Used Car NewsUsed Car News

  • ABG -1.38 - -2.25%
  • AN -0.67 - -1.28%
  • CACC -2.59 - -1.37%
  • CAR -0.68 - -1.79%
  • CARZ +0.328 - +0.998%
  • CPRT +0.70 - +1.38%
  • CPSS +0.01 - +0.26%
  • CRMT +0.93 - +2.71%
  • DAI
  • F -0.02 - -0.14%
  • FIATY +0 - +0%
  • GM -0.13 - -0.40%
  • HMC +0.18 - +0.67%
  • HTZ -2.28 - -4.33%
  • KAR -0.49 - -1.13%
  • KMX -0.19 - -0.32%
  • LAD +0.19 - +0.23%
  • MZDAF +0.00 - +0.00%
  • NSANY +0.84 - +4.40%
  • PAG -0.48 - -1.33%
  • SAH -0.64 - -3.39%
  • TM +0.97 - +0.89%
  • TRAK +0.00 - +0.00%
  • TSLA -1.02 - -0.44%
  • TTM +0.10 - +0.27%
  • VLKAY +0.79 - +2.69%
  • VROM

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NextGear Capital Available at CarMax Auctions

NextGear Capital has announced a new agreement with CarMax that will allow dealers to use their NextGear Capital lines of credit at all 68 CarMax auction locations.

NextGear Capital floor plans are currently accepted at over 1,000 live and online auctions, and may be used with inventory sources such as trade-ins, off street purchases and loan payoffs.

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State Says Dealers Stole Sales Tax

The co-owners of a Lafayette, La., used-car dealership face felony charges for allegedly stealing tens of thousands of dollars in state sales tax revenues.

Shawn Paul Calvit and Michael Vilchez Laue own and operate Lauco Auto Sales at 220 Johnston Street in Lafayette. Investigators with the Louisiana Department of Revenue say the pair underreported the sales price of more than 100 vehicles, shorted the state on the sales taxes, and pocketed the difference.

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Ally Increases Used Originations

Ally Financial Inc. cut back on new-car originations in the second quarter, but came close to a record on the used side.

Total auto originations for the quarter were $9.4 billion, down from $10.8 billion a year ago. However, Ally reached a near record for used volume at $4 billion.

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Wyoming Drivers Pay Most to Own Cars

Wyoming is the most expensive state to own a car, costing the average driver $31,587 over a five-year period, according to an analysis from Insurance.com.

That’s nearly twice the cost of the cheapest state, Hawaii, at $17,289.

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