Subprime auto finance company GO Financial completed the sale of a substantial equity interest in GO Financial to Manheim today, furthering connecting the dealer-support efforts of GO Financial and NextGear Capital. GO Financial is now majority owned by DriveTime chairman Ernie Garcia and DriveTime president and chief executive officer Ray Fidel and minority owned by […] [Read More]

Buy-here, pay-here and lease-here, pay-here financing has seen significant growth in popularity in Canada during the past few years. In the United States, there are approximately 28,000 dealers providing this form of financing to customers.   These dealers understand that BHPH financing can be very profitable if it’s done right, but it can also very costly […] [Read More]

DAA Northwest recently teamed up with fellow independent operation Norwalk Auto Auction as well as ADESA and Manheim in support of Toyota Financial Services’ Boys & Girls Clubs fundraising drive. Together with DAA Northwest and additional auction contributors, TFS presented a check for $500,000 to 35 Boys & Girls Clubs during the March 17 diplomas […] [Read More]

A new mobile app went live nationwide this week and is designed to give consumers real-time cash offers for their used vehicles from dealers located within their market area. The developers of CarOffer explained that they work with hand-picked dealers who have been known for their innovative customer service experiences and their commitments to a […] [Read More]

With General Motors providing rental cars to the owners of vehicles affected by its recent ignition-switch recall actions, there are bound to be effects in the remarketing world. Black Book editorial director Ricky Beggs talked to Auto Remarketing on Wednesday about how, exactly, those outcomes might surface in the auction lanes. To meet the strong […] [Read More]

Billions of dollars are spent each year on digital marketing, and J.D. Power intends to measure the link between that marketing and actual vehicle sales. On Wednesday, J.D. Power announced the acquisition of Korrelate, an Orlando-based company that measures consumers' online behaviors and links them to offline sales activity.  By combining Korrelate's privacy-safe method of […] [Read More]

It’s a big week for award-winning auctions, as industry accolades continue to roll in. On Wednesday, Fiserv released its top auctions list, just one day after Donlen did the same. Leading the Fiserv list as the top performing auto auction house of 2013 is Carolina Auto Auction, based in Anderson, S.C., which has ranked in […] [Read More]

Canadian dealers are on a roll as new-vehicle sales continued to rise in the first quarter of 2014. New light-vehicle sales climbed 0.9 percent during the  quarter, as dealers moved forward from 2013's record-breaking numbers, according to DesRosiers Automotive Consultants And the Canadian Automobile Dealers Association highlighted some impressive results this week, sharing record annual […] [Read More]

A big name in the used-vehicle business in the U.S. and Canada — HGreg.com — has found a new way to relate to one of its biggest competitors. The website is now offering buyers a “Compare with CarMax” button, providing a link to the same model on the competitors’ website. Users can easily compare prices […] [Read More]

On top of announcing impressive pre-owned sales results for the first quarter on Wednesday, Asbury Automotive Group executives also revealed plans to follow CarMax and other competitors into the stand-alone used-car retailing space. Company leaders said in Asbury’s conference call to discuss Q1 results that the move was fueled in part by significant growth in […] [Read More]