Dealership software platform provider ELEAD1ONE appointed a new chief technology officer on Monday. Taking on the role at ELEAD1ONE, a division of Data Software Services, is Jake Massey, who the company said will manage the critical technology and development systems supporting ELEAD1ONE’s automotive-only sales, marketing, digital and service efforts, as well as enterprise systems and […] [Read More]

Dealer Preferred Capital on Monday expanded its floor plan and float lending at the Greater Rockford Auto Auction as part of GRAA’s year-long 40th anniversary celebration.  Late last year, officials recapped that the Dealer Preferred Capital launch at GRAA focused on offering a competitively priced floor plan that could respond quickly to dealer needs. Dealer […] [Read More]

As May rolled in last week, Black Book’s Ricky Beggs says it brought with it the end of the peak of spring used-car activity and overall strength of auction prices. Though 54 percent of the overall price changes in the lanes last week were still increases, this number was the lowest percentage of increases since […] [Read More]

National Auto Acceptance Corp. recently announced a subprime/deep subprime point-of-sale program offered to independent and franchised dealerships throughout Ohio. The company explained its program can help dealers capture customers with poor credit, past bankruptcies or repossessions, as well as and first-time buyers. “The company does have plans to grow their footprint to other states, and […] [Read More]

The Government Accountability Office — the audit, evaluation and investigative arm of Congress — recently completed an audit of the Consumer Financial Protection Bureau’s fiscal years 2013 and 2012 financial statements. GAO officials said they identified two significant deficiencies in CFPB’s internal control over financial reporting as of Sept. 30, 2013. Specifically, GAO found that […] [Read More]

The American Bankruptcy Institute recently tapped Brian Shaw of Shaw Fishman Glantz & Towbin of Chicago to be the organization's president for a one-year term. Shaw takes over for Patricia Redmond of Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson of Miami. ABI’s board of directors announced its decision during the annual spring meeting late last […] [Read More]

April’s used-vehicle sales numbers backed up assertions that the economy is generally on a positive path and finance companies can leverage the situation into profits down the road. According to CNW Research, used-vehicle sales in April to deep subprime buyers — customers with FICO scores below 500 — jumped by 19 percent year-over-year and climbed […] [Read More]

In an overall used-car market that was 3.65 percent stronger than the one in April 2013, sales of vehicles ages 1 to 5 were especially “hot” last month, according to CNW Research. And likely not coincidentally, certified pre-owned sales jumped nearly 10 percent year-over-year in April, data from Autodata Corp. indicates. CNW said there was […] [Read More]

Though diesel vehicles might not be considered environmentally friendly by all, the bottom line is, they are more fuel-efficient than there gasoline counterparts. And as fuel efficiency becomes more and more of a concern for shoppers, the Environmental Protection Agency said that diesel vehicles are making a bit of a comeback in the U.S. after […] [Read More]

Even as liability proceedings regarding the automaker’s ignition switch recall unfolded Friday afternoon in a U.S. Bankruptcy Court in Manhattan, analysis from both Kelley Blue Book and Edmunds.com show that shoppers don’t appear to be shying away models from General Motors. New survey data of Kelley Blue Book website users indicated only 5 percent of […] [Read More]