DES MOINES, Iowa — Iowa attorney general Tom Miller recently announced one of the state's independent dealers has agreed to stop what was alleged to be illegal repossessions of vehicles. In an agreement with the consumer protection division, called an assurance of discontinuance, Miller alleged that Goldy's Auto of Ottumwa, Iowa, illegally attempted to have […] [Read More]

The number of lease returns in 2013 is likely to climb by nearly half-a-million units year-over-year, according to Edmunds.com, which expects more than 2.5 million leases to reach end-of-term next year. That would be the highest number of lease terminations since 2010, creating what could be a flood of potential used inventory for dealers. When […] [Read More]

CarMax announced Thursday its second quarter results, which revealed increases in operating revenues, sales and net earnings. Company officials also shared that as used supply continues to rise, they expect sales to continue to look up for the used-car retailer. For the fiscal quarter ending Aug. 31, the company revealed a 7-percent increase in net […] [Read More]

The CPO Forum is drawing near, and the speaker list continues to grow. The event's lineup touts some of  the top automakers in the business and industry experts, who will share their take on reputation management and advertising strategies specifically tailored to the certified pre-owned market. And when the event gets rolling in the fall, […] [Read More]

High-tech features and a sense of excitement are more important to young car buyers than fuel efficiency, according to new data from research firm GfK. The company's report, released this week, notes that as Baby Boomers give way to Generations X and Y as the buyer market’s dominant forces, smaller vehicle models may be seeing […] [Read More]

With some 43 new alternative-fuel vehicles expected to hit the U.S. market by 2015, according to new information from Edmunds.com, Auto Remarketing sought projections on how these vehicles will impact the used-car side of the market. On Thursday, Edmunds released its projections regarding plug-in hybrid, battery-electric, diesel and fuel-cell electric vehicles, saying the surge of […] [Read More]

Reynolds and Reynolds recently announced that the U.S. Patent and Trademark Office has issued two U.S. patents relating to docuPAD, the F&I selling and document processing system for dealerships. Officials reiterated that docuPAD is a menu-driven, interactive F&I solution that can enable dealership personnel to engage consumers in the finance and insurance steps of a […] [Read More]

SACRAMENTO, Calif. — A little more than a week remains for Gov. Jerry Brown to possibly veto the California buy-here, pay-here dealer regulation. Should Brown choose neither to sign nor to veto the three bills, the measures still would become law anyway on Jan. 1, significantly changing how BHPH dealers operate in the Golden State. […] [Read More]

ORWIGSBURG, Pa. — Preferred Warranties recently rolled out a new app so dealers can use iPads to customize and compare protection plans, financing options and insurance products for customers anywhere on the lot and at any time during the sales process. The company explained this platform called iTapMenu can present coverage details, a benefit summary […] [Read More]

IRVINE, Calif. — Consumer Portfolio Services announced earlier this week the closing of its third term securitization of the year. The transaction also is CPS' sixth senior subordinate securitization since last year. In the transaction, officials tabulated that qualified institutional buyers purchased $147 million of asset-backed notes secured by automobile receivables purchased by CPS. The […] [Read More]