CarGurus joined a crowded fray Monday by launching a free online vehicle listings tool that combines a price-guide element into the solution. Site executives explained its vehicle listing tool includes “Live Market Value” pricing guidance. Based on the analysis of more than 2 million active vehicle listings, CarGurus contends “Live Market Value” can take into account numerous […] [Read More]

ALEXANDRIA, Va. — According to an upcoming ABI Journal article about consumers who filed for bankruptcy last year, researchers found that the majority of filers were Caucasian, married, employed, between the ages of 35 and 54, had at least a high school education and made no more than $30,000 annually. These revelations came through a survey […] [Read More]

TROY, Mich. — Open Dealer Exchange announced this week that Crescent Bank & Trust will integrate directly into the dealer management system to enhance the loan approval process. Headquartered in New Orleans, CB&T is a leading indirect subprime lender that does business from more than 20 offices throughout the country. As part of their growth strategy, […] [Read More]

CINCINNATI — Security National Automotive Acceptance Corp. recently announced its chief operating officer has a new role with the company. The company elevated Brian McDonald to president. He now reports to Becky and Ted Catino, co-chief executive officers of SNAAC. In this position, the company wants McDonald to work closely with the Catinos as well as […] [Read More]

NEW YORK — Thanks in large part to unprecedented seasonal strength in the used-vehicle market, Fitch Ratings reported that both prime and subprime auto loan asset-backed securities showed delinquency improvements in October. Another factor helping to push the drops in delinquencies was two months of lower jobless claims, Fitch highlighted. "Historically, high used-vehicle values brought on […] [Read More]

The Barrett-Jackson Auction Co. recently announced that its Scottsdale event will include nine American muscle cars consigned by leading collector Keith Henderson, most of which are from the 1960s and 1970s. These items will be offered at no reserve. The 40th Annual Barrett-Jackson Scottsdale Auction is being held Jan. 17-23 at the WestWorld of Scottsdale. The SPEED […] [Read More]

Recovery Assurance, a repossession management firm recently founded by American Collateral Recovery Group, has now partnered with Inilex, a provider of GPS-enabled telemetry solutions.  Company officials explained Inilex has developed a proprietary program specifically designed to assist in monitoring and recovering lost vehicles. With this unique program, Recovery Assurance insists it can monitor and coordinate […] [Read More]

Is sending letters through the mail still the best way for debt collectors to make a connection with consumers in default? The most recent monthly membership survey of ACA International, the Association of Credit and Collection Professionals, showed the effectiveness of letters could be wavering. The association first asked participants to evaluate their use of […] [Read More]

Edmunds.com doesn’t think the industry should be alarmed by its November new-vehicle sales forecast that shows month-over-month and year-over-year comparisons going in different directions. Site analysts believe November new-vehicle sales, including fleet, are expected to be approximately 865,500 units. That figure represents a 17-percent increase from November of last year. However, it’s an 8.1-percent decrease […] [Read More]

Federal officials announced last week that the early proceeds from General Motors’ initial public offering allowed the automaker to pass a significant threshold in money returned to the U.S. Department of the Treasury. With GM sending $11.7 billion to the Treasury, the total amount of Troubled Asset Relief Program funds returned to taxpayers now exceeds […] [Read More]