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A provision in the act will grant dealers an additional $8,000 in first year-depreciation for certain business vehicles purchased in 2015. However, to use the provision in 2015, dealers must purchase qualifying vehicles before Dec. 31, 2015. The additional $8,000 continues into 2016 and 2017 but will be gradually phased out starting in 2018, according to the NADA.
Read More →RouteOne and Chrysler Capital/Santander Consumer USA announced today that they will begin rolling out econtracting to Chrysler dealers toward the end of the first quarter 2016.
Read More →The CFPB charged the buy-here, pay-here dealer and its affiliated finance company, Universal Acceptance Corp., with providing inaccurate information to credit reporting agencies for more than 84,000 consumer accounts between January 2009 and September 2013.
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The Federal Reserve voted unanimously today to increase its target funds rate by a modest quarter point. One market research firm believes that could cut into sales by 150,000 units.
Read More →The winning team's mobile app, dubbed Watchdog, provides consumers with a convenient way to stay current with their vehicle maintenance, prevent theft and recover their vehicle.
Read More →The online startup looking to reinvent how cars are bought and sold has agreed to purchase the pioneer of selling vehicles online. According to officials, the two brands will co-exist and continue to operate online separately.
Read More →Based on new-vehicle registration data collected by Experian Automotive, industry sales have returned to prerecession levels. Crossover utility vehicles and the state of California have led the way, accounting for 23.9% and 11.8% of all new-vehicle registrations, respectively.
Read More →Dealers who use both Auto/Mate and CRMSuite will benefit from the increased business intelligence the DMS and CRM deliver through real-time data exchanges.
Read More →TransUnion expects the average auto loan debt per borrower to increase to $18,509 by the end of 2016, a more than $3,500 increase since the Great Recession. The firm noted, however, that subprime auto loans still make up less than the 23.7% share recorded in the third quarter 2009.
Read More →Billed as a down payment for building a 21st century transportation system, the recently passed Fixing America’s Surface Transportation Act, or Fast Act, contains a provision that clears a key hurdle in the industry’s drive toward a fully digital transaction.
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