As we move deeper into December, many people begin thinking about holiday shopping. And they often think about trying to get a good deal on a used car. However, those bargain-seeking shoppers might not be flocking to your store showroom or dealer website this month if they use the guidance recently shared by iSeeCars. The beginning […] [Read More]

The Consumer Finance Protection Bureau recently entered into a consent order with a national lender regarding certain practices related to vehicle repossession. Since the CFPB appears to generally “regulate by enforcement,” lenders can learn valuable lessons by reviewing the CFPB’s consent orders. In this case, the CFPB found that lender violated the Consumer Financial Protection […] [Read More]

This week, AUL Corp. senior vice president of strategic product development Jason Garner announced the rollout of new enhanced options to the F&I provider’s core vehicle service contract policies for pre-owned units. Targeting both independent and franchise dealers, AUL’s enhancements include options for unlimited time terms and coverage for hybrid/electric vehicles and hybrid/electric battery coverage. Garner […] [Read More]

Also included in a series of notable transactions this week, Kingsway Financial Services announced the closing of its acquisition of PWI Holdings, culminating a move first made public back in October. The previously announced purchase price of the KAR Global F&I entity was $24.5 million. Kingsway said it financed the acquisition and the payoff of […] [Read More]

A joint study between Facebook and PureCars shows the impact social marketing tools have on dealers that rely more heavily on digital retailing while cutting advertising expenses. Understanding how today’s digital advertising resources measure and attribute offline sales back to Facebook/Instagram was one purpose of the study, which took place during the first quarter. The […] [Read More]

As part of Used Car Week's Pre-Owned Con next week, Cherokee Media Group will recognize honorees in the annual Used Car Awards, a program presented by KAR Global.  That includes our annual Independent Dealer of the Year, which this year goes to Kevin Condon, who is general manager of Auction Direct USA in Raleigh, N.C. Below is […] [Read More]

Impact Auto Auctions Ltd. has launched SpinCar Feature Tour within its online auction platform. Impact Auto Auctions is the Canadian business unit of digital global marketplace IAA, and Feature Tour is powered by SpinCar’s cloud-based software platform and database of OEM-endorsed multi-media content. With Feature Tour, Impact’s buyers gain instant access to each vehicle’s original […] [Read More]

Manheim will soon close out its 75th anniversary year, and it is also celebrating the careers of what it says are several valued and long-standing company leaders. “As we celebrate and reflect on our 75th anniversary, we will greatly miss these valued colleagues who contributed so much during their careers at Manheim,” Manheim president Grace […] [Read More]

Tricolor reinforced its management team on Thursday as the retailer that’s focused on Hispanic consumers named three new executives with chief in their title. The tech-enabled Community Development Financial Institution (CDFI) named Nick Brown as chief risk officer, Albert Hoover as chief corporate development and legal officer and Troy Sterk as chief supply chain officer. […] [Read More]

The company’s annual convention had to be virtual this year to accommodate safety precautions amid the COVID-19 pandemic, but Byrider still honored 15 different franchise store operators. The chain of buy-here, pay-here stores handed out Franchises of the Year Awards in three separate categories and also gave the Founders Award for operators celebrating a 10- or […] [Read More]