With the amount of information available online during a shopper’s initial search for a new vehicle, it is becoming more and more important to showcase a store’s best assets on the Web — including its salespeople. DealerRater is debuting a new program at an industry conference this week that helps stores do just that. The company’s […] [Read More]

The American Bankruptcy Institute determined total bankruptcy filings in the United States decreased 13 percent in April compared to the same month last year. According to data provided by Epiq Systems, bankruptcy filings totaled 87,954 in April, down from the year-ago figure of 100,770. Officials indicated consumer filings declined 12 percent to 84,579 from last […] [Read More]

Auction Edge’s board announced Monday that Scott Finkle is taking on the role of company president. As the startup phase for the auction technology company is now finished, former chief executive officer David Weld — a start-up specialist — has left Auction Edge, the company said. Finkle’s most recent post was as president of Auction […] [Read More]

Dealership software platform provider ELEAD1ONE appointed a new chief technology officer on Monday. Taking on the role at ELEAD1ONE, a division of Data Software Services, is Jake Massey, who the company said will manage the critical technology and development systems supporting ELEAD1ONE’s automotive-only sales, marketing, digital and service efforts, as well as enterprise systems and […] [Read More]

Dealer Preferred Capital on Monday expanded its floor plan and float lending at the Greater Rockford Auto Auction as part of GRAA’s year-long 40th anniversary celebration.  Late last year, officials recapped that the Dealer Preferred Capital launch at GRAA focused on offering a competitively priced floor plan that could respond quickly to dealer needs. Dealer […] [Read More]

As May rolled in last week, Black Book’s Ricky Beggs says it brought with it the end of the peak of spring used-car activity and overall strength of auction prices. Though 54 percent of the overall price changes in the lanes last week were still increases, this number was the lowest percentage of increases since […] [Read More]

National Auto Acceptance Corp. recently announced a subprime/deep subprime point-of-sale program offered to independent and franchised dealerships throughout Ohio. The company explained its program can help dealers capture customers with poor credit, past bankruptcies or repossessions, as well as and first-time buyers. “The company does have plans to grow their footprint to other states, and […] [Read More]

The Government Accountability Office — the audit, evaluation and investigative arm of Congress — recently completed an audit of the Consumer Financial Protection Bureau’s fiscal years 2013 and 2012 financial statements. GAO officials said they identified two significant deficiencies in CFPB’s internal control over financial reporting as of Sept. 30, 2013. Specifically, GAO found that […] [Read More]

The American Bankruptcy Institute recently tapped Brian Shaw of Shaw Fishman Glantz & Towbin of Chicago to be the organization's president for a one-year term. Shaw takes over for Patricia Redmond of Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson of Miami. ABI’s board of directors announced its decision during the annual spring meeting late last […] [Read More]

April’s used-vehicle sales numbers backed up assertions that the economy is generally on a positive path and finance companies can leverage the situation into profits down the road. According to CNW Research, used-vehicle sales in April to deep subprime buyers — customers with FICO scores below 500 — jumped by 19 percent year-over-year and climbed […] [Read More]