For a used-car shopper, figuring out if a specific vehicle will be dependable can be tricky. In fact, the recent CarGurus Reliability Survey found that just over half (51%) believe determining the reliability of a pre-owned vehicle is “easy.” With that in mind, there are factors that used-car shoppers consider when thinking about vehicle reliability, […] [Read More]

It delights auto-finance companies when their customers set up an ACH path for monthly payments. And providers likely are excited about that stream potentially growing since Nacha, which governs the ACH Network, saw total volume soar during the first quarter of the year, setting two new records in the process. Nacha said quarterly volume of […] [Read More]

Sweet 16, indeed. Black Book reported on Tuesday via its latest installment of Market Insights that wholesale values now have increased for 16 consecutive weeks. It’s getting so intense in the lanes that some dealers are fetching better returns in the wholesale space rather than via retailing. “Despite the limited inventory on dealer lots, many […] [Read More]

ADESA said Tuesday it has named new general managers at several of its auction locations throughout the U.S. and Canada. Those auctions and their respective new GMs are: ADESA Pittsburgh: Carly Bishop ADESA East Tennessee: Terry Costner ADESA Nashville: Ryan Hellemn ADESA Mercer: David Skiver ADESA Houston: Brian Wetzel ADESA Moncton: James Murphy Regarding the […] [Read More]

Automotive marketers, dealers and lenders today are focusing their customer engagement strategies on data more than ever. However, how — and what — data can be leveraged requires close attention. Google has announced plans to stop tracking cookies in its Chrome browser by 2022. And, Apple has announced that, as part of the iOS 14 […] [Read More]

Perhaps the next round of coffee or drinks should be in celebration for the collections departments at auto-finance companies. The auto portion of the S&P/Experian Consumer Credit Default Indices declined again in April and now sits just 3 basis points away from the all-time low recorded by S&P Dow Jones Indices and Experian. According to […] [Read More]

Tricolor — a tech-enabled Community Development Financial Institution (CDFI) and one of the nation’s largest used-vehicle retailers that caters to Hispanic consumers — said in a new white paper that, in fact, 96% of its customers are Hispanic. And the company explained that the pandemic heightened its mission to be an outlet for Hispanics to […] [Read More]

It’s probably the unofficial mantra of buy-here, pay-here dealers when operators say, “We’re not in the car business. We’re in the collections business.” Well, the newest Bronze-level National Corporate Partner of the National Independent Automobile Dealers Association aims to help operators keep payments coming into their accounts. Carpay, a loan management software provider, recently joined […] [Read More]

DealerSocket is set to have new ownership. According to a news release distributed on Monday, Solera Holdings announced that it will acquire DealerSocket as well as Omnitracs, a complete fleet management platform. Financial terms were not disclosed. Solera said the acquisitions are expected to close during the second quarter and are subject to definitive agreements […] [Read More]

In looking at the highlights of the first-quarter results at ACV Auctions, one in particular stands out: its auction marketplace revenue nearly doubled. ACV reported $34.3 million in auction marketplace revenue during Q1, which beat year-ago figures by 92%.   Its marketplace and service revenue was up 69%, coming in at $58.4 million. Marketplace unit sales were […] [Read More]