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Special Finance®

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June 20, 2018 - Industry News

J.D. Power: Wholesale Prices Down in May, Auction Volume Growing

Wholesale prices declined in May, while auction volume continues to grow.  Photo by Eric Gandarilla.   

May’s wholesale prices for used vehicles up to eight years in age fell 1.7% from the prior month, a level that’s typical for this time of year, the firm stated in its June Used Car and Light Truck Guidelines report.

Tags: J.D. Power, used-vehicle values, Wholesale Pricing

June 20, 2018 - Industry News

ADT Announces Winners of 2018 Dealers’ Choice Awards

Dealers and dealership personnel have recognized 70 companies and individuals in 34 categories in the 2018 Dealers’ Choice Awards.

June 20, 2018 - Industry News

Vin-UP Offers Instant KBB Values

Auto dealers are using Vin-UP’s portable scanners and printers to retrieve Kelley Blue Book trade-in values and source pre-owned inventory from customers.

June 19, 2018 - Industry News

Spireon Rolls Out New GoldStar GPS Feature

The new feature provides instant vehicle location and status to help reduce risk and streamline recovery for buy-here, pay-here dealers and lenders.

Tags: auto finance, buy-here, GPS Tracking, pay-here, Spireon, subprime

June 19, 2018 - Industry News

New NY AG Settles With Queens Dealer Group

Recently appointed New York Attorney General Barbara Underwood has settled charges of deceptive practices against a four-rooftop, Queens-based dealer group.

June 13, 2018 - Industry News

Edmunds: Used-Vehicle Prices Hit Record High in Q1

Although shoppers continue to flock toward pricier trucks and SUVs, steadily rising gas prices are beginning to stimulate consumer demand and increase residual values for smaller vehicles.

Tags: Edmunds, Gas Prices, used-vehicle prices, used-vehicle values

June 13, 2018 - Industry News

ADESA Canada Names New Vice President of Dealer Sales

The firm named Steve Langdon, who joined the KAR family 15 years ago, to the role. The more than 20-year industry veteran will be responsible for implementing the ADESA Canada dealer sales strategy and promoting KAR’s integrated digital, mobile and physical auction services.

Tags: ADESA, ADESA Canada, Kar Auction Services, Steve Langdon

June 13, 2018 - Industry News

Manheim Opens New Recon Center Near Silicon Valley

Located at Manheim San Francisco Bay, the auction provider’s new retail reconditioning center was designed to serve clients’ growing and diverse needs.

June 7, 2018 - Industry News

KAR Names New Leader for Autoniq

Joe Oliveri, a 20-year industry veteran, was named vice president of KAR's Autoniq business unit, which provides mobile and digital vehicle pricing and evaluation reports.

Tags: Autoniq, Kar Auction Services, used-vehicle values, vehicle pricing

June 5, 2018 - Industry News

Black Book: Used Values Up 0.8% in May

Black Book’s Used Vehicle Retention Index shows 15 used-vehicle segments made gains in May, contributing to a 0.6% marketwide improvement over the past 12 months.

May 18, 2018 - Industry News

RMS Adds AI-Powered Portfolio Tools

RMS Automotive’s new Optimization suite was designed to leverage the combined power of machine learning and Cox Automotive data.

May 16, 2018 - Industry News

Black Book: Car Values Down for First Time in Two Months

With the spring selling season now in the rearview mirror, the car segment broke its two-month streak last week of rising wholesale values. Only full-size and sporty cars realized higher wholesale values through the week.

Tags: Black Book, car segment, depreciation, wholesale values

May 16, 2018 - Industry News

PassTime and Megasys Complete Integration

PassTime GPS users can now use Megasys’ origination and servicing platform to set up new accounts and manage assets.

May 3, 2018 - Industry News

USEA to Pay Bonuses to F&I Managers

US Equity Advantage now offers F&I managers bonus income in addition to standard commissions.

May 2, 2018 - Industry News

Incentives to Propel Leases for Compacts, Mid-Sizers in May

The latest forecast from Wantalease.com says factory incentives will spur lease originations for compact and mid-size vehicles throughout May.

May 1, 2018 - Industry News

Voting Opens for 2018 Dealers’ Choice Awards

Voting for this year’s DCAs begins today with the launch of a survey open to dealers and dealership professionals.

May 1, 2018 - Industry News

Rock Solid: Used-Car Values Flat in April

A strong spring selling season resulted in a flat Used Vehicle Retention Index in April, continuing a remarkable 12-month run in which the Black Book’s meter has only changed by -1.0%.

April 30, 2018 - Industry News

Black Book Launches Black Book Cherry

Black Book’s new inventory recommendation solution was designed to help dealers identify desirable auction units.

April 26, 2018 - Industry News

ProMax Sold to Private Equity Firm

SNH Capital Partners revealed today it has acquired ProMax for an undisclosed amount, a transaction the automotive software provider's founder hinted at in a social media post two weeks ago.

Tags: auto finance, CRM, desking, F&I menu, inventory management, ProMax Unlimited, SNH Capital Partners, special finance

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.