Auto defaults closed 2022 with the first double-digit rise in the default rate in more than five years. On Tuesday, S&P Dow Jones Indices and Experian released data through December for the S&P/Experian Consumer Credit Default Indices. The auto rate came in at 0.87%, representing the first of increase 10 basis points since … [Read More]

CarOffer said Monday it has upgraded its inspection procedures to facilitate a wholesale buying and selling experience that is designed be “transparent, consistent and reliable.” CarOffer is offering pre-purchase inspections from certified technicians via strategic partners that would offer a detailed vehicle condition evaluation. Those evaluations include OBD-II scans, mechanical and electrical inspections, analysis of […] [Read More]

For a typical internal combustion engine vehicle, the deterioration of its components can be thought of as “lots of paper cuts” that occur over the car’s lifetime, says Recurrent CEO Scott Case. But for an electric vehicle, its component degradation is typically, “noting, nothing, nothing and then ‘WHAM!’ whenever the battery fails,” Case said. “If […] [Read More]

Last week, Dominion DMS announced an integration with Affinitiv XRM in a move to help dealers simplify their sales process while building customer loyalty. The company reiterated XRM is a fully integrated CRM tool built by dealers for dealers that is now accessible from within VUE DMS. From Direct Desk inside of VUE DMS, the […] [Read More]

Michigan-based Zeigler Auto Group previously announced it was sponsoring a race car for the upcoming NASCAR season. Last week, North Carolina-based LeithCars.com said it’s putting its name on a race track again by continuing its commitment as the official automotive dealership partner of VIRginia International Raceway (VIR). The continuing partnership comes with opportunities for both […] [Read More]

Securrency, a developer of institutional-grade, blockchain-based financial and regulatory technology, recently announced Nadine Chakar joind the company and assumed the role of chief executive officer. The company highlighted Chakar’s leadership will combine her deep financial services, technology and market experience with Securrency’s technology to deploy market-leading solutions on a global scale. She has been recognized […] [Read More]

Ahead of Martin Luther King Day, Mendoza Ventures said it has closed its third fund. The female- and Latinx-founded fintech, artificial intelligence and cybersecurity venture capital firm landed a $100 million fund that Mendoza Ventures said it will invest in early growth stage startups with a focus on diverse teams. The initial close was led […] [Read More]

Westlake Portfolio Management grew its servicing department by reaching agreements with two companies that specialize in the subprime auto space. Last week, Westlake announced it formed a servicing partnership with Nicholas Financial, an auto and consumer finance company based in Clearwater, Fla. As previously mentioned in a report from SubPrime Auto Finance News, Westlake also […] [Read More]

PassTime reinforced its executive team last week. The provider of advanced asset tracking solutions announced it has hired Mike Roberts a new executive vice president of sales. PassTime highlighted Roberts joined the team from Kenwood USA and is an executive sales leader with a 30-year track record of successful business development, marketing, and sales management […] [Read More]

In this special episode of the Auto Remarketing Podcast, we feature a discussion at Used Car Week between Copart's Yoker Vidal and Dennis Weber about "The Future of Auction Remarketing." Stay tuned for more podcasts from UCW panel discussions as they become available. To listen to the conversation, click on the link available below. Download and […] [Read More]