Indianapolis-based buy-here, pay-here dealership Oak Motors shared some details Friday on its recent charitable work. The dealership donated a total of $94,000 to seven charities in the Indianapolis, Muncie and Anderson areas of Indiana during 2022. Those nonprofits included Wheeler Mission, Muncie Mission Ministries, DAV (Disabled American Veterans), Second Helpings, Gleaners Food Bank of Indiana, […] [Read More]

Point Predictive chief fraud strategist Frank McKenna returned for his regular visit on the Auto Remarketing Podcast. This time, McKenna took a deep dive into the results from Point Predictive’s annual auto finance survey, sharing how companies are contending with fraud and more. The podcast can be found in the window below. [Read More]

J.D. Power said finance companies need to focus on bringing their lease customers back to the brand in light of the current market. J.D. Power said lease options for customers are limited as auto leasing volume continues to fall. In fact, analysts indicated leasing now accounts for just 17% of total new-vehicle sales. According to […] [Read More]

One of the best athletes ever to step in the boxing ring will be on stage this summer during the National Independent Automobile Dealers Association’s annual gathering. Sugar Ray Leonard will share his drive for success as the keynote speaker for NIADA’s Accelerate 2023 Convention and Expo. Leonard will speak at 4:30 p.m. (PT) on […] [Read More]

Here’s an example of two large organizations recognizing a possible issue within financial services and taking action. On Thursday, the NAACP and TransUnion announced the launch of Connecting to Our Financial Future, a credit education website designed to promote financial inclusion among traditionally underserved and underrepresented communities. The organizations said the announcement comes at a […] [Read More]

KAR Global executive chairman Jim Hallett is retiring, the company said Friday. Hallett, also a philanthropist, hockey team owner and award-winning industry executive, has been with the company in various eras, iterations and roles for more than 25 years. He steps down from his positions as executive chairman and chairman of the board of directors […] [Read More]

It appears that used-vehicle sales for 2023 will be stronger than projected a few months ago, resulting in a market that’s flat compared to 2022, rather than softer. Still, inventory and affordability remain ever-present challenges that dealers must navigate in pre-owned. Or as Cox Automotive senior manager of economic and industry insights Chris Frey put it in a call with the industry and media on Monday, “In the spirit of spring, the used market looks like ... [Read More]

Kyte, which provides consumers cars on demand for short- or long-term use, is adding its 15th U.S. market on Friday: Atlanta. The San Francisco-based company landed a $60 million Series B funding round in November and began expanding its subscription service nationally. Its aim is to provide “flexible solutions for any trips longer than a […] [Read More]

Two experts who specialize in working with independent and buy-here, pay-here dealerships discussed a crucial resource that can help operators tremendously — online reviews. In this episode of the Auto Remarketing Podcast, Kenny Atcheson of Dealer Profit Pros and Steve Levine of Ignite Consulting Partners explained how dealers can gather and respond to reviews to […] [Read More]

Two looks at consumer confidence released this week offered mixed views on individuals’ current views of their finances and whether they might purchase a vehicle during the next six months. Beginning first with the 2023 Consumer Spending Survey by Provident Bank, a New Jersey-based financial institution, findings from Provident’s recent survey revealed that 73% of […] [Read More]