Earlier this summer, eOSCAR — the web-based system that can enable data furnishers (DFs) and credit reporting agencies (CRAs) to respond to consumer credit history disputes — made major technology upgrades, which created several operational changes. To help buy-here, pay-here dealerships, finance companies and other users, two of the compliance experts from Ignite Consulting Partners, […] [Read More]

Experian’s newest State of the Automotive Finance Market Report showed average contract terms continued to decrease. Amid rising interest rates, Experian reported on Thursday consumers are continuing to opt for shorter terms based on findings from the second quarter. However, analysts pointed out that much of the growth in shorter-term contracts is for new vehicles. […] [Read More]

ACV has added chat to its communications options. The digital auto auction/marketplace and data services provider ACV launched a “chat experience” through its My ACV portal, expanding the on-demand support available to its customers. While the chat feature is geared toward simple transaction-related questions, ACV said in a news release, it can be used for […] [Read More]

Castle Automotive Group increased its presence in the Chicago area with the acquisition of Pugi Auto Group from Dominic Pugliani. The addition of Pugi’s Hyundai, Genesis, Mazda and Volkswagen dealerships in Downers Grove, Ill., gives Castle 26 new car franchises and 18 locations in Illinois and Northwestern Indiana, as well as its first franchises with […] [Read More]

This week, electric utility Duke Energy unveiled an unveiled an EV charging subscription pilot program that will allow North Carolina consumers to pay a flat monthly fee to power home chargers for electric vehicles. The next day, automaker Stellantis announced its latest partnership to provide EV charging infrastructure to help prepare its dealers for selling and servicing EVs. Bob Glaser, president of the North Carolina Automobile Dealers Association, said he is 100% on board with both of those moves. “We are very excited about the thought of ... [Read More]

A central part of Carvana’s business model will soon be officially legal in Illinois. This week, Gov. J.B. Pritzker signed legislation that clarifies the state’s law governing auto sales by specifically allowing electronic signatures during the sale and home delivery of vehicles to buyers. The bill, backed by a Carvana-led coalition and introduced by State […] [Read More]

Live virtual auction platform EBlock recently chose a former Hyundai Capital Canada executive as its new director of commercial sales: Bryan McIntyre, the prior senior manager of remarketing and ops support at Hyundai Canada’s captive arm. McIntyre was with Hyundai Capital since 2017. He has 15 years of auto industry experience and has held management jobs within auto finance organizations that include subprime lending, major bank and captive finance lenders. McIntyre spoke with Auto Remarketing Canada shortly after he took the new role at EBlock ... [Read More]

At least three economists anticipate the Federal Reserve pushing interest rates higher after chairman Jerome Powell made one of his most anticipated speeches of the year last week. The Fed’s annual gathering in Jackson Hole, Wyo., was the backdrop on Friday when Powell delivered his remarks, generating reaction from Cox Automotive chief economist Jonathan Smoke […] [Read More]

PaymentVision doesn’t want businesses of all stripes to forget that sometimes consumers still want to pay their bills with cash. The payment processing solutions provider launched a campaign urging billers across industries to embrace the importance of consumer choice by incorporating pay by cash walk-in payment options into their regular billing methods. PaymentVision said businesses […] [Read More]

If you already suspect many of the contract holders in your auto finance portfolio prefer to be contacted via text messaging, this research might reinforce your thinking. A recent study conducted by TextUs and Benenson Strategy Group surveyed smartphone users nationwide on their usage of text messaging in an effort to provide an insightful look […] [Read More]