With dealers turning to their mobile devices for VIN information, values, vehicle history reports and online auctions, why not use these gadgets for financing, as well? At least that is likely the thinking behind BMW Financial Services new partnership with AutoNation. The two have teamed up to pilot a new program that allows dealers to […] [Read More]

The brand-new Re3 Conference — Recovery, Repossession and Remarketing — will kick off on the morning of Nov. 16 with an overview of the recovery and repossession industry featuring key players sharing their perspectives on the industry and its future. The conference’s first session is titled "The State of the Industry: Perspectives on technology, strategy […] [Read More]

The Federal Trade Commission recently finalized a policy statement clarifying that the agency will not take enforcement action under the Fair Debt Collection Practices Act or the FTC Act against companies that are attempting to collect the debts of deceased consumers. Officials said the decision is effective only if collection companies communicate with someone who […] [Read More]

With more and more consumers seeing used-vehicle purchases as smart, cost-conscious choices and then holding onto these models longer than ever, mechanical coverage has become an even stronger selling point for dealers. Auto Remarketing recently reached out to a variety of service contract and warranty companies throughout the country, recognizing that especially in the face […] [Read More]

Though he has been in retirement for more than two years after an extensive career in the auto finance field, well-known SmartAuction developer and former GMAC executive Bill McIver now has a new duty: serving as a board member for Dealer Services Corp. of Indiana. [Read More]

Avis Budget Group revealed late last week that its Avis Budget Rental Car Funding subsidiary completed an offering of $650 million of asset-backed bonds with a weighted average interest rate of 3.5 percent. Officials said the proceeds of the offering are expected to be used to refinance ABS debt maturing in 2012. The debt has […] [Read More]

Dealer.com revealed Thursday that venture capital and growth equity firm Accel Partners — which invested early in the game in Facebook, Groupon and Rovio/Angry — has now invested in the Vermont-based online auto marketing provider. Accel now has a minority ownership stake in Dealer.com, and partner Todd MacLean is set to come aboard Dealer.com’s board […] [Read More]

As part of a broad range of new services launched at the beginning of last month, Ritchie Bros. Financial Services tapped its financing provider for operations in the United States — going with Direct Capital. RBFS commenced operations on July 1 and is partnering with leading equipment finance providers in an attempt to bring fast, […] [Read More]

In a special interview with Auto Remarketing Tuesday, TrueCar’s chief executive officer revealed that Raj Sundaram will continue on with Automotive Lease Guide for at least two years as an advisor to ensure a smooth ownership transition and help maintain the guidebook’s independence. Scott Painter explained that ALG will continue running as it has in […] [Read More]

DealerTrack announced late Monday that it is selling ALG to TrueCar. As part of the deal, DealerTrack will continue to have access to certain ALG intellectual property or data in its products and services, with a perpetual, royalty free license. Interestingly, management of both companies describe the transaction as a tax-free reorganization. For the sale […] [Read More]