NEW YORK — Moody's Investors Service explained that subprime auto lenders, in particular, use historical granular customer and loan characteristics to build and refresh custom scores that can supplement the information contained in FICO scores. Since auto lenders often develop and rely on proprietary, internal credit scores that tend to rank and order subprime credit […] [Read More]

CINCINNATI — With unemployment rates high, the job market remains unstable, and it seems to be affecting the auto industry, as well. Although consumers are not so much concerned with increased car payments, their worry lies in the length of the loans, according to Swapalease.com. According to a recent study from the site, 43 percent […] [Read More]

CRYSTAL LAKE, Ill. — Automotive Compliance Consultants insisted dealers subscribing to its services can save as much as $650 a month in credit bureau report markup fees. From the firm's Compliance Solved Web dashboard, subscribing dealers can download reports from Experian, TransUnion and Equifax. Automotive Compliance Consultants said it does not charge dealers a markup […] [Read More]

WASHINGTON, D.C. — American Bankers Association cautioned that cybercriminals are increasingly targeting small businesses such as dealerships, to transfer funds from accounts and steal private information, a fraud referred to as "corporate account takeover." The association contends that criminals can use spoofed emails, malicious software and online social networks to obtain login credentials to businesses' […] [Read More]

Social media is here to stay, forever altering the way business is done, including within the auto industry. And rather than waiting for its customers to contact the company, at least one OEM is using social media to take the initiative and reach out.   General Motors recently reported on its Customer and Relationship Services Group […] [Read More]

The National Auto Auction Association has elected a vice president for the 2012–2013 term, and chosen for the post is Ellie Johnson. Johnson — the general manager of Manheim North Carolina in Kenly, N.C. — was elected at last week’s NAAA Conference. [Read More]

The Toyota Certified Used Vehicles program has grown with enhancements and additions over the years, but the members of the used-car department at Longo Toyota still “know the program, basically, inside and out” because they can be fully devoted to it, says pre-owned sales director Will Amiri. The veteran used-car staff members at Longo have […] [Read More]

The most recent RDN Monthly Analytics Update showed August recovery volumes increased 3 percentage points from July levels. However, the reading also ended up 17 points below year-ago levels. RDN indicated August recovery orders rose 4 percentage points from the previous month, but dropped 10 percentage points year-over-year. The RDN Recovery Market Trend Summary — […] [Read More]

Penske Automotive Group revealed today that it has acquired Savage BMW/MINI of Ontario, stores located in Ontario, Calif. Officials highlighted that Savage BMW/MINI of Ontario is ranked in the top 25 percent of BMW dealerships in the United States based on new-unit volume. Penske believes the acquired dealerships are expected to contribute approximately $125 million […] [Read More]

Wholesale prices are looking quite similar to the market dealers experienced last year at this time, according to the latest  "Beggs on the Used Car Market" video report. And most car and truck segments all saw mild declines. First, the car segments saw an average decline of $70 in the lanes last week, reported Ricky […] [Read More]