Seven-time NASCAR champion Jimmie Johnson closed that portion of his racing career in a car sponsored by an auto finance company. Now in a new circuit with a new car, Johnson’s ride is sponsored by an online used-vehicle retailer. On Monday, Carvana unveiled the paint scheme for Chip Ganassi Racing’s No. 48 Honda to be […] [Read More]

CapStreet Group, which invests in owner-managed, lower middle market companies, has completed the majority recapitalization of TradePending LLC. TradePending builds software for car dealerships, stating that it uses vehicle pricing data to enable digital retailing and boost online conversions and increase profitability for trade-in vehicles. TradePending chief executive officer Brice Englert said the new partnership sets the […] [Read More]

Bob Vail of Vail Buick GMC has been elected to the National Automobile Dealers Association’s executive committee as vice-chairman, region I. A former chair of the Greater New York Automobile Dealers Association, or GNYADA, Vail will represent the Greater New York region’s auto dealers. Those dealers represent a collective $53 billion economic impact and support […] [Read More]

Binary Automotive Solutions chief marketing officer Troy Scheer is back on the Auto Remarketing Podcast. In this epsiode, he talks more about social listening and how it can help dealers prevent future problems, lessons learned from 2020, new programs at Binary and much more. Plus, Troy shares a bit about his new podcast, "Culture of […] [Read More]

Separate reports from Bain & Co. and S&P Global Market Intelligence detailed how much the COVID-19 pandemic propelled the adoption of digital tools in banking and financing, cultivating a fertile field for more advancements and investments this year and beyond. Beginning with the consumer-facing perspective, Bain pointed out that customers have turned to digital channels for […] [Read More]

DigniFi — a platform company that connects consumers with finance companies for vehicle repairs, tires, accessories and other auto-related needs — recently named its new chief technology officer Reporting to chief executive officer Richard Counihan from Seattle will be Kevin Yu, who will be responsible for growing DigniFi’s engineering organization, continuously improving product quality and […] [Read More]

TD Bank Group (TD) recently made a significant commitment to safeguarding open-source software (OSS). According to a news release, TD became one of the first major banks to join Open Invention Network (OIN), collaborating with more than 3,300 other members in the non-aggression community funded by Google, IBM, NEC, Philips, Sony, SUSE and Toyota. OIN’s […] [Read More]

As Arivo Acceptance closed on its second securitization, paving the way for continued growth and expansion, S&P Global Ratings revised its outlook on Credit Acceptance to stable from negative after that finance company completed its latest securitization. Last week, Credit Acceptance announced the completion of a $500.0 million asset-backed non-recourse secured financing. Pursuant to this […] [Read More]

Black Book and Constant now are working together in an effort to help auto finance companies successfully navigate the potential rise in delinquencies and repossessions. Black Book enhanced data and analytics, including vehicle valuations, now have been integrated within the Constant+ loss mitigation platform. Access to Black Book data is now available for all Constant […] [Read More]

For the smallest buy-here, pay-here and independent dealerships, perhaps their best opportunity to secure funding through the latest round of the Paycheck Protection Program (PPP) arrives on Wednesday. According to an announcement from the White House on Monday morning, the Biden administration has instituted a 14-day period, starting Wednesday, during which only businesses with fewer […] [Read More]