Continuing an active end of the year within the commercial financing area, First Business Bank’s floorplan financing team this week announced the promotion of Spencer Brink to portfolio manager of floorplan financing. Brink joined First Business Bank in 2016 as a credit analyst intern, moving into a full-time credit analyst role after graduation from the […] [Read More]

Good news for the Canadian used-vehicle market: Prices are considerably steadier, according to Canadian Black Book, which released its Used Vehicle Retention Index for November on Friday. Specifically, the index came in at 158.7 for the month, relatively steady with October’s 158.8 reading. Following a 44% increase in January, the year-over-year increases in CBB’s index […] [Read More]

Last month marked the first year-over-year rise in certified pre-owned sales since September 2021, according to a Cox Automotive Data Point report Tuesday and month-by-month data the company previously sent Auto Remarketing. Beyond snapping a 14-month streak of year-over-year declines, the CPO market also has this positive sign as year-end draws near: annual sales are […] [Read More]

Swickard Auto Group in Gladstone, Ore., has purchased five dealerships representing seven franchises from Anderson Autos in Thousand Oaks, Calif., according to a news release from The Presidio Group, which advised Anderson in the deal. Included in the deal are Acura, Honda, Jaguar, Land Rover, Lexus, Mercedes-Benz and Commercial Van dealerships. Swickard plans to purchase […] [Read More]

Electric vehicle subscription company Autonomy has added a fourth state to its footprint: Texas. Its services are now available in the Austin area and Travis County. This follows Autonomy’s launch in California, followed by expansion to Florida and Washington. Autonomy said in a news release that Texas trails only California and Florida for EV registrations. […] [Read More]

This week, Kinetic Advantage announced more than a half dozen enhancements to its proprietary dealer management portal, Kinetic 360. The independent floorplan provider highlighted the new Kinetic 360 showcases a sleek and responsive design with functionality that can allow users to navigate the portal and manage their account easily. After conducting an extensive study, utilizing […] [Read More]

IAA is rounding out an active year of expansions with the opening of new branches in Minnesota and Maryland. The company said on Wednesday that IAA Minneapolis South is the second branch in Minnesota and provides significant inventory storage and updated facilities to serve the growing needs of the Twin Cities area. And IAA Elkton, […] [Read More]

On Wednesday, Constant announced its Zero Processing Skip-a-Pay and related loan servicing solutions are now accessible through the Jack Henry digital banking platform. In an effort to expand digital services, Constant said many financial institutions have added online applications that are fulfilled in the back office. When consumers can’t solve their issues via self-service, they […] [Read More]

Two service providers now are working together to help consumers land a revamped installment contract and perhaps new vehicle insurance, too. Polly, a leading embedded insurance marketplace for automotive retail, and Gravity Lending, a rapidly growing fintech providing low-cost interest refinancing options, announced a strategic partnership on Wednesday that can give car owners the opportunity […] [Read More]

Auto finance appears to be in a much better state than credit cards and personal loans based on TransUnion’s 2023 Consumer Credit Forecast released on Wednesday. While experts are expecting delinquency rates for credit card and personal loans to rise to levels not seen since 2010, TransUnion is forecasting that serious auto finance delinquency rates […] [Read More]