JM&A Group promotes 2 execs

AuSM Staff

JM&A Group announced Thursday that it has promoted Gavin Tennant to vice president of customer services and Mark Barovich to assistant vice president of portfolio risk management and actuarial services. Tennant most recently lead the company's redesigned dealer portal initiative called Dealer Source. In his... Read More

Podcast: Jeremiah Wheeler of DRN

AuSM Staff

Jeremiah Wheeler, vice president of financial services at DRN, returns to the AuSM Podcast, as Nick hosts a discussion about the impact technology is having on vehicle repossessions. We also touch on the special segments at Used Car Week that include Jeremiah and DRN, which is the presenting... Read More

As car leasing rises, alternatives sprout

Joe Overby, Senior Editor

Amid changing car ownership models, autonomous vehicles, digital retailing and other innovations, there’s another area of automotive that’s perhaps ripe for disruption: the leasing process. Including, but not limited to, the used-car side of that business. Fair, for instance, is an app that provides... Read More

AuSM Staff

The National Automobile Dealers Association recently rolled out a resource for members to help stores leverage vehicle leasing in a way that results in happy customers and compliant deliveries. In light of the vehicle leasing business reaching an all-time high in 2016 with 4.3 million new units being leased, NADA... Read More

AuSM Staff

MUSA Auto Finance said its platform now offers capability that separates it from any captive or other provider specializing in leasing of new and pre-owned vehicles, especially for customers who already have strong credit backgrounds. MUSA Auto Finance announced this week the launch of automated decisioning for... Read More

Uber exits vehicle-leasing business

Nick Zulovich, Staff Writer

AuSM confirmed on Wednesday that Uber is out of the vehicle-leasing business. Based in part by what reportedly has been heavy residual value losses, an Uber spokesperson said the Uber will cease Xchange Leasing, the platform where drivers could lease vehicles and maintain monthly payments by serving as a... Read More

IFS president Janssen to retire Jan. 1

Joe Overby, Senior Editor

Innovative Funding Services president Tim Janssen, who founded the company in 2007, is retiring from his post on Jan. 1, the company said in a news release.  Chad Shoemaker, who is currently chief executive officer of IFS, will add the role of president to his title. Janssen managed the role of vice president of... Read More

EFG commentary: Another turn of the screw by the CFPB

Steve Roennau , EFG Companies

On July 10, the Consumer Financial Protection Bureau (CFPB) issued a rule banning companies from denying arbitration to groups of people. And, if everything passes, the law should go into effect in September. For auto retail dealers and lenders, this change is just one more turn of the screw clamping down on the ability to... Read More

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