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December 21, 2015

ON THE WEB: Shoppers Will Pay for Certified Pre-Owned

www.usedcarnews.com

1-800-554-1026

2015 MOVERS AND SHAKERS

According to a survey by Edmunds.com, 88 percent of the 2,017 adults polled said that if they were to consider a used car, they would be willing to pay more for a certified preowned vehicle. Edmunds.com data estimates that CPO vehicles are $1,400 more expensive, on average, than similar non-CPO vehicles.

Wholesale Prices End Streak of Increases

Wholesale used vehicle prices ticked down in November after increases in each of the previous five months. The Manheim Used Vehicle Value Index stood at 125.1 for November, down from 125.3 in October.

Small Businesses Face Large Cost Increases

Small businesses continue to face huge cost increases and struggle to navigate significant confusion and complexity under the Affordable Care Act, according to a recent survey.

Rush - Dated Material

Richard Blumenthal The Connecticut Senator has made auto recalls one of his personal crusades and this led to an attempt to add an amendment to the Highway Bill that would have prevented dealers from selling vehicles with unrepaired recalls. The amendment was defeated, although the final version of the law does ban dealers from renting vehicles with unrepaired recalls. After trade associations helped defeat his amendment, Blumenthal accused car dealers of putting their economic concerns before the safety of the general public.

Don Foss The auto finance pioneer was inducted into the National Alliance of Buy-Here, Pay-Here Dealers Hall of Fame last spring. The son of a car dealer, Foss has been involved with the used-car business for almost 50 years. The honor doesn’t mark the capping of his career, though, as Foss is in the middle of growing a new venture, Carite, a chain of lease-here, pay-here stores he plans to grow across the nation. Foss remains chairman of the board of Credit Acceptance Corp, the finance company he founded. Credit Acceptance was on pace to fund 300,000 deals in 2015.

David Vignes KAR’s executive vice president of enterprise optimization said he “freaked out” the first time he visited an auto auction and realized what a dangerous place it could be. Vignes set about using his experience from working at The Walt Disney Co. to create a training program for KAR employees to improve workplace safety, The program centers around a mascot named Safe T Sam and offers targeted training for different positions.The National Auto Auction Association has adopted the program and is making it available to all its members.

House Passes Bill to Hold CFPB Accountable for Costs The U.S. House of Representatives recently voted to rein in the Consumer Financial Protection Bureau’s oversight of automotive finance. The Reforming CFPB Indirect Auto Financing Guidance Act passed by an overwhelming majority, 332-96. The bill challenges the bureau’s claim of racial discrimination on the part of dealers. It also requires the CFPB to open up its rule-making process and study the costs and impacts of the guidance to consumers and women-owned, minority-owned and small businesses. “If the CFPB truly cares about policies in the best

interests of consumers, the agency should reissue guidance that is clear, fair and respects due process,” said Rep. Frank Guinta, the bill’s main sponsor. “My bill would open the CFPB’s data to neutral experts and the public, solicit comments according to normal procedure, and require more economic study of the CFPB’s rush to regulate an important economic sector.” The bill now heads to the Senate, where it will face opposition from Sen. Elizabeth Warren, the CFPB’s main architect. Also, President Obama has threatened to veto any bill that makes fundamental changes to the way the CFPB operates.

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12/10/15 10:33 AM


USED CAR NEWS



Quality Dealer Tries to ‘Do Things the Right Way’ By Jeffrey Bellant

The Indiana Independent Automobile Dealers Association named Whitewater Motors as its 2015 “Joe Krier” Quality Dealer of the Year. Mike Ross, president of Whitewater Motors, accepted the award on behalf of the dealership, during the Indiana IADA’s 28th Anniversary event. Whitewater Motors has locations in West Harrison, Ind., and Milan, Ind., in the southeast part of the state. Ross’s father, Gary, and a business partner opened the dealership in 1976, but Mike Ross runs the business today. Ross began working in the dealership cleaning cars while he was still in high school. He later worked in retail sales, F&I, purchasing vehicles and in the wholesale side of the dealership. The dealership sold more than 1,600 vehicles in 2015. It uses conventional financing for its customers. “We sell a lot of repeat and referrals,” Ross said. “So it’s

pretty neat when people come back time after time.” The dealership moved into a former Chevrolet store in West Harrison last May. Whitewater Motors employs more than a dozen employees. The dealership services its own cars, but is starting to offer outside service. Debbie Andersen, the executive director of the Indiana IADA, said, “integrity, teamwork, honesty and leadership are the business principles by which Whitewater Motors operates. “The dealership and the Ross family give generously to the local community, charities and foundations.” She said Whitewater Motors is not only praised by its customers and community, its competitors also respect it. “We just try to do things the right way,” Ross said. “I was excited (to win the award), but we never toot our own horn. We didn’t grow up like that. We try to bend over backwards for people.”

Photo Courtesy of Whitewater Motors FAMILY AFFAIR: Mike Ross (holding plaque) poses with family after winning the Indiana State Quality Dealer award. He will advance to the National Quality Dealer competition in Las Vegas next summer.

For example, a customer had written a bad review because someone failed to follow-up over a car issue. Ross called the customer and asked what it would take to make it right. The customer asked for $1,000. Ross sent him out a check and the customer was shocked that Ross actually sent the money.

The Indiana IADA Quality Dealer is chosen based on several qualifications, according to the association. The dealership must be consumer-oriented; the dealer must have a record of good business decisions based on honesty and integrity. Also, the dealer must represent themselves as a civic leader within the community.

“Whitewater Motors represents all of these attributes,” stated a release from the Indiana IADA. The business also has an A+ rating from the better Business Bureau. Ross will represent the dealership in the 2016 National Quality Dealer of the Year competition next summer in Las Vegas.

