Exeter Finance Corp. announced this week that EFCAR — a special purpose Delaware limited liability company and wholly owned subsidiary of the Exeter — priced $500 million in aggregate principal amount Series 2014-2 automobile receivable backed notes. The company indicated the notes will be issued in four separate tranches. The class A notes were rated […] [Read More]

As part of its ongoing investigation into allegations of racial and gender discrimination and employee retaliation at the Consumer Financial Protection Bureau, the U.S. House Financial Services Oversight and Investigations Subcommittee this week heard testimony from witnesses who were subpoenaed to appear before the panel. The hearing arrived nearly a month after subcommittee members voted […] [Read More]

As a part of the company’s presence at the National Alliance of Buy-Here, Pay-Here Dealers National Conference this week, dealer management software solutions provider Finance Express introduced FEX SM. Executives described the solution as an exciting shop management platform that now can afford the dealer three levels of integration, based on dealer service department requirements. […] [Read More]

The recent saga surrounding the ignition switch-related recall at General Motors has caused trouble for the automaker, consumers and dealers, but it probably won’t have any meaningful impact on the resale values on the millions of units involved. That’s according to ALG, which shared a summary Tuesday morning of some GM resale analysis from its […] [Read More]

J.D. Power and Canadian Black Book have come together in a new partnership designed to provide used-vehicle transaction data to Canadian dealers, combining the real-time used-vehicle retail transaction data from J.D. Power’s Power Information Network and CBB’s online valuation tool. The two companies are collaborating on used-vehicle market transaction data, and the new information will […] [Read More]

Consumers, dealers and buyers have yet another way to connect with each other. AutoTrader.com announced Wednesday that shoppers can now utilize the Trade-in Marketplace when looking to sell their used vehicle from the convenience of their smartphones. AutoTrader.com has integrated the Trade-in Marketplace tool across all of its mobile properties. Users can now access the […] [Read More]

Shopper interest is piqued by auto shows, and here’s the data to prove it. According to a Jumpstart Automotive Group analysis released this week, dramatic spikes were seen in the shopping patterns of in-market auto shoppers before and during four major U.S. auto shows. For example, following the unveiling of the redesigned Chrysler 200 at […] [Read More]

Years in development have paid off for vAuto, which this week announced the awarding of a patent for its system of inventory management for auto dealers. On Wednesday, the company noted receipt of U.S. Patent No. 8,589,212 by the United States Patent Office, for its Provision system that helps dealers determine which used vehicles will […] [Read More]

Dealer’s Auto Auction Group is sending 15 of its employees to the International Automotive Remarketers Alliance's Certified Automotive Remarketer Program. The IARA CAR Program offers a 20-course curriculum scheduled within a five-unit series covering all aspects of the vehicle remarketing profession.    “The IARA provides us with a number of valuable education forums and initiatives […] [Read More]

The number of recalls from General Motors continues to grow, as this week's issues added to the list of more than 25 GM recalls to come through this year,  totaling over 13 million vehicles. General Motors Canada announced this week it is recalling about 181,500 vehicles in three separate recalls. This news comes on the […] [Read More]