Westlake Financial senior vice president of collections Brian Renfro knew his team was facing an incredible challenge. TransUnion’s industry-wide data showed the percentage of auto-finance contracts in financial hardship quickly rose as the pandemic intensified, jumping from 0.64% in March to 7.20% in June. Renfro understood his servicing team needed a solution that could ensure […] [Read More]

Byrider gave something a little more valuable than just candy this Halloween. This week, the chain of buy-here, pay-here dealerships announced it donated $10,000 for Riley Hospital for Children through its annual Race For Riley, held on Saturday at New Castle Motorsports Park in New Castle, Ind. The Halloween event marked the 17th year Byrider […] [Read More]

With five apiece, Honda and Toyota each received the most model-level awards for resale value as the J.D. Power 2020 U.S. Resale Value Awards recognized the best resale value across 25 model-level vehicle segments following three years of ownership. Honda and Toyota were followed by Lexus with four model-level awards and Chevrolet and Dodge, which […] [Read More]

Dealerships began November coming off a month of softer retail demand, but Black Book said most dealers are reporting it as typical seasonal softening. Black Book also mentioned that retail inventory levels currently sit about 12% lower than the start of the year. With prices cooling like the weather, are dealers stocking up on units […] [Read More]

The number of franchised dealer reviews over four stars has grown as a percentage of all reviews. According to a study from auto industry online reputation services company Friendemic, the number of positive reviews grew from January 2017 through August 2019. Negative reviews have dropped below 13% of total reviews. In a blog post titled, […] [Read More]

Hoping to bring happiness to educators and first responders amid their workday, the Jim Ellis Buick GMC Mall of Georgia team, along with vice president Stacey Ellis, recently delivered 171 meals for the Gwinnett County Sherriff’s Office, Gwinnett County Fire Department Station 24 and teachers at Buford Elementary. The team placed meals inside a GMC […] [Read More]

The American Recovery Association (ARA) recently distributed a message to the industry, reiterating its positions regarding personal property in repossessed vehicles. The move was triggered by the $5 million settlement Nissan’s captive finance company reached with the Consumer Financial Protection Bureau after the regulator said it found several violations by Nissan Motor Acceptance Corp. in […] [Read More]

It became apparent this spring, through the first wave of a Dealer Impact Study from Roadster and the National Automobile Dealers Association, that when dealerships were largely forced to go digital and sell remotely at the outset of the COVID-pandemic, they often became more efficient. Part 1 of the study found that a dealership salesperson was averaging […] [Read More]

Nortridge Software is also getting into the podcast business. The provider of loan management software designed to apply more automation to origination and servicing recently announced the launch of the ConsumerFi Podcast, which will be hosted by Nortridge director of business development Joel Kennedy, who is also the current president of the National Automotive Finance […] [Read More]

MUSA Auto Finance is looking to capitalize on the leasing market, especially with more happening digitally nowadays. This week, MUSA Auto Finance announced plans to expand both its new- and used-vehicle leasing platform nationwide through a partnership with two large U.S. financial institutions working together toward securitization. Auto Fin Journal asked MUSA Auto Finance representatives […] [Read More]