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12/11/15 4:55 PM


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NEWS BRIEFS Manheim Reorganizes Operations

Manheim announced plans to implement a simplified new market structure. Effective Jan. 1, the company will segment its physical operating locations into two divisions: Local & Mobile and National. To lead the Local & Mobile auction division that will serve local franchise and independent dealers, Manheim has selected Alan Lang as division vice president. Lang joins Manheim from NextGear Capital where he serves as senior vice president of operations and is responsible for business development strategies across all business segments. These local sites include the Go Auto Exchange. Mike McKinney has been selected to lead the National division as division vice president. McKinney joined Manheim in 1993 and is currently regional vice president for Manheim’s East Operations. The National division will continue to offer a full spectrum of physical and digital services to Manheim dealer clients from designated Northeast, Southeast, Central and West regions. In many cases, these locations will also support the company’s Vehicle Solutions. This includes

percentage of vehicles with a floor price. A color-coded interface helps draw the eyes of managers, field reps, coordinators, and others to areas that need attention. The data in the Sale Calendar is also hyperlinked, so users can AutoIMS Adds Sales Analysis Tool drill in to customizable reports of AutoIMS (Auto Auction Services the details for each calendar entry. Corp.) announced a new Sale Calendar module designed to give consignor users of AutoIMS.com an Spireon Moves into Connected Cars at-a-glance view of upcoming and Spireon Inc. debuted Kahu, a new recent auction sales. service sold exclusively through In addition, through the Sale Cal- used-car dealers to offer customers endar, AutoIMS users can now take a way to link their vehicle to their advantage of “Sale Snapshot� tech- smartphone and interact with their nology, which shows the run vs. sold car after purchasing. percentage for each recent auction The Kahu service includes an insale. This system enhancement, stalled device on the car that conavailable to all AutoIMS member nects with the car’s location and trip consignors at no charge, was one data and then relays all of that inforof the top five ideas to emerge from mation to a user’s smartphone app. Project Client Insight – an AutoIMS The Kahu app then displays inforconsignor advisory board. mation in real-time, providing acIn this deployment of the Sale cess to theft recovery services, drivCalendar, users can see recent and ing alerts and more. upcoming sales in a familiar calendar format, organized intuitively by auction. The Sale Calendar shows Go Begins Pool Payments the number of vehicles sold and Go Financial announced that its sale percentage for previous auction first back-end pool payments began days, and number of vehicles set for in November. upcoming sale days, including the Some of the early GO dealer-partits newly created Retail Solutions offering, a service that helps dealer clients focus on their usedcar operations, showrooms and service bays while Manheim delivers front-line ready vehicles.

ners are receiving backend pool payments based on the performance of their loans. Many of Go’s other early dealer partners with closed pools chose to take advantage of Go’s “cash out now� option, whereby these dealers accelerated the payout of their pools years ago rather than waiting for their pools to mature.

Internet Bank Expands Auto Finance

Bank of Internet USA, announced the implementation of its auto lending platform, a pilot program launched in April tailored to address the growing needs of franchised automobile dealerships. The pilot program was primarily focused on select dealers in Southern California. The second stage of the pilot, which will expand to other markets in California and to other states, is currently under way. C R O S S WO R D by Myles Mellor

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Published By General Media LLC USED CAR NEWS (ISSN 1555-7413) is published at 24114 Harper, St. Clair Shores, MI 48080 Phone: 586-772-5200 or 800-794-0760 Fax: 586-772-9400 www.usedcarnews.com Charles M. Thomas - Founder (1947-2002) Lynda R. Thomas, Publisher Colleen Fitzgerald, General Manager Columnist: Tony Moorby

Editorial: Ted Craig, Managing Editor Jeffrey Bellant, Staff Writer Contributing Writers: Ed Fitzgerald, Jenny King, Sheila McGrath Advertising: Shannon Colby, Account Manager Megan Frump, Account Manager Marie Hingst, Account Manager

Circulation: Helen Thomas Production: Josie Godlewski, Media Manager Jessica Wolski, Graphic Designer Rob Setser, Web Developer/Graphic Designer

(%2( Used Car News is published the first and third Monday of each month. Subscribers: We print advertisements as sent to us by auctions and other advertisers. It is not possible to verify the correctness of listed vehicles in auction ads. Most lists are partial and all lists are subject to last minute changes by auto auctions, so before travelling a long distance for a particular auto auction event, contact the auction by telephone for a fax of vehicles in the sale. Used Car News assumes no guarantees or liabilities concerning the accuracy of

any advertisements. All Rights Reserved. Reproduction in any form is prohibited without the written consent of the publisher. OUR ADVERTISING APPROVAL POLICY Please submit clear, legible copy. Payments from first time advertisers must accompany the insertion order. Distribution is guaranteed by U.S. Postal Carriers. The advertising reservation deadline is 5:00 p.m. Friday, 10 days prior to the issue date. Camera ready ads must be received by noon on Monday prior to the issue date.

Join the Conversation! Visit Used Car News online at www.usedcarnews.com or scan this QR code with your smartphone to be taken directly to the website.

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12/11/15 5:11 PM


USED CAR NEWS



Ford, Lincoln Captives Tops at Satisfying Consumers Automotive finance providers need to focus their efforts on servicing processes, anticipating the changing needs as well as the diversity of their customers to achieve high levels of satisfaction, according to the J.D. Power 2015 U.S. Consumer Financing Satisfaction Study. The study examines the overall customer experience with financing either an automotive loan or lease. The study measures satisfaction among customers who financed or leased their vehicle indirectly through a dealer or directly through an auto finance provider in four key factors: onboarding process; billing and payment process; website; and phone contact. The study is conducted in two vehicle segments: luxury and mass market. Satisfaction is calculated on a 1,000-point scale. “The higher-performing companies do a good job of satisfying their customers throughout the life of the loan or lease,” said Mike Buckingham, senior director of the automotive finance practice at J.D. Power. “Once the new-car smell goes away, it’s the day-to-day handling of the account that is critical, and that’s where some companies fall.” Buckingham noted that most of the providers do a good job in the initial onboarding and loan/lease

