models made up the majority of the Top 10 most-researched used vehicles at NADAguides.com last month, many of the brands boasting the greatest increases in consumer search activity were imports. According to the latest issue of Guidelines from NADA Used Car Guide, the Top 10 most-researched used models in February included: 1. Ford […] [Read More]

With automaker officials also reportedly meeting with congressional staff members today, General Motors chief executive officer Mary Barra named a new vehicle safety leader whose first priority will be to quickly identify and resolve product safety issues. Tapped for the position effective immediately is Jeff Boyer, who has been named to the newly created position […] [Read More]

Mobile data access right from the service lane is available via a new app extension. AutoLoop on Tuesday announced the debut of SmartLane, an app extension of AutoLoop Book, available for the Apple iPad. SmartLane allows auto dealerships running the Book program real-time access to customer data right from the service drive. “AutoLoop Book is […] [Read More]

Marketing the right vehicle to the right buyer — minus large ad spends for across-the-board targeting — is the aim of a new offering by Dominion Dealer Solutions. On Tuesday, the company announced the first of what it calls a “series of progressive and integrated product improvements” meant to assist dealers with their merchandising and […] [Read More]

As we wrap up the first quarter of the new year, ALG Canada’s latest Industry Update outlined the factors that will contribute to easing used vehicle prices among 5- to 7-year-old vehicles in the next few years. Used-vehicle sales peaked at 3 million in 2011, and as supply tightened, pre-owned prices have been on the […] [Read More]

Though used prices are falling, rates are still high in the lanes — especially when dealers are looking to secure quality vehicles for their certified pre-owned operations programs. With used prices remaining above average, it is crucial that dealers balance their reconditioning costs with profit potential. To get an idea how some of the most […] [Read More]

During awards ceremonies today at the 2014 Auto Remarketing Canada conference held at the Westin Harbour Castle Hotel, this year's Dealer of the Year and Remarketer of the Year were announced. The 2014 Auto Remarketing Canada Conference, presented by CarProof, offers attendees the opportunity to honor outstanding members of the industry. The 2014 Auto Remarketing […] [Read More]