MIAMI — Since LeaseTrader.com launched in 1999, the average age of lessees on the site has climbed almost six years, and the age group that has shown the most growth in the last five years has been the age 50-and-up demographic, according to the Web site. More specifically, LeaseTrader.com noted that lease drivers on the site during […] [Read More]

LEVITTOWN, N.Y. — DealerUps recently finalized an integration of the lead scoring solution from R. L. Polk & Co. into its customer relationship management system to enhance dealership databases. Executives believe the integration benefits dealers because of standardized address information, elimination of undeliverable addresses, and valid contact information such as phone numbers and e-mail addresses. The also stress it appends key market data. […] [Read More]

CALABASAS, Calif. — Dealers looking for a free application to enhance their presence and post inventory listings on Facebook now can choose the one released Wednesday by Gumiyo, a provider of mobile marketing solutions. Gumiyo executives said that their MyShowroom Facebook application can be coordinated with the offerings from other dealer solution providers and media companies. […] [Read More]

NASHVILLE, Tenn. — Dealerskins, a Web site solutions provider for dealers, recently promoted one of its executives to development manager. Assuming the role is Steve Blades, who has been with Dealerskins since 2005. Blades started with the company as a Web developer, building applications, managing large upgrades to Dealerskins' core application framework and helping with infrastructure migration. […] [Read More]

RICHMOND, Va. — As part of its Regional Giving Program, the CarMax Foundation awarded two grants this week to non-profit organizations. The foundation awarded the Texas Lions Camp — which is located in the San Antonio area — a $22,500 grant on Monday, and then on Tuesday the foundation announced a $5,000 grant for Junior Achievement of Oklahoma. The […] [Read More]

IRVINE, Calif. — In the spirit of Valentines Day being right around the corner, the editors from Kelley Blue Book created a list of their 10 Newest Car Crushes. The majority of the vehicles on this list are concept cars, but a couple of them might be in dealer inventories soon. KBB mixed together offerings from […] [Read More]

DETROIT and LAKE SUCCESS, N.Y. — GMAC Financial Services is being added to DealerTrack's credit application network, the two companies announced late Wednesday afternoon. The lender said teaming up with DealerTrack will help expand its customer base, as GMAC will have access to retail auto financing applications from "essentially all" dealers in the U.S. and Canada […] [Read More]

WASHINGTON, D.C. — The latest data available from the Federal Reserve showed the average interest rates for new-car loans at auto finance companies declined in December after moving upward the month before. More specifically, the Fed calculated the average interest rate in December was 3.26 percent. For November, this number came in at 3.73 percent. In […] [Read More]

PALATINE, Ill. — Executives recently revealed a new branding strategy that aligns City Auto Recovery Services, International Intelligence Agency and MVTrac. The new organization now will be known as MVTRAC and plans to continue providing vehicle intelligence networks for law enforcement, auto finance, asset recovery, transportation and other vehicle industries. "The goal of this strategic rebranding is […] [Read More]

NEW YORK — DBRS has published its final rating methodology for U.S. wholesale auto loan asset-backed transactions. The company indicated its final methodology does not have any substantive changes from the proposed wholesale loan methodology, which was published on Oct. 21 with a request for comments. Executives explained the methodology provides an overview of the key […] [Read More]