Jack Tracey was a man I looked up to — literally and figuratively. Likely similar to scores of other industry executives, I was jarred this week to learn of the passing of Jack Tracey, a founder and the only executive director the National Automotive Finance Association ever had. Jack possessed both a notable physical stature […] [Read More]

The National Automotive Finance Association said one of its founders and the only executive director it's ever had passed away earlier this week. The NAF Association confirmed in a statement on Friday that Jack Tracey passed away on Monday after a brief illness. The NAF Association said his funeral in Hydes, Md., is scheduled for […] [Read More]

Shift recently created the position of chief accounting officer and filled it with an executive familiar to chief financial officer Oded Shein. The auto ecommerce platform announced on Thursday that Jason Curtis has been appointed as chief accounting officer in a move that was effective on June 1. In this role, Shift said Curtis will […] [Read More]

DriveItAway has a new institutional investor. The platform that offers dealerships the chance to provide cash-strapped customers the opportunity to secure a vehicle via its rent-to-own technology announced this week that Knightsgate Ventures — a leading venture capital firm focused on social and financial returns — has become an institutional investor in the company. DriveItAway […] [Read More]

Lendbuzz is striving to modernize what it contends is an “outdated” auto-finance industry, with a focus on serving consumers who have thin or no credit history in the United States. And its drive toward that modernization got quite a financial boost this week. The platform based on artificial intelligence announced a $360 million investment, including […] [Read More]

Tricolor Financial is now leveraging a tool from Digital Matrix Systems (DMS) so it can continue to improve as an artificial intelligence-driven, tech-enabled Community Development Financial Institution (CDFI) focused on providing auto financing for underserved Hispanic consumers. This week, DMS announced that Tricolor has chosen to use CreditBrowser, a web-based data access tool that can […] [Read More]

NextGear Capital and 10 independent dealers evidently see the potential benefits of meeting regularly in a digital space — something like we’ve all done often throughout the pandemic. In an effort to stay connected with clients beyond just surveys and anecdotal feedback, NextGear Capital this week announced the creation of the DRIVE Dealer Advisory Board […] [Read More]

Even when finance companies helped their customers with installment payment accommodations during the worst of the pandemic, providers oftentimes still saw funds following into their collection baskets. That’s one of the conclusions from a new TransUnion study that found the majority of consumers continued to make payments on their accounts even when in an accommodation […] [Read More]

Culture and children continue to be among the focus areas of the organizations receiving financial support from the Nissan Foundation. The automaker’s philanthropic arm announced it is awarding $697,000 in grants to 28 nonprofit organizations for its 2021 grant cycle. According to a news release the nonprofit recipients are located in Southern California, Tennessee, Texas, […] [Read More]

Wholesale vehicle prices were up in Canada last week, but only slightly, according to the latest weekly report from Canadian Black Book. Overall, prices climbed 0.08%, compared to a gain of 0.35% the prior week. The average for the same week during 2017-2019 was a dip of 0.19%, CBB said. Car segments were ahead of […] [Read More]