As many in the industry predicted, vehicle damage caused by Hurricane Sandy is pushing wholesale prices up. According to NADA Used Car Guide, wholesale prices over the first three weeks of November were “noticeably stronger” than what is normally seen for the period. [Read More]

On Tuesday, Kelley Blue Book provided Auto Remarketing respective lists of the 25 most-researched used and new vehicles on Kbb.com, and topping both charts for November was the Honda Accord. What’s more, Honda claimed the top two spots on each list, as the Civic was the second most popular used car, and the CR-V was […] [Read More]

As insurance claims continue to stream in, estimates for the number of vehicles damaged by Hurricane Sandy continue to rise. The National Insurance Crime Bureau said earlier this week that revised estimates for the number of vehicles damaged as a result of Sandy has hit the 230,000 mark. And not surprisingly, vehicles in New York […] [Read More]

After revealing the opening of a new Louisiana store just last week, Payless Car Sales announced a new dealership in the Sunshine state is now open for business. Payless has opened a new store in Fort Myers, Fla. — the company’s second location in the state. Officials noted Payless Car Sales of Ft. Myers, located […] [Read More]

A grand opening celebration led to a community giveback for the Russ Darrow Group. As part of its recent grand opening celebration at Russ Darrow Nissan in Milwaukee, the group raised $5,600 to benefit the Breast Care Center at Froedtert & The Medical College of Wisconsin.  The centers are home to a team of breast […] [Read More]

While celebrating its 6 millionth vehicle, and five consecutive years of sales increases, Subaru of America already projected a timeline for when it might reach the next milestone. The company announced this week that it has sold its 6 millionth vehicle in the United States, a 2013 XV Crosstrek which was sold at Subaru of […] [Read More]

LAKE SUCCESS, N.Y. — Dealertrack Technologies announced today that Santander Consumer USA will be moving its title administration processing to Dealertrack's Total Title Solution next year. Officials said Santander made the decision to move its vehicle title management to Dealertrack to gain processing efficiencies and improve customer satisfaction.  "Due to the rapid expansion of our […] [Read More]

NEW YORK — For the third month in a row, auto loan defaults inched higher according to the latest data incorporated into the S&P/Experian Consumer Credit Default Indices. The October information compiled by S&P Dow Jones Indices and Experian showed the auto loan default rate ticked up to 1.14 percent, up from September's level of […] [Read More]

LOS ANGELES — This week, Westlake Financial Services established a new $30 million credit facility with MG Leasing Corp., a Japanese leasing company. Officials said the credit facility collateralizes Westlake's auto finance receivables. Westlake chief operating officer Paul Kerwin noted MGL is the first Japanese finance company to partner with Westlake. "We appreciate MGL's very […] [Read More]

BINGHAM FARMS, Mich. — Vincentric, a provider of automotive cost of ownership data in the U.S. and Canada, recently added an automotive lending decision support tool to its current product line. The company explained its system — Vincentric Dynamic Cost to Own — can now be used to support auto lending by providing unique insights […] [Read More]