The Industry's Leading Source For F&I, Sales And Technology

Special Finance®

101  -  125  of  1771

December 7, 2016 - Industry News

Channel Stuffing, Incentives Responsible for Slip in Manheim Index

Wholesale used vehicle prices on a mix-, mileage-, and seasonally adjusted basis declined 1% in November, according to Manheim’s Used Vehicle Value Index report. Due to this decline, the Manheim Used Vehicle Value Index fell 0.3% from a year ago to 124.7.

Tags: Manheim, Used Vehicle Value Index, used vehicles, Wholesale Pricing

December 6, 2016 - Industry News

Black Book: Trucks Depreciating More Than Cars

The pendulum finally swung last week, with trucks showing higher depreciation than cars for the first time this year, according to Black Book.

Tags: Black Book, used-vehicle values, Value Retention, vehicle depreciation, wholesale values

December 5, 2016 - Industry News

DealerSocket Announces Integration With FetchAQuote.com

Through this integration, customers at independent dealers will be able to look through different car insurance options, secure a quote they like and purchase the coverage on the spot, the company stated.

Tags: DealerSocket, DMS, FetchAQuote, Independent Dealerships

December 5, 2016 - Industry News

Rapid Recon Salutes 100 Years of NADA and Vehicle Reconditioning

By the time the NADA was founded in 1917, the sufficiency of units in operation meant a growing opportunity for used-vehicle sales. According to 1917 motor vehicle registrations, as compiled by the U.S. Bureau of Public Roads, nearly five million cars and trucks were registered. And by late 1916, creative rebuilders were putting old cars, now “reconditioned,” back on the road.

Tags: National Automobile Dealers Association, Rapid Recon, remarketing, used-vehicle sales, Used-Vehicles

November 29, 2016 - Industry News

Black Book: Used-Vehicle Depreciation Continues Slowdown

For the car segment, wholesale values decreased by 0.56% last week, an improvement over the 0.62% decrease the segment realized the week before. On the truck front, wholesale values decreased by 0.31%, less than the prior week’s depreciation rate of 0.59%.

Tags: Black Book, depreciation, used vehicles, Wholesale Pricing

November 17, 2016 - Industry News

NextGear Capital Presents Fourth Annual Auction Partners Awards

NextGear Capital presented its fourth annual Auction Partners Awards Wednesday at the Red Rock Casino and Resort in Las Vegas, the site of the 2016 National Automobile Auction Association (NAAA) Convention.

Tags: Auto Auctions, Awards, NextGear Capital

November 16, 2016 - Industry News

NADAUCG: Wholesale Depreciation Remains Steady in October

October’s 3.6% decline in wholesale prices for used vehicles eight years in age was in line with the NADA Used Car Guide’s forecasted range of 3.2% to 3.7%. However, the decline was slightly more than this October than the previous three-year average decline of 3.3% for the period.

Tags: NADA Used Car Guide, used-vehicle values, Wholesale Pricing, wholesale used average

November 16, 2016 - Industry News

Kontos: Wholesale Prices Up Year Over Year, Down From September

As has been the case for much of the year, average wholesale used-car prices were down on a year-over-year basis. In October, the average wholesale used-vehicle price fell by 1.2% compared to the year before. Trucks, on the other hand, continued to realize year-over-year increases in wholesale prices. Compared to last year, truck prices are up 5.1%.

Tags: ADESA, ADESA Analytical Services, Tom Kontos, used vehicles, Wholesale Pricing

November 16, 2016 - Industry News

LotPop Announces Release of LotScore

According to the company, the weekly report will score a dealer’s inventory in four key areas: status, marketing, inventory stocking, and inventory return on investment. The end goal, the company added, is to help drive more used-car sales at higher margins.

Tags: Dealer Inventory, LotPop, LotScore, used vehicles

November 15, 2016 - Industry News

ADESA Acquires Michigan's Flint Auto Auction

KAR Auction Services today announced it has acquired Flint Auto Auction, a whole car auction facility in Flint, Mich. It will now operate as ADESA Flint.

Tags: ADESA, Auto Auction, Kar Auction Services

November 14, 2016 - Industry News

ADESA Kansas City Gets New General Manager

ADESA has promoted Kevin Rhoads, a 15-year veteran of the automotive industry, to general manager of its Kansas City auction location, the company announced this week.

Tags: ADESA, Auto Auctions, General Manager, Hiring

November 14, 2016 - Industry News

KAR Launches New Enterprise Functions to 'Accelerate Innovation' for Wholesale Industry

KAR Auction Services Inc. announced the creation of new enterprise functions and leadership roles in product development, data analytics and strategy. The company has both promoted from within and recruited from outside sources to fill these new positions.