setup, but as consumers experience changes in their life or have informational needs, getting quick support from their provider is critical in order to maintain high levels of satisfaction. “The higher-performing brands are adept at satisfying a diverse consumer base that has different needs based on both age and product type,” Buckingham said. Overall satisfaction is 840 in the luxury segment and 817 in the massmarket segment. The loan and lease experience differs by segment, with overall satisfaction in the luxury segment similar for loans and leases (840 and 839, respectively). In contrast, satisfaction in the mass-market segment is significantly higher for loans than for leases (821 and 798, respectively). Ensuring customer satisfaction is critical for finance providers, as more than 96 percent of highly satisfied customers (overall satisfaction scores of 900 points or more) say they “definitely will” use their current lender in the future. Nearly 40 percent of customers indicate they selected their provider based on inputs other than dealer recommendations. Lincoln Automotive Financial Services (873) ranks highest in the

luxury segment for a third consecutive year and performs particularly well in the onboarding process, billing and payment process and phone contact factors. BMW Financial (853) ranks second and Lexus Financial Services (850) ranks third. Ford Credit ranks highest in the mass-market segment with a score of 838. Ford Credit performs particularly well in the onboarding process and phone contact factors. Bank of America (834) ranks second

and Toyota Financial Services (832) ranks third. The 2015 U.S. Consumer Financing Satisfaction Study is based on responses from 19,522 new- and used-vehicle purchasers or lessees who obtained a vehicle loan or lease. The study includes vehicles financed for model years 2012 through 2015. The study was fielded from late July through early September 2015.

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Entrepreneur Moves From Microbrews to Used Cars looking for a

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By Sheila McGrath

From the East Coast to the West Coast, microbreweries seem to be the hot new business everyone wants to be part of. Everyone except West Michigan entrepreneur Randy Perrin, who has been there, done that. Perrin formerly owned a successful craft brewery in the Grand Rapids suburb of Comstock Park before selling it this spring to a Colorado firm. Prior to owning Perrin Brewing Co., he owned Perrin Sportswear, a resort and collegiate apparel company that employed 300 workers. They now own the business – he sold it to them through an employee stock ownership plan. Now Perrin is gearing up for a used-car sales and service business on 14 acres just a mile or so from the brewery and apparel businesses. He filed paperwork to incorporate Perrin Motors Inc. on Sept. 15. Perrin generally avoids media attention and interviews. But James Haney, general manager for the new business, said Perrin has always been “a bit of a car buff.� “He’s quite an auto aficionado and has quite a collection of cars,� said Haney, a former dealership owner. The two have been friends for more than 15 years, and worked on Perrin’s race cars together. Perrin likes to stay busy, and when a business about a mile from the microbrewery closed its doors, he saw an opportunity, Haney said. “When the right property presented itself, he looked around and saw he had the right people he needed for running that type of business.�

Perrin has purchased several adjoining properties for the new business along Michigan Highway 37, which has “awesome visibility� to the 40,000 cars that travel the highway each day, Haney said. Right now, they’re looking at opening with a 4-acre facility in the spring of 2016, with the potential to expand as needed. According to plans filed with the township, the business will be a full service/sales center, including a sixbay repair shop offering everything from oil changes to heavy engine repairs and routine maintenance on cars. They will also sell tires. They plan to display 100 to 150 used vehicles, and envision opening with a staff of eight to 10 employees, with the possibility of up to 25 full- and part-time staff, according to Haney. Haney said they don’t anticipate having trouble with the township. Some of the properties Perrin purchased have long been vacant, including an old apple storage facility. “It’s been an eyesore for the township for years. They’re quite happy about it,� Haney said. “The township has been begging for something to be done with that.� Right now, they’re in the process of renovating the interior of one of the buildings, a former Gregware Equipment Company dealership. They’re shooting for a retro 1950s look on the signage and building, Haney said. “We’re doing some very neat stuff inside,� he said. “It gives you a personal touch. Randy’s taste in design is an integral part of his personality.�

NHTSA Fines FCA $70 Million The National Highway Traffic Safety Administration fined Fiat Chrysler Automobiles $70 million for failure to report legally required safety data. The penalty follows FCA’s admission in September that it had failed, over several years, to provide Early Warning Report data to NHTSA as required by the TREAD Act of 2000. NHTSA uses the data, including reports of deaths and injuries, warranty claims, consumer complaints and field reports of safety issues, to identify and investigate potential defects that may require a safety recall. FCA has commissioned a thirdparty audit to determine the full extent of the reporting failure. “Accurate, early-warning reporting is a legal requirement, and it’s

also part of a manufacturer’s obligation to protect the safety of the traveling public,� said U.S. Transportation Secretary Anthony Foxx. The penalty is included in an amendment to the July 24 consent order NHTSA issued regarding FCA’s administration of two dozen safety recalls. Including the new penalty, the civil penalties from that investigation now total $175 million, with $140 million due in cash and another $35 million in deferred penalties that will come due if the company fails to meet its obligations under the consent order. FCA is the fifth vehicle manufacturer in the past 14 months that NHTSA has penalized for failure to meet early warning reporting requirements.

