What You Need To Know When Setting Up A Used Car Business
Auto Service World
JUNE 29, 2024
If you get your strategy right, choosing to set up a used car business can be a rewarding decision for your finances.
Electric Vehicles in the Used Car Market: How Car Dealers Are Adapting
Auto Service World
OCTOBER 26, 2024
The automotive industry is undergoing a generational transformation with the continued use of electric vehicles (EVs). As more consumers embrace the benefits of EVs, the used car market is also seeing an influx of these eco-friendly vehicles.
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Electric Vehicles in the Used Car Market: How Car Dealers Are Adapting
Auto Service World
OCTOBER 5, 2024
The automotive industry is undergoing a generational transformation with the continued use of electric vehicles (EVs). As more consumers embrace the benefits of EVs, the used car market is also seeing an influx of these eco-friendly vehicles.
Where to Find the Most Trusted Used Car Dealers in Brisbane
Auto Service World
OCTOBER 12, 2024
This guide will walk you through the process of finding the most reliable used car dealers in River City, ensuring you drive away with a great vehicle and peace of mind. The Qualities of Trustworthy Dealers Knowledge is power in the used car market, and understanding the local landscape is your first step towards a successful purchase.
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To avoid getting pancaked by used-car price hikes, shoppers wise to stop waffling on purchase
Auto Remarketing
MAY 28, 2024
When that shopper is waffling over whether the timing is right to buy a used car, here’s a selling point a dealer can pass along to that indecisive consumer, courtesy of CARFAX. As it stands, retail prices for used vehicles have slowed significantly year-over-year: used SUVs are down 9.5%
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Car Financing: What Are The Pros And Cons Of PCP Finance?
Motor Verso
MAY 26, 2024
Recent research shows that 92% of UK car owners use car financing to buy their vehicles. As of 2023, Brits… Read more » The post Car Financing: What Are The Pros And Cons Of PCP Finance? appeared first on Motor Verso.
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Stop Scrambling for Used Car Inventory
AutoSuccess
JULY 9, 2024
It’s no secret that dealers are facing a complex set of challenges when sourcing used car inventory. While supply constraints have been a major focus, it’s also important to consider how demand dynamics are influencing the used car market and complicating dealerships’ ability to source inventory effectively.
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Consumers might intend to buy new, but reality pushes them to used-car market
Auto Remarketing
OCTOBER 29, 2024
The difference between the price of a new car during the third quarter and that of a used car is enough money to … well … buy a car. Specifically, new vehicles sold for an average of $47,542 during Q3, which is $20,365 higher than the average price buyers paid for used cars ($27,177), according to the Edmunds data.
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Used car prices fall again in July, down nearly 20% from pandemic highs
Autoblog: Repairs
AUGUST 14, 2024
Vehicle prices continued a downward trend in July — the most of any major category in the Consumer Price Index (CPI) over the last year as the car market continues its return to "normal" following pandemic-fueled inflation. Used car prices fell 2.3% New car prices fell 0.2% Prices for used cars and trucks are still 16.9%
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Online Used Car Dealer Vroom Shutting Down Leaves Customers In The Lurch
Jalopnik
JANUARY 29, 2024
We’ve known for a while that things weren’t going great for the online used car dealer Vroom. Back in 2022, it was sued by the state of Texas for its shady sales practices and later that year managed to lose more than $50 million in a single quarter. Now that Vroom has finally shut down, seemingly for good, Click2Houst… Read more.
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Most Used Cars Are Getting Cheaper Except For Trucks
Jalopnik
OCTOBER 12, 2023
Used cars are finally getting a little cheaper, according to Cox Automotive. After what seemed like an interminable series of price hikes across all vehicle segments, used prices are going down. The only caveat is that pickup trucks are trending in the other direction and are getting slightly more expensive instead.
