Tim West is nearing the final hammer of his professional career in the wholesale industry. Black Book announced on Monday that West, the company’s vice president and North American auction director, plans to retire at the end of the year after more than 36 years with the company. “Tim is a trusted colleague and one […] [Read More]

Artificial intelligence (AI). In recent years, it has been touted as the future of nearly every industry. It is certainly the future of auto finance. In fact, it has already begun to transform several of the sector's key processes, such as credit decisioning. But there is some distance to go before AI can reliably underpin […] [Read More]

CRIF Select recently finalized relationships with Pentagon Federal Credit Union (PenFed) and Auto Financial Group (AFG). CRIF Select reached an agreement for an exclusive indirect financing partnership with PenFed Credit Union, which is headquartered in Tysons, Va., with more than $26 billion in assets and serves more than 2 million members in locations throughout the United […] [Read More]

Alleged fraudsters tried to cultivate quite a scheme in the Garden State during a two-year timeframe. Last week, New Jersey attorney general Gurbir Grewal announced that nine individuals have been charged with conspiring to use stolen identities to obtain New Jersey digital driver’s licenses which they used to fraudulently purchase and finance vehicles and watercrafts […] [Read More]

A company providing a solution primarily to just independent dealerships in Utah received a funding injection to broaden its customer base nationwide and with franchised stores, too. Carketa, the Utah-based developer of the Carketa Recon Software as a Service app and the Carketa Condition Report announced on Thursday that it closed a $1.375 million seed […] [Read More]

Impact Auto Auctions Ltd., the Canadian business unit of digital global marketplace IAA, said on Thursday it was shifting its online auction platform Impact AuctionNow to a “fully digital experience.” IAA developed AuctionNow, which is an adaptive platform used in the Canadian and U.S. markets. IAA says it developed the platform “to allow product enhancement […] [Read More]

A partnership between the Elway Dealership Group and Schomp Automotive Group has purchased Porsche Salt Lake City from Strong Automotive Group. Hall of Fame football player, John Elway, and business partner Mitch Pierce founded Elway Dealership Group in 2004. The group has holdings in Colorado and California. The Strong family in 1958 established Porsche Salt […] [Read More]

Used-car inventory can be scarce for car dealers these days.  With that in mind, PureCars chief executive officer Jeremy Anspach joins the Auto Remarketing Podcast to discuss alternative routes dealers are taking to find used cars, including mining their existing customer base. To listen to the entire conversation, click on the link available below, or visit the Auto […] [Read More]

Perhaps a primary reason recently Wolters Kluwer Lien Solutions hosted an informational webinar appeared through a participant survey conducted during the session. Nearly 60% of the live webinar audience polled about portfolio management for auto financing responded that they felt only “somewhat prepared” for internal audits and regulatory exams assessing their practices. After seeing that […] [Read More]

Edmunds shared data with SubPrime Auto Finance News that average down payments in August climbed by more than $400 on new-car deals and by nearly $700 on used-vehicle transactions. Experts and surveys both pointed to how previous federal government stimulus efforts helped consumers spend on big-ticket items like a vehicle. But the prospect for more […] [Read More]