Financing for electric vehicles continues to gain more momentum. A few days after Bank of America finalized a relationship with Lucid Group, Arcimoto announced on Wednesday that manufacturer has entered into an agreement with FreedomRoad Financial, a loan production office of Evergreen Bank Group, to provide consumers with vehicle financing for Arcimoto’s family of EVs. […] [Read More]

It appears May was a tipping point in the auto financing space. After loosening for 11 months in a row, access to auto credit tightened in May, according to the Dealertrack Credit Availability Index for all types of auto financing. Cox Automotive shared in a Data Point that the index declined … [Read More]

Though there was a bit of improvement from April, used-vehicle sales in May were down double-digit percentages on a year-over-year basis, says Cox Automotive, noting that spikes in interest rates, fuel costs and vehicle prices have dampened the market. The average APR on a used vehicle rose to 9.23% in May, up from 9.16% in April, according […] [Read More]

Here’s more industry consolidation; this time in the fleet space. A news release from Athene Holding distributed on Monday announced the signing of a stock purchase agreement by LeasePlan Corp. with Wheels Donlen’s parent company to acquire LeasePlan USA. The result will be the combination of LeasePlan USA with Wheels Donlen to create a unified […] [Read More]

With the average price for a gallon of gas now above $5, Black Book’s newest installment of Market Insights highlighted how wholesale prices for vehicles such as compact cars and full-size SUVs are moving in distinctly different directions. “Fuel prices appear to still be having a … [Read More]

Auto Remarketing Canada  is recognizing the 2022 Women & Automotive: Profiles honorees in the current issue of the magazine and at Canada's Used Car Week this month at the Westin Harbour Castle in Toronto. In the weeks leading up to the June 27-29 event, ARC will be posting Q&As with each of the Women & Automotive honorees on this website. Next up is Sophie […] [Read More]

Auto Remarketing Canada  is recognizing the 2022 Women & Automotive: Profiles honorees in the current issue of the magazine and at Canada's Used Car Week this month at the Westin Harbour Castle in Toronto. In the weeks leading up to the June 27-29 event, ARC will be posting Q&As with each of the Women & Automotive honorees on this website. Next up is Karen […] [Read More]

In February, Polly went through a rebranding process as its dealer client roster using its insurance marketplace for automotive retail surpassed 1,200. On Tuesday, Polly announced it has closed on an acquisition of automotive marketing and analytics company, Driven Data Technology. Under the terms of the asset purchase agreement mentioned in a news release, existing […] [Read More]

National Lenders General Agency is getting involved with the independent and buy-here, pay-here dealership segments in more ways that just offering its risk management services to clients. The company announced on Tuesday that it has joined four independent dealer associations, including the organizations in Texas, Georgia, the Carolinas, Indiana, and the local chapter of TIADA […] [Read More]

When discussing CECL — implementation of the Current Expected Credit Loss (CECL) accounting standards — Agora Data senior vice president of strategic relationships Jim Bass said bluntly during this month’s Non-Prime Auto Financing Conference: “It’s about to get real.” Bass, who also is chairman of the National Automotive Finance Association and host of that annual […] [Read More]