Despite the obstacles created by the coronavirus pandemic, Axis Auto Finance recently reported that it set a new record for originations and two other metrics during its 2020 fiscal year that closed on June 30. The publicly traded subprime automotive finance company said its originations for the 2020 fiscal year came in at $78.7 million, […] [Read More]

Along with donating 150,000 masks to three of the largest public school districts in Texas, GM Financial recently named five regional 2019 Auction of the Year winners and the recipient of the Most Valuable Auction of the Year Award. These accolades are part of GM Financial’s annual nationwide Auction of Excellence program, recognizing the highest-performing […] [Read More]

Full-size pickups are built for hauling capability, and these particular vehicles certainly are carrying wholesale prices higher. Referenced by KAR Global chief economist Tom Kontos, as well, Black Book senior vice president data science Alex Yurchenko described what full-size pickups did to wholesale prices as Black Book shared its Used Vehicle Retention Index for September. […] [Read More]

Synthetic identity fraud is an issue that has grown in complexity over the years and continues to be problematic with auto dealers and lenders alike. Because of its complex nature, The Federal Reserve reported recently that experts suggest a “comprehensive approach” for ongoing risk mitigation. The Federal Reserve report cited data that shows synthetic identities […] [Read More]

The Supreme Court began its term on Monday with plenty of turmoil swirling following the passing of Justice Ruth Bader Ginsburg in September and the U.S. Senate wrangling over how quickly the highest court goes back to nine members. Nonetheless, Hudson Cook partner Mark Rooney said the Supreme Court will consider several cases affecting the consumer […] [Read More]

Officials from 3530 Technologies recently broadened their partnership with Carleton, integrating CarletonCalcs and CarletonDocs API components into their software solutions and services for consumer and business lending. According to a news release, this new partnership expands CreditCore — 3530 Technologies loan origination solution(LOS) — to support direct lenders with comprehensive electronic documents and accurate and compliant […] [Read More]

It’s almost certain that 2020 will not be another record year for the certified pre-owned vehicle market, and annual CPO sales are likely to fall about 7% from where they finished 2019, the ninth straight best-ever year. But right now, certified is the hottest part of the auto retail market, analysts said during Cox Automotive’s […] [Read More]

The addition of BMW of Wesley Chapel marks the continued expansion of Morgan Auto Group into Florida’s Pasco County. Morgan Auto Group says it is one of the largest privately held U.S. automotive dealer groups, and the company said BMW of Wesley Chapel — located at 26645 State Road 56 — is its fourth Wesley […] [Read More]

During the first half of 2020, Costco Auto Program hosted five limited-time specials, which is an initiative to provide extra savings opportunities on vehicles. That is more than double compared to the previous year, and it resulted in nearly 45,000 additional vehicle sales. On Thursday, Costco Auto Program announced a multi-brand event. That event features […] [Read More]

If Tom Kontos wanted to speak in the language of his nationality when describing wholesale prices for pickups, the KAR Global chief economist would say “idiaítera dynatós,” which is Greek for “particularly strong.” Pickups are among the seven vehicle segments with wholesale prices at least 26% higher than a year ago, according to the August […] [Read More]