With Gen Z becoming a growing part of the segment, findings surfaced this week from the 25th edition of the New Reality Check: Paycheck-To-Paycheck research series orchestrated by LendingClub Corp. in partnership with PYMNTS. The research showed that 61% of U.S. consumers lived paycheck to paycheck in July, which was unchanged from June. But the […] [Read More]

Jim Maguire, Experian Automotive’s senior director of product marketing, made his first appearance on the Auto Remarketing Podcast to discuss some of the findings of Experian’s 2023 U.S. Identity + Fraud Report. Maguire mentioned not only what’s happening nowadays but also how critical it is for dealerships and finance companies to continue to collaborate against […] [Read More]

Carvana has ended August in a position to have a lot more breathing rooming financially. The online used-car retailer said Thursday it has completed its previously announced debt exchange with more than 96% of noteholders. This gives Carvana “significant financial flexibility as it continues to execute its profitability and growth plan” through cutting total debt […] [Read More]

Manheim has partnered with Fusion Auto Finance to host its private store, allowing the provider of turnkey leasing programs for credit unions to consolidate its multiple disparate platforms into a single experience in the Manheim Marketplace. The digital store offers Fusion Auto Finance’s dealership network access to fresh off-lease inventory in one place. The company […] [Read More]

In the scorching summer of 2023, maybe the only thing as hot as the weather was interest in pickup trucks. Trucks dominated Autotrader’s lists of the Hottest New and Used Cars of Summer 2023, taking eight of the top 10 spots on the new car list and seven of the top 10 among used vehicles. […] [Read More]

Price drops in the auto auction lanes continue what have been slow but consistent declines. The Canadian Black Book wholesale price index fell by 0.30%  last week. The small pickup segment was up 0.72% followed by the full-size car segment at 0.55%. Full-size cars are gaining in popularity, as demand for smaller, less expensive vehicles […] [Read More]

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]