Lendbuzz is looking to help dealers get financing for applicants with thin to no credit history. Last week, the fintech company launched Express Contract, its expedited approval offering that uses Lendbuzz’s proprietary Artificial Intelligence Risk Analysis (AIRA) to approve and fund qualified loans in a fraction of the time it takes using traditional methods. From […] [Read More]

Millions of dollars move back and forth between consumers and auto insurance companies nowadays, so Dream Payments wants to make those transactions smoother. Last week, the company launched the DreamPay Insurance Payment Hub — a two-way insurance payment network operating seamlessly across North America, leveraging J.P. Morgan Payments’ capabilities. Dream Payments said that for the […] [Read More]

The latest Charles River Associates analysis released on Monday showed that VantageScore credit score usage is up sharply by 55% year-over-year to a record 41.7 billion credit scores delivered in 2024. That’s up from 26.9 billion in 2023, as lenders across credit products increased their use of VantageScore. According to a news release, the annual […] [Read More]

America’s Group has gone south and northeast with its auto auction purchases in 2025, buying South Georgia Auto Auction and New Jersey’s Car-Tech Auto Auction. It is now headed west. The rapidly expanding auction company said Monday it has purchased North Bay Auto Auction, which is in Fairfield, Calif. The purchase of North Bay, founded […] [Read More]

Lithia and Driveway’s used-car segment had a strong first quarter highlighted by robust sales in what the auto retailer characterizes as “value” units. “Used autos are foundational to our model and we expect to see ongoing positive trends in the quarters ahead,” said Bryan DeBoer, Lithia’s president and CEO, during the earnings call. Used-vehicle sales in the first quarter ... [Read More]

With experts at places like J.D. Power acknowledging that the impacts from tariffs on the car business are “extremely fluid,” DAS Technology offered some help on Thursday to help dealerships navigate these murky waters. DAS Technology launched what it called its Dealership Tariff Toolkit, a resource that’s designed to equip dealers with communication guidance, messaging […] [Read More]

Immediately drawing applause from the American Financial Services Association, Credit Acceptance announced late on Thursday that a lawsuit involving the Consumer Financial Protection Bureau (CFPB) took a positive turn for the subprime auto finance company. According to a news release from Credit Acceptance, the CFPB filed an unopposed motion to withdraw from the lawsuit that […] [Read More]

While appointed to their respective roles at different times, there are few new general managers at ADESA locations. The company has new/recent GMs at its locations in Indianapolis, Jacksonville, Fla.; Ocala, Fla.; Memphis, Tenn.; Buffalo, N.Y.; Pittsburgh; Atlanta; and Sarasota, Fla. ADESA parent company Carvana provided a rundown of each location’s new GM: — ADESA […] [Read More]

Hendrick Automotive Group is returning to South Carolina’s capital. The Charlotte, N.C.-based dealer group, which is the largest privately held auto retailer in the U.S., said Thursday it will be acquiring Love Automotive. Hendrick said the acquisition is expected to happen in June and close by July. The purchase of the Columbia, S.C.-based group would […] [Read More]

According to Experian’s State of the Automotive Finance Market Q4 2024, the outstanding balances connected to auto financing grew from $1.106 trillion at the close of 2018 to $1.485 trillion at the end of last year. And to finish 2024, TransUnion reported that outstanding credit card debt hit $1.11 trillion and personal loan commitments reached […] [Read More]