Ally Financial already forged relationships with companies that might be considered non-traditional used-vehicle entities, like Carvana and Vroom. On Thursday, Ally added consignment-to-retail used-vehicle marketplace CarLotz to its client portfolio. According to a news release, Ally and CarLotz entered into a multi-faceted strategic relationship that includes consumer and inventory financing, remarketing and additional finance and […] [Read More]

Alliant Credit Union now is originating vehicle leases in four different states thanks to assistance from Credit Union Leasing of America (CULA). Having supported vehicle leasing for credit unions for more than 30 years, CULA is helping power the expansion of Alliant Credit Union’s vehicle leasing program into Pennsylvania, completing its first leases in the Keystone […] [Read More]

Contract extensions for auto financing are trending down. Consumer expectations for their household financial situations are improving. President Biden just signed the newest federal stimulus package. As individuals and industries acknowledged the first anniversary of COVID-19, analysts and experts are seeing a wide array of positive trends; ones that might help your current portfolio and […] [Read More]

As many vehicle owners drove fewer miles last year because of COVID-19 and stay-at-home orders, overall customer satisfaction with auto dealer service departments still increased for a sixth consecutive year. That is according to the J.D. Power 2021 Customer Service Index Study, which showed dealer service visits declining only by 6% from the previous year. […] [Read More]

Just a handful or so years ago, online used-car sales platforms like Carvana, Shift and Vroom were startups, thought of as “disruptors” to the market. These days, they have national advertising campaigns, even popping up during the Super Bowl. And after an IPO (from Vroom) and a SPAC merger (from Shift) in 2020, all three are […] [Read More]

Vehicle traffic might be flowing faster on the Capital Beltway because multitudes of federal employees continuing to work from home. However, the process to confirm President Biden’s nomination to be the director of the Consumer Financial Protection Bureau showed that gridlock on Capitol Hill is as snarled as ever. On Wednesday, the vote by U.S. Senate […] [Read More]

Fueled by a $10 million Series A funding round, online sales platform Digital Motors has expanded into Canada. The company, which is based in Southern California, provides dealers and automakers a platform that facilitates a purchase process where the customer can do any and all of the steps of the deal online. Or as Digital […] [Read More]

Manheim said Thursday it is amid what’s close to a $100 million investment to further connect its digital and physical offerings to meet the needs of its clients. As Manheim executives emphasized in a call Wednesday, the “digital transformation” of auction processes are not limited to sale day — there’s a lot that happens in […] [Read More]

As they face pressure from digital-savvy and informed consumers, many auto dealers are focusing on their digital experience. But many still face an industry-wide operational problem: employee turnover. Zach McVicker said that because of dealerships’ generic or outdated training based on transactional selling, buyers and salespeople are going elsewhere. McVicker is founder and chief executive […] [Read More]

Black Book reported on Tuesday that all 22 vehicle segments its analysts watch for weekly wholesale price updates moved higher. In a follow-up message to Auto Remarketing on Wednesday, Black Book said that across-the-board climb has happened only seven times since the company began to track the week-over-week changes in 2009. And in perhaps a […] [Read More]