Dealers know “getting the deal bought” is a crucial part to turning inventory. With that factor in mind, Edmunds.com put together recommendations for when potential buyers should and should not grant F&I managers permission to run a credit check, since extraneous credit checks could put an unnecessary dent in a credit score. “Dealerships usually offer […] [Read More]

Showing a surge in activity to begin 2013, the latest RDN Monthly Analytics Update indicated January recovery volumes surged 14 percentage points higher than the December level. Furthermore, the January reading came in 8 percentage points higher than year-earlier levels. Adding to that upward movement, RDN indicated January recovery orders soared 24 percentage points higher […] [Read More]

Leasing has been on an upward trek the past few years, and it appears that uptick only continued in March. During the first few days of this month, lease penetration was sitting north of 27 percent, which represents more than a 5-percent year-over-year gain, according to CNW Research. Data from CNW and ADESA Analytical Services […] [Read More]

Primeritus Financial Services announced the sale of two of its subsidiaries on Wednesday. Officials confirmed that Primeritus sold Repossessions Unlimited operating in Florida and Extreme Recovery in California.    In the first transaction, Chris Fazio purchased Primeritus’ ownership in Repossessions Unlimited.  As sole owner of Repossessions Unlimited, officials said Fazio will continue to provide recovery services […] [Read More]

Secure Collateral Management announced the availability of same-day payment for its network of recovery agencies. SCM said it will begin paying repossession agents all fees on the same day they repossess the vehicle beginning on April 1 with no early payment fee being charged. “I feel it is about time skip companies and forwarders recognize […] [Read More]

Based on data Edmunds.com gave Auto Remarketing sister publication SubPrime Auto Finance News, there was a 363-basis-point differential between the state with the highest average APR and lowest for all transactions by franchised dealers reported to the site in February. Pacing the nation for this metric was Louisiana with an average APR of 6.19 percent […] [Read More]

Here’s a ratio that should make used-car managers smile about finding potential certified pre-owned inventory down the road. Experian Automotive said nearly one of every four new vehicles that left franchised dealer lots during the fourth quarter had a lease contract. To be exact, the leasing share of new-vehicle financing in Q4 increased to 24.79 […] [Read More]

The American Recovery Association enhanced its fifth annual North American Repossessors Summit by expanding to a three-day event to include a lender and recovery agent golf tournament, more networking opportunities and more speakers — all focused on the power of performance. Running from April 25—27, ARA is anticipating 600 professionals from the collateral recovery and […] [Read More]

Along with intending to seek an amendment to its credit agreement, KAR Auction Services announced the commencement of an underwritten offering of 13.0 million shares of its common stock by existing stockholder KAR Holdings II subject to market and other conditions. Officials explained as a part of Monday’s announcement that KAR Holdings II is controlled […] [Read More]

NextGear Capital hosted a ribbon-cutting ceremony Monday to usher in an addition to its corporate campus in Carmel, Ind. The company has expanded its campus with a new building designed to help it accommodate ongoing growth, it says. [Read More]