Lendbuzz is striving to modernize what it contends is an “outdated” auto-finance industry, with a focus on serving consumers who have thin or no credit history in the United States.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]

Back in February, HyreCar named a new president along with executives for the roles of chief technology officer and senior vice president of product and operations. On Wednesday and just five days before joining the Russell 3000 Index, the carsharing marketplace for ridesharing, food, and package delivery services announced the appointment of a new chief […] [Read More]

Volkswagen dealerships have another option when working with their service-drive customers who encounter repair costs higher than they expected and cannot pay with available cash. As a result, participating stores collectively already are seeing millions in additional service revenue. On Wednesday, Sunbit, the buy now, pay later (BNPL) technology for everyday needs and services, announced it has […] [Read More]

It’s been an active month for Automotive Ventures. Two weeks ago, chief executive officer and founder Steve Greenfield announced the final closing of the firm’s inaugural venture fund. Then according to a news release distributed on Wednesday, Automotive Ventures’ name surfaced again as it was involved with Lender Compliance Technologies (LCT) — a company that […] [Read More]

Dealerships that have potential buyers who insist they want an American-made vehicle now can point them to Tesla. That’s correct, at least according to Cars.com’s 2021 American-Made Index (AMI) released on Wednesday. Tesla topped the site’s independent, annual list that ranks the new vehicles that contribute most to the U.S. economy based on criteria ranging […] [Read More]