Auto Financial Group (AFG) recently announced that CU*Answers, a credit union service organization (CUSO) and a cooperative corporation headquartered and incorporated in Grand Rapids, Mich., has signed a referral agreement and continues to advance the development of a future integration with AFG. Company officials explained CU*Answers’ integration with Auto Financial Group will allow balloon loan […] [Read More]

According to the J.D. Power 2022 U.S. Consumer Financing Satisfaction Study, customer retention has become a key focal point for auto finance providers, putting the spotlight on specific actions credit providers can take to drive increased loyalty and brand advocacy. That focal point surfaced against a backdrop of rising interest rates, slowing origination volumes and […] [Read More]

DDI Technology expanded its corporate offices in September to handle more work. Then this month, the electronic lien and title technology firm and a subsidiary of IAA announced the expansion of its electronic salvage processing products and services into Massachusetts. This expansion marks the seventh state to offer DDI Technology’s Premier EVR services. As the […] [Read More]

Many deals and relationships are forged on the golf course, and AutoPayPlus likely is looking to have the same thing happen via its latest marketing endeavoer. The provider of automated biweekly and early payoff services for automotive, RV, boat, home and student loans recently entered into an endorsement relationship with professional golfer D.A. Points. According […] [Read More]

Sourcing used inventory was the common focus of two panels during Used Car Week, and some key themes emerged from “The New Consumer Journey Horizon and “Smarter Used Vehicle Buying” discussions during the event this month in San Diego. Acquiring used vehicles directly from consumers is becoming an increasingly important channel for dealerships and it […] [Read More]

CarGurus chief executive officer Jason Trevisan said the company’s third-quarter financial metrics “fell short of the low end of our guidance range” as the company did not adapt its wholesale operations to what Trevisan described as “rapidly evolving macro market challenges.” He said the shortfall was driven exclusively by the company’s digital wholesale business. However, […] [Read More]

Washington, D.C.-based Easterns Automotive Group uses Cars.com’s Accu-Trade appraisal technology, and Easterns’ president Joel Bassam said that appraising a vehicle now takes as little as 15 minutes compared to an hour previously. During the Cars.com (CARS) third quarter 2022 earnings call on Nov. 3, CARS CEO Alex Vetter mentioned Bassam and Easterns, quoting Bassam as […] [Read More]

This dealership news roundup includes both more M&A activities as well as philanthropic endeavors. Beginning with the charity work, Larry H. Miller Dealerships announced last week an expansion of its existing holiday coat drive to include all 12 Arizona dealerships across Metro Phoenix and Tucson through a partnership with Valley of the Sun United Way […] [Read More]

Your nearby grocery store or big-box retailer might be bustling for the next several weeks as people get holiday gifts and meal ingredients. The scene at your favorite auto auction might be much less active, based on the projections Black Book shared on Tuesday through its latest installment of Market Insights. The foundation for that […] [Read More]

Last week, both Kroll Bond Rating Agency (KBRA) and S&P Global Ratings shared intriguing findings based on analysis of September and October data generated by the automotive securitization market, noting trends about originations, extensions, collections and delinquencies. SubPrime Auto Finance News obtained additional information from S&P Global Ratings, which said in a news release, “U.S. […] [Read More]