Inovatec Systems Corp. has chosen CARFAX Canada VIN Scan to help power their industry-leading, cloud-based lending software solutions. The partnership enables Inovatec users to adjudicate lease and finance applications with greater efficiency and accuracy.

CARFAX Canada has billions of data records from thousands of unique sources, including data that can't be found anywhere else. VIN Scan leverages this information to provide high-level insight into key vehicle attributes. The system…

Amid Ongoing General Motors Strike, the Cadillac Escalade Payment Increases by Nearly 40%

Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings for the month of September.  While the majority of automotive brand prices remained steady into September, some GM models saw price increases. 

The Cadillac Escalade increased in price by $326.94 this month, bringing its monthly payment to $799 per…

Lease Approval Ratings Drop Slightly in August Following Increase in July

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 68.9% approval rate in August, a slight dip from the July rate of 69.1%.

August experienced a higher number of applicants with qualifications for taking over another person’s lease, as well as the highest number of applicants year-to-date. The month had a slightly lower approval…

Here is the most recent auto loan and lease origination data and trends from Equifax. 

Key Highlights: The percent of subprime to the total originations is at the lowest point since 2011 (currently at 20.7%).

Auto Loan Originations Observations reported through April 2019

• 7.96 million auto loans, totaling $183.9 billion were originated year-to-date. This is a 0.3% decrease in accounts and a 2.3% increase in…

Online Training Program Helps F&I Personnel Better Understand Product Offerings

To Elevate Profit and Customer Satisfaction Levels…

While 67% Of Auto Lease Prices Remained Steady in August, Trucks and SUVs Experienced Significant Price Drops

Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings for the month of August.  Over 33% of today’s popular automotive manufacturers of trucks and SUVs offered generous discounts on new lease deals.

While most car prices have remained steady in August, manufacturers offered…

Crossovers Not Seeing Growth in Leasing?

A year ago, roughly 7.4% of drivers polled said they would shop for a crossover if they needed to go out and lease a vehicle that day. A year later, that number dipped slightly to 7.1%. With all the explosive growth in Crossover production, is it not a vehicle that appeals to the lease crowd?

Does Payment Threshold Really Matter?

A year ago, the average lease payment was…

Lease Approval Ratings Improve in July Following Slight Dip in June

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 69.1% approval rate in July, a rise from the June rate of 65%. July experienced a strong number of applicants with qualifications for taking over another person’s lease, and a slight approval rating increase following a dip in approvals for June.

July saw a slight decrease in approval…

acksonville-area first responders, fire fighters and law enforcement officials are more prepared for the future of public transportation after completing emergency training with autonomous vehicles.

The JTA, along with Florida-based autonomous mobility solutions company Beep, First Transit and autonomous vehicle manufacturer NAVYA, hosted a day-long training session at the North Florida TPO campus, focusing on the latest AV technology and how first responders should address emergency…

Here are the latest auto credit trends as reported by Equifax through March 2019:

• Equifax is reporting data that show the increase in loan balances on both financed and leased vehicles may beginning to slow.
• Balances on loans in the period ending January 2019 showed an increase of 2.8% from the year earlier, this number shrunk to just 1.3% in the period ending March 2019.
• Balances on leases in the period ending January 2019 showed an increase of 3.0%…

Autonomous Mobility Solutions Company Partners with Leading Fleet Orchestration Platform to Deliver Intelligent, Consistent, Autonomous Mobility Services

Beep, a Florida-based autonomous mobility solutions company, today announced a partnership with Bestmile, the leading fleet orchestration platform. Through this partnership, Beep will leverage the market…

Regardless of whether you are on the side that believes Millennials like or dislike personal automotive commitment, no doubt their unique perspective on automobiles and vehicle shopping may forever change the way certain vehicles were once perceived. According to the customer advisor specialists at Swapalease.com, who consult with…

Majority of Customers Report Complaints in Lengthy Vehicle Financing Processes from Lenders

Inovatec Systems Corp., a provider of industry-leading, cloud-based software solutions for all financial institutions, today announced the results of its latest survey, showing 79.3% of C-Suite finance executives polled overwhelmingly reported their organization was most in need of Artificial Intelligence (AI) Integration in their automotive lending processes.

Although it’s no…

F&I Product Offerings Designed to Help Dealers Educate Customers

Protective Asset Protection, a provider of F&I programs, services and dealer owned warranty company programs, continues to ensure its F&I product offerings meet the needs of dealers selling plugin, electric vehicles…

Several Brands Offer Discounts on SUV Leases, Nissan Offers Attractive Lease Deals on Several of Their Vehicles

Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings for the month of July.  Several automotive brands offered discounts on SUV’s entering the month of July, with Nissan offering enticing deals to shoppers on a variety of vehicles.

The Nissan Sentra is currently priced the lowest…

More Demand From Consumers Seeking Existing Lease Contracts at Price Points Negotiated When Dealer Incentives Were More Prevalent

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 65% approval rate entering July, a drop from the 72.4% mark registered in May.

Although lease origination activity at dealerships was down in Q1[1], lease takeover…

Inovatec Systems Corp., a provider of industry-leading, cloud-based software solutions for all financial institutions, and ZestFinance, a leader in artificial intelligence (AI) software, today announced their strategic partnership to enhance lending procedures in the financial services industry.

Inovatec will integrate Zest Automated Machine Learning software (ZAML) into its business process management technology to help lenders immediately improve their underwriting results with…

NISSAN INCREASES PRICES ON NEW LEASE DEALS IN JUNE ACCORDING TO WANTALEASE.COM

Several Manufacturer Prices Fluctuate on Small, Mid-Size and Luxury SUVs

Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings, showing price increases on a number of today’s popular Nissan leases. While most vehicles maintained their prices from May, a number of manufacturers had price…

Continue to grapple with consumer time at dealership, unverifiable credit application data, and fraudulent transactions

A new automotive survey from Equifax finds that dealers understand digital retail solutions, but may struggle in providing such solutions to customers. The online survey polled 135 dealers around the U.S. to get a better understanding of current trends in retail transactions, credit applications, vehicle financing,…

Trust Science and Inovatec Systems Team Up to Release World's First End-to-End Loan Management Platform Powered by Alternative Credit Scores

Lenders now have the ability to reliably find, score, lend to and manage the loans of 64 million unbanked and under-banked consumers in the United States alone…