12/11/15 12:10 PM


Your source for quality, value, selection: Chase. A broad selection of pre-owned vehicles from an industry leader. January 2016 Chase High Lines, featuring Jaguar Land Rover Financial Group

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Manheim Milwaukee January 13 262-835-4436

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Brasher’s Salt Lake AA January 26 801-322-1234

Manheim Orlando January 5, 12, 19, 26 800-337-8491

ADESA Boston January 22 508-626-7000

ADESA Boston January 15, 22, 29 508-626-7000

Columbus Fair AA January 20, 27 614-497-2000

Manheim Pennsylvania January 7, 8, 21, 22 800-777-2053

ADESA Golden Gate Manheim Nashville January 20 January 5 877-386-5004 209-839-8000

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Manheim Atlanta January 6, 7, 21 404-762-9211

Manheim Phoenix January 7, 14, 21, 28 623-907-7000

Manheim Atlanta January 6 404-762-9211

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Manheim Pennsylvania *January 7, 21 800-777-2053

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Manheim Detroit January 7, 21 734-654-7100

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Manheim Milwaukee January 13, 27 262-835-4436

ADESA Lexington January 7 859-263-5163

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Manheim New Orleans January 6 985-643-2061

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Mazda Capital Services ADESA Boston January 15, 29 508-626-7000

Manheim Detroit January 7, 21 734-654-7100

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Manheim Fredericksburg Manheim Pennsylvania January 28 January 8, 22 540-368-3400 800-777-2053

ADESA Houston January 6 281-580-1800

Manheim Milwaukee January 13, 27 262-835-4436

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Manheim Nashville January 27 877-386-5004

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Subaru Motors Finance ADESA Boston January 29 508-626-7000

Manheim Detroit January 7, 21 734-654-7100

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Manheim Fredericksburg Manheim Pittsburgh January 14 January 13 540-368-3400 724-452-5555

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Manheim Milwaukee January 13 262-835-4436

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Manheim Southern CA January 21 909-822-2261

Manheim Denver January 13 800-822-1177

Manheim Orlando January 12 800-337-8491

Southern AA January 13 860-292-7500

Manheim Pennsylvania January 22 800-777-2053

*The The tradename “Subaru Motors Finance” and the Subaru logo are owned / licensed by Subaru of America, Inc. and are licensed to JPMorgan Chase Bank, N.A. (“Chase”). Retail / Loan and lease accounts are owned by Chase. *The Jaguar word mark, the Jaguar logo, and Jaguar Financial Group are trademarks of Jaguar Land Rover Limited and any use by Chase is under license. The Land Rover word mark, the Land Rover and Oval logo, and Land Rover Financial Group are trademarks of Jaguar Land Rover Limited and any use by Chase is under license. Retail / Loan and lease accounts are owned by Chase. *The tradename "Mazda Capital Services" as well as the Mazda and Mazda Capital Services logos are owned by Mazda Motor Corporation or its affiliates and are licensed to Chase. Retail / Loan and lease accounts are owned by Chase. JPMorgan Chase Bank, N.A. Member FDIC ©2015 JPMorgan Chase & Co. (14-723) 10/14

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12/11/15 11:14 AM


 

USED CAR NEWS

YEAR IN REVIEW REGULATION CONTINUES TO CAST CLOUD OVER INDUSTRY Regulatory concerns continued to cast a cloud over the used-car business in 2015, overshadowing continued strength in both retail and wholesale performance. The Consumer Financial

appears to be arbitration clauses. These clauses are used by many buy-here, payhere dealers in their retail installment contracts as a way to block class-action lawsuits.

AutoNation Inc., one of the largest used-car sellers, announced it would voluntarily ground all vehicles with unrepaired recalls. The chain said this would affect 5 percent to 10 percent of its inventory at any time. Despite these challenges, dealers still managed to sell plenty of cars. Edmunds.com estimates that dealers will sell more than 38 million used cars this year. The Manheim Used Vehicle Value Index is expected to finish higher on both an annual average and year-over-year basis. THAT WAS 2015: Clockwise, from above, dealer Darla Booher, owner of Deal Depot in Greer, S.C., won the National Quality Dealer Award; ADESA broke ground for its new Chicago auction; and dealers met with members of Congress during the National Leadership Conference in Washington. D.C.

Protection Bureau continued to put pressure on dealer participation in auto financing by pursuing claims of disparate impact against indirect creditors. Disparate impact claims racial bias without direct intent. It affects dealers because those who support the idea of disparate impact claim that while finance companies collect no racial data, dealers are aware of customers’ race and increase interest rates as a result. Several firms paid fines for disparate impact claims in 2015, although most continued to allow some form of dealer participation. The CFPB’s next focus

A Small Business Review Panel provided feedback on the topic in November and Texas buy-here, pay-here dealer Phil Lathrop was given the opportunity to speak against the proposed rule. “The best I can say is we presented our case for buyhere, pay-here and used-car dealers,� Lathrop said. Recalls created a new regulatory threat to dealers in 2015. Trade associations were able to defeat an amendment to the highway bill that would have banned the sale of used vehicles with open recalls (see below), but the issue remains a hot topic in Washington.

FLOP OF THE YEAR: MPS SYSTEMS Multi-platform selling has been a long-term goal for many in the auction industry, but that grew less attainable in 2015 as ADESA and ServNet pulled out of a plan to launch an MPS system. The main concerns were that an MPS system would subject participants to heightened technology requirements and costs. Manheim announced it re-

mains committed to the idea of multi-platform selling. The International Automotive Remarketers Alliance recently renewed its push for the industry to develop such a system. A survey of IARA member consignors showed 87 percent support an MPS system. In an open letter to the industry, IARA members said they want a platform that

sends real-time data so bidding can be updated simultaneously, making it unnecessary for buyers to switch from one sales platform to another. The letter said MPS will allow buyers the ability to use their preferred sales platform, while still gaining access to an exponentially larger selection of vehicles when purchasing online.

