After nearly two decades, Credit Union Loan Source decided it was time for a change. The auto finance company that originates and services installment contracts with more than 1,500 franchised and independent dealers in its 25-state footprint announced on Wednesday that it has rebranded. The company now operates as Cinch Auto Finance, as leadership explained […] [Read More]

One of last year’s Emerging 8 honorees is set to operate with a new name. On Tuesday, DealerPolicy announced a rebranding and insurance agency name change to Polly in an effort to better engage consumer audiences. The insurance marketplace for automotive retail said the name change will take effect on March 2. Polly’s existing suite of technology […] [Read More]

The American Recovery Association (ARA) is looking to honor some of the industry’s best during the annual North American Repossessors Summit (NARS), which will be conducted in a new location with a new theme. Along with seeking speaker submissions and award nominations, ARA highlighted the theme for NARS 2022 on June 21-22 in Denver is […] [Read More]

Cox Automotive shared a pair of developments this week connected with Dealertrack. Along with an enhanced integration with 700 Credit, Cox Automotive said Dealertrack reached a new milestone with the addition of its 100th finance company using Dealertrack Accelerated Title. One of the finance companies using the Dealertrack tool is Westlake Financial Holdings, where Mark […] [Read More]

LAUNCHER. SOLUTIONS has teamed up with VINData to provide its finance company customers with a deeper view into vehicle history, title data, vehicle values and more, all to help them manage risk and decisioning. Through Launcher’s appTRAKER Loan Origination System, customers will be able to access VINData Title and History Reports, which include real-time information […] [Read More]

It’s a bit of a Catch-22 for franchised dealership service departments these days. The number of repair orders continues to slow, but the amount of revenue a franchise dealer generates on each repair continues to break records. That’s according to a report Tuesday from Cox Automotive that examines service department data from its Xtime subsidiary. [Read More]

CarGurus has brought its Instant Max Cash Offer to the West Coast, announcing Tuesday that the all-digital car-selling solution is now available in California. Instant Max Cash Offer, which is powered by CarGurus subsidiary CarOffer, allows dealers to bid on and acquire used cars online from consumers. The platform blends CarGurus’ consumer-facing marketplace with CarOffer’s […] [Read More]

It’s shaping up to be an unusual spring. Spring training isn’t the usual buzz because of the labor clash involving Major League Baseball. And Black Book is seeing wholesale values soften, even as IRS data shows a double-digit rise in federal income tax filings that often can fuel what happens in the lanes. [Read More]

According to the U.S. Census Bureau, three of the four most populated states are California, Texas and New York. Coincidently, highlights from Urban Science’s 2021 Automotive Franchise Activity Report (FAR) showed those three states generated the most significant state-level changes, too. Overall, Urban Science indicated last year produced continued stability and slight growth for the […] [Read More]

The first car that Carvana ever sold was in Georgia, and now the online retailer has opened a new campus in the state’s capital. Carvana’s new Atlanta facility, which officially launched Tuesday, currently employs 1,500 team members in the state. The company plans to add 3,500 more jobs in the area in coming years. Atlanta […] [Read More]