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April 3, 2017 - Industry News

NAE/NWAN Launches Motorcycle Warranty Forever

Motorcycle Warranty Forever offers lifetime coverage for motors and transmissions with no cost, deductible or expiration.

Tags: National Automotive Experts, vehicle service contract

April 3, 2017 - Industry News

Ally Rolls Out Online Auto Finance Marketplace

Clearlane allows consumers to finance a vehicle purchase from a dealership or a private party sale, refinance their existing loan, or buy their vehicle at lease end. The site also sells GAP and service contracts.

Tags: Ally, auto finance, digital retailing, online F&I

April 3, 2017 - Industry News

AutoGravity Surpasses 1,000-Dealer Mark

AutoGravity’s mobile car shopping and financing platform has grown to included 1,000 rooftops representing more than 1,400 dealerships.

Tags: auto finance, AutoGravity, digital retailing, online F&I

March 30, 2017 - Industry News

Tom Webb to Retire as Cox Automotive's Chief Economist

Tom Webb will retire on June 30, ending a more than four-decade career. Cox Automotive officials said a replacement will be named in the coming weeks.

Tags: Cox Automotive, Manheim, Manheim Index, Manheim Used Vehicle Report, NADA, used-vehicle values

March 30, 2017 - Industry News

Laura Schupbach to Lead Wells Fargo Dealer Services

The 20-year company veteran previously led the Wells Fargo Insurance business. She succeeds Dawn Martin Harp, who announced her retirement on Jan. 10.

March 30, 2017 - Industry News

Alpha Warranty Teams With Agent, Dealer to Help Struggling Family

A letter written by a West Philadelphia teen about her family’s struggles to care for her sister, who suffers from multiple medical issues, prompts the F&I product provider, its agent and dealer to donate transportation and more.

Tags: Alpha Warranty Services, charity giving, vehicle service contract

March 29, 2017 - Industry News

Santander Agrees to $26 Million Settlement

Santander Consumer USA will pay $26 million to settle charges brought by the attorneys general of Delaware and Massachusetts.

March 29, 2017 - Industry News

MUSA Auto Finance Secures Funding Capacity of $175 Million

The special finance company, which counts the cofounder and former COO of Exeter Finance in its executive ranks, will use the funding to launch a new and pre-owned auto leasing program this year.

Tags: auto finance, leasing, MUSA, special finance, Used Leasing

March 29, 2017 - Industry News

March Madness: Four Brands Get TV Boost

Autotrader and Dealer.com websites recorded increases in search share for Acura, Alfa Romeo, Buick and Infiniti, each of which ran national ads during the first weekend of the NCAA men’s basketball tournament.

Tags: advertising, Autotrader, Cox Automotive, Dealer.com, digital marketing

March 28, 2017 - Industry News

Spireon Promotes Connected Car Veteran to SVP of Sales

Reggie Ponsford was promoted to help drive further growth for the telematics solutions provider in the buy-here, pay-here, automotive retail, rental automotive, powersports and auto finance markets.

Tags: Connected Vehicle, F&I manager, F&I products, Spireon, telematics

March 28, 2017 - Industry News

automotiveMastermind Appoints Two New Execs

Scott McKenzie and Fred Mather have joined the executive team at automotiveMastermind.

March 28, 2017 - Industry News

Jumpstart Releases New Dealer Insights

The latest edition of Jumpstart Automotive Media’s annual Insights Book sheds new light on the evolving car-shopping path.

March 28, 2017 - Industry News

Black Book: Spring Lift in Full Effect

Both cars and trucks realized a healthy seasonal boost in wholesale performance last week, with both segments retaining their values better than they have in the past six months.

Tags: Black Book, Used-Car Sales, used-vehicle prices, wholesale values

March 27, 2017 - Industry News

KBB: Q1 Sales Likely Second Highest on Record

The vehicle valuation site said the industry should sell 1.63 million units in March, which would bring first quarter sales to 4.1 million units. That would be the second highest first quarter sales tally on record.

March 23, 2017 - Industry News

Clarivoy Seeks Dealers for Attribution Study

Clarivoy has launched a survey of auto dealers to support a study on auto retail marketing investments.

March 23, 2017 - Industry News

defi SOLUTIONS Completes RouteOne's Econtracting Certification

defi SOLUTIONS's loan origination system is now certified for econtracting with RouteOne. Finance sources utilizing defi’s LOS will now benefit from a streamlined econtracting implementation process.

Tags: defi SOLUTIONS, econtracting, Fintech, Loan Origination System, RouteOne

March 23, 2017 - Industry News

F&I Digital Media Awards Submission Deadline Extended

Dealers, agents, product providers, marketers and manufacturers can submit entries by April 28.

March 23, 2017 - Industry News

N.Y.’s Major World Charged with Predatory Sales and Finance Practices

The Department of Consumer Affairs (DCA) has filed charges against Queens-based Major World and its three used-vehicle dealerships for allegedly employing deceptive financing and sales practices that targeted low-income and immigrant consumers.

Tags: Deceptive Advertising, Department of Consumer Affairs, fraud, Major World, powerbooking

March 23, 2017 - Industry News

CFPB Fines Experian $3 Million for Deceiving Consumers About Credit Scores

The Consumer Financial Protection Bureau took action against Experian and its subsidiaries for falsely claiming in advertisements that credit scores it offers and provides to consumers are used by finance sources to make credit decisions.

March 22, 2017 - Industry News

Kontos: Used-Vehicle Prices Soften 'Uncharacteristically' in February

February provided “further concrete evidence of softening” of used-vehicle prices, ADESA's Tom Kontos wrote in his monthly Kontos Kommentary.

Tags: ADESA Analytical Services, Tom Kontos, used-vehicle prices, Wholesale Pricing

March 22, 2017 - Industry News

Black Book: Cars Continue to Outperform Truck Segment

This week’s Black Book Market Insights report shows the car segment retaining its value better than the truck segment as a whole. However, compact vans saw their values strengthen by 1.17%, outperforming all other vehicle segments.

Tags: Black Book, used-vehicle values, vehicle depreciation, wholesale values

March 22, 2017 - Industry News

KAR Doubles Down on TradeRev

KAR Auction Services extended $15 million in credit to TradeRev, the digital auction platform in which KAR acquired a 50% stake in 2014.

Tags: Auto Auctions, Kar Auction Services, TradeRev

March 22, 2017 - Industry News

Voting Opens for 2017 Dealers’ Choice Awards

Dealers and dealership personnel are invited to recognize their favorite vendors, service providers and finance partners in the 13th annual Dealers’ Choice Awards.

March 21, 2017 - Industry News

Justice Department Files Amicus Brief Against CFPB

In an amicus brief filed last Friday, the Justice Department called on the D.C. Circuit Court to uphold the appellate court's 2-1 ruling in a New Jersey-based mortgage company's closely-watched challenge of the CFPB's authority. The agency says it agrees with the court's unconstitutional ruling and 'at-will' remedy.

March 21, 2017 - Industry News

Dent Zone’s Snowden Earns Lifetime Achievement Award

Jeff Snowden’s 25-year career as a technician, advocate and executive in the paintless dent repair industry was recognized at the 2017 International Mobile Tech Expo.

Tags: Dent Zone, F&I products, paintless dent removal