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How to keep your independent car dealership competitive
Solera
AUGUST 8, 2023
Industry Trends in 2023 While the used car boom that sent prices sky high may be winding down, there is still a large demand for quality used vehicles. Offer financing options: Just like a variety of cars, customers like a variety of financing options. Here are some ways they do just that.
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Affordability concerns weigh heavily on consumers and could impact the industry’s recovery
Auto Remarketing
OCTOBER 3, 2023
High vehicle prices and interest rates are delivering an economic one-two punch that is being felt throughout the used-vehicle ecosystem. Think consumer financing and monthly payments, dealership inventory and certified used vehicles, and residuals and repossessions. 6-9 in Scottsdale, Ariz.
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What’s The Best Used Car Value Right Now?
Jalopnik
OCTOBER 17, 2024
In today’s volatile automotive market, finding the best used car value can feel like searching for a needle in a haystack. With new car prices pushing the boundaries of belief, and used car prices constantly fluctuating, it’s time to ask the Jalopnik audience what they think the best value on the used market is.
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Five Questions Shady Used Car Dealers Don’t Want You To Ask
Jalopnik
OCTOBER 25, 2023
The pre-owned car market is still in a weird place. Some segments like electric vehicles have some hefty savings , but most pre-owned cars are still selling for inflated prices. If you happen to come across a used car that seems too good to be true, make sure the dealer can answer these questions. Read more.
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Meet the ’40 Under 40: Industry’ honorees for 2024
Auto Remarketing
SEPTEMBER 12, 2024
In this installment of Auto Remarketing’s 40 Under 40 franchise, we feature the 2024 honorees in the “40 Under 40: Industry” program, which is sponsored by IAA and focuses on consignors, auctions, auto finance, vendors, tech companies, associations and other players within the used-car space.
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Worst Car Selling Experience And Best Used Cars In This Week's QOTD Roundup
Jalopnik
OCTOBER 26, 2024
We asked you last week to think about the best value on the used market is right now. Finding good deals on used cars is tough; it’s a balancing act between something that you want to drive and something that you trust not to go wrong and create a landslide of expensive repair bills.
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Now Is A Really Good Time To Get A Deal On A Used Car
Jalopnik
AUGUST 16, 2024
The used car market has been an up-and-down mess since at least 2020, with reduced new car inventory pushing more buyers into pre-owned purchases , which reduced the revolving supply of trade-ins. This perfect storm of pandemic-induced chip-shortage used car inflation appears to finally be subsiding.
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Meet the ’40 Under 40: Industry’ honorees for 2023
Auto Remarketing
OCTOBER 4, 2023
In this installment of Auto Remarketing’s 40 Under 40 franchise, we feature the 2023 honorees in the “40 Under 40: Industry” program, which is sponsored by IAA and focuses on consignors, auctions, auto finance, vendors, tech companies, associations and other players within the used-car space.
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Huge Sub-Prime Auto Lender Makes Big Bucks Repossessing Vehicles Using Shady 'Loan Extensions'
Jalopnik
SEPTEMBER 12, 2024
When a prospective buyer of a used vehicle from CarMax doesn’t qualify for financing, they’ll likely be offered a loan from Exeter Finance as a lender of last resort.
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Lane watch: What only appreciating vehicle segment might be saying about market
Auto Remarketing
JULY 30, 2024
Perhaps it’s jumping to conclusions, but the only segment in Black Book’s tracking to squeeze out a wholesale value uptick last week might relate to vehicles in position to solve one of the pressing current challenges to get cars financed and retailed.
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These Brands Make The Best Used Cars According To Consumer Reports
Jalopnik
AUGUST 30, 2024
When shopping for used cars , buyers tend to care the most about price, fuel economy and reliability, because, well, duh. You need to be able to afford your car, you don’t want to spend a fortune filling it up and you just want it to work.
