The annual ADESA Boston Classic Car and Motorcycle Run, now in its 12th year, will be held this Sunday, Sept. 16 in Massachusetts. The fundraising event has raised hundreds of thousands of dollars in charitable donations over the years, ADESA reports, and today boasts more than 200 motorcycles and 100 vintage vehicles in its 30-mile […] [Read More]

WASHINGTON, D.C. — Along with a bruised credit history, sometimes subprime buyers — especially ones who might be doing business with buy-here, pay-here dealers — might not even have a bank account, a trend the Federal Deposit Insurance Corp. says is on the rise. The FDIC today released the results of its 2011 National Survey […] [Read More]

DETROIT — Ally Financial is launching Ally Balloon Advantage in New York and California this week as part of its broad set of financing options for dealers to turn both new and used models. The company plans to make the product available in other markets across the United States in the coming months.   Management explained […] [Read More]

SCHAUMBURG, Ill. — Experian Automotive discovered that new-vehicle leasing continued on a steady pace during the second quarter, coming in with a level similar to what the industry has generated outside of the worst point of the recent recession. Analysts determined leasing represented 24.40 percent of all new-vehicle financing during the second quarter. That level […] [Read More]

FARMINGTON HILLS, Mich. — RouteOne announced this week that SunTrust Bank is now participating on RouteOne's eContracting platform. According to data from Experian Automotive, SunTrust ranked among the top 20 auto lenders based on second quarter market share. The bank's share of the used market was 0.68 percent while its level in the new market […] [Read More]

Auto Remarketing has learned that on Sept. 3, Kia Motors America officially transferred responsibilities for the automaker’s certified pre-owned program to its fleet and remarketing department. The program had been administered by KMA’s retail development department along with JM&A. Kia also told Auto Remarketing that as part of the transfer, Michelle Hurney is moving over […] [Read More]

Renovo Services recently announced that it has successfully completed a SSAE 16 (Service Organization Control) 1 Type II audit, which examines the effectiveness of internal controls supporting Renovo Services' asset recovery and remarketing business. Company officials declared SSAE 16 is the new auditing standard developed a year ago by the American Institute of Certified Public […] [Read More]

One of the many highlights of the second-ever Re3 Conference not only is designed to recap how this year is playing out in the repossession, recovery and remarketing industries, but also to project how 2013 might unfold. Set to be a part of a session titled, “Remarkable Remarketing & Repossessions: The Industry’s Finest Share Their […] [Read More]

Sonic Automotive announced this week that its vice chairman and chief financial officer notified the company that he intends to retire, effective at a yet-to-be-determined date. David Cosper said his retirement will come sometime during the first quarter of next year. The company said that it is initiating a formal search for a successor CFO.  […] [Read More]

Luxury models piqued the interest of used-vehicle shoppers at Kbb.com in August as Kelley Blue Book determined that half of the top 10 units generating the greatest spike in activity growth came from that segment. While the 2009 Chevrolet Suburban 2500 paced activity growth with a whopping 180.3-percent month-over-month increase, three of the next four […] [Read More]