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2018 Remarketer and Consignor of the Year Named

Jeannie Chiaromonte, VP, national remarketing manager at Bank of America won this year's...

Tom Caruso, executive vice president at KAR Auction Services received the 2018 Remarketer of the Year Award at the 2018 Conference of Automotive Remarketing. Jeannie Chiaromonte, VP, national remarketing manager at Bank of America received the 2018 Consignor of the Year Award.

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U.S. Bank to Offer Used Vehicle Financing Online

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U.S. Bank has partnered with AutoGravity to create a new platform that allows consumers to shop for a new car and receive pre-approval for a loan directly on the bank’s website, according to a company announcement.

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Lease Approval Rates Fall 4% in January

Lease Approval Rates Fall 4% in January

The decline came as a result of a higher-than-average number of applicants in January. More people looking to get into a lease during the month, allowed for a higher number of people to not qualify for a lease, according Swapalease.com.

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New IARA Board Member: Steve Solomon

As a new member of the International Automotive Remarketers Alliance (IARA) board of directors, Steve Solomon, VP of asset remarketing for Santander Consumer USA, is not only excited to engage with like-minded individuals, he is also looking to further grow in an industry that he has been a part of for nearly two decades.

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Lease Credit Approvals Fall 14.5% From June

Approvals for vehicle leases fell 14.5% to 54.3% in July from the prior month partly because an influx of students with lower credit scores applied for vehicle leases ahead of the college school year, reports Swaplease.com.

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Lease Approvals Bounce Back

About 68.8% of the people that applied for leases in June were approved, a 20% improvement over the month before, according to car lease marketplace Swapalease.com.

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New York Fed: Auto Originations at 18-Year High

Household debt rose by $226 billion to $12.58 trillion in the fourth quarter 2018, the highest quarterly increase since the fourth quarter 2013. It now sits just below its peak of $12.68 trillion in the third quarter 2008, according to the latest Quarterly Report on Household Debt and Credit from the Federal Reserve Bank of New York.