One auto auction family has personal reasons to support efforts to fight breast cancer: Its patriarch and founder of the family business, which has been in operation for more than 30 years.    Pittsburgh Auto Auction founder Clo Angelicchio is a breast cancer survivor, having been diagnosed with breast cancer in 2008.  Management and staff […] [Read More]

A Halloween party and costume event that brought out witches, ghosts, vampires  and other costumers, the second annual MetroGistics Monster Mash fundraiser earlier this month raised more than $19,000 for three charities: Humane Society of Monroe County, Ill., Humane Society of St. Clair County, Mich., and Project VIP (Very Important Pets). MetroGistics, a full-service transportation […] [Read More]

WASHINGTON, D.C. — Dealer associations, legal service providers and industry organizations have sought clarity as to how the Consumer Financial Protection Bureau plans to determine if discrimination is taking place within indirect auto lending. This week, a bipartisan group of 22 Senators — 11 Republicans and 11 Democrats — urged the CFPB to be more […] [Read More]

RALEIGH, N.C. — FNI Inc. president David Bafumo highlighted three best-practice recommendations for auto finance providers when offering captive or preferred add-on programs. The head of the collateral protection and consumer benefit program product and compliance agency emphasized these tip focus on topics such as selection, transparency and management. 1.  Product and Provider Selection Bafumo […] [Read More]

CHICAGO — According to a recent study by TransUnion, many Americans do not understand how credit scoring works or that there are many credit scoring models. The project commissioned by TransUnion asked the following question: —On a scale of 1 to 5, indicate your understanding of the different credit scoring models available to you and […] [Read More]

CINCINNATI — Swapalease.com recently learned the latest year-to-date credit approval average came in slightly lower in September than in August. Site officials said September's reading settled at 72.7 percent, down slightly from a 74.5-percent approvals rate year-to-date in August. The average year-to-date approvals rate considered to be healthy is 70 percent, according to the company. […] [Read More]

CarProof Vehicle History Reports revealed today a new resource to help used-car buyers and sellers. The new 2013 Used Car Selling Guide, designed to help private sellers prepare their cars for sale, may prove beneficial to dealers, as well, since tight used supply is pushing many stores to try and secure inventory from private sellers […] [Read More]

This Halloween week, all vehicle segments are expected to see prices drop in the lanes, according to NADA Used Car Guide’s predictions. At the industry level, wholesale prices are expected to drop by 0.7 percent, or $100. NADA UCG predicts that none of the segments will buck this declining trend, with all segments expected to […] [Read More]

General Motors increased its lease penetration by more than 5 percentage points in the third quarter, becoming slightly closer to its industry peers than it was a year ago. In a chart set providing details on the automaker’s Q3 performance, GM said its lease penetration in the U.S. was at 21.3 percent in the third […] [Read More]

With today being Halloween, Jonathan Banks warned about being tricked by the data being generated by the industry recently. The executive automotive analyst from NADA Used Car Guide explained his points during a recent online video post after the firm released its latest issue of Guidelines. “When taken at face value, that statistics for both […] [Read More]