Financial News

With the uptick in average credit scores for vehicle financing across the board, the percentage of subprime loan originations reached its lowest level in 11 years in the third quarter.…
Black Book’s Used Vehicle Retention Index for November reached 116.5, marking seven months of continuous growth. The Index increased from 116.3 in October. The Index has seen a just one…
The estimated average transaction price for light vehicles was $36,978 in November, according to Kelley Blue Book. New-vehicle prices increased by $769 (up 2.1 percent) from November, while remaining flat…
The new-vehicle sales pace in November is expected to be 17.1 million units, a decrease from October’s 17.5 million level, but on pace with the market’s 2018 overall average, according…
The U.S. Patent and Trademark Office has awarded Spireon a patent for its technology approach to managing an automotive dealership's vehicle inventory by pairing a tracking device to a vehicle.…
The Bureau of Consumer Financial Protection announced a settlement with Santander Consumer USA Inc. As described in the consent order, the Bureau found that Santander violated the Consumer Financial Protection…
Steve Anenen, the former president and CEO of CDK Global, has been appointed to the DealerSocket board of directors. Anenen served for more than 25 years at CDK Global, formerly…
Chase Auto announced a new shift in leadership that aligns its lending business with marketing into one consumer-facing shop. The combination will be led by Chase Auto Chief Marketing Officer…
Primeritus Financial Services promoted Mike Thomas to chief executive officer, effective immediately. Thomas succeeds Scott Peters who joined Primeritus in 2015 and led the company during a period of rapid…
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