The 2014 CLA isn’t just giving Mercedes-Benz what appears so far to be greater footing in the entry-luxury segment; this new model is quickly becoming a residual value leader for the automaker, says Kelley Blue Book. Based on the January/February 2014 Kelley Blue Book Residual Value Guide, the 36-month residual value for the CLA-Class is […] [Read More]

During the last quarter of 2013, employees of Primeritus Financial Services stayed busy campaigning for destitute families needing food with their collections on behalf of Feeding America Second Harvest Food Bank, and giving special wishes to children with a life-threatening illness through donations to A Special Wish Foundation. Primeritus chief executive officer Chuck Tapp highlighted […] [Read More]

National Auto Care Corp. — the administrator of the CarMark Certified program  — and Family First Dealer Services announced Friday the promotion of a key employee to the role of vice president of sales for the company. (As reported by Auto Remarketing here, NAC and FFDS completed their merger in November and now serve as […] [Read More]

Cox Enterprises has purchased Providence Equity Partners’ 25-percent equity interest in AutoTrader Group, meaning it now has 98-percent ownership in the group that includes such entities as AutoTrader.com, Kelley Blue Book and vAuto. The definitive agreement was announced this morning. The remaining 2 percent of the AutoTrader Group is held by current and former employees. […] [Read More]

Carfinco announced this week it has decided not to provide the highest purchase price in its bid to acquire new equity ownership of Western Funding Inc. and Global Track GPS LLC.   On Nov. 1, Carfinco had previously announced that it had become the "stalking horse bidder" and proposed plan sponsor for the companies, each […] [Read More]

With potential impact from student loan debt swirling in the background, Swapalease.com reported lease credit approvals dipped slightly in November compared with October levels. The year-to-date approvals for customer credit finished November at 72.6 percent, compared with October levels of 72.8 percent. During the last three months, the lease credit approval rating has slipped to […] [Read More]

Repo Remarketing began to close out its calendar year by examining its certified remarketing results, looking to validate sales prices and the net return on investment for certified units versus non-certified units.  The company found that Repo Remarketing’s lenders realized 4.9 percent more money for the certified units over the test group. Management emphasized the […] [Read More]

As charge-off amounts ticked up across the board, Experian Automotive found that repossession rates moved higher during the third quarter, triggered by a dramatic spike for finance companies. According to its latest State of the Automotive Finance Market report, Experian indicated the overall Q3 repo rate came in at 0.62 percent, a level 54.4 percent […] [Read More]

On Monday, NextGear Capital released what the company described as new mobile and online account management applications for customers designed to radically simplify management of their inventory finance accounts. NextGear Capital highlighted that the applications include new features and a dynamic new dashboard that is designed to be easy to navigate and provide rapid access […] [Read More]

This week, Primeritus Financial Services bolstered its management team by adding two industry leaders who previously held leadership roles at OPENLANE and ADESA. Joining Primeritus as vice president of sales and services is Ben Murdock, who most recently served as executive director of sales and services at OPENLANE and held several senior positions during his […] [Read More]