Westlake Announces 2011 Top Auctions
Westlake Financial Services named Norwalk Auto Auction as its overall 2011 Auction of the Year.
LOS ANGELES — Westlake Financial Services named Norwalk Auto Auction as its overall 2011 Auction of the Year.
“Norwalk Auto Auction is the little auction with big results. A two-lane sale just 15 miles from downtown Los Angeles, Norwalk produces high scores for sale and service standards on a consistent basis,” said Bill Walters, vice president of remarketing.
Westlake also recognized Manheim St. Pete (Florida) as their 2011 Top Service Auction. Dirk Grammel, Westlake regional auction rep, cited the company’s responsiveness and ability to meet operational challenges.
For the second consecutive year, Dealers Auto Auction of Idaho earned the honor as Top Loyalty Sale Auction, achieving a 64 percent penetration rate. Dealers Auto Auction of Idaho also was recognized as the 2011 Most Improved Auction.
“[Last year] was a record year for our remarketing department and they couldn’t have done it without the help of premier auctions such as Norwalk Auto Auction, Manheim St. Pete, and Dealers Auto Auction of Idaho,” Anderson said. “We look forward to continued support from our auction partners in 2012.”
More Auto Finance
Interest Rates Further Squeeze Auto Consumers
Last month’s hike and a potential second increase this month add to a growing list of inflation woes that could continue to dent overall car sales.
Read More →
Mind Your Process
Consistent steps taken in various aspects of the F&I office can make valuable differences over time, similar to an outline for a best-selling book.
Read More →
Top Five Credit Application Fraud Flags
Compliance audits regularly reveal bad habits that can lead to fraud charges and should have been stamped out decades ago.
Read More →
More Auto Loans for the Taking in August
Riskier categories were on the uptick for the month as lenders loosened access in several areas while balancing out the exposure in another, Cox Automotive reported.
Read More →
July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
Read More →
Dealer Lender Preferences Revealed
When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.
Read More →
Auto Refi Savings Surge
Consumers with 84-month auto loan terms who refinanced saved the most on monthly payments, according to a new report by auto refinancing provider Caribou.
Read More →
Subaru Enters Lending Business
The automaker follows other brands in adding captive financing in the U.S., and says the move will strengthen its position here.
Read More →
Positive Equity Reaches Record High
Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.
Read More →
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →