Buyers at CarMax Auctions now have a new option for financing their purchases. Kinetic Advantage, an independent floorplan company for independent dealers, has partnered with CarMax to provide dealer floorplan financing at its auctions. “CarMax is recognized as one of the premier, dealer-friendly auto auctions in the country,” Kinetic Advantage president and CEO Marty McFarland […] [Read More]

During this panel discussion at this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction in Cary, N.C., a quartet of experts explained how evolving technology is making massive amounts of data more understandable and usable for auto financing. Led by Cherokee Media Group’s Nick Zulovich, the panel included: —Kevin Filan of Open […] [Read More]

As part of its 30-year anniversary of serving credit unions, Origence is orchestrating a special “30 Years of Impact” campaign fundraiser for Children’s Miracle Network Hospitals nationwide. Origence is inviting credit unions to participate by contributing a minimum of $300 to reach a goal of $30,000 for the “30 Years of Impact” campaign. Origence said […] [Read More]

Credit Acceptance chief marketing and product officer Andrew Rostami made his first appearance on the Auto Remarketing Podcast, sharing numerous perspectives about the non-prime and subprime portions of the auto-finance market. Rostami also highlighted the keys for success for Credit Acceptance and the entire industry for the remainder of the year and beyond. Listen to […] [Read More]

The National Automobile Dealers Association (NADA) had something to celebrate last week on Capitol Hill. NADA explained that what triggered the cheers was the passage of the fiscal year 2025 Financial Services and General Government (FSGG) appropriations bill by the House FSGG Appropriations Subcommittee. The association said that included in the funding bill is a […] [Read More]

For most of us, a forgotten unpaid bill is just a hassle. For Robyn Burkinshaw, it sparked “kind of an epiphany” that led her to create technology that allows customers to make payments by text, an innovation that has made her company, BlytzPay, a popular choice among buy-here, pay-here dealers. During the 2024 BHPH United […] [Read More]

Binu Mathew, a veteran of 30 years in leading product development and strategy for software technology companies, has joined automotive retail platform Tekion as its chief technology officer. In his new role, Mathew will lead the engineering, product management and design teams and drive the company’s technology strategy, product development and delivery to ensure the […] [Read More]

Keys Inc. is preparing to launch its latest system to connect the locksmith and dealership industries next month at the ALOA Security Expo 2024 in Las Vegas. The company said its new Keys Dealer DMS Queue is designed to streamline key management and enhance operational efficiency for dealerships by integrating with DMS providers to handle […] [Read More]

As electric vehicle prices fall, total loss claims rise. That’s the key finding of the latest report from Mitchell, a technology and information provider for the property and casualty claims and collision repair industries. The trends report for the first quarter of 2024, titled “Plugged-In: EV Collision Insights,” found EV total loss rates have soared […] [Read More]

To put the easing in wholesale vehicle prices into perspective, consider these two streaks. The Manheim Used Vehicle Value Index has decreased on a year-over-year basis for 21 consecutive months. And in May, the index fell below 200 for the second straight month, reaching levels not seen since early 2021. The index came in at […] [Read More]