The nation’s ninth largest auto retailer is now  larger, as the company continued its strategy of seeking exclusive franchises within its markets in announcing the expansion of its store count.   Lithia Motors on Friday noted its acquisition of Honolulu Buick GMC Cadillac and Honolulu Volkswagen in Honolulu, Hawaii, bringing the company’s store count in […] [Read More]

Earlier this week, RouteOne announced that Friendly Finance Corp. is now available as a fully integrated lender on the RouteOne platform. Dealers who have a relationship with Friendly Finance can now process credit applications electronically to Friendly Finance through RouteOne. Friendly Finance is a subprime lender specializing in providing customers with auto loans before they […] [Read More]

The American Bankruptcy Institute reported that total bankruptcy filings in the United States decreased 12 percent in February compared to the same month last year. According to data provided by Epiq Systems, bankruptcy filings totaled 72,193 in February, down 82,336 filings a year earlier. Consumer filings also declined 12 percent to 69,380 in February, dropping […] [Read More]

Like sister publications within Cherokee Automotive Group, SubPrime Auto Finance News is leveraging a new website into more opportunities to distribute content, enhance branding for advertisers and broaden social media popularity. With the launch of this new website, SubPrime Auto Finance News is increasing its commitment to serving our audiences — both with editorial content […] [Read More]

Triggered in part by the performance of vehicle financing, TransUnion’s Credit Risk Index — a measure of aggregate credit risk in the nation — dropped at the conclusion of 2013 to its lowest level since 2005. Analysts determined the Credit Risk Index (CRI) decreased to 110.10 in Q4 2013, down nearly 9 percent from 120.64 […] [Read More]

Dealers in and around Charlotte, N.C. have a new auction to choose from when acquiring used inventory for their lots: Auto Auction Holdings’ Speedway Auto Auction of Charlotte, which is located in suburban Concord, N.C. The new facility is located on 33 acres and touts five lanes for its weekly sales on Tuesdays as 2:45 […] [Read More]

On Thursday afternoon at the NAAA/CAR/IARA event in Las Vegas, Avis Budget Group announced its 2013 Auction Performance Awards, joining several other remarketing players revealing annual awards this week. Starting things off for Avis Budget, its Highest MMR Retention award went to Dealers Auto Auction of Oklahoma City, and its Volume Leader award went to  […] [Read More]

Manheim Pennsylvania is gearing up for its two-day Xtreme Spring Event on March 20-21, which will include a Spring Charity Gala, to benefit the Wounded Warrior Project organization — and there are some highline names on tap that are bound to draw a crowd when these machines role through the lanes. The spring event will […] [Read More]

During a panel discussion on multi-platform selling at Used Car Week this fall, GM Financial’s Dan Heinrich expressed a concern. He said one of the hurdles to this type of online wholesaling gaining widespread traction in the remarketing business was inconsistency with condition reports. Flash forward a couple months, and the industry may have found […] [Read More]

In a joint announcement today, Manheim, ADESA and the independent auctions said they have made significant progress toward the creation of a multiplatform bidding solution that would facilitate simultaneous bidding on vehicles listed on multiple online auction sites. The statement from these auction parties says that the proposed multiplatform solution is different from any other […] [Read More]