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Matt Babcock of Wolters Kluwer on how digital transformation continues to gain steam in auto financing
Matt Babcock, who heads up digital lending product strategy for Wolters Kluwer, returned for another visit on the Auto Remarketing Podcast. Wolter Kluwer recently released its latest quarterly Auto Finance Digital Transformation Index. Babcock recapped the sustained upward trajectory the ... Listen Here
SPONSORED EPISODE: The Buy Online Shift & What Dealers Need to Know Now
In this sponsored episode of the Auto Remarketing Podcast, Cox Automotive’s Jeri Reichel joins us to speak to the evolving Buy Online experience. She shares more about how shopper expectations are changing and what dealers should understand and do as ... Listen Here
The Spark Between EVs & CPO
In light of electric vehicle maker VinFast launching a certified pre-owned program in the U.S., Auto Remarketing senior editor Joe Overby connects with leaders from the EV space to discuss why the segment is a natural fit for CPO and ... Listen Here

Cash Transactions for GM Models Climb

Nick Zulovich
WESTLAKE VILLAGE, Calif. — Recent data from Power Information Network discovered that cash transactions for General Motors models have jumped considerably, which may indicate that these dealers are having a tough time getting financing for their customers. "GM's proportion of cash ... [Read More]

Edmunds.com: Credit to Buy Still Available with Caveats

Nick Zulovich
SANTA MONICA, Calif. — While Jesse Toprak, of Edmunds.com, reports that the credit market is tighter than several months ago, he also indicates that credit is available for buyers. In fact, he attributes fewer sales more to the media than anything ... [Read More]

PROCON to Merge with DriveOK

Nick Zulovich
KNOXVILLE, Tenn., and SAN DIEGO, Calif. — PROCON Inc., a leader in mobile resource management solutions, and DriveOK, a fast growing small fleet, buy-here, pay-here GPS tracking equipment and services provider, recently announced that the companies will merge. The merger enables PROCON, ... [Read More]

Westlake Financial Enters New Jersey

Nick Zulovich
LOS ANGELES — Westlake Financial Services announced it is expanding into the New Jersey market. The company now originates automotive loan contracts in a total of 35 states throughout the U.S. New Jersey contracts began being accepted on Nov. 1. Mark ... [Read More]

NAF Association to Host Update on Non-Prime Auto Industry

Nick Zulovich
HANOVER, Md. — The National Automotive Finance Association, J.D. Power and Associates, in addition to TransUnion, are teaming up for a Webinar Nov. 19 at 2 p.m. EST that looks at the status of the non-prime auto finance industry. "Non-Prime Auto ... [Read More]

Comerica: Average New Vehicle More Expensive

Nick Zulovich
DALLAS — The purchase of an average-priced new vehicle took 24.1 weeks of median family income in the third quarter, according to the Auto Affordability Index compiled by Comerica Bank. The latest reading is up one week from the second quarter, ... [Read More]

Good News from Subprime Lenders

Nick Zulovich
Bankruptcies are at a three-year high, jobless claims at a 14-year high and both are increasing. So, what are the subprime lenders doing to remain profitable? What can you do to guarantee the survival of these needed financing sources? And ... [Read More]

Subprime Pullback Means Big Business for BHPH Dealers

Nick Zulovich
HOUSTON — Many subprime lenders are tightening their business and trimming back on dealer relationships, which is a boon to buy-here, pay-here dealers as many customers who normally went the more traditional finance route are now being pushed into these stores. ... [Read More]

O’Neil: DealerTrack Continues to Face Serious Headwinds

Nick Zulovich
LAKE SUCCESS, N.Y. — Reporting its third-quarter results, DealerTrack recently indicated that the tightened credit market has taken a toll, with the number of lender-to-dealer relationships down, along with fewer transactions processed via the platform. More specifically, the company said the ... [Read More]

Ford Credit Posts Net Income of $98 Million

Nick Zulovich
DEARBORN, Mich. — Ford Motor Credit's chief executive officer said he expects the market to remain "extraordinarily challenging." For the third quarter, the company reported net income of $95 million, down $239 million from earnings of $334 million a year earlier. ... [Read More]

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