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A Michigan dealer was arrested Dec. 3 after authorities checked several vehicles on his lot and discovered mileage discrepancies. Police said it appeared the dealer had installed used, low-mileage odometers in high-mileage cars.
Read More →According to the latest report from Experian Automotive, interest rates for auto loans fell to an all-time low in the third quarter, while the average amount financed reached its highest level since 2008.
Read More →General Motors is said to be set to sell its stake in Ally Financial, which is majority owned by U.S. taxpayers, Bloomberg reports.
Read More →The integration will allows Auto/Mate’s DMS to share information across AutoLoop’s full suite of services, allowing for real-time, bi-directional data delivery
Read More →According to TransUnion, the auto loan delinquency rate increased to 1.04 percent in the third quarter. However, the delinquency rate is still well below the third quarter average observed between 2007 and 2013.
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A consumer advocacy group has filed a new ballot initiative with the California attorney general’s office. Part of the initiative aims to eliminate dealer markups, something California New Car Dealer Association President Brian Maas says would harm consumers.
Read More →CarFinance Capital finalized its $304 million asset-backed securitization in a transaction that closed in late October.
Read More →New-vehicle cash incentives reduce the price of used vehicles significantly more than finance and lease incentives, the NADA finds.
Read More →At the FTC’s request, a Canadian telemarketer was ordered by the court to pay more than $5.1 million to victims of a car-buying scam committed on sites like eBay and Craigslist.
Read More →Longtime California dealer Joe Boccalero passed away on Nov. 27 at the age of 92. He served as the former president of Domenich Basso Inc. and operated a Chrysler Jeep dealership in Los Angeles for 40 years.
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