Inovatec Systems now has some proof about its platform security. The provider of cloud-based software solutions for finance companies and other lenders announced on Tuesday that that its platform has obtained ISO 27001 certification of its information management system, ensuring that all data privacy and information security activities comply with strict ISO 27001 mandates. The […] [Read More]

Carputty, a fintech company out to modernize both auto financing and vehicle ownership, announced the closing of a $12.3 million Series A funding round. This raise, co-led by Fontinalis Partners and TTV Capital, brings Carputty’s total funding amount to $21.96 million. Additional investors include Porsche Ventures and Grand Ventures, as well as Kickstart Fund, who […] [Read More]

James Waldron recently recovered more than just a high-line Mercedes-Benz. The CEO of Texas-based 1st Adjusters helped to lead federal officials to quite a fraud scheme that included several other luxury vehicles. Advantage Automotive Analytics recapped the incident for SubPrime Auto Finance News after the risk mitigation company and GPS provider included Waldron in a […] [Read More]

Shifting consumer trends are changing the way car dealerships do business in the 21st century. As more consumers buy cars online, many dealerships are forced to compensate for thin profit margins, sometimes even by selling company land to make ends meet. These unique challenges underscore the growing need for industry-wide adaptation. The analog tools that […] [Read More]

Findings from the End of Year Car Shopping 2022 study from Cars.com indicate that buyers in the market for a vehicle are more likely to opt for new than used, but there was some good news for the pre-owned operations at dealerships. Namely, a good chunk of buyers plan to bring … [Read More]

Black Book didn’t spot any post-Thanksgiving surprises in the wholesale market. According to its newest installment of Market Insights, wholesale values decreased 0.72% last week; an amount just 10 basis points below the average decline Black Book recorded during the same week in [Read More]

Lithia & Driveway has acquired its first Ferrari dealership and spread its footprint into Colorado. The retailer said Tuesday it has purchased Ferrari of Denver, which is the only Ferrari store in the greater Rocky Mountains region. The dealership also sells vehicles from Bentley and other luxury brands. Lithia anticipates Ferrari of Denver will generate […] [Read More]

Kroll Bond Rating Agency (KBRA) released research on Monday assessing changes in the auto loan asset-backed security (ABS) sector, prompting experts to say the segment has demonstrated “both stability and volatility over the past decade.” The firm’s resulting report evaluated how auto ABS attributes such as loan-to-value (LTV) ratios, initial balances, terms, annual percentage rates […] [Read More]

After acquiring the assets from two different independent operators last year, America’s Car-Mart finalized a similar move this week, announcing that the chain of buy-here, pay-here dealerships entered into a definitive agreement to purchase the ongoing dealership assets of Credit-Line, Inc., and Loanco, Inc., both Texas corporations doing business as Taylor Auto Credit. As a […] [Read More]

Cox Automotive is shifting one of its auction general managers into an executive role with its floorplan provider. On Tuesday, NextGear Capital appointed former Manheim general manager Nicole Graham-Ponce as vice president of portfolio management, following the recent appointment of former Manheim regional sales manager Kyle Ballinger as associate vice president of NextGear Capital sales. In […] [Read More]