Another executive who spent time at EFG Companies now is a part of the leadership team at AutoPayPlus by US Equity Advantage. The provider of biweekly payment processing announced through a news release on Monday that Hollis Goode has joined the company as national sales director. With 20 years of experience in automotive finance and […] [Read More]

On Monday, StoneEagle announced the promotion of one of its executives to be its new chief operating officer. Selected for this role for the provider of automotive menu, F&I and service metrics is Damar Christopher, who will work cross-functionally to increase alignment, momentum and stakeholder communication, so that the business consistently delivers on the objectives […] [Read More]

Much like the Eric Church song, the used-vehicle market was “having a record year” in 2021. That includes the Manheim Used Vehicle Value Index, which reached an all-time high of 236.2 in December and beat the prior-year reading by 46.6%. Wholesale prices, when adjusted for mix, mileage and seasonality, climbed …  [Read More]

The numbers are not yet final, but it appears 2021 will not end up as a record year for certified pre-owned vehicle sales. However, there will likely be a best-ever 3.0 million certified vehicles sold in 2022, in what is expected to be the finale of peak CPO. That’s according to Cox Automotive analysts who […] [Read More]

Risk Point, a full-service program manager and provider of insurance underwriting and claims expertise to the dealership sector, recently named two new vice presidents for underwriting as well as sales and marketing. Taking on the role as VP of sales and marketing is Pepper Snider, who will be will be responsible for driving profitable growth […] [Read More]

The beginning of a new year often is filled with promotions for exercise; perhaps even using a personal fitness trainer at a gym. Well, Rapid Recon is taking a similar approach with its newest service to help dealerships get in better shape with regard to its inventory standing tall on the front line faster. The […] [Read More]

An acquisition announcement in the fleet space literally on a global scale came to light on Thursday. ALD Automotive said it signed of a memorandum of understanding to acquire 100% of LeasePlan from a consortium led by TDR Capital. According to a news release, the proposed acquisition of LeasePlan is for a total consideration of […] [Read More]

In a move that became effective on the first day of 2022, Hudson Cook promoted two of its attorneys to equity partners of the firm that serves dealerships and finance companies. According to a news release, the firm’s two newest partners are Webb McArthur and Latif Zaman. McArthur, a resident in the firm’s Washington, D.C. […] [Read More]

Compliance expert Randy Henrick, who also is a part of the team at Ignite Consulting Partners, shared a costly example of how not following federal statutes when making personnel decisions can inflict some significant financial pain on independent and buy-here, pay-here dealers. Henrick recently recapped that an Ohio dealer has agreed to pay $390,000 to […] [Read More]

Coinciding with Wisconsin-based First Business Bank making headway in the South with its floorplanning, digital auto auction marketplace EBlock announced a key partnership with Kinetic Advantage, a provider of floorplan technology. With soft wholesale volume and high prices in the lanes, EBlock and Kinetic Advantage said this week through a news release that their partnership will […] [Read More]