In a year of “encouraging” signs for the auction business, the amount of volume flowing into National Auto Auction Association member facilities climbed more than 6 percent in 2012, and sales for these auctions nearly reached 8 million units. That’s according to NAAA’s 16th annual survey of its members, conducted for the association by CliftonLarsonAllen […] [Read More]

A bulletin released by the Consumer Financial Protection Bureau on Thursday targeted dealer reserve and potential discriminatory practices as the agency took its first regulatory move aimed solely at the auto finance industry. The CFPB explained its bulletin was directed at indirect auto lenders that permit dealers to increase consumer interest rates and that compensate […] [Read More]

Carmark Certified Pre-Owned and CarMark Auto Finance are bringing dealers two free webinars this coming week, highlighting the programs and what they can offer stores. First, the CPO webinar, titled, "CarMark Certified Pre-Owned: A CPO Program for ALL Dealers,"  is scheduled for 2 p.m. (EST) on Tuesday. This offering will focus on how dealers can […] [Read More]

The recent trend of luxury vehicles being scarce across the country remained “quite strong,” according to the latest installment of vehicle scarcity data that is provided monthly to Auto Remarketing by AutoTrader.com. In fact, this past month, luxury models took up the majority of the top 10 most-scarce vehicle list in several designated market areas, […] [Read More]

J.D. Power and Associates’ Power Information Network explained why the strength of used-vehicle values should alleviate concerns about financing terms on new models rising to record lengths. Analysts found that the percentage of new-vehicle retail sales connected to a 72-month or longer loan is at a record amount, reaching 32.1 percent in March, an increase […] [Read More]

The leasing market has come roaring back: more leases written, greater penetration rates and even more vehicles flowing back in the used-car market off lease. So what does this mean for the used-vehicle side of your business? To figure this out, Auto Remarketing took five leasing trends highlighted in Manheim’s 2013 Used Car Market Report […] [Read More]

Late last week, Manheim Pennsylvania held its annual Xtreme Spring “100 Grander” sale that not only featured a vast array of highline and other specialty cars, but helped to raise $50,000 for the Wounded Warrior Project. The sale was part of the Manheim Pennsylvania’s highline auction. Included in the lineup were 360 vehicles valued at […] [Read More]

Technology is impacting the auction world in a big way, and KCI Kansas City shared how it is adapting its amenities to help dealers take advantage of growing innovation. The auction recently added photo booths to its auction bays and recondition facility, and it also brought in printed labels for vehicle check-in. Thanks to the […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE Normal 0 false false false EN-US X-NONE X-NONE WASHINGTON, D.C. — Legal experts and industry associations weighed in as the Consumer Financial Protection Bureau released a bulletin Thursday that targeted dealer reserve and potential discriminatory practices. Tom Hudson told SubPrime Auto Finance News that he expected to […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE WASHINGTON, D.C. — As dealer associations reacted swiftly to the Consumer Financial Protection Bureau's latest position on auto financing, organizations representing banking and financial institutions as well as credit unions all saw problems in the guidance, too. American Financial Services Association president and chief executive Chris Stinebert […] [Read More]