Budco Financial last week announced the integration of its 0% payment plan services into RouteOne’s menu powered by MaximTrak. Budco Financial highlighted that its addition to RouteOne’s F&I platform can provide dealerships the ability to seamlessly present, rate and remit F&I products electronically with an interest-free financing option to deliver a personalized, effective customer experience. […] [Read More]

Last week, Wells Fargo named a new head of its commercial auto group, shifting Cynthia Caine, a 30-year financial services veteran who most recently led the diversified industries group within distribution finance, into the position. In her new role, Wells Fargo said Caine will lead a team of seasoned professionals, providing finance solutions for more than […] [Read More]

With the goal of streamlining financing, retailing, wholesaling and leasing vehicles through a single mobile app, MUSA Auto Finance announced last week that it will rebrand as DRIVRZ Financial. According to a news release, this new brand will serve as the leasing and finance division of PowerBand Solutions, which acquired a 60% share of MUSA […] [Read More]

S&P Global Ratings recently discussed two topics quite relevant to finance companies: contract extensions and resulting defaults as well as actions at the Federal Reserve. Analysts discovered that as of February, extensions on auto-finance contracts contained in public asset-backed securities (ABS) fell to their lowest levels since the pandemic started, but they remained higher than […] [Read More]

Mike Dorazio opened a Mitsubishi store in Mechanicsburg, Pa., in 2019, and another in Lancaster, Pa., in 2020 right before the pandemic hit. After the start of the pandemic, “I took a different approach than some dealers would: I hit the gas,” Dorazio said in a news release. “I knew that the only way my […] [Read More]

Make that three straight months of records for the Manheim Used Vehicle Value Index. The Cox Automotive business unit’s measure of wholesale car prices came in at 194.0 for April, which beat year-ago figures by 54.3% and was nearly a 15-point jump from the prior record set a month before (179.2). Mix, mileage and seasonally […] [Read More]

Megan Tucker began working for America’s Auto Auction Greenville in South Carolina as a part-time office clerk in 2007. She also helped with some of the auction’s marketing activities, using her training as a graphic arts student at School of Communication Arts in Raleigh, N.C. She went on to handle the marketing for all of […] [Read More]

The Ed Morse Automotive Group has entered into the Missouri market by acquiring four dealerships in the state. The company acquired two dealerships in the city of Lebanon, and one each in Saint Robert and Rolla. These new dealerships will be Ed Morse Chevrolet, formerly Lindsay Chevrolet, in Lebanon; Ed Morse Ford, formerly Lindsay Ford […] [Read More]

There’s nothing magical or mysterious about selling. No secret handshake. No sure-fire script. No abracadabra. It’s a professional skill that can be learned and improved upon regularly. We classify the process of developing the skills necessary to succeed as “training.”  But first, a warning. All training theories and approaches are not equal. On March 31 […] [Read More]

The Federal Trade Commission released a report on Thursday that involves automakers and service departments at franchised dealerships. In a new report to Congress, the FTC said its analysis identifies numerous types of repair restrictions, such as using adhesives that make parts difficult to replace, limiting the availability of spare parts and making diagnostic software […] [Read More]