NETS Drive Safely Work Week Toolkit Available in Spanish

The Network of Employers for Traffic Safety (NETS) announced the 2013 Drive Safely Work Week (DSWW) toolkit is now available in Spanish. The Spanish-language translation was made possible through NETS’ partnership with the National Highway Traffic Safety Administration (NHTSA). Nearly 38 million U.S. residents speak Spanish at home, according to the U.S. Census. Drive Safely […]

 

Considering a Used Off Lease or Repo

  • In 1997 study, CNW Research found more than 70% of used car shoppers would consider buying a repossessed vehicle
  • Today that’s fallen to 31.8%, and 55% of used car shoppers wouldn’t even consider it
  • Today, used-car shoppers find off-lease cars to be best alternative and that number has seen a significant increase since 1997
 

Used Car Prices Will Fall, but is that Really Bad News?

There’s a consensus emerging that prices will be softening later this year due to off-lease returns and from other sources – according to two leading experts on used vehicle valuation.

The strong used car price environment looks like it will be changing; however, it should be considered from a big picture vantage point – prices might drop but still be fairly high.

And there are other elements of profitable used car sales for dealers that are happening out there in most markets.

As for right now, used prices are strong – according to Art Spinella and Jonathan Banks.

Another interesting development was that International Automotive Remarketers Alliance’s (IARA) standards committee has drafted a template to help financial institutions comply with rules being set by the Consumer Financial Protection Bureau.

This week’s Used Car Market Reports tracks some very interesting remarketing trends…..

 

IARA Committee Seeking Support on CFPB Compliance

The IARA’s standards committee has drafted a template to help financial institutions comply with rules being set by the Consumer Financial Protection Bureau, said Dan Heinrich, chairman of the committee. The committee hopes to receive endorsement from IARA and NAAA. The proposal addresses computer data security, access to accounting and inventory, how customer data are backed up, employee hiring and background checks, and other issues.

 

Frank Ford Named VP Diversified Products for NextGear

Frank Ford has been appointed to the role of Vice President, Diversified Products at NextGear Capital. He’ll be responsible for strategic planning, development and growth of diversified non-auto floor plan products, including recreational vehicles, marine, powersports, salvage, daily rental, and others. Ford's extensive background and experience in commercial finance will be a tremendous asset in leading our product diversification strategies, the company said.