Bank of America is enhancing its mobile offerings in an effort to boost originations with its participating dealerships. On Monday, bank officials highlighted that they launched new capabilities for mobile clients to complete the auto financing process with the company while searching for a vehicle from dealerships within the bank’s network. Plus, customers can complete […] [Read More]

The wave of off-lease vehicles volume is at its “high tide,” according to Scotiabank, which says lease return numbers — and their subsequent impact to used-car prices — should begin to calm down. The peak in leasing growth was in 2013-14, the company said in its latest Global Auto Report. Lease penetration rates grew at […] [Read More]

To help dealers generate interest in F&I protection, RoadVantage said it has released a new series of free point-of-sale product videos which inform customers about F&I protection when they purchase a vehicle. Like an audiovisual product brochure, the videos are short and product-specific, according to the company. The series focuses on the benefits of specific products, […] [Read More]

As American Recovery Service (ARS) and Digital Recognition Network (DRN) highlighted the fruits of its ongoing partnership, DigitalDog Auto Recovery recently announced Jason Stephens has rejoined the California repossession, locksmithing and transportation firm to further develop their growing footprint in the California repossession market, as well as exploring growth into other states. Stephens comes with a […] [Read More]

Along with some insight regarding behavior of new college graduates, Swapalease.com on Monday reported credit applicants for vehicle lease transfers dropped in April on both a sequential and year-over-year basis. However, the downward movements didn’t surprise site officials. The site indicated applications coming into its pipeline registered only a 60.0 percent approval rate for April, […] [Read More]

For auto finance providers still unsure about the value of its vehicle location data, Digital Recognition Network (DRN) highlighted the experience of just a single client — Philadelphia Federal Credit Union (PFCU). PFCU is an early adopter of DRN’s enterprise subscription for auto finance, DRNsights. Here is a breakdown of what happened to this credit […] [Read More]

Asbury Automotive Group named its new chief financial officer late Friday afternoon. Chosen for the role of senior vice president and CFO is Sean Goodman, who comes to Asbury from Unifi, a company in the textile industry. He will join Asbury on July 5, replacing Keith Style, who was set to step down on March […] [Read More]

On Wednesday, CRIF Lending Solutions announced a partnership to integrate Carvana’s online automotive retail platform with its ACTion and SAIL loan origination systems. CRIF said its new collaborative effort aims to help financial institutions effectively reach pre-approved customers or members for direct auto loans.  “Integrating our platforms with partners like CRIF Lending Solutions provides consumers […] [Read More]

Wise F&I recently announced that it is expanding its vehicle service contract programs and has developed WiseMVP, a pre-owned motor vehicle service contract that provides coverage for vehicles that are up to 20 years old and that have up to 200,000 miles. The company said its new plan allows consumers who purchase an older vehicle […] [Read More]

Like many organizations, FICO indicated Toyota Financial Services was looking for ways to achieve better outcomes from its collections efforts. At the same time, FICO acknowledged it was critically important for the captive to demonstrate to its customers that the company values the relationship. They sought to help customers avoid repossession or credit impacts due […] [Read More]