In light of KAR Auction Services’ announcement that it is acquiring OPENLANE, both companies have issues to work through as they finalize this deal and gain regulatory approval. Among these challenges, is that OPENLANE owns Recovery Database Network and KAR owns PAR North America, both working in the recovery and repossession space. In an effort to clear up some […] [Read More]

Historically low wholesale supply and continually increasing new-car prices are pushing up values in the wholesale market, according to RVI. The company saw used values jump 1.1 percent month-over-month in July and 16.1 percent year-over-year, according to the latest RVI Market Index report. More specifically, the RVI Used Car Price Index was at 1.424 in […] [Read More]

Not being afraid of competition is one of the key tips the National Independent Automobile Dealers Association’s 2011 Quality Dealer of the Year revealed in an extended video interview. Scott Allen, owner of AutoLand in Haltom City, Texas, shared how moving his rooftop close to Fort Worth has been extremely beneficial. Allen originally started up his […] [Read More]

Including a special tribute to a pair of auction employees who died tragically, Missouri Auto Auction recently conducted the grand opening of a new reconditioning center at its operation in Columbia, Mo. Missouri AA held two special events to celebrate the expansion: a private party for the auction staff and a grand opening celebration for […] [Read More]

In anticipation of five major collector car auction houses expecting gross sales of more than $230 million, Hagerty rolled out a new complementary Web service to help collectors better understand the marketplace. Hagerty, an insurance agency for collector vehicles and host to a large network of collector car owners, explained it launched the tool, Collector […] [Read More]

TrueCar.com revealed this week not only some of late summer’s best deals on new cars, including discounts as high as 23 percent, but also what it forecasts to be the best day of the month to purchase a vehicle. Referencing its lastest TrueTrends report — which looks at consumer buying trends and manufacturer performance — […] [Read More]

In response to tremendous area need, AutoTrader.com is teaming up with Georgia Best Chevy dealerships, the Atlanta Braves and pitching legend John Smoltz to orchestrate “Drive Away Hunger.” The four-week campaign that began Wednesday is aimed to assist the Atlanta Community Food Bank, which provides nearly 60,000 people with emergency food each week through a […] [Read More]

NEW YORK — July auto loan defaults followed the same pattern established by other categories of consumer credit, pushing downward on both a month-over-month and year-over year basis. The S&P/Experian Consumer Credit Default Indices based on July data showed the auto loan reading ticked down to 1.27 percent. In June, it was 1.29 percent, and a year […] [Read More]

MASON, Ohio — Finance company Security National Automotive Acceptance Corp. recently revealed its new E-Signature product that aims to simplify the buying process for dealers and customers. The product offered through the company’s SNAAC Now proprietary system can be utilized simply by visiting snaacnow.com. According to company officials, dealers need only visit the site, “select […] [Read More]

MINNEAPOLIS —  VW Credit, the financial services arm of Volkswagen Group of America, recently chose Wolters Kluwer Financial Services as a preferred provider of vehicle lease contracts. Through this new relationship, officials explained VW Credit will provide Wolters Kluwer Financial Services' lease contracts at all Volkswagen, Audi and Bentley dealerships throughout the U.S. The contracts […] [Read More]