Operations | Auto Finance News - Part 3

Pennsylvania dealers nailed in 4-year fraud scheme

The owner and finance manager of two Erie County, Pa.-based dealerships — Lakeside Auto and Lakeside Chevrolet — have been indicted on 17 counts of auto fraud, according to an announcement by the Department of Justice on Tuesday. According to the indictment, Owner and former President of the National Independent Automobile Dealers Association, Andrew Gabler, […]

Carvana ramps up car-buying business

Carvana is allocating more marketing dollars and technological capabilities to the company’s business of buying cars, something Chief Executive Ernie Garcia called “a significant fundamental step toward achieving our long-term goals.” As the company continues to expand geographically, light inventory has been a “pinch point” for Carvana, Garcia said in the company’s second-quarter earnings call […]

VW Financial and Daimler Mobility launch UK used-car platform

Volkswagen Financial Services and Daimler Mobility have expanded online used-car marketplace Heycar into the U.K., bringing an inventory of more than 100,000 vehicles across 1,400 dealerships. The U.K. used-car market is valued at $60 billion, and financing is valued at $21.2 billion, according to Heycar.   Heycar’s platform, which launched nearly two years ago in Berlin, partners with […]

In memoriam: David Buchanan

With a heavy heart, we regret to inform you of the Aug. 11 passing of David Buchanan, former head of Fidelity Bank’s indirect lending business and an esteemed member of the AutoFinanceNews.net community. He was 62. David was a 40-year veteran of the financial services industry — he spent 23 of those years at Fidelity. […]
  • Auto Finance News
  • August 14, 2019
  • People

CarLabs readies phase 2 of AI-chatbot for Kia Motors Finance

Kia Motors Finance customers will be able to make account-specific queries online as soon as the first quarter of 2020, CarLabs.AI Chief Executive Martin Schmitt told Auto Finance News. The AI-chatbot developer integrated a navigational chatbot onto the captive’s website in April, which directs customers to the right resource and answers questions such as, “When […]

Tricolor debuts insurance program

Tricolor Auto Group is diving into the auto insurance business with the creation of Tricolor Insurance Agency, the company announced today. Tricolor Auto Insurance has signed up with 10 “nonstandard” carriers in Texas, said Chief Product Officer Mauricio Delgado, referring to insurers that offer coverage to high-risk customers. Tricolor will not underwrite the policies; instead, […]

Fair eyes new debt funding

Fair is in discussion with a "major global financial institution" for as much as $500 million of debt funding, Co-Founder Georg Bauer told Auto Finance News. To date, the 3-year-old vehicle subscription company has raised $1.5 billion in funding over nine rounds. "Once this [funding] is closed, we are picking up our work with the […]
Page 3 of 419«12345 » 102030...Last »