In an effort to help banks and credit unions, Abrigo and RouteOne announced on Tuesday how they’re now working together. Abrigo, a provider of compliance, credit risk and lending solutions for financial institutions, is now integrated RouteOne, which helps to facilitate indirect auto financing. The companies said their integration is designed to ensure community financial institutions […] [Read More]

It seems like everywhere businesses in all industries look, fraud is a growing threat. Results from the latest Small and Midsize Business (SMB) Lending Fraud Study from LexisNexis Risk Solutions emphasized the situation. The survey of risk and fraud executives at financial institutions reveals that SMB lending fraud in the United States has increased 6.9% […] [Read More]

Exeter Finance first started to use software from Solifi — formerly known as IDS and White Clarke Group — nine years ago. And this week, the finance company that specializes in non-prime credit decided to continue the utilization. Solifi announced that Exeter extended its agreement to use the platform in more than 11,000 U.S. dealerships. […] [Read More]

If an individual with a less than prime credit background still somehow secured financing for a new vehicle in January, there’s a notable possibility that the installment contract will be underwater for some time, based on record-breaking data Edmunds shared on Tuesday. Edmunds said more consumers than ever are paying above sticker price for a […] [Read More]

If an individual with a less than prime credit background still somehow secured financing for a new vehicle in January, there’s a notable possibility that the installment contract will be underwater for some time, based on record-breaking data Edmunds shared on Tuesday. Edmunds said more consumers than ever are paying above sticker price for a […] [Read More]

Alternative forms of used-car retailing were on full display Sunday night during Super Bowl LVI, with Carvana and Vroom both showcasing advertising spots. Now another relatively new business model in the pre-owned space — consignment-to-retail used-car marketplace CarLotz — is making some advertising waves. The company said Tuesday it has launched new marketing for the […] [Read More]

CarOffer reached a notable milestone, as the CarGurus’ subsidiary announced on Tuesday it has enrolled 10,000 dealer rooftops on its automated instant wholesale vehicle trade platform. According to a news release, CarOffer enrolled dealer rooftops are defined as those for which CarOffer and the applicable dealer have signed an enrollment agreement to participate on the […] [Read More]

Motormindz, Inc. said Tuesday it has named former CDK Global and AutoNation executive Ron Frey as a strategic advisor to its board. Frey is the founder of RL Frey Inc. “Ron’s ability to develop, operationalize, and drive key strategic priorities will be vital as we continue to navigate rapid growth on a global scale,” motormindz […] [Read More]

The delicious chicken wings and cold beer you might have enjoyed for Super Bowl Sunday likely are long gone, but Black Book’s experts are seeing the potential for something tasty cooking at the auction, with values declining at a pace much higher than seen before the pandemic. After considering the data Black Book shared in […] [Read More]

Market conditions in the early days of 2022 aren’t exactly ideal for certified pre-owned vehicle sales. Off-lease vehicles, a primary source of CPO inventory, are slim pickings, and the combination of high acquisition and certification costs vehicles makes it a pricier option for many dealers. That’s according to Friday's Data Point report from Cox Automotive, which said […] [Read More]