Recent data from PYMNTS.com reveals a troubling trend: borrower credit scores are plunging following a rise in student loan delinquencies. While many financial institutions may see this as a red flag, savvy buy-here, pay-here dealerships can recognize a golden opportunity: increased demand from credit-challenged consumers who still need reliable transportation. Millions of Americans are now […] [Read More]

Advocates are encouraged and concerned following the release of a new report on Tuesday from the U.S. PIRG Education Fund and Frontier Group that analyzed a portion of complaints published by the Consumer Financial Protection Bureau (CFPB). While not specifically mentioning auto finance, researchers discovered complaints from servicemembers, veterans and their families about problems with […] [Read More]

HGreg has again put its money where its mouth is. The Québec-based dealership group, which operates 49 locations in Canada and the U.S., donated $55,000 to the 38th Enfant Soleil Telethon, held Saturday. Enfant Soleil is a nonprofit that raises funds to support the development of quality pediatrics for sick children in Québec. HGreg, a […] [Read More]

TraXtion, a provider of tire diagnostic software systems, has promoted auto industry technology veteran Brad Kokesh to president and chief operating officer. Kokesh, who has served as TraXtion’s chief revenue officer since joining the company in late 2023, will lead day-to-day operations and strategy. Founder Roger Tracy will continue to serve as CEO. “Brad has […] [Read More]

DriveCentric and Urban Science have teamed up to tell car dealers about the ones that got away. The CRM provider said its “bi-directional integration” with automotive consultancy and technology firm Urban Science provides Urban Science’s updated-daily insights on lost sales through the DriveCentric CRM’s existing workflow, allowing dealers to identify leads that purchased from same-brand […] [Read More]

Corporate Insight (CI) recently released its latest Fintech Monitor report examining how and why customers choose fintechs or incumbents for their banking needs. The report also offered new insights on preferences across generations, income levels and banking relationships. The report examined a first quarter survey of 972 bank account holders, including those with fintech accounts […] [Read More]

Hyundai Capital America (HCA) is now being led by a former c-suite executive at Ford Credit. On Monday, HCA announced Jim Drotman as its president and CEO to lead its partnerships with Hyundai Motor America, Kia America, and Genesis Motor America. Drotman is also being asked to better serve Hyundai, Kia, and Genesis dealers and […] [Read More]

Kashable, a fintech platform that provides access to “socially responsible credit” and financial wellness solutions for employees, got its own boost of financial resources last week, announcing the closing of a $250 million credit facility. According to a news release, Nomura Corporate Funding Americas served as the lead lender and agent in the facility. Kashable […] [Read More]

The Federal Reserve released a statement recapping chair Jerome Powell being invited to the White House for a meeting with President Trump on Thursday. The statement indicated Powell and Trump discussed economic developments including for growth, employment, and inflation. “Chair Powell did not discuss his expectations for monetary policy, except to stress that the path […] [Read More]

Group 1 Automotive announced a $1.0 billion increase in its revolving syndicated credit facility to $3.5 billion, as well as an extension of its maturity date to May 30, 2030. The dealership group, which operates 263 dealership locations and 39 collision centers in the U.S. and U.K., said the syndicated credit facility can be expanded […] [Read More]