While at least in some places of the country the weather is improving, over at Swapalease.com, site officials are noticing an enhancement to lease-transfer approvals, too. According to an update shared on Tuesday, Swapalease.com reported vehicle lease credit applicants registered a 67.3 percent approval rate in March, a rise from the February rate of 65.2 […] [Read More]

Before dealer principals and store managers brush aside the issue by stating something like, “I’m a car guy, not an accountant,” NADA Academy instructor Eric Dreisbach shared eight potential pitfalls of a financial practice many dealerships might use — work-in-process (WIP) accounting. In a blog post setting up his foundational concerns, Dreisbach explained that officially […] [Read More]

Dealers who purchase vehicles through non-auction channels can now save time during the funding process with the help of a new feature NextGear Capital has added to its Account Portal platform. Once notice of title is given, the new feature called Rapid Pay allows eligible dealers to initiate financing on vehicles purchased from wholesalers, customer […] [Read More]

While compact cars continue to have the most affordable monthly lease payment, Wantalease.com is noticing that actions by automakers to keep trucks and SUVs attractive are spilling over into trends on its site. Wantalease.com reported that the Nissan Sentra is currently priced the lowest of all vehicles, coming in at just $109 per month for […] [Read More]

Some of the world’s leading experts in artificial intelligence (AI), applied analytics and decision management will gather in Miami Beach, Fla., later this month for FICO World 2018. Silicon Valley analytic software firm FICO highlighted that Sebastian Thrun, chief executive officer of Kitty Hawk Corp., and co-founder and president of Udacity, as well as chess grandmaster […] [Read More]

Darwin Automotive announced Monday that ELEAD1ONE will integrate Darwin's F&I software with both its DealBuilder Showroom and DealBuilder Online solutions. Salespeople can use ELEAD1ONE's DealBuilder Showroom to manage the test drive process and map routes. Along with providing customers with turn-by-turn directions, the solution can also track distances, route information and average speed for dealerships. Meanwhile, the DealBuilder solution is designed to calculate vehicle […] [Read More]

NextGear Capital introduced this week it's new Rapid Pay tool — a feature built to streamline and speed up funding within its Account Portal platform. This follows the company’s recent February announcement regarding the release of Account Portal’s AutoPay feature. Rapid Pay is designed to simplify the funding process for eligible dealers who want to floor plan […] [Read More]

Fraud is very much on the minds of finance companies nowadays. And for good reason, as LexisNexis Risk Solutions put a figure on how much fraud added to finance companies’ operational costs. According to the study titled, “2017 True Cost of Fraud for Financial Services," LexisNexis Risk Solutions found that for every dollar of fraud, financial […] [Read More]

Editor's Note: Story and headline updated for clarity and to correct timing of Experian's purchase of Clarity Services. Experian has rolled out its first innovation stemming from its purchase of Clarity in October.   This past fall, two of the traditional credit bureaus each acquired a different specialist in alternative consumer credit data. And now one of those […] [Read More]

Lee Cookman, director in the fraud and identity solutions department at TransUnion, described how auto finance providers are having an “awakening.” It’s one likely more jolting than that 4 a.m. wakeup call in order to catch the first flight of the day. The startling alarm Cookman and TransUnion found blaring is the spike in auto […] [Read More]