Record attendance, both live and online, marked the Charleston Auto Auction’s 12th anniversary celebration. The two-day celebration included a lender/vendor event on Thursday that featured live music, food and numerous companies offering services to benefit Charleston Auto Auction dealers.  Then on Friday, the auction hosted its anniversary sale, featuring more than 1,500 vehicles, 800 dealers […] [Read More]

NEW YORK — Auto loan default rates moved up marginally in February compared to the previous month, but readings according to S&P Dow Jones Indices and Experian still fell below year-ago levels. The February auto loan default rate came in at 1.11 percent, up just slightly from January's level of 1.10 percent. A year earlier, […] [Read More]

WASHINGTON, D.C. — Confirmation to keep the director of the Consumer Financial Protection Bureau at his post took a step forward Tuesday by a narrow margin. Along the way, opposition reiterated its stance to how the regulatory agency is organized. Members of the U.S. Senate Banking Committee voted Tuesday to approve Richard Cordray's nomination to […] [Read More]

LOS ANGELES — Westlake Financial Services and Primeritus Financial Services formed a collaborative partnership on Tuesday. Officials highlighted that Primeritus will leverage its recovery management and skip-tracing services to assist Westlake with skip-to-locate services for the finance company's post charge-off collateral accounts. "Primeritus has a solid reputation in the industry by helping companies improve their […] [Read More]

HANOVER Md. — Hudson Cook recently added a new partner to establish the firm's new office in Oklahoma City. Joining the provider of legal compliance services is Eric Johnson, who firm leadership said will focus his practice on federal and state consumer financial services laws and automotive finance. Before joining Hudson Cook, Johnson was a […] [Read More]

Making your dealership visible online is crucial — and that’s not news. New research from FordDirect — the joint venture between Ford Motor Company and its franchised dealers that provides digital marketing guidance — adds to the mounting pile of evidence supporting this sentiment. [Read More]

Anytime, anywhere bids are the goal of a recently launched auction industry app, the release of which was announced this week.  Copart announced the debut of its newest version of Copart Mobile, a mobile application that allows buyers to attend Copart’s patented live auctions and bid from any iOS device. The company said it re-launched […] [Read More]

Dealers interested in comparing their dealership data against regional and national numbers have an extended deadline to take part in a study by NADA University.    National Automobile Dealers Association and American Truck Dealers member dealers now have until April 30 to participate in the 2013 Dealership Workforce Study, which was launched last year by […] [Read More]

One day after the National Automobile Dealers Association reiterated how it is continuing to support dealers affected by last fall’s Hurricane Sandy just yesterday, Black Book reported the recent Northeast snowstorms have had a “ripple effect” on the industry. Black Book explained, “A ripple effect may soon be felt across the Northeast auto industry as […] [Read More]

As we near the first day of spring, the action in the lanes seems to be changing as fast as the weather. According to Black Book’s Ricky Beggs, this past week saw the second highest number of vehicle prices adjusted over a weekly period since the week ending Sept. 14, 2012. Over 2,350 vehicles were […] [Read More]