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March 17, 2015 - Industry News

Westlake Financial Adds ACI UP Bill Payment Solutions

ACI Up Bill Payment Solutions will allow Westlake customers to pay their loans with a debit card or ACH, which can accept payments online, through a mobile device, or via phone or text.

Tags: Online, Payment Plan, Westlake Financial Services

March 17, 2015 - Industry News

GWC Warranty Celebrating 20 Years in Business

F&I product provider GWC Warranty is celebrating its 20th year of business in 2015.

Tags: GWC Warranty Corporation

March 17, 2015 - Industry News

LendingTree Study Indicates Subprime ‘Auto Bubble’ Unlikely

A new study from LendingTree contradicts media claims of a subprime bubble. It shows that finance sources are not taking part in risky lending practices despite growing subprime originations.

Tags: auto lending, Equifax, LendingTree, Subprime, Wells Fargo

March 12, 2015 - Industry News

Midwest Compliance Summit Set for April

The next Compliance Summit event is set to be held April 20–21, 2015, in Illinois. The full day of educational sessions is open to automotive industry professionals involved in front-end compliance.

Tags: attorney, Compliance, general agents, Regulations

March 11, 2015 - Industry News

New Service Helps Dealers Manage Recalls

AutoAp says its new Dynamic Recall Management SM service can significantly reduce the time and risk associated with selling vehicles with open recalls.

Tags: vehicle recall

March 11, 2015 - Industry News

Voting for 2015 Dealers’ Choice Awards to Open March 16

Voting for Auto Dealer Monthly’s 2015 Dealers’ Choice Awards will open Monday, March 16. The awards recognize the industry’s leading third-party vendors, suppliers and finance companies.

Tags: Auto Dealer Monthly, Dealer's Choice Awards

March 11, 2015 - Industry News

Arbitration Clauses Limit Consumer Relief, CFPB Says

In a report released this week, the regulator revealed that 75% of consumers did not know whether they were subject to an arbitration clause in their agreements with their financial service providers. The study covered six different consumer finance markets, including auto loans.

Tags: arbitration agreements, CFPB, Consumer Financial Protection Bureau, Dodd-Frank Act

March 11, 2015 - Industry News

5 Dealers Awarded for Excellence in Toyota Rent a Car Program

Five Toyota dealerships in the Southeast region are among 56 to receive the 2014 National Leadership Award for outstanding performance in the Toyota Rent a Car program.

Tags: Awards, rental operation, Toyota

March 11, 2015 - Industry News

Berkshire Hathaway Completes Acquisition of Van Tuyl Group

Warren Buffet’s company has completed its acquisition of the Van Tuyl Group, the largest privately held dealership group in the United States. The transaction was announced in October.

Tags: Acquisition, Van Tuyl Auto Group

March 10, 2015 - Industry News

ADESA Marketplace App Released For Android

ADESA’s Marketplace mobile app is now available for Android users after being exclusive to iOS since last September, the auction company announced.

Tags: ADESA, Auction, Mobile Applications

March 10, 2015 - Industry News

Autosoft Certifies StoneEagle Technology Solutions for Integration With FLEX DMS

StoneEagle has completed the certification process for integration with the FLEX DMS as part of Autosoft’s FLEX Connect Program.

Tags: AutoSoft, DMS, DMS integration, StoneEagle

March 5, 2015 - Industry News

CNA National Named Finalist for BBB Award

The Better Business Bureau of Central, Northern and Western Arizona named the F&I product provider a finalist for the 2015 BBB Business Ethics Awards.

March 4, 2015 - Industry News

Calif. Dealer Settles Suit Over Fatal Crash

Bob Baker Lexus has reached a settlement with the family of four people killed in a car crash involving a loaner vehicle from the dealership.

Tags: Lawsuit, Lexus, Settlement, Toyota, vehicle recall

March 4, 2015 - Industry News

Utah Lawmakers Take Aim at State Dealer Laws

Four bills up for consideration in the current legislative session would change how dealers do business in the state. The bills were proposed by Republicans who view the current dealer laws as anti-competitive.

