Recent Updates
- All
- News
- Publications
- Announcements
Auto Dealerships are Increasingly Impacted by Fraud
Fraud is a growing concern for auto dealerships, with one fraud incident on average per year. Despite this, only 21% of dealerships verify identification properly. Many rely on photocopying driver’s licenses (64%) rather than utilizing…
Auto Lenders are Increasingly Impacted by Fraud
Auto Lenders are at risk for $8.1 billion in fraud annually because loans are financed based on applications containing misrepresentations. Identity theft is cited as the cause of 20% of fraud. Auto dealers are on…
Time on Dealership Lots is Increasing
Auto dealerships are experiencing longer vehicle turnover times, with an average of 50.2 days spent on car lots over the last twelve months, marking a 23% increase from the previous year. June and July 2021…
Colonnade advises Stonemark on its sale to Imperial PFS
April 2, 2024 Imperial PFS® (IPFS), the leading provider of premium finance solutions in North America, has acquired Stonemark, Inc., a privately held premium finance organization. The transaction closed on April 1, 2024. Stonemark’s existing client base of…
Identity Fraud Costs Dealerships More than $700 Million Annually
84% of auto dealerships have experienced identity theft since COVID-19, costing the industry $700 mm annually. The remote nature of car retailing online, which accounts for 30% of sales, makes identity theft easier. Despite these…
