MaxTradeIn — a free consumer website that aims to help owners trade in or sell their used vehicles at trusted local dealers that want another inventory source — finalized a deal on Tuesday for $1.2 million in seed money led by Elevate Ventures and private investors. Officials highlighted that MaxTradeIn has experienced rapid growth since […] [Read More]

SAN DIEGO — As the subprime vehicle finance industry continues to gain steam, organizers of Used Car Week 2013, presented by Auto Remarketing and SubPrime Auto Finance News, responded with a new event at one of the premier U.S. destinations. New to the slate of conferences is the SubPrime Forum, a two-day event that will […] [Read More]

MINNEAPOLIS — van Wagenen Financial Services rolled out two new insurance products aimed at boosting its offerings to both dealers and lenders. Aimed at riding the rapid growth trajectory with the subprime lending market, van Wagenen released a point of sale insurance product for lenders and buy-here, pay-here dealers. The company believes the offering can […] [Read More]

ALEXANDRIA, Va. — The American Bankruptcy Institute found that total bankruptcy filings in the United States for May decreased 12 percent year-over-year. Drops at that level or higher have been reported during four of the first five months of 2013. According to data provided by Epiq Systems, bankruptcy filings totaled 96,430 in May, down from […] [Read More]

FORT LAUDERDALE, Fla. — AutoUSA Internet Sales Solutions recently introduced Shop-By-Payment for Payment Pro, powered by DriveItNow, a patent-pending payment marketing tool that offers consumers a new way to shop on dealer websites. The company explained that when a customer visits a dealer website with Shop-By-Payment, they are given the option to search inventory based […] [Read More]

After having more than 300 registrants for each of its first two sessions, Vendor Transparency Solutions set the time for its next free recovery compliance webinar. The next session with Michael Dougherty of Weltman, Weinberg & Reis is going to focus on tips, pointers and suggestions for preparing for a client audit conducted by the […] [Read More]

There are modest improvements on the horizon, but it appears the cumbersome used-car depreciation challenges experienced in the plug-in electric vehicle segment will linger for some time. That’s according to a new white paper from NADA Used Car Guide dissecting this slice of the alternative-fuel market titled “Plug-in Electric Vehicles: Market Analysis and Used Price […] [Read More]

Lithia Motors boosted its dealership presence in its home state on Monday, acquiring the O'Brien Auto Group of Salem in Salem, Ore. Group officials said the stores now will be named BMW of Salem, Honda of Salem and Volkswagen of Salem. Lithia expects these stores will add $110 million in estimated annual revenues. “We are […] [Read More]

For the second time in a week, a recall is coming from Chrysler Group. This time, the automaker said it will recall approximately 14,800 vehicles to recalibrate their powertrain control modules. Officials indicated the recall affects only 2013 Dodge Dart models equipped with a 1.4-liter engine and dual-clutch transmission. Chrysler explained internal testing uncovered a […] [Read More]

The National Independent Automobile Dealers Association this week announced its endorsement of an F&I service for independent dealers it called “best in class.” Named by the NIADA as a National Member Benefit Partner is Vantage Finance, the only company of its kind to be endorsed by the association. “No other organization serves the independent dealer’s […] [Read More]