COUP OF THE YEAR: POLITICAL ACTION An amendment to the Highway Bill would have prohibited the sale of a used vehicle with an open recall until the recall. The National Automobile Dealers Association, the National Independent Automobile Dealers Association and the National Auto Auction Association joined forces to rally their members and the amendment was de-

feated. “The collective efforts of the NAAA, the NADA and the NIADA are focused on protecting our auctions and our dealers,� said NAAA president Mike Browning. “Our recent success in Washington shows that we can mobilize when we stay aware. A few years ago, I don’t know if you would have seen that level of awareness.�

NEXT ISSUE: Forecast 08_UCN.indd 1

12/14/15 2:45 PM


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12/10/15 10:34 AM


 

    

Clarity Pays for Misused Data The Consumer Financial Protection Bureau took action against a nationwide credit reporting company, Clarity Services Inc., and its owner, Tim Ranney, for illegally obtaining consumer credit reports. The company also violated the law by failing to appropriately investigate consumer disputes. The bureau is ordering the company and its owner to halt their illegal practices and improve the way they investigate consumer disputes and obtain, sell and resell consumer credit reports. The company and Ranney must also pay an $8 million penalty to the bureau. Clarity Services focuses on the subprime market. The company compiles and sells credit reports to financial service providers, such as payday lenders. Clarity purchases credit reports from other credit reporting companies, supplements these reports with alternative data, and resells the repackaged reports to be used in underwriting decisions. Companies that purchase Clarity’s consumer reports are often lenders to consumers who have thin credit files. Clarity and Ranney generated marketing materials for prospective clients by illegally obtaining tens of thousands of consumer

reports from other credit reporting companies without a permissible purpose, the CFPB said. Clarity and Ranney used personal consumer information from these reports to help market its products. For example, in one instance, although members of Clarity’s own staff objected to the illegal conduct, Clarity and Ranney illegally obtained over 190,000 consumer reports from another credit reporting company. As a result, consumers’ credit files wrongly reflected a permissible inquiry by a lender. When the lender learned of this and raised it with Clarity, Clarity and Ranney requested that the credit reporting companies delete evidence of the unauthorized pulls of information from the consumers’ reports. As part of the enforcement action, Clarity and Ranney must implement policies and procedures to ensure that users have a permissible purpose to obtain consumer reports and are appropriately credentialed. It must also require consumer data furnishers to provide accurate data and correct data inaccuracies. Clarity and Ranney must also improve the way the company investigates consumer disputes.

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12/11/15 3:53 PM


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12/10/15 11:05 AM


 

    

Captives Gain Marketshare

68 Years Can’t Be Wrong.

Leasing accounted for nearly 27 percent of all new vehicle transactions in the third quarter, up from 24.7 percent the previous year, according to Experian Automotive. This marks the highest percentage of vehicles leased since Experian began tracking the data publicly in 2006. Findings from the report also showed that the average monthly lease payment was $398 during the quarter. “As the price for a new or used vehicle continues to rise, leasing has become a more viable financing option for consumers looking to maintain an affordable monthly payment,� said Melinda Zabritski, Experian’s senior director of automotive finance. Rising vehicle prices also have given way to record loan amounts for new and used vehicles. During the third quarter, the average amount financed for a new vehicle was $28,936, up $1,137 from the previous year. The average amount financed for a used vehicle was $18,866, up $290 over the same time period. Furthermore, the gap between new and used loan amounts also has grown. On average, consumers finance $10,070 less on a used vehicle than on a new one. Extending loan terms is another method consumers turned to in

order to keep monthly payments low. During the third quarter, the percentage of consumers who took out new and used vehicle loans with terms between 61 and 72 months reached all-time highs. For new vehicles, approximately 44 percent took out 61- to 72-month loans, and more than 41 percent financed a used vehicle for the same duration. The percentage of consumers extending their loans even longer also has increased. Loans for new vehicles extending 73 to 84 months increased 17.1 percent over the previous year, reaching a third quarter record high of 27.5 percent. Used vehicle loans extending in the 73- to 84-month term, however, reached an all-time high of 16.2 percent (a 12 percent increase over the previous year). One of the biggest shifts in the automotive lending industry during the third quarter was the resurgence of captive lenders. In the third quarter, captive lenders financed 51.6 percent of new vehicle loans, up from 36.8 percent. This represents the largest market share of new vehicle financing for captives since the recession. Market share findings for other lending types show banks still holding the largest share for new and used vehicle loans combined.

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12/11/15 3:40 PM


USED CAR NEWS



Zoning Keeps Out Dealers By Sheila McGrath

A South Carolina city has seen a big increase lately in the number of used-car stores opening in the city. They’re getting so many, in fact, that Rock Hill officials passed a new zoning ordinance to help stem the tide of newcomers. Leah Youngblood, senior planner for the city of 69,000 residents, said her office has been getting two or three inquiries a week from people hoping to open a used-car store. The national average in similar cities is about one car dealership for every 2,400 residents, she said. In Rock Hill, there’s one for every 1,800 residents. “We are not completely sure why Rock Hill has more dealerships than cities of similar size,� she said. “It could be that we are just across the state line from North Carolina, and that state’s regulations may be tougher than in South Carolina, or it could be that we serve a regional market for some of the more rural areas of surrounding counties, or something else.� The city’s new ordinance requires new car lots to be at least 1.5 acres in size, and requires them to be paved and landscaped. Signs on cars can be no more than a “reasonable� size. Those changes pertain only to a new store opening in the city, but the planning department is also seeking a change that would force existing stores that do not meet the city’s current standards to upgrade their parking, fences and landscaping. Jeff Piechowitz, owner of M&M Motors on Cherry Road, has been in business in Rock Hill for about six months. He said the city already has tough restrictions on used-car dealerships, particularly in the area of signage. “You can’t have any kind of flare to

your dealership,� he said. “They all look like parking lots, for the most part. You can’t have signs on the hood, or balloons on cars.� But he thinks there are a couple reasons people still want to open car lots there. For one thing, there’s a huge market for subprime business in the area, he said. Eighty percent of his clientele has challenged credit. “That’s just what the market seems to be in that area,� he said. “And everybody wants a piece of that action.� But another reason is the way that a lot of dealerships are concentrated on just two streets in Rock Hill, he said. Everyone wants to open a lot on Cherry Road or Anderson Road because of all the customers there. Part of the problem, according to Youngblood, is that car lots are opening on half-acre parcels in those neighborhoods that are not paved or landscaped. The dealers are not investing enough in the buildings to trigger the city’s normal site upgrade regulations. Also, those neighborhoods have been targeted for revitalization of a different kind, according to Youngblood. The city planning staff held a meeting in late November to talk over the changes with the city’s used car dealers and help them comply. About 45 people attended, Youngblood said. Piechowitz said most of the existing car lot owners he talks to are not too concerned about the new ordinance, since they already have their businesses. But it will keep a lot of newcomers out, he said. “You’re going to need an acre and half, and that’s going to make it tougher for someone who wants to get a start who doesn’t have the funds to do it,� he said.

