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NIADA: Cost of Doing Business Up, Finance Availability Down

NIADA: Cost of Doing Business Up, Finance Availability Down

The association’s first quarter business confidence survey reveals subdued expectations for sales and economic growth among independent dealers. One factor muting optimism is finance source availability and tighter credit guidelines.

May 8, 2018

Lexus to Offer ‘Subscription-Type Plan’ With New Compact SUV
eLEND Adds Auto Finance Veterans to Sales Team

eLEND Adds Auto Finance Veterans to Sales Team

Automotive finance veterans Joe Peterson and Flory Hunsaker join the tech firm as chief sales officer and regional sales director, respectively. They bring decades of sales success to eLEND as it prepares for the launch of its next-generation finance platform.

March 7, 2018

TD Auto Finance Joins AutoGravity Network

TD Auto Finance Joins AutoGravity Network

Through the newly forged partnership, indirect financing offers through TD Auto Finance will be made available to qualified buyers using AutoGravity’s digital retail platform.

March 6, 2018

Clarivoy Appoints Jessica Ruth to VP Role

NextGear Enhances Account Management Platform

The floorplan financing provider has updated its Account Portal management platform with a new feature that allows dealers to opt into a recurring and automated payment system.

February 27, 2018

Blinker Adds Ally’s F&I Protections, Expands Into Florida and California

Blinker Adds Ally’s F&I Protections, Expands Into Florida and California

Blinker was founded in 2016 by a team of industry veterans from US Bank, CarMax, GM Financial, and Cox Automotive. With this week’s announcements, the startup is quickly gearing up to take on private-party marketplaces like Craigslist, Letgo, Autotrader, Cars.com and Facebook Marketplace.

February 20, 2018

TagRail Launches Digital Retail Platform

TagRail Launches Digital Retail Platform

Add TagRail to the growing list of companies offering a digital retail platform. The company’s online car-buying tool is designed to close more online shoppers through a frictionless online transition from their living room to the showroom.

January 18, 2018

Subprime Originations Hit Record Low in Q3

Subprime financing fell to its lowest point since 2012, while prime grabbed the lion’s share of the auto finance space in the third quarter. Even the used-vehicle market has gone prime, with buyers outside of prime accounting for just a third of the market.

December 7, 2017

Edmunds: 100,000-Mile Cars More Valuable Than Shoppers Think
AutoGravity’s Car-Buying Platform Surpasses 1 Million Users

AutoGravity’s Car-Buying Platform Surpasses 1 Million Users

Launched in 2016, AutoGravity rapidly expanded from 100,000 users in its first six months to more than one million users less than a year later, according to officials. In 2017 alone, car shoppers have request more than $1 billion in vehicle financing through the fintech firm’s car-buying app.

November 14, 2017

CFPB: Longer-Term Loans Not Having Desired Effect for Borrowers, Finance Sources

Fastlane Chooses Market Scan as Data Partner

Fastlane offers dealers an Amazon-like checkout process for consumers who want to buy their car online. It has chosen Market Scan to provide its ecommerce platform with real-time payment and rebate information from every car manufacturer, bank and credit union in the country.

October 11, 2017