WASHINGTON, D.C. — The upward march by the average interest rate on new-car loans at auto finance companies reached five months in a row in November, according to the Federal Reserve. Officials indicated the November average crept up to 4.63 percent from the October reading of 4.52 percent. The ascension began back in July when the […] [Read More]

LAKE SUCCESS, N.Y. — DealerTrack Holdings revealed Monday it has signed an agreement to acquire triVIN Holdings, a provider of title management services to lenders and vehicle registration services to dealers.  DealerTrack executives said they will pay approximately $131 million, net of any cash acquired. They indicated the transaction will be financed with existing cash. Management […] [Read More]

A Pennsylvania woman and her brother apparently had a very un-merry Christmas Eve. State police in Indiana County are investigating the incident that took place on Christmas Eve. According a story published by the Pittsburgh Post-Gazette, law enforcement indicated two men came to Diane Howard’s White Township home and told her brother they were sent by […] [Read More]

Later this month, a new member of the ServNet Auction Group will host its debut sale. El Paso Independent Auto Auction is a sister of DAA Northwest Kansas City Independent Auto Auction and will regularly hold weekly sales at 9 a.m. (MST) on Tuesdays. EPI, a four-lane facility, will have its first sale on Jan. 25. […] [Read More]

A Pennsylvania woman and her brother apparently had a very un-merry Christmas Eve. State police in Indiana County are investigating the incident that took place on Christmas Eve. According a story published by the Pittsburgh Post-Gazette, law enforcement indicated two men came to Diane Howard’s White Township home and told her brother they were sent by […] [Read More]

Stemming from recent growth thanks to contracts with three auto lenders and more expected, USA Recovery Solutions and Skip Masters announced the expansion of their operation last week. Executives said they have added 13,000 square feet to their headquarters, raising the total amount to 40,000 square feet. They noted the site is expected to handle the operation’s needs […] [Read More]

Certified pre-owned sales closed 2010 with 10 consecutive months of year-over-year improvements and 13 brands posted full-year CPO records, as the certified market showed improvement from a sluggish 2009. According to statistics provided by Autodata Corp., the industry moved 1.64 million CPO units during 2010. While this marked a 7.1-percent year-over-year gain, the industry has […] [Read More]

Sparking what he believes will be double-digit percentage gains for new-vehicle sales, Paul Taylor, chief economist of the National Automobile Dealers Association, rattled off five factors he expects to ignite that growth. “The auto industry is coming back strong from what has been a difficult economy,” Taylor projected. “Auto sales are playing a key role […] [Read More]

Total Resource Auctions revealed Friday that it has taken on control of 22 facilities that were previously part of SADISCO. These auctions are spread across seven coastal states of the South and bump TRA’s network size up to almost 100 facilities. [Read More]

American Auto Auction Group took what it called “an important step” late last week when it acquired a Texas operation. Group officials announced the acquisition of Texas Lone Star Auto Auction in Carrollton, Texas, a suburb of Dallas. Founded by the Dunning family in 2001, Texas Lone Star Auto Auction holds a weekly dealer consignment […] [Read More]