FORT LAUDERDALE, Fla. — In what was a solid all-around year for AutoNation, the F&I department at its dealerships were humming along at an impressive clip, as well. The retailer has continued to boast strong F&I operations thanks largely to "better execution" and the value-centric process AutoNation has put into place when it comes to […] [Read More]

NEW YORK — Fitch Ratings' newest U.S. auto ABS index indicated subprime loans are showing more weakness of late while performance for U.S. prime auto ABS is still on solid footing. Analysts said auto loan ABS produced the strongest performance on record last year. Fitch noted annualized net losses on prime auto loan ABS are […] [Read More]

CHERRY HILL, N.J. — Subprime lender Pelican Auto Finance recently received an initial equity investment from funds affiliated with private equity firm Flexpoint Ford. Officials said Flexpoint Ford also has been granted the option to invest up to $50 million in the aggregate in Pelican.  As an indirect, deep subprime automotive lender, Pelican provides auto […] [Read More]

LAKE SUCCESS, N.Y. — Building on an existing partnership, Dealertrack Technologies today announced that Regional Acceptance Corp. successfully moved its title administration processing to Dealertrack's Total Title Solution. In addition to Total Title Solution, Regional Acceptance, headquartered in Greenville, N.C., and an affiliate of BB&T, uses Dealertrack's Credit Application and Digital Document Services in its […] [Read More]

As the average age of on-road vehicles rises, a new product could offer dealership service advisers a way to build stronger customer relationships, possibly paving the way to an upsell. Announced this week by Auto/Mate Dealership Systems is the launch of its mobile service department solution for auto dealership clients. Available currently for Windows-based tablets, […] [Read More]

Citing the growing need among dealers and auto finance companies to obtain affordable options for portfolio management and collateral protection, ITURAN recently unveiled a new, streamlined version of its popular Controlit technology. The new version of Controlit Core is designed to offer an even better value than its predecessor without compromising on quality. The new […] [Read More]

This morning, Kelley Blue Book highlighted the 2013 model-year vehicles and brands (in both luxury and non-luxury categories) with the lowest projected ownership costs. The top awards based on KBB’s 5-Year Cost to Own data for new models for the initial five-year ownership period went to Mazda and Lexus. Analysts indicated Mazda is the top […] [Read More]

While for many nominees for the TIME Dealer of the Year Award operating a dealership has been part of the family for generations, one individual in the running came to store management after a career in law enforcement. In the next group of profiles, these store executives all share what’s important to them — in […] [Read More]

Customer relationship management company CAR-Research XRM released this week its findings from its study that covers the top reasons car buyers leave the dealership without buying. Perhaps giving dealers some insight into ways to close the deal with potential customers, the findings show that “the top reason customers leave without buying is that they are […] [Read More]

A new residual-based financing program from the creators of the CarMark Certified Pre-Owned program, called CarMark Auto Finance, is hitting its stride just in time for dealers to take advantage of the opportunity during the profitable first months of the new year, according to company officials. [Read More]