CARY, N.C. — When gathered amongst themselves, sometimes dealers and finance company executives who specialize in working with customers with checkered credit pasts say they're not in the car business — they're in the collections business. "If you have a weak leg in collections, you're dead. I don't care if your ACV is $1,000," said […] [Read More]

BANDON, Ore. — Despite financing approvals for subprime borrowers edging slightly lower so far this month, overall used-vehicle sales this month are on pace to beat last September's total by more than 4 percent. No matter the financing trends, there could be even more buyers waiting in the wings as pent-up demand increased for the […] [Read More]

CINCINNATI — Swapalease.com reported a slight drop-off in year-to-date credit approval trends for August compared with July. The site determined the average customer credit approval rate at the end of August was 74.5 percent, down slightly from 75.6 percent at the end of July. Approximately three quarters of all people looking to take over someone's […] [Read More]

TORRANCE, Calif. — This week, Toyota Financial Services issued a new Diversity & Inclusion Bond — what officials said is a key component of the company's comprehensive funding program.  The company recapped that TFS issued its first Diversity & Inclusion Bond in January to positive response from investors, banks, and other issuers.  This second issuance […] [Read More]

The certified pre-owned industry is coming off its best sales month ever, and shopping-trend data from CNW Research is reinforcing why. During the last 16 years, the percentage of shoppers who would consider an off-lease CPO unit moved from 88.9 percent to 98.2 percent. In the September edition of the firm’s Retail Automotive Summary, CNW […] [Read More]

Though sales slow down according to seasonal trends associated with the approach of autumn, it seems dealers can look forward to lower prices at auction. Values are expected to continue to fall this week, as NADA Used Car Guide is predicting a decline of 0.5 percent, or $75. In fact, the only segment expected to […] [Read More]

Overall used-vehicle sales this month are on pace to beat last September’s total by more than 4 percent and there could be even more buyers waiting in the wings as pent-up demand increased for the third straight month, according to CNW Research. In fact, CNW president Art Spinella said the need to replace older vehicles […] [Read More]

How great is your customer service?  How is your customer satisfaction?  These are fairly common questions when it comes to marketing folks, and I'm going to be honest.  I really don't like them.  “Customer Service” reduces the customer to a task list, and “Customer Satisfaction” doesn't go far enough.  I don't want customers to be […] [Read More]

While Ford and Chevrolet are generate considerably more online discussion than other automakers, in light of recent new product launches and redesigns, Chevy edged out the Blue Oval for most chatted about automaker on the Web last month. According to the August Social Buzz Report from Phoenix Marketing International’s Automotive Practice, consumers were tracked chatting […] [Read More]

Interactive 360 is wrapping up the next addition to its full-service product lineup with its socially based CRM system. The company is expecting to launch the beta version of DRIVE360 CRM this month to current clients with plans to roll it out to the entire industry at the 15th annual Digital Dealer Conference in Las […] [Read More]