Financial

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]

The RVI Group has hired David McKay as vice president of business development and sales in the company’s passenger vehicle department. For the RVI Group, which offers residual value insurance and financial and analytical services, McKay’s responsibilities will include business development, which includes sales and product design. Auto industry asset value protection insurance products will be […] [Read More]

New-vehicle leasing still isn’t quite at the level seen before the pandemic started, according to data provided by Experian Automotive. During the first quarter of this year, Experian reported that 30.19% of all new-model deliveries were connected to a lease. In the second quarter with COVID-19 in play, analysts found that leasing softened to 25.81%. […] [Read More]

Independent dealers who use ACV Auctions to acquire inventory now have another option for their floor planning. On Tuesday, First Business — which just launched its floorplan service in June — announced a new agreement to offer floorplan financing through ACV. The company highlighted that the partnership can allow independent dealers who have earned competitive pricing […] [Read More]

Automotive ecommerce provider Modal announced a $15 million round of Series A financing Tuesday led by American Honda, which has been working with the company the past two years to build branded online-buying tools for its Honda and Acura brands. Prior investors also participated in the round, Modal said. “Our new financing will allow us to […] [Read More]

Used Car Week’s Auto Fin Con concludes Friday with another round of live sessions. The virtual expo hall opens at 11 a.m. (ET), and the day gets rolling in earnest at noon with opening comments from Cherokee Media Group president Bill Zadeits, DRN executive vice president/general manager Jeremiah Wheeler and NAF Association president Joel Kennedy. The first […] [Read More]

The live sessions at Used Car Week, which began Monday with the concurrent Auto Fin Con and NAF Association events, continue Wednesday with a full slate of great presentations and panels. The virtual expo hall opens at 11 a.m. (ET), and the day gets rolling in earnest at noon with opening comments from Cherokee Media […] [Read More]

In this episode of the Auto Remarketing Podcast, we catch up with Alejandro Cabrera and Mauricio Cuevas, co-founders of Uproar.car, a tech startup aiming to disintermediate the auto warranty market through online subscriptions. The business partners, who met while working at Microsoft, explain how the service works, the growth of digital solutions in the ancillary […] [Read More]

CarEdge.com, a provider of analytical tools that automotive dealers and leasing companies use to assess vehicles’ current and future values, has introduced a vehicle financing calculator that compares the expected depreciation of a vehicle with the future balance on a car loan.   The company designed the calculator to make consumers aware of the risks […] [Read More]

To get a sense of how this year’s all-digital Used Car Week will begin, picture a sandwich.  If Thanksgiving week is the leftover turkey, stuffing and cranberry sauce, then the weeks of Auto Fin Con and Repo Con are the slices of bread bookending those feast-filled days. Before the holiday season kicks off, we’re bringing […] [Read More]