DEERFIELD BEACH, Fla. — World Omni Financial Corp. revealed this week it has named a new president. Tapped for the position is Dan Chait, who joined World Omni in 2002 after holding senior-level positions at US Airways, AutoNation and UniCaptial Corp. Chait, who most recently served as senior vice president at World Omni, will be […] [Read More]

CARMEL, Ind. — Coinciding with the opening of its fifth buy-here, pay-here dealership in North Carolina, J.D. Byrider recently reached a new milestone: $1 billion in outstanding retail installment contracts. During the 23 years the company has been in business, J.D. Byrider has sold and financed almost 1 million vehicles for customers with credit challenges […] [Read More]

CARMEL, Ind. — KAR Auction Services management reiterated a pledge this week to make Automotive Finance Corp. an even greater resource for independent dealers with intentions to expand floor planning opportunities for salvage vehicles as well as motorcycles, recreational vehicles and powersports units. Chief executive officer Jim Hallett described the plan during a conference call […] [Read More]

Vincentric recently unveiled its first-ever Best Value in Canada awards, recognizing brands and individual models based on cost-of-ownership data. Topping the list was Toyota, which not only earned the brand award for passenger cars, but also earned awards in 10 individual vehicle categories. Mercedes-Benz was named best value luxury brand, and GMC earned honors as […] [Read More]

More often than not, the used vehicles flowing into Canada are relatively new, a study from DesRosiers Automotive Consultants has found. In fact, more than two-fifths of the used cars imported to the country last year were model-year 2010, 2011 or 2012 units, DesRosiers indicated. Forty-two percent, to be more specific. This is just one […] [Read More]

KAR Auction Services’ Jim Hallett said he’s not “wishing his life away,” but the chief executive officer told Wednesday’s quarterly conference call participants that he’s looking forward to the conclusion of 2012, a span he called one of the “toughest years we’ve seen in our industry.” After finishing the third quarter that included preparations and […] [Read More]

Even in the aftermath of Hurricane Sandy — which has led many in the industry to predict a used-car price hike in the near future — NADA Used Car Guide expects nearly all the wholesale price segments it tracks to actually soften a bit this week. That said, there are two exceptions.  Both the luxury […] [Read More]

World Omni Financial Corp. revealed Wednesday it has named a new president. Tapped for the position is Dan Chait, who joined World Omni in 2002 after holding senior-level positions at US Airways, AutoNation and UniCaptial Corp. Chait, who most recently served as senior vice president at World Omni, will be replacing Frank Armstrong, who has […] [Read More]

Manheim’s Tom Webb said Wednesday that October wholesale values ticked either higher or lower depending on if the comparison was based on a seasonal adjustment. Webb indicated last month’s wholesale prices on a mix-, mileage-, and seasonally adjusted basis rose by 1 percent. Without that seasonal adjustment, the Manheim economist said prices fell by more […] [Read More]

For Ed Rykulski, fostering the certified pre-owned culture begins with putting as many vehicles as possible through the certification process. “First of all, we feel the most important thing is to certify every vehicle that you possibly can,” said Rykulski, the used-car manager at Al Serra Auto Plaza in Grand Blanc, Mich. “Second of all, […] [Read More]