A New Jersey Volvo dealership reaped the benefits of when fintech firms collaborate with the goal of making digital retailing more efficient for both stores and their customers. When COVID-19 hit back in March, New Jersey was shut down and Prestige Volvo principal Matthew Haiken was forced to lay off the dealership’s sales department. At […] [Read More]

In May 2019, Brian Jones founded Gravity Lending to build a portfolio of refinanced auto contracts, home improvement loans and other funding to help consumers with personal needs. After Jones formed his company in Austin, Texas, he quickly realized that his operation needed a solution that could enable his team to provide a completely streamlined digital […] [Read More]

Wolters Kluwer Lien Solutions is adding to its trophy case again during what's been a rewarding year so far. The company announced this week that it has won four 2020 International Business Awards , including two Gold-level awards, as part of the Stevie Awards program for innovation. The company’s newest accolades included: • Best FinTech […] [Read More]

S&P Global Ratings reported on Tuesday that contract extensions connected with public auto loan asset-backed securities (ABS) improved at an accelerated rate in July relative to June, representing the third consecutive month of declines. The firm also noted the rates at which contract holders made a full payment after their extension expired. Analysts discovered these […] [Read More]

Since Kelley Blue Book partnered with Charitable Adult Rides & Services, or CARS, in 2017, visitors to KBB.com have helped raise $2.5 million for 945 different non-profits. That includes St. Jude Children’s Research Hospital, which has so far received nearly $1 million in total revenue through KBB.com. Now, Kelley Blue Book is expanding on its […] [Read More]

Expanding its Southeastern regional presence, Lithia Motors has purchased Jim Cogdill CJDR in Knoxville, Tenn. The move marks Lithia’s entrance into the Tennessee market, with the company serving Knoxville and neighboring communities. Lithia expects the Knoxville location to add $90 million in annualized revenue. That will bring Lithia’s total network expansion to more than $1.7 […] [Read More]

Car buying and financing services startup Carsfast says Chicago residents have welcomed its contactless service, which according to the company allows people to shop and get financed for near-new cars, all from their cell phone. “We are thrilled to launch this new artificial intelligence technology in the Chicago market,” the company’s chief executive officer and […] [Read More]

Imagine as a buy-here, pay-here operator, you had access to some of the same financial and technological horsepower franchised dealerships have with their relationships to automakers and captives. That’s pretty much what Agora Data and Westlake Portfolio Management (WPM), a subsidiary of Westlake Technology Holdings, are looking to provide. On Monday, Agora and Westlake announced […] [Read More]

A former president of the National Independent Automobile Dealers Association and one of his store managers recently pleaded guilty in federal court to a charge of fraud conspiracy, according to an announcement from U.S. Attorney Scott Brady. The Justice Department said former NIADA president Andy Gabler of Harborcreek, Pa., and Chad Bednarski, of Fairview, Pa., […] [Read More]

The traditional automotive auction landscape has remained largely unchanged for quite some time, but as with every industry, technology offers opportunities to improve, innovate and push the industry forward.  With the digital landscape opening opportunity, many online auctions offered an entirely digital auction experience, attempting to replace while not effectively replicating the live experience. Still, […] [Read More]