S&P Global Mobility highlighted this week that the average age of vehicles currently in operation currently stands at a record 12.5 years. Meanwhile, eBay Motors sees older vehicles as having plenty of life remaining, so on Wednesday site officials announced what they think is a first-of-its-kind program that can help drivers keep their vehicle on […] [Read More]

CARFAX said on Wednesday that its data shows more than 2.5 million vehicles that have been tagged with “Do Not Drive” or “Park Outside” safety recalls remain unrepaired as of May 1. In fact, CARFAX pointed out 10 states have more than 70,000 of these vehicles driving on their roads, with California leading the way. […] [Read More]

In a preview of what’s in store for Canada’s Used Car Week, which is set for the Delta Hotels Toronto Airport & Conference Centre on June 12-14, Stephanie Lamb appeared on the Auto Remarketing Podcast. The director of automotive lending at CIBC shared what’s caught her attention so far this year and more in a […] [Read More]

Being able to react to change is a good skill to have, but it’s not a plan and it’s not sustainable. Mike Tyson was once quoted saying, “Everyone has a plan until they get punched in the face.” I think it’s fair to say we all got punched in the face with the COVID-19 pandemic. […] [Read More]

Electric vehicles are steadily gaining share in both the used- and new-vehicle markets. But not every consumer maintains their monthly payments on those EVs. To help repossession agents handle the unique situations EVs present, the American Recovery Association is hosting a free webinar, focusing on three important questions. They include: —Can an electric vehicle catch […] [Read More]

Two Pennsylvania credit unions are merging. First Commonwealth Federal Credit Union in Allentown and Bellco Federal Credit Union in Wyomissing said on Wednesday that they have jointly agreed to merge, pending approval from the National Credit Union Administration (NCUA) and Bellco’s membership. According to a news release, the merger is expected to be completed during […] [Read More]

Along with detailing how much risk is on the roads nowadays, perhaps TransUnion poured a little cold water on the strategy employed by some dealerships when they can help vehicle buyers look for a better rate on their car insurance during the financing and delivery processes at the store. TransUnion’s latest quarterly Insurance Personal Lines […] [Read More]

Two technology providers specializing in originations and underwriting announced this week they’re now working together. Launcher finalized an integration partnership with TurboPass, enhancing multi-verification capabilities and simplifying the funding process for mutual finance company clients utilizing Launcher’s appTRAKER Loan Origination System. With this integration, Launcher and TurboPass can streamline the verification process, providing a seamless […] [Read More]

In October, the Federal Trade Commission announced an action against Passport Automotive Group for what the regulator called in a news release as “deceiving consumers by tacking hundreds to thousands of dollars in illegal junk fees onto car prices and for discriminating against Black and Latino consumers with higher financing costs and fees.” The FTC […] [Read More]

AutoNation will be taking on the heat of summer with a new executive vice president and chief financial officer. The dealer group announced on Tuesday that Thomas Szlosek will fill these positions effective the start of his employment with AutoNation, which is expected to be on or about Aug. 7. AutoNation said Szlosek will report […] [Read More]