A lot can change in nine months. Just ask parents. Similarly, a new survey from Credit Union Leasing of America (CULA) showed that credit unions are generally more optimistic about their auto finance portfolios than they were nine months ago. In fact, the majority have seen an increase in auto financing compared to last year. […] [Read More]

While one company in the subprime space recently halted originations, another operation is in growth mode. Late last week, Glenview Auto Loan Fund announced the nationwide expansion of its Credit Builder Program and will hire 20 new sales representatives. Glenview’s senior leadership said it has followed a deliberate growth strategy since launching the Credit Builder […] [Read More]

FinBe USA on Tuesday announced its adoption of Point Predictive’s AutoPass FCRA solution. According to a news release, the implementation enables FinBe USA to leverage Point Predictive’s proprietary data repository and artificial intelligence to accelerate growth, automate fraud detection, reduce early payment defaults, and optimize loan stipulation requirements. Since 2007, FinBe USA has worked with […] [Read More]

Turns out car shoppers can get satisfaction. Cox Automotive’s latest report, The 4 Key Drivers of Car Shopping Satisfaction, showed positivity about the car-buying experience has grown over the past decade. The survey of 740 new-vehicle buyers and 350 used-vehicle buyers who purchased from a franchise dealership during the previous 12 months, conducted in January, […] [Read More]

For the 12th year, Chicagoland’s new-car dealers saluted the military with a month-long event that raised more than $70,000 for programs to support local service members and their families. The Chicago Automobile Trade Association’s 12th annual Drive for the Troops in partnership with the USO included more than 80 area dealerships hosting community-focused fundraising events […] [Read More]

Sonic Automotive selected NETSOL Technologies to lead what the provider of artificial intelligence-powered solutions and services to sell, finance and lease assets called “a discovery engagement” for the dealer group. According to a news release distributed on Tuesday, the project is focused on defining the “requirements and roadmap” for a next generation omnichannel digital retail […] [Read More]

The latest addition to Carvana’s growing collection of integrated auction-recon center sites is coming to ADESA Dallas. The online used-car retailer announced it is bringing an inspection and reconditioning center to the existing wholesale auction in Hutchins, Texas, a 100-acre site with more than 15,000 parking spaces to support both Carvana’s IRC and ADESA’s ongoing […] [Read More]

Paul Antony’s tone was somber as he addressed analysts and media in AutoCanada’s second quarter 2024 earnings call, telling them the company’s “recent performance has not met our own expectations” in the wake of sinking revenue and a reported $33.1 million net loss for the quarter. A little more than a year later, he was […] [Read More]

A payment calculator seems like it is technology offered and used by everyone today. Plug in a few numbers, and out pops a monthly payment. Simple, right? Unfortunately, this illusion of simplicity is costing auto lenders and dealers significantly. What many don’t realize is that the vast majority of payment calculators on the market are […] [Read More]

Here’s an integration that offers a quartet of benefits for both buy-here, pay-here dealerships and their customers, according to the participating companies. On Tuesday, ABCOA Deal Pack, a leading dealer management software (DMS) for BHPH dealerships, announced a new integration with GWC Warranty, a provider of vehicle protection solutions for more than 30 years. The […] [Read More]