Perhaps here’s some news on a Friday that might help finance companies and their collectors exhale a bit. The Consumer Financial Protection Bureau this week proposed extending the effective date of two recent debt collection rules to give affected parties more time to comply due to the ongoing COVID-19 pandemic. According to a news release, […] [Read More]

DigniFi, AutoNation and TR Wholesale Solutions are all working together to help customers finance tires that offer superior safety and performance. AutoNation uses TR Wholesale Solutions’ digital tire shopping platform to help its service advisors and customers shop, compare and order tires. By introducing DigniFi’s automotive financing platform into this experience, AutoNation and TR Wholesale […] [Read More]

GM Financial named Manheim Pennsylvania as the winner of its Most Valuable Auction of the Year award and also named five regional 2020 Auction of the Year winners. In selecting the recipients, GM Financial reviewed each of the company’s 51 auction partners’ performance in retention, operational metrics, pre-sale activities and overall auction operations. The awards […] [Read More]

Finished vehicle transport logistics provider United Road has launched a new sister company to connect United Road and Team Driveaway/Fr8 carriers with cost-saving resources and support services that are important to their day-to-day business operations. The sister company is the National Vehicle Transporters Alliance, or NVTA, which serves as a business resource for United Road […] [Read More]

AI-powered digital assistant provider Carlabs.ai is using a new Dealer Direct platform to expand its offering to the almost 18,000 franchised U.S. dealers. CarLabs is an AWS Advanced Technology Partner conversational platform that allows consumers to interact directly with an automotive brand’s data and digital assets. That interaction takes place as if they were talking […] [Read More]

Performance engagement software company Arcade is now an affinity partner with the American International Automobile Dealers Association, with the association’s leader saying the partnership could help shift the dealer’s culture to address a younger buyer base. Arcade’s product is designed to strategically motivate, engage and incentivize employees through gamification. AIADA members through the partnership will receive […] [Read More]

What a difference a year makes.  According to analysis from Cox Automotive, the seasonally adjusted annualized rate of total used-vehicle sales was 40.5 million last month, which is 117% stronger than March 2020, when COVID-19 was declared a pandemic and the impact to markets quickly escalated.  In addition to soundly beating the year-ago used-car SAAR […] [Read More]

One of the great ironies of the Supreme Court’s decision in Seila Law versus CFPB, in which the Supreme Court held that the Consumer Financial Protection Bureau’s (CFPB) structure was unconstitutional, is that it effectively provided no relief to Seila Law, the party that took the case all the way to the Supreme Court. On […] [Read More]

This week, Texas Capital Bank welcomed an executive who has served at institutions such as Truist Financial, Wells Fargo and Fifth Third Bank to serve in the newly created position of head of corporate banking. Appointed to this post effective immediately for the bank that works with an array of buy-here, pay-here dealerships is Julia […] [Read More]

In a move intended to improve cash flow for independent dealers, NextGear Capital on Thursday introduced a new program for its floorplan financing. The company highlighted its new flex pricing program can reduce the principal paydown rate to .01% per period — what NextGear believes is one of the lowest in the industry — and […] [Read More]