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Auto Financeby Gregory ArroyoMay 7, 2015

AmTrust to Acquire Wells Fargo’s Warranty Solutions

AmTrust announced last week that it has entered into a definite agreement to purchase Wells Fargo’s Warranty Solutions, which the bank acquired in October 2008 with its purchase of Wachovia Corp.

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Auto Financeby Gregory ArroyoMay 7, 2015

Group 1’s U.S. F&I Operations Achieves Record PVR Average

The international dealer group’s U.S. F&I operations grew its F&I per-copy average $80 from a year ago to a record $1,538. Training and execution were the drivers, officials said.

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F&Iby StaffMay 7, 2015

Used-Vehicle Depreciation Remains Unchanged in April

The average price of a used vehicle for model years 2009–2013 remained unchanged in April, according to data from Black Book.

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F&Iby StaffMay 7, 2015

Automotive Assurance Group Expands into Florida

Automotive Assurance Group, a Georgia-based company, has opened an office in Ponte Vedra Beach, Fla., in response to growing demand in the Southeastern United States.

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Sonic Delays Further Rollout of Hybrid Process

Sonic executives said that until the group perfects its vehicle-pricing tool, the One Sonic-One Experience initiative will not expand beyond the five stores currently employing the program's hybrid sales and F&I process.

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Auto Financeby StaffMay 7, 2015

Westlake ALPS Purchases $12.4 Million Bulk Portfolio

Advanced Lending & Portfolio Services, a division of Westlake Financial Services, has acquired a $12.4 million bulk portfolio from Blackhawk Financial.

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Auto Financeby StaffMay 6, 2015

AppOne Update Eases Compliance Burden for BHPH Dealers

Wolters Kluwer’s new update allows its AppOne platform to accommodate multiple payment frequencies, helping to further streamline the loan origination process for buy-here, pay-here dealers.

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Complianceby StaffMay 6, 2015

Most Dealers Unprepared for CFPB Regulations, eLEND Finds

In a recent survey, eLEND Solutions found that while 80% of dealers expect the CFPB to implement regulations that would replace dealer participation with mark-up thresholds or a flat-fee model, only 40% have plans in place to meet those requirements.

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Auto Financeby StaffMay 6, 2015

Swapalease.com Reports Volatile April Lease Credit Approvals

The lease approval rate jumped 31% from March to April, the highest since November 2014, Swapalease.com reports.

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Digitalby StaffMay 6, 2015

A1 Launches Selly Sales Platform

A1 Software Group announced the launch of a mobile-centric, social, lightweight sales platform called Selly Automotive.

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