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Used Car Prices Falling Doesn’t Necessarily Mean A New Car Can't Still Be A Better Deal
Jalopnik
AUGUST 20, 2024
Used car prices are s teadily dropping, mostly due to oversupply , and while electric and luxury vehicles are being hit the hardest, other segments don’t always see a big savings gap between new and used. Read more.
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This Might Be The Worst Used Car Buying Advice I’ve Ever Seen
Jalopnik
NOVEMBER 14, 2023
I’ve been blogging about car buying for about ten years, and I’ve seen some pretty bad takes over that time when it comes to giving consumers advice. However, this most recent one might take the cake with the overall thesis that certain really popular models make for good used car deals because they don’t depreciate… Read more.
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Price declines slowing in wholesale market, accelerating in retail
Auto Remarketing
FEBRUARY 1, 2024
CARFAX report: New-car deals help fuel price drops As opposed to the wholesale market, used car retail price decreases actually accelerated in January, according to CARFAX’s latest report on that market. The CARFAX report attributed that trend to new-car inventory, which the report said is at its highest level in three years.
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Honda Will Lease You A Used Car Because Everything Is Too Expensive And We Live In Hell
Jalopnik
DECEMBER 15, 2023
Honda is going to start offering a leasing program for its certified pre-owned vehicles because new car prices are just way too high at this point. The program is beingv aimed at buyers who want to keep their monthly payments low and don’t have the upfront cash for a big down payment, according to a statement from Honda Read more.
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Average New Car Is Now $20,000 More Expensive Than The Average Used Car
Jalopnik
OCTOBER 30, 2024
It’s no secret that the pandemic threw a wrench into a whole lot of people’s car-buying plans. Things have largely recovered , and prices aren’t as crazy as they used to be, but if car buyers haven’t been keeping a close eye on the market, they could definitely still be in for a shock the next time they walk into a… Read more.
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Navigating Inflationary Pressures on Vehicle Ownership: A Guide for Auto Dealers
AutoSuccess
SEPTEMBER 6, 2024
Higher rates lead to increased monthly payments, making vehicle financing more challenging. According to Cox Automotive’s June 2024 Auto Market Report, the average new car loan interest rate is 10.1% for used car loans. This is a significant increase from two years ago, when the average new car interest rate was 4.1%
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Used Car Dealer Allegedly Sold One Wheelchair-Accessible Van To 13 People
Jalopnik
DECEMBER 26, 2023
Edward Scott Rock, a Philadelphia used car dealer , was arrested last week by federal authorities on charges of mail and wire fraud. Rock is accused of accepting payments from around 120 buyers across 36 states but failing to deliver a vehicle. Most of the vehicles involved were accessible for seniors, wheelchair users … Read more.
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Don't Expect Used Car Prices To Drop In 2025
Jalopnik
DECEMBER 27, 2024
Happy Friday! Its December 27, 2024, and this is The Morning Shift , your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. Read more.
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Most And Least Reliable Used Cars Plus A Volkswagen Passat W8 That Will Break Your Heart In This Week's Buying Roundup
Jalopnik
AUGUST 31, 2024
It’s a well-known fact that cars are money pits , especially brand new cars that lose a large portion of their value the instant they’re driven off the dealer lot. Buying a used car will save you money , since the first owner took the brunt of depreciation, but depending on the condition of the used car you buy it can… Read more.
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Edmunds report finds car shoppers’ perceptions lead to sticker shock
Auto Remarketing
SEPTEMBER 13, 2024
“This means that consumers are likely coming back to the market with skewed perceptions of affordability based on their last car-shopping experiences.”
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The Hyundai Palisade and Kia Telluride Are Excellent Used Car Values Under $35,000
Jalopnik
DECEMBER 9, 2024
You probably remember when the Hyundai Palisade and Kia Telluride were some of the hottest family crossovers on the market. Demand far outpaced supply, and many customers paid well over MSRP for these three-row SUVs. With upgraded versions on the horizon, its a good time to remind you that you dont need to spend a Read more.
