It’s a scenario buy-here, pay-here dealerships and subprime auto finance companies might face almost daily. The customer’s monthly payment is due, and it’s $500. But the individual encountered an issue and asked your representative if $250 could be accepted now and the other $250 as soon as possible. It’s happening so often now that the […] [Read More]

The pause in federal student loan payments triggered by the pandemic ends in October, so some consumers will have a monthly expense of several hundred dollars again. Tom Aliff, risk consulting leader with Equifax, explained why auto finance companies need to be mindful of this development during this episode of the Auto Remarketing Podcast. The […] [Read More]

Vehicle prices continued to fall at auction, dropping by 0.16% last week, according to the latest weekly report from Canadian Black Book. This continues price drops that began early this year. Cars saw prices fall by 0.06% at auction, while trucks and SUVs dropped by a quarter percent, CBB said. A few more segments did […] [Read More]

J.D. Power Canada recently released data that shows the auto service market is normalizing from COVID-19 impacts, and dealer share of the market is growing. Auto Remarketing Canada spoke with J.D. Ney, automotive practice lead at J.D Power Canada, to get more insight into the company’s Canada Customer Service Index—Long-Term (CSI-LT) Study results ... [Read More]

While car shoppers find buying a new car quite easy, they still find the process is taking too long, according to the latest research by CDK Global. The company’s latest Ease of Purchase Scorecard found that 83% of the consumers surveyed said it was easy to buy a car, but their satisfaction fell sharply — […] [Read More]

Online used-car retailer Carvana has adopted a Texas Department of Motor Vehicles tool designed to make the car-buying process more efficient. The electronic odometer and sales disclosure process is available through TxDMV’s webDEALER system. Carvana, the largest auto dealer to adopt the e-odometer process in Texas, said the e-odometer feature has helped it eliminate unnecessary […] [Read More]

Hertz is looking for a new leader. Paul Stone will step down as Hertz’s chief operations officer and president effective Sept. 30 to “pursue opportunities in the retail sector, where he began his career,” the rental car giant announced today. Stone will remain with the company through the end of October to assist with the […] [Read More]

Northeast Credit Union recently selected Credit Union Leasing of America (CULA) to bring its indirect vehicle leasing program to credit union members in New Hampshire and Maine. With this partnership, the Portsmouth, N.H.-based institution that has more than $2 billion in assets is expanding its auto finance portfolio to include the affordability and flexibility of […] [Read More]

Onbe, a corporate disbursements platform that is involved with test drive incentives, auto rebates and settlement payments, recently released the findings from its Summer 2023 Auto Survey. The survey polled 732 vehicles shoppers, aiming to better understand their preferences when receiving payments from their finance company, dealership or manufacturer. While purchase incentives are among the […] [Read More]

Accelerate2Compliance (A2C) reinforced its Federal Trade Commission compliance solutions for automotive dealerships to help protect from the risks associated with cyber security attacks, personal information leaks, and non-compliance penalties. A2C did this by launching a strategic partnership with Privacy4Cars and its patented vehicle privacy tools, including AutoCleared and Vehicle Privacy Report. The companies said these […] [Read More]