The first significant penalty from the Consumer Financial Protection Bureau in connection with vehicle financing came Thursday — a development associated with approximately $6.5 million in revenue for two companies. The CFPB ordered U.S. Bank and one of its nonbank partner companies, Dealers’ Financial Services, to end what it called deceptive marketing and lending practices […] [Read More]

There’s an interesting dynamic that’s occurring when consumers go about trying to figure out what car to buy. Both used- and new-car shoppers are spending less time conducting research, but are devoting more of that time to the Web, according to a study released today by AutoTrader.com. Interestingly enough, those two trends go hand-in-hand. [Read More]

Nearly simultaneously as the director of the Consumer Financial Protection Bureau reportedly responded to a series of policy questions from the House Democrats, lawmakers from the other side of the aisle fired a list of inquiries about how the agency intends to regulate auto lending. [Read More]

Paul Potratz defined process as the series of steps or actions to achieve an end. And what’s the process at most dealerships? Turning vehicles fast for as much gross profit as possible. In order to refine the process to get those results, the chief operating officer and founder of Potratz Partners Advertising shared advice in […] [Read More]

Not only are used-vehicle sales going up, but more of them are being financed, as well. Take this statistical comparison from CNW Research: In each of the first five months of 2013, more than half of the used-vehicle sales for that particular month included financing of some sort (whether loan or lease). Last year, there […] [Read More]

As spring showed price strength in the truck segments while wholesale prices for cars fell by leaps and bounds,  you have to wonder — why are truck prices proving so much stronger in the lanes? On top of increasing construction rates and housing development, Black Book’s Ricky Beggs highlighted another factor that may be playing […] [Read More]

NextGear Capital formed a partnership with AuctionACCESS on Tuesday, resulting in auctions having the capability to show dealers updated credit availability before they enter the lanes, both physical and online. Officials also highlighted this automated system can allow auctions to quickly and efficiently originate floor plan transactions for their dealer customers. NextGear Capital chief information […] [Read More]

Some of the May metrics included in the latest RDN Monthly Analytics Update reversed course from the downward movement reported a month earlier. Analysts indicated May recovery volumes ticked up 2 percentage points versus the April level. Looking year-over-year, the May volumes figure moved 7 percentage points higher than the year-earlier mark. However, RDN still […] [Read More]

Following the completion of a four-market pilot program, nationwide repossession and skip-tracing firm American Recovery Service selected Recovery Industry Services Co. as its partner to perform compliance inspections for the entire ARS collateral recovery agent network. ARS highlighted that RISC performed in-depth inspections on agents in Miami, Phoenix, Dallas, and Houston. Inspections are currently being […] [Read More]

Though retail interest in trucks continues to rise with growth in construction and housing development, auction prices for these vehicles took a downward turn last week after showing price strength through much of the spring. Black Book’s Ricky Beggs explained that all 14 truck segments experienced price declines last week, with the smallest decline being […] [Read More]