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New Benchmark Data Suite Using KPIs for Dealer Decision Making
AutoSuccess
APRIL 29, 2024
The software suite includes a user-friendly dashboard that offers analysis and reporting across key dealership areas including digital marketing, inventory retailing, lead handling, sales performance and finance performance.
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Optimizing the PDI Process: Key to Fast New Car Sales in a Surplus Market
AutoSuccess
SEPTEMBER 3, 2024
During the coronavirus pandemic, inventory was historically low, customers frequently paid above MSRP and financed cars at higher interest rates and for longer periods of time. This in turn has resulted in a surplus of new cars sitting on lots. The PDI process ensures new vehicles meet manufacturer standards before delivery.
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What’s The Best Used Car To Buy Instead Of The Few Remaining New Cars Under $20,000?
Jalopnik
SEPTEMBER 27, 2023
By all accounts, entry level cars from the likes of Saturn , Geo and Daewoo weren’t exactly hidden gems or the best bargains around. But it was nice to know that there were cars people could actually afford straight out of college or on minimum wage. New cars that cost under $20,000 are scarce now; in light of this,… Read more.
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Everyone Is Underwater On Their Car Loans As Values Plummet
Jalopnik
MARCH 15, 2024
Every year, the price of a new car ticks ever upwards. Now, there’s a new complicating factor: Used car prices are falling, meaning folks are getting less for their over-leveraged trade than ever. Loans get longer , yet monthly payments are always on the rise , leading to an epidemic of folks underwater on their loans.
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Report shows consumers ‘speaking with their wallets’ on affordability concerns
Auto Remarketing
OCTOBER 11, 2024
The car-buying public has a message for the used-car industry, and it’s this: We don’t want to pay too much for a vehicle. That message was clearly conveyed in CarGurus’ latest Quarterly Review, which found sales of lower-priced used cars rising and high-end vehicle sales falling. “As
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COMMENTARY: 8 tips to be adaptive & thrive in a down market
Auto Remarketing
NOVEMBER 17, 2023
Car dealerships can capitalize on this trend by emphasizing the quality and reliability of their certified pre-owned vehicles. This not only attracts budget-conscious buyers but also allows dealers to profit from higher margins on used cars. therefore getting them cheaper.
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Are Cars From A Couple Years Ago Really More Desirable Than The Latest New Cars?
Jalopnik
JUNE 7, 2024
If you’ve needed to buy a car sometime in the last four years, you understand how rough it’s been out there. Dealers were only stocking the highest trim levels and still adding markup, used car prices were through the roof and availability was limited.
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TrueCar Launches the New TrueCar+
AutoSuccess
JULY 18, 2024
TrueCar+ advances the company’s mission to eliminate the traditional complexities and uncertainties associated with buying a car, providing consumers with a more informed and straightforward journey from search to a completely online purchase, the release stated.
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COMMENTARY: 7 ways to increase profitability as independent car dealer in 2025
Auto Remarketing
NOVEMBER 25, 2024
While the coming year is showing positive signs for used-dar dealers, we’ve learned that the future is never certain. No matter what curveballs are around the corner, there are key strategies used-car dealers should consider to consistently boost profitability. That’s when financing becomes more important.
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Consumer Reports Says These Cars Are Currently The Worst Deals
Jalopnik
FEBRUARY 19, 2024
auto industry has largely recovered from the supply chain issues that drove the cost of new cars through the roof and brought the price of used cars up along with it. Not all new cars are selling below MSRP now, but enough are that you can generally expect to find a deal if you’re willing to shop… Read more.
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COMMENTARY: AI and auto — perfecting pricing strategies
Auto Remarketing
NOVEMBER 2, 2023
So in this article, we will explore how AI tools can help used-car dealers stay ahead of the trends with advanced sales data analyses, in addition to investigating real-world examples of AI as it has been applied to provide dynamic, more effective prices.
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