In December, First Business Bank announced a new agreement to offer floorplan financing to independent dealerships through ACV Auctions. On Tuesday, the bank made a similar move; this time unveiling a new arrangement allowing First Business Bank’s floorplan financing clients to finance their vehicle inventory purchases from SmartAuction. First Business Bank is enthused about this […] [Read More]

Fitch Ratings cited multiple data points from the National Automobile Dealers Association  in explaining its reasons to state that dealer floorplan asset-backed securities (ABS) performance is expected to be stable in 2021. Along with the strong profit metrics noted by NADA, Fitch said its dealer floorplan ABS asset performance and rating outlooks are stable for […] [Read More]

Saying that cryptocurrency is becoming accepted into the mainstream as a viable form of payment, eAutoLease will soon will accept cryptocurrency as payment for leasing and online auto sales. eAutoLease, which serves customers in New York, New Jersey, Connecticut and Pennsylvania, said U.S. luxury car dealerships have begun accepting various forms of cryptocurrency over the […] [Read More]

Among the many intriguing findings from the Swapalease Q4 Lease Report, not only are consumers becoming more interested in leasing a Tesla, they appeared to be driving more in general judging by the softening amount of mileage left on a lease contract up for a takeover. Analysts determined consumer searches for Tesla vehicles on the […] [Read More]

F&I company JM&A Group has designed a virtual inspection process in which its analysts can use video technology when working with repair shops to conduct visual inspections. With that process, called Inspect Now, its analysts can verify claims that would otherwise require in-person inspections. The analysts can approve the start of the repair more quickly. JM&A […] [Read More]

As the new year begins, the new norms inherent in conducting business during the COVID-19 pandemic continue. The adjustments to these new norms affect everyone personally and professionally, which has in some ways brought forth an opportunity to connect at a more authentic level than ever before. Consider this: every Zoom call brings you into […] [Read More]

Georg Bauer and Scott Painter, who worked together at Fair, have reunited at NextCar Holding Co. They're also back on the Auto Remarketing Podcast, where they discuss the genesis of their company, which aims to help vehicle subscriptions scale profitably, and much more.  To listen to this episode with Bauer and Painter, click on the link available […] [Read More]

Jantoon Reigersman has been appointed chief financial officer for TrueCar, with the company’s president and chief executive officer Mike Darrow saying Reigersman will help align the company’s business and financial strategies toward TrueCar's next chapter of growth and profitability. Reigersman said he looked forward to joining TrueCar during what he described as a pivotal time […] [Read More]

Automotive F&I products provider and administrator APCO Holdings announced initiatives to improve diversity and equity within the company, including the formation of a diversity and inclusion council that has launched new inclusion and unconscious bias training courses required for all employees. APCO said the company plans to continue building a stronger culture of inclusion. “As […] [Read More]

The approval rate at Swapalease.com closed 2020 on a high note, prompting an “optimistic” outlook for this year. Site officials reported on Tuesday that the approval rate for applicants looking to take over a vehicle lease came in at the highest rate of the year in December, registering in at 72.7%. That reading to round […] [Read More]