On top of announcing impressive pre-owned sales results for the first quarter on Wednesday, Asbury Automotive Group executives also revealed plans to follow CarMax and other competitors into the stand-alone used-car retailing space. Company leaders said in Asbury’s conference call to discuss Q1 results that the move was fueled in part by significant growth in […] [Read More]

Texas-based defi SOLUTIONS announced chief executive officer and founder Stephanie Alsbrooks was selected as one of the Dallas Business Journal’s 40 Under 40 honorees for 2014. The Dallas Business Journal judges received and reviewed 242 nominations to select this year’s annual list of 40 Under 40 business professionals. “With 18 years of experience working on […] [Read More]

EFG Companies highlighted that it recently became one of the first F&I product providers to have its entire field services team certified by Association of Finance and Insurance Professionals (AFIP). By certifying its entire team at once, EFG explained that it’s now possible for its client base to receive the immediate benefits of the company’s […] [Read More]

The National Credit Union Foundation, in partnership with Filene Research Institute, highlighted that 14 credit unions across the country are participating in a product incubator for non-prime auto loans. The following credit unions will be testing the non-prime auto loan product: —CALCOE FCU in Yakima, Wash. —Cy-Fair FCU in Houston —Denver Community CU in Denver […] [Read More]

Moody’s sees finance companies easing off the subprime vehicle loan accelerator, but analysts stopped short of saying that lenders are ready to hit the brakes on originations to consumers with damaged credit histories. According to a new report from Moody’s, U.S. subprime auto lenders are exercising more caution in granting loans to increasingly risky borrowers, […] [Read More]

Another public dealership group is jumping on the used-car outlet concept. Asbury Automotive Group announced Wednesday morning that the retailer will be opening two stand-alone used-car stores in Florida this year that will operate under the “Q auto” brand. Asbury plans on opening the first store in June in Tampa, Fla., then a second store […] [Read More]

Amid a used-car market being impacted by stronger pre-owned supply and continued gains in new-car sales — plus rapidly advancing buying and selling technology in the wholesale space — Black Book has noticed a trend sprouting up, one which it aims to assist through its recently enhanced digital offering. The trend? Direct-to-retail-customer sales from the […] [Read More]

Swapalease.com reported on Tuesday that lease credit approvals on its site in March rose from the yearly low established a month earlier. The March rate came in at 69.6 percent, up from 66.7 percent recorded in February. Site analysts noted the 69.6 percent approvals mark is also the level of the last three months, indicating […] [Read More]

What I have heard, from speaking with dealers in different parts of the country, the “now what” answer is as follows: Find some cars. I speak with dealers each month to see what’s happening and keep up with the business. Earlier in the year, I was hearing how the weather was slowing things down, but […] [Read More]

Compliance will be one of the major focuses as the National Alliance of Buy-Here, Pay-Here Dealers host two national events in less than a week at one of Las Vegas’ most luxurious resorts. First, beginning on May 18, NABD will host its a BHPH Compliance Academy, a program designed for both new and experienced operators […] [Read More]