Auto finance is leading the way in a trend that’s likely to give executives and managers plenty of headaches. A global TransUnion analysis found that fraud continues to significantly impact businesses and their bottom lines. The newly released H2 2024 Update to the State of Omnichannel Fraud Report, which explores fraud trends in the first […] [Read More]

OTTOMOTO on Tuesday finalized a strategic partnership with Gestalt Tech, a financial technology company specializing in advanced data warehouse solutions for financial institutions. This collaboration integrates Gestalt Tech’s data warehousing and reporting tools with OTTOMOTO’s platform, significantly enhancing compliance and streamlining the financing process. With Gestalt Tech’s data-driven solutions, finance companies can now access real-time […] [Read More]

Automotive Risk Management Partners on Tuesday announced the addition of Ridgeback Network Defense to its portfolio of physical and digital compliance and cybersecurity programs. Automotive Risk Management Partners powered by Ridgeback Network Defense can offer a comprehensive cybersecurity package specifically designed for dealerships. It can provide real-time visibility and control over all devices connected to […] [Read More]

Agora Data announced on Tuesday that it has closed a $12 million transaction for Road Auto Finance, an indirect auto finance company. The capital solutions and advanced performance analytics provider for the subprime to non-prime market called the development a “forward-thinking transaction.” Agora said the deal with Road Auto Finance combines traditional refinancing structures with […] [Read More]

While Edmunds detailed the swelling of negative equity, Cox Automotive noticed credit access loosened to close the third quarter. The Dealertrack Credit Availability Index came in at 92.8 in September, representing a 0.4% improvement from August and stopping a streak of five consecutive months of tightening. However, Cox Automotive pointed out that the reading still […] [Read More]

Wholesale prices are falling, used cars are staying in dealer inventory longer and the entire industry is still gathering information about total damage created by two vicious hurricanes to strike in the past month. That’s the main assertions included in Black Book’s newest Market Insights released on Tuesday, as the analysis covered the week that […] [Read More]

A new online wholesale auto auction platform puts the “seller’s reputation on the line.” ACV Auctions co-founder and former executive Joe Neiman has launched DealerClub, a reputation-based exclusive marketplace where “each member puts their reputation on the line and is accountable for the vehicles they sell based on a rating system.” Buyers using DealerClub to […] [Read More]

Grace Huang — who is the president of inventory solutions at Cox Automotive, which includes Manheim — joined the Auto Remarketing Podcast at this month’s NAAA World Remarketing Convention for a conversation about the M&A growth in the auto auction market. Huang talked with Cherokee Media Group senior editor Joe Overby about build versus buy […] [Read More]

The North Carolina Automobile Dealers Association’s relief efforts for those affected by Hurricane Helene received a big boost from dealers in the Fayetteville area of the state. The association said in a LinkedIn post Monday that the Fayetteville New Car Dealers Association donated $25,000 to the NCADA Disaster Relief Fund to help North Carolinians in […] [Read More]

This week, industry veterans Travis Ross, Mike France and Jeff Anderson launched a specialized outsourced collections service tailored for buy-here, pay-here dealerships. The trio with more than 70 years of combined experience sees Auto Collect Solutions as a service provider that can “transform” collections processes, helping dealerships improve profitability, cash flow and customer relationships. “At […] [Read More]