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Couple Launders Money at Store C

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A Colorado used-car dealer was sentenced to serve four years in federal prison, followed by three years of supervised release, for money laundering. Raul Mendoza, owner of Chopeque Auto Sales, must also forfeit 19 vehicles and $5,277.16. According to the indictment and plea agreement, beginning in February 2008 and continuing through May 2012, Mendoza and Isidro Noe Mendoza-Ortiz conspired with each other and others to structure currency by depositing cash in amounts just under $10,000 with the intent to evade the reporting requirements as required by law. Daily cash receipts from Mendoza’s Commerce City dealership were received at the business and structured into separate accounts at

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various banks. From Feb. 26, 2008 through May 29, 2012, they structured over 700 deposits totaling more than $4.5 million. As part of the conspiracy, on March 8, 2012, Mendoza and Julia Castillo-Caraveo knowingly failed to file an IRS Form 8300 for the store, a report required by law for all currency transactions over $10,000 received by a business. Particularly, they sold a 2008 Chevrolet Silverado 1500 in exchange for $20,900 that was represented by undercover law enforcement officers to be the proceeds of drug distribution. They did so in order to conceal the nature of the specified unlawful activity and to avoid IRS Form 8300 reporting requirements. Y

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State Bans Pair from Sales An Arizona used-car dealer is banned from selling cars after violating the state’s Consumer Fraud Act. Uncle Joe’s Auto Sales, located in Phoenix, and its owners, Joseph and Gina Colombo, will also pay $70,000 in consumer restitution. The restitution is part of a consent judgment reached against Front Line Auto Auction, LLC, doing business as Uncle Joe’s Auto Sales and Uncle Joe’s Auto Consignment Shop and its principals. The consent judgment also bans Uncle Joe’s and the Colombos from owning, operating or managing a motor vehicle sales or finance business in Arizona. The state filed a consumer fraud

lawsuit in March. The Attorney General’s Office received more than 30 consumer complaints about Uncle Joe’s, even though the business was only open for about 8 months. “This dealership targeted Arizona families with no credit or poor credit, charging them outrageous fees,� said Attorney General Mark Baranovichi. “Buying a car is a major investment for most families and this office will continue to take a tough stance against used car scams and auto dealer fraud.� In the consent judgment, Uncle Joe’s and the Colombos admitted to engaging in numerous false, misleading, unfair, and deceptive acts and practices.

Act Aids Move to Paperless

BELAIRHoliday_UCN-Dec21.pdf

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4:19 PM

A measure contained in the federal Fixing America’s Surface Transportation Act (FAST Act) will aid paperless vehicle sales. Language contained in the 1,300page transportation bill allows states to move forward with programs to implement electronic odometer disclosures, notices and related materials as long as those processes provide appropriate authentication and security measures.

Existing federal law requires odometer disclosures to be hand written. While a provision in the 2012 federal transportation bill called on the federal National Highway Traffic Safety Administration to implement new rules to allow for electronic odometer disclosures, the agency has yet to propose those rules. Sen. Steve Daines (R-Montana) authored the measure.

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12/12/15 9:05 AM


USED CAR NEWS

 $,

PEOPLE IN THE NEWS TrueCar Names CEO

TrueCar Inc. has named former AutoTrader CEO Chip Perry as its new chief executive. Perry was the first employee at AutoTrader. He left the company in 2013. Prior to starting AutoTrade r.c o m , Chip Perry Perry was a vice president of new business development at the Los Angeles Times. In the early 1990s he led the team that launched TimesLink, one of the nation’s first major newspaper online services. Most recently, he has been president and CEO of RentPath LLC, parent company of ApartmentGuide.com and Rent.com.

ServNet Installs New President

ServNet’s owners met in Detroit for the group’s fall business meeting, where members confirmed a planned transition in leadership. Kevin Brown takes the helm as ServNet’s president for the next two

15_UCN.indd 1

years, following Patty Stanley’s two-year term. Brown is co-owner of Missouri Auto Auction, in Columbia, Mo. He had most recently served as the group’s vice president, and has also served as both director and treasurer. Stanley assumes responsibilities as the group’s chairman of the board having completed a twoyear term as president. Further, Ben Brasher (Brasher’s West Coast Auto Auctions) was named vice president while Eric Autenrieth (Indiana Auto Auction) was elected treasurer. In other leadership changes, Bill Williams (Flint Auto Auction) completed his term as director and two new directors were elected to the board: Steve DeLuca (Auto Auction of New England) and Rob Brasher (Brasher’s Salt Lake Auto Auction). Continuing on as a board director is Rob Thompson (Mid-State Auto Auction).

CalAmp Taps Operations Exec

CalAmp Corp. has appointed John Warwick as senior vice president of operations, with responsibility for supply chain management, supply planning, manufacturing, distribution and quality. Most recently, Warwick held the position of senior vice president and chief operating officer at Maxwell Technologies Inc., a manufacturer

of energy storage products for the transportation, energy and electronics industries. Previous positions include general management and operations positions at Emulex Corp., Lantronix Inc. and Western Digital Corporation. Warwick holds a master’s degree in business administration from the University of California at Los Angeles and a bachelor’s degree in electrical engineering from North Carolina State University. He also obtained a certification in production and inventory management from APICS, an association for supply chain and operations management.

of a program throughout his dealership network that helped raise more than $200,000 for local schools during the past four years. As chairman of Hyundai Motor’s Hope on Wheels charity, Huang partnered with Cleveland area Hyundai dealers to raise $50,000 for the Rainbow Babies and Children’s Hospital to benefit pediatric cancer research. In addition to his fundraising efforts, Huang has dedicated his time to numerous civic and industry organizations over the years, including the Ashtabula County YMCA where he serves as a member of its board of directors and helps guide facility improvements.

