ARLINGTON, Texas — SFG Finance, a purchaser of paper from buy-here, pay-here dealers, franchised stores, finance companies, banks and credit unions, recently added three industry veterans to its team. In light of enjoying significant year-over-year increases in volume, SFG Finance brought in these executives: —Adrienne Schlitz as senior vice president and manager of acquisitions —Mike […] [Read More]

TALLAHASSEE, Fla. — Auto Data Direct pointed out that tow, storage and recovery businesses in Florida should now be encountering changes in requirements for the good faith letter process and certificate of destruction procedures based on a new law passed by the Florida Legislature. As a result, ADD is offering what it believes is an […] [Read More]

As the data starts rolling in, June used sales are up both from May and the same period of 2012, according to CNW Research. Total used sales for June came in at 4.49 million, per CNW data. This is up from 4.39 million used sales in May and 4.38 million during the same period last […] [Read More]

McLaren Automotive, the British manufacturer of high-performance sports cars that recently rolled out a certified pre-owned program, appointed a new chief executive officer on Monday. Rising into the role is Mike Flewitt, who previously was the OEM’s chief operating officer, a position McLaren says no longer will exist now that he has been appointed as […] [Read More]

Auto Data Direct pointed out that tow, storage and recovery businesses in Florida should now be encountering changes in requirements for the good faith letter process and certificate of destruction procedures based on a new law passed by the Florida Legislature. As a result, ADD is offering what it believes is an affordable and effective […] [Read More]

Datalogix revealed today its new vice president of automotive client partnerships for DLX Auto. Tapped for the position is Stephen Dooley, who the company said "brings deep sales relationships with major automakers and dealers through past positions with OutdoorHub, Jumpstart Automotive Group, Newsweek Detroit, Geocities, and US News and World Report." [Read More]

After a year of multiple acquisitions, restructuring and rebranding, Primeritus Financial Services celebrated the company’s 500,000th repossession assignment on Monday.  Primeritus Financial Services chief executive officer Chuck Tapp reflected on the accomplishment and shared when he hopes the company will hit its next milestone in connection with its recovery management, skip-tracing and remarketing services. “It’s […] [Read More]

Continuing a longstanding family tradition, Diana Marie Mungenast has been named an ambassador of the National Automobile Dealers Charitable Foundation. The foundation, which provides annual grants to schools, food banks and civic causes, reports that Mungenast is the eighth family member of the well-known dealership group to be named an ambassador. She is the wife […] [Read More]

More than three-fifths of all used vehicles retailed by franchised dealers last year were acquired via trade-in, up from 57 percent in 2011, according to the NADA Data 2013. Breaking that figure down, the annual report from the National Automobile Dealers Association indicated that franchised dealers got 39 percent of the used cars they sold […] [Read More]

Strong prices for trucks in the lanes — or so the story goes for the  first half of 2013. But the tides have turned, with the past few weeks showing trucks having greater declining values than their smaller counterparts. Overall, last week’s market activity brough an average depreciation level for car and truck segments of 0.3 […] [Read More]