Three major markets and a full line of wholesale financial services for auto dealers are the news from SunTrust Banks this week. On Tuesday, SunTrust Banks announced the expansion of its wholesale automobile dealer financial services to Dallas, Chicago and Boston, offering a full line of wholesale and indirect banking products to dealers in these […] [Read More]

How much will my car get me as a trade-in when I’m ready for a new ride? This is top-of-mind for many consumers that enjoy switching their wheels out every few years. Dealers might want to point out Honda and its sister brand, Acura, to these shoppers — they just won the top spots in […] [Read More]

In a series of moves expected to push its recall-related costs for the second quarter up to $700 million, General Motors said on Monday that the automaker will rework or replace the ignition keys on about 3.16 million vehicles in the U.S. from the 2000 through 2014 model years. The OEM explained it’s taking the […] [Read More]

For the first time, American Recovery Association is hosting an upcoming series of nationwide leadership workshops for repossession agency managers and owners. The events are being presented by Doug Duncan, president of TalentValue. The first session is set for Friday at the Hilton BWI Airport in Baltimore. The points Duncan intends to cover include: —The […] [Read More]

The National Automobile Dealers Association rolled out a new “Get The Facts” initiative on Monday aimed at informing the media, opinion leaders and consumers about the numerous benefits of America’s franchised dealer network through a website and variety of multimedia resources. The centerpiece of the project is a two and a half minute animated video […] [Read More]

Carvana said Monday it has launched a white-label online auto retailing platform that marks the company’s first foray into the business-to-business space. Through this custom retail offering, outside companies — including everyone from retail organizations to financial institutions — can gain full access to Carvana’s proprietary technology. In essence, this would provide such companies with […] [Read More]

Maximizing fixed operations profitability is the aim of a new software integration announced Monday. Auto/Mate Dealership Systems reported news of the integration of its dealership management system with SMI's DriveService and DriveSales solutions. For auto dealers using both tools, the integration means that customer information updated in the DMS will be updated in SMI's customer […] [Read More]

The majority of vehicle segments continued to see price drops last week at auction, and buyer sentiment in the lanes showed signs of a slower sales season for dealers. Black Book’s Ricky Beggs said in his latest “Beggs on the Used Car Market” video that the company’s survey personnel reported such comments from the lanes […] [Read More]

Implemented in less than seven months, White Clarke Group’s CALMS2 Platform has automated application submissions and decisioning for Exeter Finance’s recently launched Strategic Originations Channel. Officials indicated that now 100 percent of Exeter’s channel applications are pushed through this platform. White Clarke believes the new system gives Exeter a competitive advantage in recruiting strategic alliances. […] [Read More]

The State Government Affairs Committee of the American Financial Services Association published a white paper focused on the impact of consumer complaints. AFSA highlighted the paper details the varying ways that state regulatory bodies and federal agencies collect, report and use consumer complaint information to inform their rulemaking activities. Officials noted the paper takes a […] [Read More]