Last week, Lobel Financial Corp. finalized a settlement with the Consumer Financial Protection Bureau totaling more than $1.4 million. According to a news release, the bureau found that Lobel engaged in unfair practices with respect to the finance company’s loss damage waiver (LDW) product in violation of the Consumer Financial Protection Act (CFPA). When a […] [Read More]

Less than half of car dealers were providing home-delivery of vehicle purchases when the COVID-19 pandemic began in March, according to CARS Dealer Community data from the group that includes Cars.com, DealerRater and Dealer Inspire.   However, 66% of dealers were offering such services by August, the data shows. About a fifth of recent buyers have used […] [Read More]

Wholesale values are continuing their typical autumn descent, according to the COVID-19 Market Insights released by Black Book on Tuesday. However, analysts and auction observers noticed that consignors aren’t budging much when it comes to the floors for the limited volume of vehicles going through the wholesale market nowadays. With that scenario as the backdrop, […] [Read More]

TrueCar this past May launched TrueCar Military, a dedicated vehicle purchase program providing exclusive military incentives and exclusive benefits to those who have served in the U.S. armed forces and their families. Among the current TrueCar Military benefits is up to $4,000 in military Incentives on select makes and models. On Tuesday, TrueCar said it […] [Read More]

Kenny Cheung, who was recently promoted to executive vice president of finance, chief operational finance and restructuring officer for Hertz Global Holdings, has been named the company's chief financial officer. Cheung, who previously served as senior vice president of global financial planning and analysis and chief financial officer of North America at Hertz, joined the […] [Read More]

Global digital marketplace IAA says PayPal is now a new payment option for vehicle purchases, registration, fees and vehicle transportation booked online. As a result of the company’s customer experience, or CX discipline, IAA says it has researched and developed expanded payment options. Those options, according to IAA, offer more purchasing power and accessibility from what […] [Read More]

Sonic Automotive is beefing up its EchoPark Automotive retail hub location in Charlotte, N.C. The retailer bought roughly four acres of land adjacent to that EchoPark retail hub, which will allow for about 400 additional vehicles to be parked there. With this addition, there would be room for approximately 1,000 vehicles at the Charlotte EchoPark […] [Read More]

CARFAX Canada took home honors as the “Large Business of the Year” for the second time during last week’s London Chamber of Commerce Business Achievement Awards. The company previously won this award in 2012. The gala for the awards, which was held Wednesday at the Best Western Lamplighter Inn in London, was scaled down this […] [Read More]

A new service provider now is involved with an established program for independent dealerships to retail certified vehicles just like their franchised store competition. According to a news release distributed on Tuesday, GSFSGroup has partnered with the National Independent Automobile Dealers Association as the new administrator for automotive financial products through the NIADA Certified Pre-Owned […] [Read More]

As sales continue to rebound throughout Canada in the midst of the coronavirus pandemic, credit availability is playing an even more important role as dealers and buyers work together toward delivery. To help dealerships, finance companies and other part of the industry, Autocorp Technologies is working with Cherokee Media Group to host a free webinar […] [Read More]