Cox Salutes Dealer for Community Involvement

TradeRev Hires for U.S. Expansion

Cox Automotive presented its inaugural Community Impact Award to Joey Huang of Great Lakes Auto of Ashtabula, Ohio. Presented by Grace Huang (no relation), Manheim’s senior vice president of inventory services, this award recognizes a remarketing industry leader for their outstanding contributions to their community and the innovative ways they collaborate with community partners to help further their missions and shape better communities. Top among Joey Huang’s many accomplishments was the creation

TradeRev, a Toronto-based provider of a vehicle appraisal and auctioning systems, announced the company has hired two regional directors to drive the expansion of the company’s United States operations. Tim O’Rourke is the Southeast regional director, and Michael Niebling is the Midwest regional director. As the new regional directors in the United States, O’Rourke and Niebling will be responsible for building relationships with dealers and hiring in their respective targeted locations.

12/14/15 3:22 PM


& #

   

RETAIL MARKETS 

David Albritton, owner, Redline Motor Cars, West Monroe, La.: “I have two stores and they are right near each other. “We offer conventional financing. We have some of the big lenders in-house that we contract with directly. “Approximately 120 (units) are in inventory, combined, for both stores. “On average, we sell 45 to 50 cars a month. We specialize in lifted trucks, customized Jeep Wranglers and diesels – the bigger stuff, with big wheels and tires. It’s one-of-a-kind stuff. “We also sell cars, but we are 80 percent trucks. “Business has been slower this year. It’s been down compared to last year. “I believe my market has been affected by the low oil prices and the reduction in jobs in this area. A lot of my customers work in the oil fields. They are

“

that 25- to 29-year-old rig worker who makes a good income. A lot of these guys are out of work right now. “Mostly, we’ll get our (inventory) from auctions and wholesalers. “I’ll carry everything from 2015s back to 1993s. On average, I carry 2001 to 2012 models. “Average mileage on my vehicles is about 70,000 to 80,000. “We sell more domestics than imports. Trucks are mostly domestic, so overall it’s 80-20 domestic. “We recondition our vehicles. Average is probably $700 to $800. It may seem a little high, but if it’s a $30,000 truck, it needs to look, smell and feel like a $30,000 truck. “We do not service our own vehicles at this time. But we are in the process of acquiring a shop. “We do a lot of advertising on the Internet. It fact, I haven’t done anything but Internet for the past eight months. But I’m fixing to

do the first radio spot I’ve done in a long time. “We sold a 2010 silver Jeep Wrangler. It had 30,000 miles. We (equipped it) for rock climbing. “I hope 2016 is better than 2015. But down here, oil plays a big part.�

OHIO

Lauren Bowden Thomas, president, Bowden Motors, Bellefontaine, Ohio: “We’ve been in business 23 years. We just have one location. “My father started the business but he passed away on Oct. 25. We worked together and he was a great guy. “We keep about 50 to 60 (vehicles) on the lot. Usually we’ll get them from nearby auctions. We also use a couple out-of-state auctions. “We primarily sell Hondas and Acuras. We’re kind of different in that way. So we do have to reach a little

!"%#%  $ farther to find them, into neighboring states. “We have a Honda factory near us, so everybody in the area works for them or one of their subsidiaries. “Usually, we sell 25 to 30 a month. It’s been up and down this year, but still a little better than last year. “I (attribute) that to our employees, I’ve got a good team right now. Plus, our economy is doing well in central Ohio. We’re very lucky to have a strong industry out here. We haven’t had a lot of the unemployment here. “We do just conventional indirect lending. We do really well with local employee credit unions. “The average model year for a car here would be a 2009, with 80,000 miles. Then the average SUV will be a 2008 CRV with 100,000 miles. We’ll sell those with a few more miles. “Cars and SUVs are (split even), plus we carry 10 percent Honda Ridgelines.

“We have a service center. It’s got eight bays and two full-time mechanics. I’d say we spend about $350 a car on reconditioning. We do our own cars and do work for our own customers. “We’ve been doing a lot of marketing and advertising online. We work hard on our website and we do a lot on Facebook. We also use AutoTrader. “It’s mostly online. We’re spending a little bit more on the Internet this year. “We sell a lot of service contracts on our cars through Preferred Warranties. We also have a certified program for our cars that have less than 100,000 miles. It gives customers a three-month warranty through Preferred. “Right now, the Honda CRV is very popular for us. I’m actually hoping for a little bit of snow. “We just sold a 2009 Honda CRV EX, four-wheel drive, with 110,000 miles. We sold it for $12,250.�

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12/14/15 10:48 AM


USED CAR NEWS

WHOLESALE MARKETS MISSISSIPPI

John Tidmore, assistant general manager, Mid-South Auto Auction, Pearl, Miss.: “We have six lanes and we’re running three lanes. “Volumes have been around 250. “Most of the other auctions in this area have been slow. Last year this time, it was about 400. “It’s more of a regional market trend. “Sales percentages have been around 48 percent to 52 percent. “Volumes are about 70 percent to 75 percent dealer consignment. “We’ll draw 200-plus dealers weekly. “Mostly they are coming from within Mississippi, because we are located deadcenter of the state. But we’ll have a few dealers come down from Tennessee. “We’ll also have a few that come over time to time from Louisiana. But the majority is from Mississippi. “We run salvage every

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week. We’ll run probably 30-plus (units). “We’ll also do a monthly RV and power sports sale. “We’ll run 20 to 25 (units) in that. It’s mainly RVs, motorcycles, golf cars and four-wheelers. “That business has been good. Of course, it’s more cyclical than the car business. “We do have some state and local agency (vehicles) that run. Those will be cars and trucks and sometimes we’ll run medium-duty trucks. The state and agency vehicles run in a public sale. We’ll run some other cars in that, as well. “The average price coming through the lanes is about $5,500 over the past 60 days. “We’re really positive about 2016. We went through a management change about this time last year. “So we’re starting to get a foothold. We’ve got some new-car franchises and we’re optimistic.”

