Though many dealers are preparing for new models to hit the lot, manufacturers, interestingly enough, didn’t turn to heavy incentives to push new sales this past month. Although automakers and dealers were most likely pulling out all the stops for Labor Day sales, incentive spending in August was projected to be down 6.2 percent, or $179, from […] [Read More]

Preferred Warranties Inc. announced today the hiring of Thomas Wooditch, who joins the company to take on the role of director of training and development. Brian Cosgrove, the vice president of marketing and sales at Preferred Warranties, says Wooditch will bring a new level of service to his company’s roster. “Tom’s expertise will be a […] [Read More]

Consolidated Asset Recovery Systems (CARS) — which will present the winner of this year’s Re3 Executive of the Year at Used Car Week — has been recognized for the third year in a row as one of the 5,000 fastest growing private companies, according to INC Magazine. CARS’ listing among this group of companies indicated […] [Read More]

What some repossession and recovery observers probably figured was coming with more auto paper being written than ever before has come about. Repo rates are on the rise — and by a significant level. According to its latest State of the Automotive Finance Market report, Experian Automotive indicated the overall automotive repossession rate spiked more […] [Read More]

Leasing has picked back up to pre-recession highs, and many analysts are predicting leasing penetration to exceed levels seen before the Great Recession. And as manufacturers reveal their Labor Day lease deals, leasing popularity isn’t expected to slow down anytime soon. In fact, Scot Hall, executive vice president of Wantalease.com, said he expects leasing to […] [Read More]

With leasing continuing to gain momentum, CNW Research compared the contract residual value projection with the likely actual value at the end of term. In the August Retail Automotive Summary, firm analysts found that last month’s industry average settled at 85.88 percent — a figure representing the difference between the actual contract and the eventual […] [Read More]

BillingTree is hosting a new series of interactive events titled, “Payment & Technology Spotlight Series — Technology and Innovation for the Digital Age.” The series, which includes monthly webinars, conferences and speaking engagements, is design to allow participants to learn from actual experiences by those who have successfully implemented specific payment and collection technologies or […] [Read More]

Add this year’s National Remarketing Conference to the list of major industry events where discussion about the impact created by the Consumer Financial Protection Bureau is on tap. Wait a minute. You might be thinking the hallmarks of the NRC are connected with wholesale channels — vehicles moving from commercial consignors such as automakers and […] [Read More]

Car prices are on the way up, but there’s one problem. Income isn’t following the same path. Requisite Press LLC — after releasing its new Auto Buyer’s Affordability Index (ABAI) earlier this summer — recently reported car prices have outpaced incomes since the recession. The July 2014 ABAI reading of 53.5 indicates that median-income family […] [Read More]

Millennium Capital and Recovery Corp. recently achieved the SSAE 16, AT101 Service Organization Controls (SOC) 2 report representing the third consecutive year in which the recovery management service provider attained this coveted certification as recognized by the American Institute of Certified Public Accountants (AICPA).  Executives highlighted a SOC 2 examination is widely recognized because it […] [Read More]