PITTSBURGH — PNC announced this week that it has reached a deal to purchase the U.S. arm of Royal Bank of Canada for $3.45 billion, or a $112 million discount on "tangible book value," according to management. With about $25 billion in assets, including auto loans, Raleigh, N.C.-based RBC Bank has 424 branches in North Carolina, Florida, […] [Read More]

With my travels all throughout this nation, I have a unique opportunity to work with and train people from every walk of life — from the auto finance industry to the bail bondsman to the recovery agent. No matter their line of work, the most common questions I am asked are: “When should we start working […] [Read More]

With communications technology evolving rapidly and federal regulations still in flux, ACA International, the Association of Credit and Collection Professionals, created a series of recommendations on how debt collection can be handled efficiently and fairly. ACA International recently rolled out what it titled, “The Path Forward: ACA International’s Blueprint for Modernizing America’s Consumer Debt Collection […] [Read More]

ADESA Golden Gate celebrated its eighth annual Crabfest Sale recently and not only offered more than 2,100 vehicles from a bevy of consignors, but treated dealers to a seafood feast, as well. Just before the San Francisco-themed sale, the event included a cornucopia of more than 1,000 pounds of Dungeness crab and clam chowder soup in […] [Read More]

The Government Accountability Office’s auto safety report released last week called for the National Highway Traffic Safety Administration to tweak its recall processes, noting considerable “room for improvement” in how the U.S. handles automobile recalls. [Read More]

AutoTrader.com’s deal to acquire VinSolutions has closed, meaning VinSolutions is now officially an AutoTrader subsidiary. The purchase agreement was originally revealed on May 18, and late last week, AutoTrader announced the transaction’s completion. As some may know, VinSolutions provides such tools as customer relationship management, Internet lead management and inventory management solutions, as well as […] [Read More]

Continuing the evolution of how physical auctions operate, ServNet owners recently asserted the group’s focus on technology with the launch of a branding campaign that established AuctionPipeline as the Internet platform for ServNet auctions. “In emphasizing what we as ServNet auctions do to deliver auction service of the highest caliber to our customers across the […] [Read More]

AutoUSA recently launched ShowPro powered by HookLogic, an incentive solution for dealers aimed at increasing incremental sales by turning more Internet leads into “shows.” ShowPro can allow dealers to offer a financial incentive to in-market customers, motivating them to visit the dealer’s showroom. ShowPro also can provide dealers with territorial exclusivity, designed to ensure that […] [Read More]

In light of the supply dearth, several Japanese models are seeing significant gains in the number of consumers looking to buyout existing leases on the vehicles, according to LeaseTrader.com. The shoppers see this as an alternative method of car buying, the site indicated. What’s more, with high used values on these units, some customers will […] [Read More]

In today’s digital business environment, automakers are turning more and more to alternative methods to showcase their products to consumers. Ford, for one, has jumped into a rather unique advertising platform with its marketing program revealed last week. The automaker is hoping to generate exposure for its Fiesta and Edge products by reaching out to […] [Read More]