The same state that passed a pair of laws last year that intensified regulation of buy-here, pay-here dealers now is taking up a measure that would modify how a certified pre-owned vehicle can be sold. A bill that currently is in the California Assembly would include manufacturer’s safety recalls on the list of prohibited conditions […] [Read More]

Late last week, Black Book provided its analysis on depreciation during June, which showed that compact cars led the pack, dropping by 2.6 percent in value from May. Average segment values at the end of June were $8,765, a significant 18.9 percent lower than they were during the same time last year. Of course, gas […] [Read More]

SubPrime Auto Finance News, our sister publication, was on hand at the NAF Association’s 17th annual Non-Prime Auto Financing Conference last month. On the docket of SubPrime’s extensive coverage was a keynote session that included a question-and-answer dialogue between Hudson Cook chairman Tom Hudson and Rick Hackett, the then-assistant director at the Consumer Financial Protection […] [Read More]

More than three-fourths of all certified pre-owned sales in the first quarter included financing, according to J.D. Power and Associates. This point certainly helps back up the assertion that CPO and financing are “highly co-dependent” on each other, as Kia’s Brad Beer put it. [Read More]

We left off in our series with the first two keys to consumer relevance; in this post, we’ll explore the third key: MARK. MARK sums up the key factors that influence a consumer’s decisions when shopping for a car: Mission, affordability, risk and key differentiators. We’ll go deeper into detail about each of these in […] [Read More]

FARMINGTON HILLS, Mich. — While recent bulletins from federal regulators have been associated with F&I elements such as dealer participation, RouteOne reminded principals and managers about the potential consequences for not complying with rules associated with adverse action notices and risk-based pricing. RouteOne digital marketing manager Francis Gojcaj shared a question often asked by dealers, […] [Read More]

PARSIPPANY, N.J. — Avis Budget Group has purchased Payless Car Rental in a $50 million cash deal.  In announcing the news this morning, Avis indicated that adding North America's sixth largest car-rental company "will give Avis Budget Group a strong position in the fast-growing deep-value segment of the car rental industry." From a customer perspective, […] [Read More]

MISSION VIEJO, Calif. — Consumer finance management system provider DealerCentric Solutions recently made its online credit application platform optimized for mobile. The company highlighted the tool, "Get Pre-Approved in Seconds" comes at no additional charge for the more than 3,000 dealerships nationwide and online listing providers such as Cars.com that currently use the platform. DealerCentric […] [Read More]

ALEXANDRIA, Va. — Last week, the National Credit Union Administration announced that Mission Federal Credit Union of San Diego purchased Autoland, a national vehicle-buying service provider. Autoland, founded in 1971, is a credit union service organization (CUSO) based in Chatsworth, Calif., that serves more than 200 credit unions nationwide. Founded in 1961, Mission is a […] [Read More]

Hertz Global Holdings announced Thursday that the Federal Trade Commission has issued a final consent order regarding its acquisition of Dollar Thrifty Automotive Group. The acquisition has been in the news for the past year, as Hertz acquired Dollar Thrifty in November 2012, pursuant to an interim agreement and proposed consent order entered into between […] [Read More]