Experian determined that 40.45% of used vehicles retailed during the third quarter of last year included financing. To make sure that potential buyers who might fall into that category have plenty of options, CarMax on Tuesday nationally launched pre-qualification capability for shoppers on its website and app. The retailer highlighted this new online financing experience […] [Read More]

Perhaps reflecting what Polly discovered about car insurance availability at dealerships, EchoPark made a move in that space on Tuesday. The Sonic Automotive division focused on retailing used vehicles announced a long-term partnership with Matic, a leading digital insurtech platform, to provide property and casualty insurance products to EchoPark guests. Under the partnership, Matic’s innovative insurance […] [Read More]

Cox Automotive acknowledged that by nearly every measure, 2022 was a difficult year for independent dealers, who were challenged by historically low vehicle inventories, high prices and the ongoing risk of an economic recession. With predicting the year ahead will be one of transition, as both consumers and the industry move past the remains of […] [Read More]

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]