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April 25, 2018 - Industry News

CarMD: Check Engine Repair Costs Fell 10% in 2017

CarMD’s newly released 2018 Vehicle Health Index indicates more vehicle owners are taking maintenance and ‘check engine’ warnings seriously.

April 19, 2018 - Industry News

Black Book: Small Cars Hold Their Own in March

Black Book’s most recent depreciation data charts a spring surge — and predicts a decline — in values for compacts and other smaller-car segments.

April 12, 2018 - Industry News

Credit Acceptance’s Steve Jones to Retire

The subprime finance source’s president since April 2007 will retire on June 30, CEO Brett Roberts announced in a recent regulatory filing.

Tags: auto finance, Brett Roberts, Credit Acceptance Corp., special finance, Steve Jones, Subprime Financing

April 9, 2018 - Industry News

NextGear Offers Expedited Funding Process

NextGear Capital has introduced ‘Rapid Pay,’ a new feature designed to help dealers initiate the vehicle funding process before the title is received.

Tags: auto finance, floorplan financing, NextGear Capital

March 29, 2018 - Industry News

Black Book: Car Segment Values Strongest in Two Years

Last week, car segment values were up 0.26% compared to the 0.01% depreciation the segment experienced the week prior. This added up to the strongest week for car segment values in two years.

Tags: Black Book, used-vehicle values, vehicle depreciation

March 20, 2018 - Industry News

Study: Used Car Profit Gap Closing

A survey of 250 U.S. franchised dealerships revealed a 21% drop in the gross-margin gain between new- and used-vehicle sales as off-lease units flooded the market in 2017.

March 19, 2018 - Industry News

AUL Names Jose Fleites CIO

AUL Corp. has expanded its executive leadership team with the hire of Jose Fleites as chief information officer.

March 13, 2018 - Industry News

Pearl to Debut Pre-Owned Marketing Platform at NADA 2018

Pearl Technology Holdings plans to unveil a ‘next-generation’ used-vehicle sales platform at this month’s NADA convention.

March 13, 2018 - Industry News

TD Auto Finance Commercial Services Announces National Expansion

The business unit began offering commercial loan products in June 2011, primarily in the East Coast. It had since expanded into the Midwest prior to today’s announcement.

Tags: auto finance, commercial financing, dealers, floorplan financing, TD Auto Finance

March 8, 2018 - Industry News

Black Book: Used Retention Index Rises on Early Spring Selling Activity

The spring selling season got off to an early start, leading to a slight month-over-month uptick in the firm’s Used Vehicle Retention Index. The big question is how the harsh weather that has recently struck parts of the country will impact values moving forward.

Tags: Black Book, Used Vehicle Retention Index, used-vehicle sales, used-vehicle values

March 7, 2018 - Industry News

Hyundai Lists CPOs for Sale on Carfax Website

Car buyers perusing Carfax.com’s used-vehicle listing can now choose to view certified pre-owned Hyundais listed by the factory.

March 5, 2018 - Industry News

Fidelis PPM Adds Deductible Reimbursement

Dealers selling Fidelis PPM maintenance plans can now enjoy complimentary auto deductible reimbursement coverage.

March 5, 2018 - Industry News

Dominion Unveils Updated Equity Mining Tool

Ver. 4 of Dominion Dealer Solutions’ DealActivator equity mining solution was designed to offer improved functionality, greater conquest capitalization, and a better user experience.

February 27, 2018 - Industry News

NextGear Enhances Account Management Platform

The floorplan financing provider has updated its Account Portal management platform with a new feature that allows dealers to opt into a recurring and automated payment system.

Tags: auto finance, floorplan financing, NextGear Capital, technology

February 8, 2018 - Industry News

Manheim: Wholesale Prices Decline for Third Straight Month

Despite a 4.9% increase from a year ago, the Manheim Used Vehicle Value Index’s January reading was the lowest since last July.

February 7, 2018 - Industry News

Black Book: Index Falls 1.2% to 113.1 in January

The firm had expected a steeper decline due to replacement activity linked to last year’s hurricanes. Instead, Black Book saw fairly typical depreciation.

Tags: Black Book, Hurricane Harvey, Hurricane Irma, used-vehicle values, vehicle depreciation

February 7, 2018 - Industry News

Black Book: Start of Tax Seasons Brings Low Depreciation, Strong Auction Sales

The beginning of tax season saw stronger sales at auction, especially for mainstream car segments. Mid-size cars led the way in terms of value retention in the car segment, while minivans, full-size vans and small pickups saw no change last week.

Tags: Black Book, tax season, used-vehicle values, vehicle depreciation

January 30, 2018 - Industry News

Good as New: Autotrader Lists Top 10 CPOs for 2018

Autotrader has listed the top 10 certified pre-owned models for new-car buyers on a budget.

January 25, 2018 - Industry News

Innovate Auto Finance to Service Subprime Portfolio Worth $50 Million

The purchaser and service of vehicle loan portfolios said it has been retained by an unnamed, multinational investment firm to source $50 million worth of subprime auto loan portfolios.

Tags: auto finance, Innovate Auto Finance, subprime

January 23, 2018 - Industry News

Lending Tree: Used-Car Buyers Stretch for Some Brands

Lending Tree has ranked the used-car brands Americans will stretch their finances furthest to afford.

January 22, 2018 - Industry News

Black Book: Vehicle Depreciation Dropped to 13.2% in 2017

The average price of a used vehicle for model years 2012–’16 depreciated in value by 2.9%. Cars overall dropped by 3.0% and trucks decreased by 2.8% in value during December.

January 16, 2018 - Industry News

Black Book: Subcompact Crossovers Register Steep Value Declines

Subcompact crossovers joined the full-size vans and minivans as the truck categories registering the steepest declines in value last week, while subcompact cars joined full-size cars and sporty cars as the depreciation leaders in the car segment.

Tags: Black Book, cars, subcompact cars, subcompact crossover, trucks, vehicle depreciation

January 10, 2018 - Industry News

Manheim Market Report Reaches 23 Million Visits in 2017

After making upgrades to its Manheim Market Report this past summer, Manheim announced today that more than 90,000 unique users, on average, access MMR each month.

Tags: Auction, Manheim, wholesale vehicle valuations

December 21, 2017 - Industry News

J.D. Power: Used Vehicle Price Index Falls 1.4% in November

Underperforming van and car segments led to a decline in J.D. Power's used vehicle price index in November, a reversal from the index's previous three months of consecutive growth.

Tags: J.D. Power, new-vehicle sales, SAAR, Used Vehicle Price

December 18, 2017 - Industry News

Black Book: Hurricanes Boosted Used-Vehicle Values 2%

Courtesy of Enterprise Holdings.

The firm said hurricanes Harvey and Irma had a similar effect on used-vehicle values as the Clash for Clunkers program had on values in 2009.

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