The newest global study by TransUnion showed how much credit is being utilized, especially by individuals classified as either credit unserved or underserved. TransUnion reported on Thursday that more than 45 million consumers are considered to be either credit unserved or underserved in the United States. However, TransUnion’s study determined that about one in four […] [Read More]

Along with adding a new staff member in charge of dealer education, the National Independent Automobile Dealers Association also selected its newest Gold-level National Corporate Partner. According to a news release distributed this week, that partner is National Lenders General Agency, specializing in reinsurance products for dealerships and finance companies in the buy-here, pay-here, lease-here, pay-here […] [Read More]

Certified pre-owned vehicle sales at Mercedes-Benz Canada reached their highest-ever quarterly share of the company’s overall used-car sales, the automaker said Thursday. The company’s pre-owned division moved 3,492 used cars in the first quarter, a 9.2% year-over-year decrease. Mercedes said 3,240 were CPO vehicles, which translates to a 92.8% penetration rate, an all-time high. It’s […] [Read More]

CDK Global has signed a deal to be acquired by Brookfield Business Partners and institutional partners for a total enterprise value of $8.3 billion, with CDK shareholders receiving $54.87 per share once the transaction closes. That share price is 30% higher than the unaffected closing price on Feb. 18, which was the last full day […] [Read More]

After going six months without a sequential decline, Black Book’s Used Vehicle Retention Index has now fallen two months in a row. [Read More]

Along with his usual review of wholesale price data compiled within KAR Global, chief economist Tom Kontos also used his regular industry update to offer a forward-looking price assessment, leveraging figures from the U.S. Bureau of Labor Statistics. For his newest Kontos Kommentary, Kontos examined the historical relationship between the used- and new-vehicle consumer price […] [Read More]

Carvana said Wednesday it has expanded its presence in Maine, adding the Bangor area to its market count. The online retailer now operates in 314 markets. “We are proud to offer The New Way to Buy a Car to more than 300 cities across the country now and we’re confident Bangor area residents will embrace all […] [Read More]

As the global economy shifts and consumer credit markets evolve, TransUnion acknowledged that credit decisioning requirements have become even more complex and customized. To address the rapidly evolving needs and priorities of financial institutions, TransUnion announced on Wednesday an expansion of its go-to-market strategy for decisioning solutions by including leading decisioning platforms within its global […] [Read More]

Less than a month after landing a partnership with banking technology solutions provider Nymbus, Lightico announced on Wednesday it’s now collaborating with Wolters Kluwer Compliance Solutions, too. Lightico said it plans to leverage the capabilities of Wolters Kluwer’s eOriginal product suite of digital financing tools, including its eVaulting technology, to enhance Lightico customer transactions. Executives […] [Read More]

In August and September, iLendingDIRECT gained a new chief executive officer, raised $35 million to fuel its refinancing efforts and bolstered its workforce and infrastructure in South Carolina. On Monday, the company launched a brand refresh and new logo designed to highlight its mission of “paying goodness forward by empowering consumers.” The company now is […] [Read More]