Colleen F

TruPayments, LLC, has introduced TruShop-by-Payment and the website.

TruShop-by-Payment provides a one-to-one personalized shopping experience, allowing consumers to shop simultaneously for their vehicle and financing across all of a dealer’s inventory and finance programs, for all available terms, with rebates, incentives, specials, ePrice, trade-in equity, etc. calculated and applied.

Lease Approvals Drop

October 16, 2018, a car lease marketplace, reports car lease credit applicants registered a 69.8 percent approval rate in September, a 3.9 percent drop from the August rate of 72.6 percent. Lease approvals experienced a slight dip after approvals had been increasing steadily over the last four months.

The number of lease approvals is relatively high for the month of September, as only 47.6 percent of lease applicants were approved in 2017, and 64.7 percent were approved in September of 2016. The lease approval rate for the previous three months is registered at 68.8 percent. matches a person wanting out of their existing vehicle lease contract with a car shopper looking to take over a short-term vehicle lease. The marketplace has several thousand cars and trucks available for transfer to anywhere in the continental U.S.

Drive Motors, which builds online car-buying solutions for large car-dealer groups, announced Chris Gugliotta as its head of strategic partnerships, a newly created position. Reporting to CEO Aaron Krane, Gugliotta will be responsible for leveraging Drive Motors' transparent and omnichannel online car-buying tools for lenders and manufacturers.“Drive Motors is solidifying its position as the leader of transparent car buying for auto dealers, and forging strategic partnerships is going to accelerate Drive's sustained growth,” Gugliotta said.

Gugliotta has more than 20 years’ experience, most recently at Lithia Motors.

The auto loan default rate decreased eight basis points to 0.89 percent in September according to a report from S&P Dow Jones Indices and Experian.

The report includes data through September for the S&P/Experian Consumer Credit Default Indices. The indices represent a comprehensive measure of changes in consumer credit defaults and show that the composite rate was five basis points lower than last month, at 0.82 percent. The bankcard default rate dropped 38 basis points to 3.14 percent. The first mortgage default rate was down two basis points, to 0.63 percent.

All five major MSAs recorded decreases in composite default rates in September. Dallas showed the largest decrease, falling 11 basis points to 0.73 percent.

Notably, all loan types and all major MSAs saw a decrease in default rates in September. Bankcard default rates fell for the fifth consecutive month, to the lowest level since December 2016.

Lending Tree, an online loan marketplace, released its study on Americans’ credit scores by generation that found that the older someone is, the better their credit tends to be. On average, members of the silent generation (the oldest cohort, an average age of 75-80) have credit scores 100 points higher than those of millennials.

Credit Score by Generation


Average Credit





Gen X



Baby Boomer





Very Good

Source: Analysis of an anonymized sample (July 2018) from among My Lending Tree's 9 million users.

One possible reason for higher scores among older people is cultural. In general, they may use credit less and may be more disciplined savers and spenders, said Kali McFadden, senior research analyst at Lending Tree.

The younger generations, in contrast, are likely saddled with higher amounts of debt.  Additionally, they may have higher living costs - potentially associated with caring for families - and fewer savings. That could lead to limited financial wiggle room to cover unexpected expenses, so they could be more likely to be late on bills that can lead to negative marks on their credit.

It's also a matter of the length of credit history. Millennials, who are as young as 22, haven't had the time to build up the credit history that is necessary to achieve a stellar score.

“Even someone who has handled their finances impeccably will have lower credit scores until they've demonstrated that across a mix of debt products over an extended period of time,” McFadden said.

CarStory, the automotive AI platform, announced the launch of CarStory Appraise, the first dealer appraisal product to combine sales predictions with big data information in a consumer-grade, intuitive interface. The CarStory Appraise app is now available for Apple iOS, Android and via the web.

 “Buying the right cars at the right price is critical to maximizing profits for a dealership,” said Chad Bockius, president and chief product officer. “Historically, dealers have had to juggle a variety of unknowns and make gut calls - how fast a car will turn, how much it will sell for, what is the current supply and demand and more - in order to determine what to put on their lot.”

By merging artificial intelligence and data analytics, CarStory Appraise offers a complete assessment of a vehicle based on how each car will perform on a specific dealer’s lot.

Wells Fargo & Company reported net income of $6 billion, or $1.13 per diluted common share, for third quarter, compared with $4.5 billion, or $0.83 per share, for third quarter 2017.

The company states it saw positive business trends in the third quarter, including growth in primary consumer checking customers, increased debit and credit card usage, and higher year-over-year loan originations in auto, small business, home equity and personal loans and lines.

FCA Wins Award

October 15, 2018

FCA US LLC won a 2018 North American Candidate Experience Award.

The Candidate Experience Awards are conveyed each year by Talent Board, a non-profit organization that focuses on benchmark research of quality candidate experience.

The company also earned the award in 2016 and in 2017 and is the only automaker to achieve this important benchmark.

In the past year, FCA has launched a reimagined new hire orientation program and continues to pursue strategies that enhance new hire engagement and integration.

Talent Board says more than 200 companies registered to participate in the 2018 awards program, which ultimately collected the thoughts and experiences of more than 130,000 job candidates. sold over $12.2 million (gross auction proceeds) in assets this month. Nearly 300 sellers from all over the world sold more than 1,600 assets in total through the weekly, online-only auction platform. This week’s auctions accepted bids from over 4,500 bidders in all 50 U.S. states and 28 countries worldwide. Online-only auctions are held weekly with new auction listings added constantly, and bidding is free and easy. is currently accepting consignments (individual assets and packages) as it gears up for massive, multi-day, end-of-year auctions. These weekly December sales are expected to sell over $100 million in farm equipment, construction equipment, trucks, and trailers.

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