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Hello and welcome to this week’s edition of Beggs on the Used Car Market with data and insights from Ricky Beggs and Black Book. By the time you are watching or reading this used car market insight, whether you are a fan of college football or not, you either attended a game or at least watched some on TV. This great passage of fall has finally arrived. Hopefully you were satisfied with the…Continue
Added by Black Book on September 2, 2014 at 6:16am — No Comments
One of the advantages of being a LotLinx partner is that we get to promote a product that makes sense to us. That might seem like a no-brainer; don't all companies only sell products that they believe in? The sad reality that I've learned while working on the vendor side of the business is…Continue
Added by JD Rucker on September 1, 2014 at 11:40pm — No Comments
Your customers love to look at pictures. We don't need to see a study to know this. It's part of human nature. With that said, the studies and research all point to the same thing: more and better pictures yield more clicks, leads, and sales as a result.
We discussed this in detail on our blog…Continue
Added by Jim Jabaay on August 31, 2014 at 3:17pm — No Comments
Conquest sales can be exhilarating. Let's face it, there's something medieval, even carnal about the concept of taking sales from your competitors. Even the action itself has an incredible name. "Conquest" - it sounds epic and it's something that we all want to do.
It's more than…Continue
Added by Jon Lamb on August 31, 2014 at 3:08pm — No Comments
It’s amazing. And I’ve seen it a hundred times. They don’t realize they’re doing it but they still do it. That’s for sure. I heard a salesman with his chest puffed out (as it should be) reliving the story of a terrific job done with the happy new owner of a car. The salesman DID do a great job. These…Continue
Added by Jeff Sterns on August 31, 2014 at 3:00pm — No Comments
When it comes to negotiating with a car dealer, what’s the comfort level of men and women? Swapalease.com, the nation’s largest online car lease marketplace, was interested to take the pulse of car shoppers around the country. According to their findings, women are now warming up to the negotiation process. Click here to see the complete findings.
An online survey was presented to more than 1,000 drivers…
Added by John Sternal on August 27, 2014 at 12:59pm — No Comments
Wantalease.com, the nation’s first online car lease marketplace for new lease deals, says Buick and Toyota highlight some of the best car lease deals leading up to the Labor Day auto sales. The Toyota RAV4 and Avalon lease offers have fallen -15.6% and -12.1%, respectively, since July. Meanwhile, the Buick Regal Premium and Lacrosse lease offers represent some of the most aggressive deals for national customers on the site. Click…Continue
Added by John Sternal on August 27, 2014 at 11:29am — No Comments
One of the many byproducts of training in so many dealerships is that you get to observe all the different ways people do things. Like how they answer the phone or talk to a customer in the service drive.
Over the years, I’ve made it a point to take note of some of the ways Advisors and Managers blow their customer up in the service drive and I thought I would share with you my observations and my Top 5.…Continue
Added by Leonard Buchholz on August 26, 2014 at 2:33pm — No Comments
Hello and welcome to this week’s edition of Beggs on the used Car Market, with data and insights on the used car market from Ricky Beggs and Black Book. What a week it has been with the editors being tuned into the online activity and getting on the physical auction lanes, while also getting to touch another majorly redesigned full-size utility, the 2015 Ford Expedition. We also had some interesting discussions within the industry regarding…Continue
Added by Black Book on August 25, 2014 at 8:43am — No Comments
Are you in the market to buy a new or used car? If you don’t have the best credit history and are on the lookout for bad credit car loans, you may have resigned yourself to paying more than the average buyer. In truth, though, you could still save money, even on bad credit car loans, by turning to the…Continue
Added by Mark Jacobs on August 20, 2014 at 7:48pm — No Comments
More than 37 million vehicles have been recalled so far in 2014. Will these recalls have an adverse impact to lender portfolios? I’d like to see if you have time to review new research from Black Book Lender Solutions that takes a closer look at what lenders might expect. Click here to download the report.
While safety has understandably been the main concern with these and most…Continue
Added by Black Book on August 20, 2014 at 6:00am — No Comments
Swapalease.com, the nation’s largest car lease marketplace, reports lease credit approvals during the month of July were 81.0%, the highest monthly level of the year and reversing a trend that saw continuous decline since January largely due to an increase in the number of SubPrime credit applicants.
Despite the high marks in July, Swapalease.com attributes the growing number of credit declines in 2014 to a rising number of car lease shoppers with SubPrime credit profiles seeking…
Added by John Sternal on August 19, 2014 at 8:33am — No Comments
Welcome to this week’s edition of Beggs on the Used Car Market, with insights from Ricky Beggs and Black Book. We trust each of you had a busy and profitable week. Our team of editors, analysts and survey personnel were on the lanes and online gathering market data and studying loads of actual transactions, while reporting the current market.
By the end of the week the summaries of data showed us a…Continue
Added by Black Book on August 19, 2014 at 6:10am — No Comments
When it comes to marketing (and just about everything else), there are right-brained thinkers and left-brained thinkers. The right-brain thinkers are more subjective and often more creative and would not like the concept of social media having two options. It makes it too black and white. Left-brain…Continue
Added by JD Rucker on August 12, 2014 at 5:57pm — No Comments
Welcome to this week’s edition of Beggs on the Used Car Market, with insight and analysis from Ricky Beggs, Editorial Director of Black Book.
During the past week new car sales reports were released and this portion of the industry continues to prosper. Within the new car market there has been for the past year or so, and is currently, a steady stream of new models, major…Continue
Added by Black Book on August 11, 2014 at 1:29pm — No Comments
According to Black Book® data, the average price of a used vehicle for model years 2009-2013 continued a pattern of accelerating depreciation, with -1.5% overall value change in July compared with June activity of -1.0%. Domestic cars changed -2.5%; import cars changed -1.6%; domestic trucks changed -1.5%; and import trucks changed -1.0%. Average pre-recession depreciation is historically between -1% and -2% monthly, and Black Book expects overall 2014 depreciation of -13.5%.…
Added by Black Book on August 7, 2014 at 6:03am — No Comments
From a dollars and cents standpoint, is it now better for your wallet to lease a car or finance one? Swapalease.com, the nation’s largest online car lease marketplace, analyzed an apples to apples to apples comparison of three different car-shopping scenarios using the same vehicle in order to determine where the most savings would be found. Click here for the full data chart.
The three different scenarios included financing…
Added by John Sternal on August 5, 2014 at 8:34am — No Comments
An ideal sales team of veteran salespeople would allow each dealership to maximize revenue. In reality, sales…Continue
Added by Stephanie Young on August 4, 2014 at 8:44am — No Comments
Hello and welcome to this week’s edition of Beggs on the Used Car Market, with data and analysis from Ricky Beggs of Black Book.
Another month has passed and the overall movement this past week took pretty much the same direction as the previous four weeks. About the only difference is the level of declining amount continues to get larger week over week.
Added by Black Book on August 4, 2014 at 8:24am — No Comments
One of the worst parts about being a vendor in the automotive industry is that we often take things for granted. When something is commonplace amongst vendors, we often assume that the dealers are very familiar with them as well. Unfortunately, this is not always the case.
Case in point: the…Continue
Added by JD Rucker on August 3, 2014 at 10:44pm — No Comments