NextGear Capital formed a partnership with AuctionACCESS on Tuesday, resulting in auctions having the capability to show dealers updated credit availability before they enter the lanes, both physical and online. Officials also highlighted this automated system can allow auctions to quickly and efficiently originate floor plan transactions for their dealer customers. NextGear Capital chief information […] [Read More]

KCI Kansas City is preparing for its fifth annual Corn Roast Sale, and owners say with business on an upward trend, it could be the auction’s biggest sale ever. “As the Corn Roast Sale nears, we are anticipating an increase in fleet, lease and dealer consigned units,” said Doug Doll, co-owner of KCI Kansas City. […] [Read More]

In another effort to provide the best customer experience possible, General Motors is changing the way its customer call centers operate. The automaker is staffing customer engagement centers with expert advisors who can reach out to new owners to answer questions and are empowered to resolve most issues on the spot. “We’re not waiting for […] [Read More]

WASHINGTON, D.C. — Nearly simultaneously as the director of the Consumer Financial Protection Bureau reportedly responded to a series of policy questions from the House Democrats, lawmakers from the other side of the aisle fired a list of inquiries about how the agency intends to regulate auto lending. A total of 35 Republicans led by […] [Read More]

CHICAGO — TransUnion didn't hesitate in stating the slight uptick in the national auto loan delinquency rate occurred because of a rise in delinquencies for subprime borrowers. This week, analysts found that delinquencies for subprime buyers crept up to 5.50 percent in the first quarter from 5.09 percent a year earlier. As a result, the […] [Read More]

COLUMBUS, Ohio — Huntington recently announced that it is expanding its successful auto dealer financing business into Connecticut and added key personnel into the state to support the initiative. Huntington indicated that the company hired a seasoned team with local market knowledge for the state. Huntington is processing applications now and expects to provide financing […] [Read More]

REDWOOD CITY, Calif. — Some of the May metrics included in the latest RDN Monthly Analytics Update reversed course from the downward movement reported a month earlier. Analysts indicated May recovery volumes ticked up 2 percentage points versus the April level. Looking year-over-year, the May volumes figure moved 7 percentage points higher than the year-earlier […] [Read More]

Some of the May metrics included in the latest RDN Monthly Analytics Update reversed course from the downward movement reported a month earlier. Analysts indicated May recovery volumes ticked up 2 percentage points versus the April level. Looking year-over-year, the May volumes figure moved 7 percentage points higher than the year-earlier mark. However, RDN still […] [Read More]

Following the completion of a four-market pilot program, nationwide repossession and skip-tracing firm American Recovery Service selected Recovery Industry Services Co. as its partner to perform compliance inspections for the entire ARS collateral recovery agent network. ARS highlighted that RISC performed in-depth inspections on agents in Miami, Phoenix, Dallas, and Houston. Inspections are currently being […] [Read More]

Two of the largest publicly traded dealer groups — Group 1 Automotive and Sonic Automotive — made moves this week to improve their retail performances. First, Group 1 acquired Rountree Ford Lincoln in Shreveport, La., a dealership executives expected to generate $80 million in estimated annual revenues. “We are delighted to strengthen our relationship with […] [Read More]