Floorplan providers are taking extensive actions nowadays to help independent dealerships secure the inventory they need as the wholesale market is impacted by soft volumes and soaring prices. After moves by Cox Automotive’s NextGear Capital as well as KAR Global’s AFC, ACV on Wednesday announced new title-dependent products available through its financing arm, ACV Capital. […] [Read More]

June is proving to be acquisitions month. Along with transactions involving dealer groups, auctions and digital retailing companies, Sedgwick — a leading global provider of technology-enabled risk, benefits and integrated business solutions — announced on Tuesday that it has acquired two regional automotive appraisal companies: Automotive Damage Appraisers of the Southwest (ADASW) and Metro Appraisal. […] [Read More]

After shoppers find a vehicle with all of the features they want, oftentimes the next question they want to be answered is how much their dream car is going to cost each month. To provide those details and more, Trusted Sale has partnered with OfferLogix to launch Trusted Car Payments — an online monthly payment calculator […] [Read More]

Digital Matrix Systems (DMS) is looking to make its underwriting and risk mitigation products even more robust as finance companies continue to navigate through portfolio building. On Tuesday, DMS announced the next generation of the company’s DMS Summary Attributes with the launch of Version 6.0.  Building on the legacy version’s long-term success, DMS highlighted Version […] [Read More]

A new partnership involving eLEND Solutions and Orbee is designed to keep shoppers already engaged with a dealership website moving down the purchase funnel. The fintech companies highlighted the integration of Orbee’s platform — which leverages data to provide in-depth, individual shopper profiles — with eLEND’s Express Credit App, a quick online finance application that can […] [Read More]

Fraudsters seem to be following the old cliché of “follow the money.” As more consumers go online for banking and other financial transactions, new research from TransUnion found that fraudsters are ramping up their efforts in the financial services industry. When comparing the last four months of 2020 and the first four months of 2021, […] [Read More]

The Consumer Financial Protection Bureau now is taking its regulatory aim at loans connected with workers involved in the gig economy and ride-sharing. The CFPB recently filed a proposed settlement against Driver Loan and chief executive officer Angelo Jose Sarjeant. If entered by the court, the settlement would require the defendants to refund about $1 […] [Read More]

EFG Companies is looking to leverage lessons learned through the pandemic to help dealerships get the most out of their F&I activities. This week, EFG announced the debut of its modular training subscription service that when piloted during the pandemic, resulted in an 18% lift in profit per unit sold (PRU) for clients. EFG highlighted […] [Read More]

Despite record-high wholesale prices and limited supply, used-car sales continued to gain traction in May. Cox Automotive said in a Data Point report last week that there was a [Read More]

Last weekend might have marked more than just Americans commemorating Memorial Day. Black Book now is watching closely for a potential pivot in the wholesale market. Analysts explained their reasonings in their latest installment of Market Insights released on Tuesday. [Read More]