In what could be considered encouraging signs on a number of fronts, J.D. Power and Associates discovered that May leasing levels moved higher both month-over-month and year-over-year. According to J.D. Power’s May Industry Health Review, May’s lease penetration settled at 20.9 percent, up 1.5 percent from the previous month and 9.4 percent from the same […] [Read More]

A zombie is a person whose behavior or responses are wooden, automated, lacking will or creativity. The definition of a zombie skip-tracer is the person in your office who logs on to their favorite data source and clicks just to click, robotically starting with the Holy Grail search of the Social Security Number. It seems […] [Read More]

Securities & Exchange Commission paperwork not only divulged AutoTrader Group’s intentions to become a publicly traded company, the necessary filing revealed what the newly formed entity that includes AutoTrader.com, Kelley Blue Book, vAuto and VinSolutions intends to do with proceeds from the selling of shares. Company executives are looking to generate $300 million through a […] [Read More]

Previously unavailable, AutoTrader Group’s financial performance as well as the size of its subscribing dealer network came to light as the company filed federal paperwork to become a publicly traded company. According to forms submitted to the Securities & Exchange Commission, AutoTrader generated $1.0 billion in revenues, $334.6 million of adjusted EBITDA and $68.1 million […] [Read More]

Primeritus Financial Services announced Monday that it has acquired The M. Davis Co., Inc., which is the California-based company that includes USA Recovery and Skip Masters. Explaining more about The M. Davis Co., officials noted that the company — located in El Dorado Hills, Calif. — is a full-service firm that offers national repossession management, […] [Read More]

Dealers who use AutoTrader.com to push their vehicles online now can choose to own a piece of the operation as the site is on its way to becoming a publicly traded company. AutoTrader Group — a newly formed entity that includes AutoTrader.com, Kelley Blue Book, vAuto and VinSolutions — filed paperwork with the Securities & […] [Read More]

It was announced Thursday that AutoTrader.com has chosen a preferred direct lender for the site, one that the company contends will  provide shoppers interested in a direct lending option with “a seamless way to access financing.” Tapped for the role is online auto lender RoadLoans.com —  owned by automotive finance company Santander Consumer USA Inc. [Read More]

Five federal supervisory agencies recently released a Memorandum of Understanding aimed at clarifying how the agencies will coordinate their supervisory activities consistent with the Dodd-Frank Wall Street Reform and Consumer Protection Act. The five agencies joining forces for this MOU included the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, […] [Read More]

The National Independent Automobile Dealers Association has revealed that Automotive Finance Corp. became the association’s newest National Member Benefit partner. Officials highlighted that AFC is one of the largest providers of floor plan financing to independent dealers in North America and the only commercial auto finance company named as a NIADA National Member Benefit partner. […] [Read More]

Along with a recap of the first meeting of the OpenLane Recovery Remarketing Advisory Board, OpenLane shared some advice for when a repossessed vehicle has a dead battery. When third-party inspectors arrive at a repo agent’s lot and discover recovered vehicles with dead batteries, OpenLane pointed out they may not be able to capture the […] [Read More]