Credit automation is old hat in auto finance. Organizations have long used tools to automate credit processing and spare themselves thousands of personnel hours annually that would otherwise be devoted to the process. But when it comes to funding, automation is often absent or severely limited. The status quo for approving and funding contracts is […] [Read More]

How’s tax season going at your buy-here, pay-here operation? According to the latest update from the Internal Revenue Service, consumers are getting an average refund amount that’s 5.8% higher than last year. The IRS reported that through March 8, the agency had processed 61,877,000 returns, distributing $135.281 billion in refunds. That amount is 7.4% lower […] [Read More]

In the wake of the global pandemic, the automotive industry has been riding through a storm of unprecedented challenges and transformations. As the world gradually emerges from the shadows of COVID-19, a significant shift in the car retail landscape is becoming increasingly apparent, particularly in the electric vehicle sector. The pandemic has accelerated changes in […] [Read More]

Vroom, which in January said it would be ending ecommerce operations and winding down its used-car retail business, said last week it expects to complete that wind down by the end of the first quarter and that it has sold “substantially all of our used vehicle inventory.” The company, which also reported fourth-quarter and full-year […] [Read More]

Wisconsin-based Kunes Auto & RV Group will be closing its location in Monmouth, Ill., as it consolidates Kunes Chrysler Jeep Dodge RAM of Monmouth with a neighboring Kunes store, the company said. Kunes said it’s making the move “to bring efficiencies to the business,” and said customers from the Monmouth location will still have access […] [Read More]

The biggest name in the rental car business is getting a new leader. Hertz Global Holdings announced Gil West, former chief operating officer of Delta Airlines and General Motors’ Cruise autonomous vehicle unit, will take the reins as its CEO effective April 1. He’ll succeed Stephen Scherr, who the company said has decided to step […] [Read More]

TransUnion is looking to make its tools sharper and easier for clients to use through its new platform for managing, governing, analyzing and delivering data and insights. The company said the OneTru platform connects separate data and analytic assets built for credit risk, marketing and fraud prevention and concentrates them in a single, layered and […] [Read More]

Perhaps artificial intelligence isn’t quite yet the silver bullet to solve all challenges within auto financing and retailing. The latest snapshot survey of auto dealers and finance companies orchestrated by eLEND Solutions found that 90% believe that AI-based pricing is contributing to inaccurate online payment quotes. The majority also said that’s having an adverse impact […] [Read More]

In late January, Black Book introduced Battery Adjusted Values, which it says are the industry’s first electric vehicle valuations. The valuations incorporate battery condition adjustments based on data from Recurrent, a provider of EV analytics. At NADA Show 2024 last month, Cherokee Media Group’s Joe Overby connected with Marko Iljadica of Recurrent as well as […] [Read More]

Used-car supply is rising at the lower end of the pricing scale – but those cars are getting older. Cars Commerce’s Industry Insights Report for February found the overall supply of used cars was up 2.4% year-over-year, but for vehicles priced less than $30,000, it shot up 7.5% from the same month in 2023. That […] [Read More]