For some ServNet auctions, summer marks the season to think outside of the box when it comes to sales. News coming out of the auction group highlighted a series of successful promotional sales. First up, Carolina Auto Auction launched its summer promotional season with its annual Corn Roast in June. The auction featured more than […] [Read More]

FORT WORTH, Texas — General Motors Financial posted year-over-year gains in quarterly earnings and loan originations as company executives highlighted how they helped the parent automaker maintain its "industry leading leadership" for subprime loan penetration. GM Financial indicated the OEM reached a subprime loan penetration of 8.6 percent in the second quarter, above what the […] [Read More]

GREELEY, Colo. — Many buy-here, pay-here dealerships originate contracts with interest rates at 20 percent and higher. It's one of the reasons why store managers in California cheered a year ago when the governor vetoed a measure that would have capped APR at BHPH dealerships in the Golden State at 17.25 percent. However, in the […] [Read More]

LOS ANGELES — Analysts from GoBankingRates.com recently created a list of new vehicles recommended for subprime buyers. Headlining the list of "5 Cheap, Stylish Cars for Subprime Borrowers" was the Toyota Corolla. The site went with this model because of its five-year cost of ownership as well as fuel efficiency. The other picks made by […] [Read More]

CHICAGO and WASHINGTON, D.C. — Finance managers trying to finalize that vehicle contract for a new college graduate might continue to have trouble getting that debt-to-income ratio at a point where the paper is purchased by a finance company. A new Google Consumer Survey commissioned by TransUnion of consumers who graduated from college in the […] [Read More]

CNW Research is calling for a slim upswing in used-vehicle sales this month, but that’s not what the firm found most interesting about the used market. Stealing the show in July, it said, are the independents. After a few lean months this year, independent dealers are leading the pack in July, with franchised dealers projected […] [Read More]

A recent study from Google and Ipsos OTX MediaCT makes several bold predictions for mobile marketing this year, including: —One billion people will soon use mobile devices as their primary Internet access point. —One million small businesses globally will build a mobile website. —Smartphones will prove exceptional at driving new consumer behavior. —Tablets take their […] [Read More]

The ServNet Auction group is celebrating the addition of its newest member, DAA Seattle, raising the company’s membership count to 32 as it marks its 25th anniversary year.  Owned and operated by the McConkey Auction Group, DAA Seattle held its grand opening sale on June 25, running six full lanes of dealer-consigned inventory. “We are […] [Read More]

We covered the “M” in MARK, now it’s time for the “A”: affordability. Affordability is about demonstrating that your vehicle’s price is fair. Most car shoppers have a fear of getting ripped off, so providing evidence that your car is a great value at a fair price is crucial. Many dealers miss an easy way […] [Read More]

Sanford Auto Dealers Exchange announced this week it has just completed the construction of a new Remarketing Center that officially opened this past June. [Read More]