Our friends at Black Book are starting to see some softening in the red hot pre-owned truck market. They are not sounding the alarm just yet but today voiced concern that a slowdown may be on the horizon.
This is important as Black Book has editors strategically placed throughout the country. Each monitors wholesale vehicle auctions and update values in 14 truck and 10 car segments daily. Each day, these values are compiled, reviewed and adjusted, making Black Book the most accurate and responsive wholesale data source in the market.
“I’ve traveled to Atlanta and met with their editors and executive management,” says noted industry expert David Ruggles of the Ruggles Report. “Without a doubt, they are on top of the wholesale market unlike anyone else.”
Auto dealers with a high supply of late model, pre-owned trucks may be well served to hold off on purchases until the market shakes out and get aggressive with their sales, pricing and advertising to move these units off their lots.
As indicated above, there is no cause for alarm - yet. But you don't want to find yourself holding the bag.
Read the full article at: http://www.autoremarketing.com/ar/news/story.html?id=10139
Tuesday, September 29, 2009
Thursday, September 17, 2009
Life Truly is Stranger Than Fiction
The Coconut Telegraph has been rumbling about this for a week or so, but Chrysler’s announcement today they are re-entering leasing borders on the sublime.
Just 13 months after they led the mass exodus from consumer vehicle leasing, they announced today leases are again available on all 2010 Chrysler, Dodge and Jeep vehicles.
Our friends at AutoRemarketingToday have the complete story at: http://www.autoremarketing.com/ar/news/story.html?id=10082. However, here are a few observations:
BING-O!
All too often dealers look at leasing a course of last resort. Can't get the customer into the car they want with a traditional loan? Then let's put them in a lease!
Horsefeathers.
If more dealers would take the stance that a lease is THE vehicle to put consumers in the right car, for the right payment on a SHORTER term, we would all be in much better shape.
The consumer gets a vehicle that makes sense for their budget and their driving habits, the dealer can make an honest profit and get the customer back in three years rather than five (or more) and everyone wins. CSI goes up and the dealers get more referrals.
How dealers and banks can continue to pursue 72 and 84 month plus loans just floors me.
Nevertheless, those of us who hang our hat in the leasing marketplace welcome you back Chrysler. Here’s hoping the banks that followed you out so quickly, take your lead and jump back in too.
Just 13 months after they led the mass exodus from consumer vehicle leasing, they announced today leases are again available on all 2010 Chrysler, Dodge and Jeep vehicles.
Our friends at AutoRemarketingToday have the complete story at: http://www.autoremarketing.com/ar/news/story.html?id=10082. However, here are a few observations:
- This is great news for leasing in general.
- Here’s hoping they FINALLY learn from the past and don’t get aggressive on residuals OR rebates. Unfortunately, I’m not going to hold my breath.
- GMAC is underwriting the program. I realize GMAC took over Chrysler Financial earlier this year, but I still look at it and say, “WTF? Over.”
- In the wake of the announcement, they also stated they are now offering 72 month 0 percent financing or $4,500 rebates on select 2009’s. Again, “WTF???” If you're going to get back into leasing, get back into it!
BING-O!
All too often dealers look at leasing a course of last resort. Can't get the customer into the car they want with a traditional loan? Then let's put them in a lease!
Horsefeathers.
If more dealers would take the stance that a lease is THE vehicle to put consumers in the right car, for the right payment on a SHORTER term, we would all be in much better shape.
The consumer gets a vehicle that makes sense for their budget and their driving habits, the dealer can make an honest profit and get the customer back in three years rather than five (or more) and everyone wins. CSI goes up and the dealers get more referrals.
How dealers and banks can continue to pursue 72 and 84 month plus loans just floors me.
Nevertheless, those of us who hang our hat in the leasing marketplace welcome you back Chrysler. Here’s hoping the banks that followed you out so quickly, take your lead and jump back in too.
Wednesday, September 9, 2009
Latest Buy Bid at AutoBidsOnline
If you are a Honda Dealer in the Houston Metro area, please consider the following. This prospect has paid $19.99 to submit their bid so they are serious about buying today! Contact me at jcook@autobidsonline.com if you are interested.
2010 Honda Odyssey 4dr Wgn Touring w/RES & Navi
Exterior Color : not specified / Interior Color : not specified
Options( TAFFETA WHITE, STANDARD PAINT, IVORY, SEAT TRIM)
MSRP - $40,755.00
Dest - $710.00
Total MSRP - $41,465.00
Invoice - $36,902.60
Dest - $710.00
Total Invoice - $37,612.60
Bid - $37,500.00
StyleID - 318967
VehicleID - 821
2010 Honda Odyssey 4dr Wgn Touring w/RES & Navi
Exterior Color : not specified / Interior Color : not specified
Options( TAFFETA WHITE, STANDARD PAINT, IVORY, SEAT TRIM)
MSRP - $40,755.00
Dest - $710.00
Total MSRP - $41,465.00
Invoice - $36,902.60
Dest - $710.00
Total Invoice - $37,612.60
Bid - $37,500.00
StyleID - 318967
VehicleID - 821
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