Ally Financial announced today that ClearGuard, which provides protection coverage of up to $2,500, is now standard on all eligible vehicles dealers sell via its online wholesale vehicle auction platform SmartAuction. This news comes on the heels of this week's National Remarketing Conference, presented by SmartAuction, and part of Used Car Week.  Almost all dealer-owned vehicles with a sticker price […] [Read More]

Differences in the execution of the digital application process has contributed to a significant performance gap between top and bottom performing lenders, says J.D. Power’s latest U.S. Consumer Financing Satisfaction Study. The study measures overall customer satisfaction in the following categories: billing and payment process; onboarding process; phone contact; and website. When it comes to the […] [Read More]

With apologies to Elon Musk, Google’s self-driving car initiative and even the rumored Apple car, Silicon Valley isn’t going to outperform Ford, GM, or Toyota on the assembly line. Mass producing cars just isn’t a core competency of Silicon Valley. What Silicon Valley excels at is disrupting analog distribution models and replacing them with streamlined digital […] [Read More]

Ally Financial said Tuesday it is increasing the amount it is providing Carvana to finance retail contracts by $1.4 billion. Back in January, Ally had initially committed to provide $600 million for retail financing for the online car-buying platform; over the next 12 months, that figure will increase to $2 billion. With the agreement, Ally […] [Read More]

It’s the decision consumers who acquire a new vehicle must make in order to have a payment that fits their budget. Stretch the traditional installment contract out to nearly 72 months or take on a lease for about half of that time. Perhaps what’s good news for dealership customers and their used-car managers, Swapalease.com reiterated […] [Read More]

GM Financial announced Monday that it has chosen the Ronald McDonald House at Boston to receive a vehicle as apart of its Cool Cars for Remarkable Kids program. The Ronald McDonald House at Boston Harbor is the 18th Ronald McDonald House to receive a vehicle since the program launched earlier this year. This month, GM Financial also […] [Read More]

The auto lease credit approval rate in September registered the lowest percentage seen this year, according to data from Swapalease.com. The approval rate fell to 47.6 percent following a relatively strong August, when the rate was 68.3 percent, according to Swapalease. Hurricanes Harvey and Irma have likely contributed to September's notably low rate. Last month, Swapalease.com saw […] [Read More]

We circle back to one of the most difficult challenges of the automotive business — repossessions — for the latest episode of the Auto Remarketing Podcast. Nick is joined by Cort DeHart, who is the corporate strategy manager with MBSi Corp. The conversation touches on how complicated repos can be and how the industry is […] [Read More]

AutoGravity has added another finance company to its online auto financing platform. Thanks to the partnership with Global Lending Services announced Tuesday, AutoGravity will have another lending option to offer its customers. Global Lending Services, meanwhile, will be able to utilize the AutoGravity platform to reach more potential customers digitally. “Every month, over 100,000 new […] [Read More]

Online car leasing marketplace Honcker closed a seed financing round of $3.6 million on Thursday, and said it will now provide delivery to customers in eight states. Honcker plans to use the round, which was led by Evolution Corporate Advisors, to grow its dealership network, geographic footprint and customer base. Additionally, Honcker will use the […] [Read More]