Tags: ADESA, Hiring, Kar Auction Services, Promotions

November 10, 2016 - Industry News

ACV Auctions' New Hire to Help Grow Mobile-Enabled Live Auctions

ACV Auctions named Michael Waterman vice president of sales. He will be charged with helping the company grow its mobile-enabled live auctions.

Tags: ACV Auctions, Auto Auctions, Mobile Applications, Vice President

November 10, 2016 - Industry News

FTC Approves Final Changes to Used Car Rule

The Federal Trade Commission announced last week final amendments to its Used Car Rule. It noted that its amended rule permits dealers to use their remaining stock of Buyers Guides for one year after the effective date of the amended rule.

Tags: Buyers Guide, FTC, Used Car Rule

November 9, 2016 - Industry News

Auto Balances Up 9% in Q3, TransUnion Reports

Total auto loan balances in the third quarter grew 9% from a year ago to $1.1 trillion, with subprime balances leading the way, TransUnion reported on Monday.

Tags: Auto Loan Originations, Auto Loans, Third Quarter, TransUnion

November 8, 2016 - Industry News

Black Book: Depreciation Slows for Cars and Trucks

Both the car and truck segments experienced an overall reduction in depreciation during the week of Oct. 28, with car and truck wholesale values decreasing by 0.53% and 0.58%, respectively, vs. 0.76% and 0.80% the previous week..

Tags: Black Book, depreciation, used vehicles, Wholesale Pricing

November 8, 2016 - Industry News

Wholesale Used-Vehicle Prices Decline in October, Manheim Reports

Wholesale used-vehicle prices declined 0.7% in October, according to Manheim. Non-seasonally adjusted prices declined 2%, with the Manheim Used Vehicle Value Index increasing 0.6% from a year ago to 126.0.

Tags: Manheim, Manheim Index, Manheim Used Vehicle Report, new-vehicle sales

November 4, 2016 - Industry News

Copart Announces Land Expansion, Activation Across Five States

Copart Inc. announced the activation of reserve land in Georgia and Virginia, in addition to the expansion of existing locations in the Carolinas and Florida. The land expansions and activations are connected to Hurricane Matthew, allowing the global online vehicle auction company's Catastrophe Response Team to provide even greater service in response to weather-related damage.

Tags: Auto Auctions, Copart

November 3, 2016 - Industry News

Black Book: Small Cars Falter, Small Pickups Prosper in October

The average price of a used vehicle for model years 2011-2015 depreciated 2.9% in October, a noticeable change from September's 2.3% depreciation rate, according to Black Book.

Tags: Black Book, Retention, used vehicles

November 2, 2016 - Industry News

ADESA Opens New Location In Chicago

ADESA has officially opened its new ADESA Chicago auto auction, a location that cost the company $40 million to develop, according to a company announcement.

Tags: ADESA, Chicago, Kar Auction Services, technology

November 1, 2016 - Industry News

Vehicle Depreciation Accelerates Heading Into Q4

A steep decline in Crossover/SUV wholesale values, which have been strong all year, may point to more than seasonality as the reason for the accelerated depreciation of two-year-old vehicles, Black Book said this week.

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

October 27, 2016 - Industry News

DRIVIN Wins Chicago Innovation Award

DRIVIN, which operates an online marketplace for dealers to sell, search and buy used inventory, was named one of the winners at the 15th annual Chicago Innovation Awards, the firm announced this week.

Tags: Awards, DRIVIN, Online Marketplace, used vehicles

October 25, 2016 - Industry News

Reynolds Makes Direct Equity Investment in The Appraisal Lane

The partnership involves the appointment of a credit facility for the acquisition and sale of vehicles. Reynolds and Reynolds' Robert Burnett, senior vice president of corporate development, and Trew Hiers, vice president of business development, were also added to The Appraisal Lane's board of directors.

Tags: Investment, Partnership, Reynolds & Reynolds, The Appraisal Lane, used vehicles

October 18, 2016 - Industry News

Black Book Records Largest Weekly YTD Decline in Car Values

Whether a seasonal trend or a sign of things to come, Black Book recorded the largest year-to-date weekly decline in car values last week. Trucks also recorded a sizable drop in values.

Tags: auto finance, Black Book, used vehicles, wholesale values

October 13, 2016 - Industry News

Kontos: Wholesale Values Flat in September

Particularly hard hit in September were mid-size cars, while the luxury car segment experienced a nice bounce in its average wholesale price, according to ADESA Chief Economist Tom Kontos. Mini-vans also experienced solid price growth during the month.

Tags: certified pre-owned vehicles, used-vehicle values, wholesale values