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The Used Car News Report: Carvana and Optimism Grow

Monday, 11 December 2017 22:02

AG Sues Dealer for Failing to Deliver Titles

The Ohio attorney general announced a consumer protection lawsuit against a Cleveland used car seller accused of failing to deliver vehicle titles to customers.
The lawsuit accuses New School Auto LLC and owner Abigail Ferry of violating Ohio’s consumer protection laws.
 The Ohio attorney general’s office has received dozens of complaints against New School Auto of 3855 Ridge Road in Cleveland. Some consumers complained that they never received titles to vehicles they bought from the dealership, resulting in 15 claims totaling $33,876 being paid from the state’s Title Defect Recision Fund to help resolve consumers’ title complaints.
Published in Legal
Thursday, 16 November 2017 23:40

Carvana Marks Milestone

Carvana launches its 40th market in four years.The online retailer started operations in Bakersfield, Calif. This is Carvana’s second market in California.
Published in buy here
Thursday, 05 October 2017 19:09

AG Sues Defunct Dealer for Missing Titles

The Ohio Attorney General announced a lawsuit against a car dealer for failing to deliver motor vehicle titles to consumers.
The lawsuit against now-defunct AutoExpress of Cincinnati Inc. and operator Lonny D. Donnerberg seeks reimbursement for the Title Defect Recision Fund, which helps reimburse consumers who experience title problems after buying a vehicle from a dealership. The lawsuit also seeks to prevent Donnerberg from obtaining a car dealer or salesperson license in the future.
According to the lawsuit, AutoExpress of Cincinnati, which last operated at 203 West Main Street in Amelia, went out of business and left dozens of consumers without titles for vehicles they had purchased. Claims totaling more than $53,800 were paid from the Title Defect Recision Fund to resolve consumers’ title issues.
Published in Dealers
Wednesday, 06 September 2017 01:20

Westlake Uses Equifax Dealer Intelligence Platform

Westlake Financial has agreed to use Equifax’s dealer intelligence platform, TradeSight, to manage and monitor its dealer relationships.TradeSight helps analyze originations, current and future dealer partners and performance of the contracts booked through dealer partners. It works by combining Equifax consumer credit information with dealer and vehicle data from third-party data sources to assess the dealer network and establish peer benchmarks to help evaluate dealers’ credit risk.
Published in Tech News
Wednesday, 09 August 2017 17:13

Carvana Acquires Carlypso

Carvana has acquired online competitor Carlypso.Initially established as a peer-to-peer car selling service, Carlypso evolved into a managed marketplace, giving consumers direct access to wholesale inventory. Carlypso developed proprietary data, analytics, and machine learning tools to filter, value and price cars without ever actually seeing them, and scaling that process to analyze over 200,000 cars each day. Carvana plans to integrate these with similarly purposed proprietary technology that it has created.
Published in buy here
Tuesday, 20 June 2017 20:39

Porsche Recalls Vehicles for Stalling

Porsche Cars North America, Inc. is recalling 17,986 2010-12 Panamera S, Panamera 4S and Panamera Turbo vehicles; 2011-12 Panamera and Panamera 4 vehicles; and 2011 Cayenne S and Cayenne Turbo vehicles. The affected vehicles have camshaft controllers that may come loose inside the engine, potentially resulting in an engine stall.Porsche will notify owners, and dealers will replace the fastening screws for the camshaft adjusters, free of charge. The manufacturer has not yet provided a notification schedule. Porsche’s number for this recall is AH08.  
Published in Compliance News
Saturday, 10 June 2017 17:25

CarMax Adds East Coast Store

CarMax Inc. celebrated the grand opening of its third store in Connecticut, located at 450 Captain Neville Drive in Waterbury. The Waterbury CarMax has the capacity to stock approximately 200 used vehicles. In celebration of the Waterbury store opening, CarMax and The CarMax Foundation awarded $8,000 in donations and grants to the Boys & Girls Club of Greater Waterbury. CarMax associates from the Waterbury store recently volunteered with the nonprofit and nominated it to receive the contributions. The CarMax Foundation will also be donating an Imagination Playground valued at more than $15,000 through its partnership with Kaboom focused on making play more accessible to children and families. CarMax is currently identifying a recipient for the Imagination Playground and plans to present the donation this summer.
Published in buy here
Saturday, 10 June 2017 17:25

Carvana Keeps Growing

Four years after selling its first car in Georgia, Carvana is adding another store.The chain’s latest location serves residents in the Augusta and Macon areas.Carvana launched in Atlanta in 2013.To date, Carvana has delivered cars to customers in 48 states. With this launch, Carvana now offers free, as-soon-as-next-day delivery to residents in 29 markets.
Published in buy here
Monday, 22 May 2017 21:05

Mercedes Recalls One R320

Mercedes-Benz USA LLC is recalling one 2013 R320 4MATIC CDI vehicle equipped with a six-cylinder diesel engine. In the event of a crash where the primary communication pathway between the air bag control unit and the engine control unit is damaged, the supplementary communication pathway may not shut off the engine or fuel pump.MBUSA will notify the owner, and a dealer will update the engine control unit with new software, free of charge. The recall is expected to begin by early June.
Published in Compliance News
Monday, 22 May 2017 21:05

Cars.com Promotes Editor

Cars.com has appointed Jennifer Newman as the site's editor-in-chief. Newman has been with Cars.com for nine years serving in various roles of increasing responsibility on the editorial team, most recently as managing editor. As editor-in-chief, Newman will lead efforts to expand and grow Cars.com's diverse content offering ranging from car reviews and videos to news content and original reporting. Newman received her Bachelor of Arts in journalism from University of Wisconsin-Eau Claire. Prior to Cars.com, Newman worked at the Chicago Sun-Times, Boston Herald and The Times of Northwest Indiana.  
Published in Tech News
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Men Face Charges of Defrauding Auto Creditors

Men Face Charges of Defrauding Auto Creditors

Two Pennsylvania men have been indicted by a federal grand jury on charges of conspiracy to commit wire fraud and wire fraud involving straw buys from a used-car dealership.According to...

Auto Stocks Outperform Market

Auto Stocks Outperform Market

The Kerrigan Auto Retail Index (The KAR Index), a composite of the seven publicl...

  • Men Face Charges of Defrauding Auto Creditors
    Men Face Charges of Defrauding Auto Creditors Two Pennsylvania men have been indicted by a federal grand jury on charges of conspiracy to commit wire fraud and wire fraud involving straw buys from a used-car dealership.According to…
    Written on Thursday, 15 September 2016 16:49
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  • AG Sues Dealer for Failing to Deliver Titles
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    Written on Wednesday, 05 October 2016 21:27
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  • Former Salesman Gets Prison for Pocketing Payments
    Former Salesman Gets Prison for Pocketing Payments A former salesman was sentenced to at least 16 months in prison for stealing car payments from customers and dealerships in Nassau County. Michael McGriff pleaded guilty to charges, from…
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