Escalating vehicle prices are impacting auto-finance data, too, as Experian’s Q1 2021 State of the Automotive Finance Market report showed outstanding balances jumped 10.3% year-over-year from $1.168 trillion to $1.288 trillion. So, SubPrime Auto Finance News posed this one to Experian: In light of rising prices for both new and used vehicles, how close is […] [Read More]

CarLotz filed a Form 8-K with the Securities and Exchange Commission on Wednesday, explaining that its “profit-sharing corporate vehicle sourcing partner” has notified CarLotz that it has paused consignments to the company, given the condition of the wholesale vehicle market. CarLotz declined to share the name of the sourcing partner, citing a legal agreement, but […] [Read More]

SureSale wants to make it easy for retailers, independent technicians and repair facilities to share trusted used-vehicle history and real-time condition information, especially to quell concerns from customers who wish they had a “mechanic friend.” To meet that objective, SureSale on Wednesday launched what the company believes to be an industry-first vehicle inspection app for […] [Read More]

Going into Memorial Day weekend and the unofficial start of summer, Black Book used its latest installment of Market Insights to give a well-rounded recap of the rising wholesale price trajectory that’s now lasted four months with average weekly increases above 1.0% for the past 11 weeks. Black Book explained these rapidly rising values can […] [Read More]

Even (and perhaps especially) in an increasingly digital landscape, the physical space owned by brick-and-mortar auto auctions can be advantageous. That was apparent with a recent move by Manheim Central Florida, which transformed one of its unused spaces into a mechanic facility for retail reconditioning. The now 8,500-square-foot recon space was formerly a multipurpose facility […] [Read More]

LAUNCHER.SOLUTIONS wants to provide a smooth communication path from application to underwriting and then on to funding and delivery. The technology provider specializing in originations recently announced the release of its new product offering, appTRAKER CONNECT for its clients using appTRAKER Loan Origination System and launchPAD Loan Origination System. LAUNCHER.SOLUTIONS believes this unified communication tool […] [Read More]

This week, GWC Warranty welcomed an experienced executive to be its new senior vice president of sales. With a strong track record of managing top-performing territories, developing new channels of business, and building revenue-producing relationships, GWC said James Virgoe will lead the company’s sales organization with a focus on driving organizational innovation and growth as […] [Read More]

One of this year’s Emerging 8 honorees updated one of its tools that generated some of the reasons why the firm earned the accolade. Darwin Automotive this week announced that the most recent update to its digital retailing application ensures “truly integrated” chat for the entire dealership website journey. According to a news release, dealers […] [Read More]

Complications created by the pandemic made the job of underwriting departments even more challenging since that segment of finance companies is tasked with confirming a myriad of details to ensure quality paper flows into portfolios. To support the collective recovery of businesses and consumers, Experian this week announced its expansion into employer services and the […] [Read More]

Wrongful repossessions might be the most heartburn-inducing, headache-creating part of auto finance. Offering an assessment of the current landscape of recoveries and more on this episode of the Auto Remarketing Podcast is Sabrina Neff, a partner in the Houston office of Husch Blackwell, who also was named to the 2021 Texas Top Women Lawyers list […] [Read More]