Normal 0 false false false EN-US X-NONE X-NONE NEW YORK and SAN FRANCISCO — Both JPMorgan Chase and Wells Fargo & Co. enjoyed healthy gains in auto originations during the second quarter as both companies watched growth come "across the credit spectrum." Both companies recently reported their second-quarter financial statements, and each one generated doubled-digit […] [Read More]

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Normal 0 false false false EN-US X-NONE X-NONE PHILADELPHIA — VINtek, a provider of automotive collateral management and electronic lien and title services for auto finance lenders, announced today it has been named as the endorsed ELT service provider of the South Dakota Bankers Association (SDBA). Officials recapped that back in 2008, South Dakota passed […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE DETROIT — With a credit report being such a significant element in the vehicle financing process, Consumer Financial Protection Bureau director Richard Cordray told the gathering assembled for a credit reporting field hearing how regulators might oversee how credit report providers do business. Cordray insisted earlier today […] [Read More]

With the first half of 2012 in the books, sales are up and prices are down. Used-vehicle pricing continues to drop as the new-vehicle sales SAAR improved to 14.1 in June, according to the July edition of the Guidelines report from NADA Used Car Guide. But there is one section of the market that is […] [Read More]

As evidence of the continued downturn in used values, June marked the first time in four months that average sale prices at auction came in below $10,000, according to the latest analysis from ADESA’s Tom Kontos. ADESA Analytical Services’ monthly data indicates that the average wholesale price in June came in at $9,893, the lowest […] [Read More]

Say a shopper interested in buying a certified pre-owned vehicle walks onto a dealer’s lot and his or her credit isn’t mature yet, or perhaps it has taken some lumps. That’s one area where Scott Penza has found the F&I element of CPO has come in handy for his dealers. [Read More]

Several dealers have asked about the value of using a dealership’s website analytics for managing used-vehicle inventories. [Read More]

There’s good news coming from the lanes at Brasher’s Sacramento Auto Auction. With two exceptions, all segments of the wholesale used-vehicle market are strong in the area. In making his post-sale report for the July 10 sale at Brasher’s Sacramento, John Brasher noted a “really, really strong” market in almost all segments, including trades, repossessions […] [Read More]

As the auto industry hit the half-way mark for the year, Edmunds.com took a look back at the past few months to see who “scored” big and which OEMs and vehicles notched the most sales. And with June car sales performing better than expected, 2012 pushed ahead by double digits from the first-half of last […] [Read More]