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Special Finance®

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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.

December 5, 2017 - Industry News

Fastlane Plans 2018 Launch for Ecommerce Solution

Fastlane has announced plans to offer its online car-buying platform to independent and pre-owned dealers starting in January.

December 4, 2017 - Industry News

Dealertrack and DealerCenter Announce Strategic Partnership

Dealertrack and DealerCenter announced a new partnership designed to deliver a more connected F&I workflow for independent dealerships.

November 21, 2017 - Industry News

Used Market Strong in October Despite 2.2% Decrease in Wholesale Prices

Thanks to the lingering effects of hurricanes Harvey and Irma, J.D. Power’s seasonally adjusted used-vehicle price index recorded its third straight monthly increase. It rose 1.1 points to 114.5.

November 15, 2017 - Industry News

US Equity Advantage Partners With Brown & Brown

The new partnership will allow USEA to offer its biweekly F&I service to automotive and recreational vehicle dealers through the AGWSmenu platform.

November 14, 2017 - Industry News

Black Book: Luxury, Sporty Cars Experiencing Increased Depreciation Entering November

Premium sporty cars recorded the largest decrease in value in October, while prestige luxury cars have registered the highest depreciation over the course of the last 12 months.

Tags: Black Book, Premium Sporty Cars, Prestige Luxury, vehicle depreciation

November 14, 2017 - Industry News

Black Book Provides Appraisal Data to ASNSoftware

Black Book has agreed to provide vehicle valuation data to ASNSoftware’s dealer management solutions, helping to power trade valuations for independent auto dealers.

October 17, 2017 - Industry News

Non-Houston Used-Vehicle Values Fall

Depreciation increased for both cars and light trucks, with car segments recording the highest weekly depreciation in seven weeks. Prices in the Houston-area, however, remain elevated, according to the firm.

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

October 6, 2017 - Industry News

DealerStrong Releases 2017 Special Finance Benchmark Report

Developed in partnership with ProMax Unlimited, DealerStrong’s 2017 Special Finance Benchmark Report includes metrics derived from more than 300,000 new- and used-car dealership transactions.

October 5, 2017 - Industry News

CFPB Finalizes Small-Dollar Lending Rule

In announcing the rule, the bureau used wording the American Financial Services Association said makes an important distinction between traditional installment lending and payday and title lending.

October 4, 2017 - Industry News

Black Book’s Index Records Largest Single-Month Increase Since 2012

Fueling the increase was vehicle replacement activity related to Hurricane Harvey, which began last month. According to Black Book, compact cars, compact crossover SUVs, full-size cars, and mid-size cars each realized significant month-over-month increases within the index.

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

September 27, 2017 - Industry News

Cox Automotive Names Janet Barnard Chief People Officer

Barnard steps into a role vacated by the retirement of longtime human resources leader Rock Anderson. Filling her role as president of the company’s Inventory Solutions group is Grace Huang, who served as senior vice president of Manheim Inventory Services.

September 27, 2017 - Industry News

Mass. AG Sues JD Byrider for Predatory Sales and F&I Practices

Massachusetts Attorney General Maura Healey has filed a lawsuit accusing JD Byrider of selling poorly reconditioned vehicles under unaffordable terms with unwanted F&I products.

September 26, 2017 - Industry News

J.D. Power: Wholesale Prices Decline in August

Wholesale prices of used vehicles up to eight years in age fell by 1.2% in August. Over the past five years, however, losses for the period averaged a more significant 2.2%.

Tags: JD Power, NADA Used Car Guide, used-vehicle sales, used-vehicle values, Wholesale Pricing, wholesale values

September 22, 2017 - Industry News

Dealers More Optimistic About Used-Car Market vs. New

Photo via order_242/Wikimedia (Creative Commons)

Sentiment speaks to recent auto finance data showing prime and superprime car buyers shifting toward used, where the average monthly payment was $139 less than the record $504 average monthly payment for new in the second quarter.

Tags: auto finance, Cox Automotive, Experian Automotive, new-vehicle sales, used-vehicle sales

September 14, 2017 - Industry News

ASI Raises Industry Standard With TruGAP Launch

Accelerated Service International (ASI) has launched TruGAP, a new product designed to meet customers’ expectations for coverage and value and raise the bar for GAP coverage industrywide.

September 7, 2017 - Industry News

AUL Promotes Bryan Nieves to Vice President of National Accounts

Byran Nieves

Aside from the promotion of Nieves, who has been with the company for more than 20 years and previously served as national accounts manager, AUL announced the promotion of Henry Paoli to national sales manager.

Tags: AUL Corp., F&I manager, F&I products, used vehicles, vehicle service contracts

September 7, 2017 - Industry News

Manheim to Close Florida Auctions Ahead of Irma

Satellite image of Manheim Fort Lauderdale via ThingLink.

Manheim said it's closing four of its Florida auctions on Friday ahead of Hurrican Irma's expected landfall there. The storm battered Puerto Rico on Wednesday after striking the northern Lesser Antilles and the Virgin Islands with 185-mile-per-hour winds.

Tags: ADESA, Auto Auctions, Hurricane Harvey, Kar Auction Services, Manheim, Natural Disaster