SAN DIEGO — In the second of three new honors to be handed out during Used Car Week, Auto Remarketing and SubPrime Auto Finance News announced the inaugural winner of the Re3 Executive of the Year Award presented by Consolidated Asset Recovery Systems. Earning this accolade from a group of qualified candidates who specialize in […] [Read More]

IRVINE, Calif. — After wrapping up another quarter of net income growth, Consumer Portfolio Services again addressed competition in the subprime auto financing market. However, late last week, instead of touching on startups that are entering the arena, CPS chairman and chief executive officer Charles Bradley Jr. delved into how the company is navigating against […] [Read More]

CARY, N.C. — Lease subvention climbed more than 5 percent year-over-year in September, which was the first increase in seven months, according to Autodata Corp. data in the latest Guidelines report from NADA Used Car Guide. The report noted that this lease subvention increase occurred even as overall finance subvention fell 4.7 percent, per Autodata. […] [Read More]

CINCINNATI — A new finance company servicing dealers and consumers in Ohio is now taking credit applications online. Officials from Buckeye Auto Finance explained their online platform is designed to assist potential nonprime purchasers with important approval criteria such as: —Gross monthly income —Debt-to-income ratio —Down payment "Financing a car can be a bewildering process, […] [Read More]

Before turmoil on Capitol Hill over the government shutdown and debt ceiling finally settled this week, the uncertainty appeared to be having a pronounced impact on potential sales as multiple captive finance companies make special considerations for furloughed federal workers. Kelley Blue Book Market Intelligence found that one in four visitors to KBB.com who are […] [Read More]

The strides made by Subaru in the new-car market are clearly evident, as a recent post to a NADA Used Car Guide blog illustrates. The company’s sales total last year was nearly 80 percent stronger  than the annual sum 10 years ago. And what has gone hand-in-hand with this new-car growth, says NADA Used Car […] [Read More]

Two major dealer associations reiterated their concerns about what’s happening in Washington, D.C., nowadays, beyond the solution lawmakers hammered out earlier this week to end the partial government shutdown and lift the debt ceiling. First, David Westcott, current chairman of the National Automobile Dealers Association, warned that the Consumer Financial Protection Bureau’s lack of transparency […] [Read More]

Video is yet another way for dealers to reach potential customers online and to show off their used inventory, and many stores are taking advantage of this more interactive digital marketing option. Videology  — a video advertising platform — revealed a new report this week that breaks down video advertising’s ability to drive auto sales […] [Read More]

Toyota is recalling more than 800,000 vehicles from the 2012 and 2013 model years for a problem with the air conditioning condenser unit housing that could lead to issues with air bags. Toyota Motor Sales USA said in a statement Thursday it was voluntarily recalling 803,000 model-year 2012 and 2013 Camry, Camry Hybrid, Avalon, Avalon […] [Read More]

On Thursday, Autobytel released the second installment of its Autobytel Dealer Insight Series, the company’s quarterly education program. The new series will cover sales best practices online and in the physical dealership. The first part of the series features Scott Pechstein, vice president of national sales for Autobytel, who will discuss best practice insight for […] [Read More]