SANTA MONICA, Calif. — Along with data about how many used-vehicle contracts written at franchised dealerships are bringing in some negative equity, Edmunds.com shed light on term length, APR and more about second-quarter used-vehicle sales at franchised stores. Edmunds.com determined the average APR in the second quarter came in at 8.2 percent, down slightly from […] [Read More]

HANOVER, Md. — Officials from the National Automotive Finance Association set the dates for its next Non-Prime Auto Financing Conference, an event that will mark its 18th year in 2014. NAF Association's next annual event will be conducted on May 28-30 at the Omni Fort Worth Hotel in Fort Worth, Texas. The association acquired 25-percent […] [Read More]

MISSION VIEJO, Calif. — Finance management system provider DealerCentric Solutions this week rolled out what it's calling ID Drive, a patent-pending identification scanner technology aimed at giving dealerships protection against fake IDs and identity theft. Developed in partnership with AssureTec Technologies, DealerCentric believes ID Drive can provide dealerships the same, state-of-the art protection used by […] [Read More]

PHOENIX — Recent figures suggest that consumers are back to buying vehicles at a pre-recession pace, but their shopping and payment habits are changing with the Web now the most influential source. The consumer is now demanding different finance options on their purchases as the average length of a loan is now 72 months for […] [Read More]

Full-year new-vehicle sales will likely climb for the fourth straight time, rising more than 5 percent from 2012 to hit 15.6 million units. That’s according to The Kiplinger Letter from Friday, which also projects 16.3 million new-car sales for 2014 — which would be a seven-year high. Based on what Jim Patterson, associate editor for […] [Read More]

Manheim determined wholesale used-vehicle prices (on a mix-, mileage- and seasonally adjusted basis) rose in July — the second straight monthly increase — a development chief economist Tom Webb said came “even in the face of higher supplies.” Webb continued when Manheim released the latest Used Vehicle Value Index on Wednesday by saying, “Rack that […] [Read More]

After predicting an increase of $100 in each the two previous weeks, NADA Used Car Guide expects wholesale prices to continue to rise, but at a slightly slower rate this time around. At the industry level, used values are projected to climb by 0.5 percent, or $75, relative to the two-week average. And with gas […] [Read More]

As ADESA volume jumped 10 percent year-over-year during the second quarter, KAR Auction Services chief executive officer Jim Hallett described how much online-buying activity is climbing, too. Hallett said during the company’s quarterly conference call on Wednesday that approximately 35 percent of the units ADESA sold during Q2 went to Internet buyers. Hallett noted that […] [Read More]

Today, the American Auto Auction Group is launching a private-label sale in Jacksonville, N.C.,  that will be operated by employees of Charleston Auto Auction (which is part of AAAG). Its official title is National Auto Auction, and Charleston AA assistant general manager Bill McCready shared a bit about what will be featured. The debut sale […] [Read More]

Toyota Motor Sales, USA Inc. revealed Wednesday it will conduct a voluntary safety recall involving approximately 342,000 Toyota Tacoma Access Cab vehicles. The involved vehicles — produced from 2004 to 2011 — contain screws that attach the seat belt pre-tensioner to the seat belt retractor within the seat belt assembly for the driver and front […] [Read More]