SCHAUMBURG, Ill. — As average loan terms for a new vehicle in the fourth quarter jumped to an all-time high, Experian Automotive also discovered the amount of financing for deep subprime buyers climbed significantly, too. Experian said the average new-vehicle contract moved to 65 months, up from 63 months in Q4 of 2011. Average terms […] [Read More]

GAINESVILLE, Ga. — According to a new report developed by Black Book and Fitch Ratings, vehicles are likely to depreciate at a greater degree this year, though not enough to present any major obstacles to U.S. auto loan and lease ABS. Black Book said today that vehicle depreciation rates averaged just below 13 percent in […] [Read More]

WASHINGTON, D.C. — As the agency's investigations within the auto lending space deepen, the ongoing clash about whether Richard Cordray will remain director of the Consumer Financial Protection Bureau will continue next week. The U.S. Senate Committee on Banking, Housing and Urban Affairs will conduct a hearing about Cordray's nomination on Tuesday. During the same […] [Read More]

LAKE SUCCESS, N.Y. — Dealertrack Technologies announced the next free webinar to help dealers and F&I managers remain compliant. The next session titled, "OFAC Checks, Risk-Based Pricing and Adverse Action Notices: Three Critical Tasks for Your Dealership," will take place on March 14 at 2 p.m. ET. This webinar will be hosted by Dealertrack compliance […] [Read More]

April is creeping closer, and Auto Remarketing Canada 2013 Conference organizers are ramping up the agenda full of industry experts and exciting content. The full agenda is now posted online and features workshops, sessions and panels that will focus on one of four key subject areas shaping the used-vehicle industry: retail, remarketing, regulatory/compliance/F&I and reputation […] [Read More]

The American Recovery Association enhanced its fifth annual North American Repossessors Summit by expanding to a three-day event to include a lender and recovery agent golf tournament, more networking opportunities and more speakers — all focused on the power of performance. Running from April 25—27, ARA is anticipating 600 professionals from the collateral recovery and […] [Read More]

Only four of the 14 used truck segments that Black Book tracks saw their prices go up last week, and one of those categories was the compact crossover. The firm shared some interesting data points Tuesday morning to better illustrate just what has happened in this class, including why it has been so hot on […] [Read More]

Stemming from success through a deal consummated last fall, Penske Automotive Group is diversifying further beyond the retail market, as the company announced today that it has acquired the assets and franchise rights to become the operator of Hertz rental car locations in certain markets throughout Indiana. Penske said it will now operate more than […] [Read More]

Dominion Dealer Solutions said today it has broadened the scope of its PRIME Response dealer reputation management program with social media engagement solutions and services. What PRIME Social will offer dealers is a tool for posting, sourcing and tracking social engagement, the company explained. “Going forward, dealers must have a plan for their entire web […] [Read More]

Dealers in the Lone Star State have a newly-endorsed option for dealer management systems. This week, Dealertrack Technologies and the Texas Automobile Dealers Association announced TADA’s endorsement of Dealertrack’s dealer management systems, inventory management, sales and F&I, registration and titling, and interactive solutions for use by Texas dealers. Bill Wolters, president of TADA, said, “Dealertrack […] [Read More]