Tags: legislation, sales tax, Sunday Sales Ban, Utah

March 3, 2015 - Industry News

New-Car Transaction Prices Climb in February, KBB Reports

New-car prices increased 3.6% over last February, with Hyundai-Kia showing the largest percentage gain of all major OEMs.

Tags: February, Kelley Blue Book, New Vehicles, Transaction Prices

March 3, 2015 - Industry News

Mass. Dealer Sued for Selling Defective Cars

Massachusetts Attorney General Maura Healey has filed a complaint against a used-car dealer who allegedly had customers fill out blank contracts and then charged them at least twice the agreed-upon price for defective cars.

Tags: Attorney General, defect, Fraud, Lawsuit, Massachusetts

March 3, 2015 - Industry News

J.D. Power: In-Car Tech Impacting Dependability, Brand Loyalty

Bluetooth connectivity and voice recognition issues are the most frequently reported problems after three years of ownership, according to J.D. Power's 2015 U.S. Vehicle Dependability Study.

Tags: J.D. Power and Associates, Study, Technology, Vehicle Dependability, vehicle quality

February 26, 2015 - Industry News

Santander Agrees to $9.35 Million DOJ Settlement

Santander has agreed to settle charges that it illegally repossessed more than a thousand cars it financed for active service members over a five-year period.

Tags: Debt Collection, Department of Justice, Santander, Subprime

February 25, 2015 - Industry News

JPMorgan, DOJ Engaged in Discussions About 'Potent Statistical Disparities'

The finance source revealed in a regulatory filing Tuesday that it is in discussions with the U.S. Department of Justice about the possibility that minorities are paying higher rates for auto loans.

Tags: auto lending, CFPB, Consumer Financial Protection Bureau, Department of Justice, discrimination, Disparate Impact, DOJ

February 25, 2015 - Industry News

Bill Would Allow Md. Dealers to Tell Buyers About Car Defects

The president of a Maryland dealer group asked a state Senate panel this week to pass a bill that would grant dealers the right to tell customers about potential vehicle safety problems without backlash from manufacturers.

February 25, 2015 - Industry News

Flick Fusion App Allows Video Capture from Phone

Flick Fusion released upgraded versions of its mobile apps for iPhone and Android. New features include the ability to create inventory videos from the app, distribute videos to clients, and upload them online.

Tags: Flick Fusion, inventory, Mobile Applications, Video Advertising

February 24, 2015 - Industry News

A1 Seeks Beta Testers for Selly CRM

AI Software Group is seeking beta testers for Selly Automotive, a mobile- and social media-focused sales platform for franchised and independent dealerships.

Tags: A1 Software Group, CRM, mobile leads, Selly Automotive, Social Media

February 24, 2015 - Industry News

ADESA Pulls Out of Proposed Multi-Platform System

ADESA will not participate in the automotive remarketing industry's initiative to establish a platform that would allow simultaneous bidding on vehicles listed on multiple online auction sites.

Tags: ADESA, Auto Auctions, Manheim, Remarketing

February 24, 2015 - Industry News

CPS CEO: Finance Source Ahead of the Compliance Curve

Consumer Portfolio Services CEO Charles Bradley laid out the lender’s compliance efforts during a quarterly earnings call last week. The finance source’s subprime lending activities are currently being investigated by Department of Justice.

Tags: CFPB, Compliance, Consumer Financial Protection Bureau, Consumer Portfolio Services (CPS), Debt Collection, Department of Justice, Federal Trade Commission, FTC, Settlement

February 23, 2015 - Industry News

J.D. Power Projects Best February Sales in 13 Years

Total light-vehicle retail sales are expected to reach 1.3 million units in February, the highest total for the month since 2002, according to projections from J.D. Power and LMC Automotive.

Tags: J.D. Power and Associates, LMC Automotive, monthly sales, Retail Sales, SAAR