Activity in Auction Lanes Indicated Better than Expected Market

Ricky Beggs Editorial Director Black Book While it’s usually a time of the year with more passive buyers and generally increasing depreciation of values levels, the recent activity within auction lanes indicates a better than expected market. Interest was more directed at small, fuel-efficient cars, smaller utilities, and pickups. A $.15 per gallon rise in […]

Dealers Seeing More Consumers Switching from New to CPO

Art Spinella President CNW Research During the first six months of 2013, nearly 6% of new car intenders have moved to used; about 60% of buyers of CPO vehicles were originally planning on buy new rather than used. For full-year 2013, it will mean more than 1.2 million potential new-car buyers will be switching to […]

Ricky Beggs on the Used Car Market – July 22, 2013

Beggs on the Used Car Market – July 22, 2013

Retail Automotive Summary – July 2013

Independents Gain Skills with Subprime and BHPH Customers

by Jon LeSage, Editor of Used Car Market Reports, the Industry’s Only Weekly Summary of Vehicle Remarketing

Independent dealers have seen enormous growth in two segments in recent years – subprime loans and Buy Here Pay Here (BHPH). Serving these customers with the right used vehicles has required enhanced skillsets in buying and selling the right aged vehicles, and working with customers to avoid dealing with big problems.

Check out perspectives offered by Chris Macheca, Executive VP of Operations at PassTime USA on compliance issues and how to best deal with the annoyance of people tampering with GPS tracking devices. High-risk customers offer huge opportunities and potential problems to manage the right way.