CDK Global has signed a deal to be acquired by Brookfield Business Partners and institutional partners for a total enterprise value of $8.3 billion, with CDK shareholders receiving $54.87 per share once the transaction closes. That share price is 30% higher than the unaffected closing price on Feb. 18, which was the last full day […] [Read More]

After going six months without a sequential decline, Black Book’s Used Vehicle Retention Index has now fallen two months in a row. [Read More]

Along with his usual review of wholesale price data compiled within KAR Global, chief economist Tom Kontos also used his regular industry update to offer a forward-looking price assessment, leveraging figures from the U.S. Bureau of Labor Statistics. For his newest Kontos Kommentary, Kontos examined the historical relationship between the used- and new-vehicle consumer price […] [Read More]

Carvana said Wednesday it has expanded its presence in Maine, adding the Bangor area to its market count. The online retailer now operates in 314 markets. “We are proud to offer The New Way to Buy a Car to more than 300 cities across the country now and we’re confident Bangor area residents will embrace all […] [Read More]

As the global economy shifts and consumer credit markets evolve, TransUnion acknowledged that credit decisioning requirements have become even more complex and customized. To address the rapidly evolving needs and priorities of financial institutions, TransUnion announced on Wednesday an expansion of its go-to-market strategy for decisioning solutions by including leading decisioning platforms within its global […] [Read More]

Less than a month after landing a partnership with banking technology solutions provider Nymbus, Lightico announced on Wednesday it’s now collaborating with Wolters Kluwer Compliance Solutions, too. Lightico said it plans to leverage the capabilities of Wolters Kluwer’s eOriginal product suite of digital financing tools, including its eVaulting technology, to enhance Lightico customer transactions. Executives […] [Read More]

In August and September, iLendingDIRECT gained a new chief executive officer, raised $35 million to fuel its refinancing efforts and bolstered its workforce and infrastructure in South Carolina. On Monday, the company launched a brand refresh and new logo designed to highlight its mission of “paying goodness forward by empowering consumers.” The company now is […] [Read More]

Soon after J.D. Power released its 2022 U.S. End of Lease Satisfaction Study, we connected with Patrick Roosenberg, who is the company’s director and practice lead of automotive finance intelligence. Along with discussing the study, Roosenberg also touched on some components of vehicle leasing that might be changing permanently because of the current state of […] [Read More]

An individual’s assessment about your finance company’s service now is getting greater attention from the Consumer Financial Protection Bureau, too. The bureau recently issued policy guidance regarding potentially illegal practices related to consumer reviews. The CFPB said that it seeks to ensure that customers can write reviews — particularly ones posted online — about financial products […] [Read More]

National Auto Care (NAC) not only is growing its geographical footprint via acquisitions, the provider of F&I products, administration, consulting services, training and marketing support to independent agents, insurance companies, financial institutions, third-party administrators and credit unions for more than 35 years is broadening its market reach, too. On Tuesday, NAC announced it has acquired […] [Read More]