Solera Holdings and DigniFi want to ensure customers within a dealership’s service drive have the necessary financial resources to cover vehicle repairs. On Tuesday, the vehicle lifecycle management company announced a strategic partnership with the fintech platform, as Solera will offer access to DigniFi financing options, funded by WebBank, to consumers seeking payment solutions for […] [Read More]

The notable jump in bankruptcies experts have been predicting for some time arrived in August. According to new research released from Epiq’s Bankruptcy Analytics platform, filings in August across all chapters rose 10% year-over-year, totaling … [Read More]

Auto repossessions are on the rise. Subprime repos are up 11% since 2020, according to Jalopnik. Even among prime borrowers with excellent credit scores, repossession rates have doubled from 2% to 4% in the past two years, according to Barron’s. This trend is not surprising, considering how expensive vehicles have become. The average price for […] [Read More]

Today’s younger car shoppers millennials and Gen Z) don’t start their search on the showroom floor with a dealer salesperson. In fact, it’s estimated that 90% of today’s auto-buying consumers begin their journey on smartphones, tablets and computers, according to research from 9Clouds. Most dealers align their media strategy to where shoppers consume media. This […] [Read More]

Just before Labor Day weekend, Bridgecrest, one of the country’s leading digital financial services providers, announced the launch of its newest affiliate, GoFi, an artificial intelligence-enabled, digital-first financing platform. Leveraging Bridgecrest’s robust auto financing experience, GoFi is focused on offering its innovative white-label and co-branded auto finance solutions to banks, finance companies and other partners, […] [Read More]

According to research conducted by ValuePenguin, the states where people look to buy the oldest used vehicles are evenly split among the Midwest and West. The insurance division of LendingTree pinpointed the Top 10 states and markets where consumers are seeking to take delivery of older models. Overall, researchers found that the average age of […] [Read More]

Autosled announced this week that Ric Fleisher, co-founder of Urgently and Merlin Mobility, recently joined the board of advisors of the automotive digital logistics marketplace for retail automotive dealers and transport providers. Earlier in the year, Autosled closed a $5 million Series A round led by Lyndon Rive and established its board of directors with […] [Read More]

The auto dealer buy-sell space continues to flourish, but in recent months, it has been the private dealer groups doing the buying, as activity among the publics has slowed. Overall, according to the Q2 2022 Haig Report from Haig Partners LLC, there was a 3% year-over-year spike in … [Read More]

With another month closing on Wednesday, Ignite Consulting Partners mentioned firm compliance experts often are peppered with questions at this junction on the calendar about independent dealers creating their own retail installment sales contracts rather than relying on the documents within their dealer management system (DMS). Through its Tip of the Week, Ignite emphatically replied […] [Read More]

Tricolor has invested heavily in artificial intelligence and other technology resources to boost its underwriting. On Thursday, tech-enabled Community Development Financial Institution (CDFI) and one of the nation’s largest used-vehicle retailers that caters to Hispanic consumers, also enhanced its resources connected to the vehicles themselves. Tricolor announced the opening of its new state-of-the-art reconditioning center […] [Read More]