The Federal Trade Commission recently completed its systematic review of the Cooling-Off Rule and determined that no changes to the rule are warranted that would have impacted dealers. In making this determination, the National Automobile Dealers Association indicated the FTC rejected several proposed changes to the rule that would have affected dealers, including a proposal […] [Read More]

PureCars said Tuesday afternoon it has generated $5 million in new equity capital from Gemini Investors and Stage 1 Ventures that can help the company bolster its offering for dealerships. The auto technology company aims to work with dealerships of all sizes to “optimize returns on digital marketing and increase sales.” It debuted in 2007 […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE WASHINGTON, D.C. — As the Federal Reserve determined the average interest rates on new-vehicle loans from commercial banks ticked to the lowest point in recent memory, the American Bankers Association's latest Consumer Credit Delinquency Bulletin showed how these deals are turning negative at a slightly faster clip. […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE BENTONVILLE, Ark. — America's Car-Mart increased its network of buy-here, pay-here dealerships on Tuesday by rolling out its 119th store in previously uncharted territory. The newest location and the fifth the company has opened so far during its current fiscal year is located in Woodstock, Ga.    "Woodstock […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE ARLINGTON, Texas — SFG Finance announced Tuesday that the company's senior vice president of acquisitions, Robert Chickowski, will soon be retiring. Chickowski is stepping away from the company on Jan. 31. SFG Finance, a purchaser of auto paper from buy-here, pay-here dealers, franchised stores finance companies, banks […] [Read More]

PHILADELPHIA — VINtek recently highlighted the growing adoption of its VINtekTIME automotive collateral management system and processes as well as increased interest in its eSignature and eContracting solution by military-focused lenders, supporting thousands of military borrowers around the world.    Through its technology services and focus on lender customer satisfaction, VINtek has secured a 50 percent […] [Read More]

New automotive technology advancements continue to stream out of the Consumer Electronics Show in Las Vegas this week. This morning, Toyota revealed that beginning this year, the OEM will significantly increase the availability of SiriusXM across its entire vehicle line-up. Officials shared that SiriusXM will now be standard on the majority of Toyota's multimedia systems.  […] [Read More]

Safe-Guard Products International, an F&I provider in the auto industry, announced recently it has been purchased from H.I.G. Capital by an affiliate of Goldman Sachs, in partnership with management. [Read More]

In November, Mazda’s certified pre-owned program hit a record dealer enrollment count with 608 stores signed on.   Over at Ford, its CPO leadership talked recently about how dealership participation has improved, and subsequently shared how dealers and other parties have, as national CPO sales manager Todd Fites put it, “embraced the challenge of growing […] [Read More]

It seems Hurricane Sandy is not done with the automotive industry. Offering a take on December’s unseasonably strong wholesale prices, ADESA’s Tom Kontos noted in the latest “Kontos Kommentary” that the superstorm may have played a role in these high rates. “Some residual effects of Superstorm Sandy may be evident in the relatively strong wholesale […] [Read More]