The American Financial Services Association submitted a letter to the New Mexico attorney general’s office Thursday outlining concerns about a proposed rule that imposes what the organization believes are “unnecessary and burdensome” inspection requirements regarding the age and condition of a vehicle. These requirements could fall on finance companies involved in wholesale remarketing activities as […] [Read More]

An offering at DAA Northwest’s 20th Anniversary Fundraiser Auction this past November led to the development of a new promotional event, auction officials say. At the fundraiser last fall, the auction offered an item new to the lanes: An Evening with the Cronkites, a musical act whose members include DAA’s vice president Greg Mahugh and […] [Read More]

SANTA MONICA, Calif. — Based on data Edmunds.com gave SubPrime Auto Finance News, there was a 363 basis point differential between the state with the highest average APR and lowest for all transactions by franchised dealers reported to the site in February. Pacing the nation for this metric was Louisiana with an average APR of […] [Read More]

FARMINGTON HILLS, Mich. — RouteOne rolled out additional enhancements to its free app for Windows Phone this week. The new enhancements include the ability to forward "sent" applications to a new finance source, securely text message with supporting finance sources, get payoff quotes, capture leads into the Lead Manager, view eContracting statuses on the Deal […] [Read More]

ALEXANDRIA, Va. — Stemming from what observers noted as three post-recession factors sparking the declines, the American Bankruptcy Institute said total U.S. bankruptcy filings decreased 21 percent in February compared to the same month last year. According to data provided by Epiq Systems, bankruptcy filings totaled 82,285 in February, down from last February's total of […] [Read More]

After numerous automakers in Canada, such as Volvo and Audi, reported double-digit certified pre-owned sales jumps for the first month of year, records once again are rolling in as February's Canadian CPO sales results hit the presses. And one program achieved a new record for year-to-date sales this past month. Audi of Canada sold a […] [Read More]

Here’s a ratio that should make used-car managers smile about finding potential certified pre-owned inventory down the road. Experian Automotive said nearly one of every four new vehicles that left franchised dealer lots during the fourth quarter had a lease contract. To be exact, the leasing share of new-vehicle financing in Q4 increased to 24.79 […] [Read More]

Spring is quickly approaching, and the auction lanes are beginning to show seasonal lifts in prices, according to NADA Used Car Guide. At the industry level, wholesale prices are expected to experience a “subtle” gain this week. Specifically, they are projected to rise by 0.3 percent, or $50, NADA UCG reported. [Read More]

Time is almost up! Tomorrow is the last day to nominate exceptional female colleagues and leading ladies in the industry for the Women in Remarketing Class of 2013. Don’t miss the chance to honor these deserving women. The April 15-30 print edition of Auto Remarketing will contain a special section designed to recognize the women […] [Read More]

In the Beige Book report released Wednesday by the Federal Reserve, dealers in a few of the 12 districts talked about how the used-car market was faring in their respective areas during the early part of this year. What did these dealers have to say? Starting with the Fourth District (Cleveland), the Fed pointed out […] [Read More]