NEW YORK — As analysts described overall consumer credit performance as "healthy," the auto loan portion of the newest S&P/Experian Consumer Credit Default Indices showed a slight uptick. Data through August compiled by S&P Dow Jones Indices and Experian revealed auto loan defaults edged up to 1.11 percent last month, up from 1.03 percent in […] [Read More]

NEW YORK and CHICAGO — Fitch Ratings contends that loosening underwriting standards and higher funding costs have led auto lenders to increasingly extend credit to subprime consumers. However, analysts view the higher propensity to lend to "weaker" borrowers as a "relative" normalization in credit metrics, seen previously with the 2004 through 2006 vintages. Fitch recapped […] [Read More]

GREEN BAY, Wisc. — The Russ Darrow Group delved deeper into the buy-here, pay-here business and broadened its used-vehicle operation this week by unveiling two new dealerships at one location. Located at 2800 Ramada Way in Green Bay, Wisc., the group now is running another Russ Darrow Used Car Superstore, the second of its kind […] [Read More]

WASHINGTON, D.C. — While the industry continues to pursue regulatory education, the American Financial Services Association recently introduced a compliance training program for member companies. Powered by business partner FIS, officials highlighted AFSA University will offer more than 260 courses on key federal financial services laws and regulations. The courses are Web-based and teach the […] [Read More]

The Russ Darrow Group broadened its used-vehicle operation this week by unveiling two new dealerships at one location. Located at 2800 Ramada Way in Green Bay, Wisc., the group now is running another Russ Darrow Used Car Superstore, the second of its kind in its store portfolio. The group has a similar lot in Appleton, […] [Read More]

The Nashville campus of National College recently awarded a Distinguished Community Employer plaque to Primeritus Financial Services, one of the presenting sponsors of this year’s Re3 Conference. Primeritus Financial Services highlighted that it has been instrumental in hiring current students and graduates of National College and has agreed to be an externship site for students […] [Read More]

In a move designed to help dealers efficiently tap into and buy wholesale vehicles from independent auctions, vAuto Genius Labs announced this morning the integration of its AuctionGenius tool with the AWG Simulcast Platform from Whann Technology Group. “This integration continues our efforts to provide dealers convenient access to a wider variety of wholesale vehicles […] [Read More]

At every digital marketing conference I attend, there are multiple presentations filled with dealers asking where online traffic is coming from. The truth is this information is readily available to you — if you know where to look. If Internet shoppers don’t look at your cars online, they are unlikely to come to your showroom […] [Read More]

While compact pickups and full-size pickups continue to see the strongest price retention at auction, Black Book’s Ricky Beggs highlighted another trend in the lanes that may be reversing. Though entry-level cars showed significant depreciation in August, Beggs — editorial director and senior vice president at Black Book  — explained in his latest “Beggs on […] [Read More]

Kelley Blue book announced on Monday that its KARPOWER Online tool now offers Experian Automotive's AutoCheck vehicle history reports, giving dealers another provider to aid them in marketing their inventory and increasing transparency. As noted by KBB, the KARPOWER Online sales tool is designed to help dealers value, manage and market vehicle inventory online. On the […] [Read More]