As we put together this third installment of “The State of the Used Car Industry” in late June, it appears life — societal, economic, automotive and otherwise — is slowing getting back to normal (fingers crossed; knock on wood). And as the used-car industry emerges from the COVID-19 pandemic, we take an in-depth look at […] [Read More]

TradePending, which provides vehicle valuation and merchandising software to car dealerships, has named a chief financial officer and a director of product. Hired for the CFO post is Tom Parker, who previously held the same position at Agility Recovery. His experience also includes time at Dun & Bradstreet, Global Compliance, CT Corporation and Kroll. Meanwhile, […] [Read More]

Four days after announcing plans to build its first hub in Georgia, CarLotz said Monday it has opened three new hubs, including its first in California. The new hubs are in Bakersfield, Calif.; Clearwater, Fla.; and Highland Park, Ill. The addition of these three hubs in California, Florida and Illinois means CarLotz now has 15 […] [Read More]

McGlinchey Stafford recently added an experienced legal expert whose experience includes time with a luxury brand’s captive finance company. The firm recently welcomed Jason Bichsel to its national consumer financial services compliance practice group as a member (partner) associated with the firm’s Cleveland office. McGlinchey Stafford highlighted Bichsel has extensive in-house legal experience, having most […] [Read More]

Using what a trio of economists from the Federal Reserve Bank of New York considered to be the most damaging cyberattack in history, they recently updated an in-depth examination of cybercrime while offering three suggestions that could benefit finance companies and other firms that are entrenched online. Matteo Crosignani, Marco Macchiavelli, and André Silva from […] [Read More]

The number of integrations and partnerships involving 700 Credit has ramped up again in recent days as the credit reports, compliance solutions and consumer pre-qualification products landed relationships with Vision Dealer Solutions and Scienaptic. According to the first of separate news releases, 700 Credit said its new integration with Vision Dealer Solutions will provide dealerships […] [Read More]

Rising home values often prompt families to refinance their mortgages. Soaring used-vehicle prices evidently have done the same thing within the auto-finance space, according to a report from RateGenius, which works with more than 150 partners nationwide to help consumers refinance their installment contracts. RateGenius’ report indicated that approval odds for contract holders across the […] [Read More]

Exeter Finance is changing hands from one investment firm to another that already has a robust automotive portfolio. The finance company that specializes in the subprime market announced on Monday that it has entered into a definitive agreement to be acquired by an investor group led by Warburg Pincus from funds managed by Blackstone. According […] [Read More]

“The Mailman” now is delivering Toyota, Ford, Lincoln and Chevrolet vehicles in Arkansas. Karl Malone, who had that nickname while playing basketball in the NBA for 19 years, grew his business this week with the Karl Malone Auto Group by acquiring three new-vehicle franchises in El Dorado, Ark. According to a news release, the Teague […] [Read More]

Delayed for about a year because of the pandemic, Hertz’s effort to help the Jack & Jill Late Stage Cancer Foundation (JAJF) came to fruition. On Friday, Hertz announced that the donation of its 2020 Hertz-Hendrick Motorsports Camaro ZL1 has raised $250,000 for JAJF. Hertz donated the No. 1 production model of only 24 limited-edition […] [Read More]