OHIO

Tim French, vice president of sales, Columbus Fair Auto Auction, Columbus, Ohio: “The auction has been around since 1959. We’ve had a shake up in some of the management. Greg Levi our new chief operating officer. “We have 11 lanes and we’re running 1,600 to 1,800 cars. We have four lease lanes and seven dealer consignment lanes. “Volume is picking up on the lease side. Our biggest account is General Motors, so the lease portfolio through GM Financial and GM both has grown and will continue to grow into 2016 and 2017. “Our overall portfolio changes every week based on all of our consignors schedules. For example, Subaru may run once a quarter, while GM and GM factory like to run together every other week. “We have (numerous commercial) consignors.

“Repossessions are a whole different animal because in Ohio they are open to the public. The repo has the highest sales percentage across the board. “Our dealer consignment sales percentage right now is a touch below 50 percent, but in a perfect world we’d like to be in the 55 to 60-percent range. “Our simulcast participation (is also strong). Probably 80 percent of the Subarus are sold online because of the demand in the Northeast. “We are a government sale. We’re also a heavytruck sale. “We’re not classified as a power sports sale, but we still sell boats, motorcycles and RVs on a consistent basis. “Overall, the average price coming through the lanes is a little higher than the average auction because we are a factory-generated sale. The price point on those vehicles is $15,000 to $17,000, with a heavy concentration

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Compiled by Jeffrey Bellant on newer cars. Obviously, as we go into the winter sport utilities and heavy trucks get a lift. So our price point might move up into the $20,000 range. “Another thing we pride ourselves on is tracking the (second-place) bidder. We try to tell that guy – who may have missed a car by $500 – where he can buy the car later in the afternoon. “We do a separate sale called ‘Off the Block at 1 o’clock.’ When the repo sale starts to wind down, if a dealer didn’t fill their quota they needed to buy, we give them a second look. A sales team tries to match up our dealers with inventory by a consignor. Doing that (during a recent week), we sold 52 cars that we wouldn’t have sold otherwise. “With the way Alexis Jacobs (president) and Greg have engaged the employees, we’re at a whole new level with training and our department heads having buy-in with employees.”

12/14/15 1:29 PM


 

    

MONTHLY DEALER CONSIGNMENT AVERAGES AVG. PRICE AVG. MILEAGE

COMPACT CAR Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 Aug 2015 Sep 2015 Oct 2015 Nov 2015 YTD AVG:

$5,633 $5,760 $5,838 $5,849 $5,680 $5,417 $5,372 $5,146 $4,932 $4,933 $4,923 $5,422

FULLSIZE CAR Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 Aug 2015 Sep 2015 Oct 2015 Nov 2015 YTD AVG:

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$4,267 $4,009 $4,240 $3,982 $4,103 $3,879 $3,753 $3,866 $3,809 $3,862 $3,738 $3,964

100,089 100,455 100,803 100,425 101,408 102,039 101,087 102,745 104,230 103,051 103,234 101,738 108,590 113,963 114,926 115,393 112,477 113,940 115,209 114,420 113,866 112,994 113,967 113,671

LUXURY CAR

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Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 Aug 2015 Sep 2015 Oct 2015 Nov 2015 YTD AVG:

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$12,359 95,856 $11,600 99,185 $12,383 98,341 $13,143 96,598 $12,656 96,794 $12,182 98,552 $12,134 98,030 $11,543 99,066 $11,175 100,400 $11,708 98,421 $11,412 99,304 $12,066 98,165

MIDSIZE CAR

* To register please visit an IAA location, go online to www.IAAI.com and use Promo Code: UCN2015 or call Buyer Services at (877) 937-4243. The registration will allow you full access to buy where you meet state licensing requirements for six months. This offer is for new, first-time buyers at IAA only. Must mention the promo code at the time of registration; provide a government issued I.D., and business license if applicable. A $200 registration fee is required after six months to extend your buying privileges. The six month period starts from the day your account is activated. Expires: 12/31/2015.

IAAI.com © 2015 Insurance Auto Auctions, Inc. All rights reserved.

Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 Aug 2015 Sep 2015 Oct 2015 Nov 2015 YTD AVG:

$6,158 $6,212 $6,388 $6,478 $6,299 $6,116 $6,088 $5,911 $5,669 $5,692 $5,741 $6,085

108,770 109,106 109,533 108,683 108,893 109,721 108,365 109,748 111,443 109,824 109,227 109,386

CURRENT YTD, THROUGH NOVEMBER 2015

106402-01_2015 Remarketing Ads - January Used Car News Print_20141219_FINAL.indd 1 18_UCN.indd 1

AVG. PRICE AVG. MILEAGE

PICKUP Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 Aug 2015 Sep 2015 Oct 2015 Nov 2015 YTD AVG:

$13,884 $14,168 $14,726 $15,340 $15,461 $15,222 $15,574 $15,645 $15,781 $15,378 $15,604 $15,169

SPORTS CAR Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 Aug 2015 Sep 2015 Oct 2015 Nov 2015 YTD AVG:

SUV

Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 Aug 2015 Sep 2015 Oct 2015 ov 2015 YTD AVG:

VAN

Jan 2015 Feb 2015 Mar 2015 Apr 2015 May 2015 Jun 2015 Jul 2015 Aug 2015 Sep 2015 Oct 2015 Nov 2015 YTD AVG:

111,243 110,325 108,794 106,962 106,425 107,953 106,084 106,507 104,051 105,472 104,316 107,082

$15,394 $15,520 $16,803 $17,608 $16,826 $16,560 $16,420 $15,521 $14,750 $15,446 $14,719 $16,047

79,612 79,412 74,086 73,154 74,221 74,921 75,069 75,338 77,278 75,902 77,757 75,875

$11,562 $11,245 $11,774 $12,017 $11,970 $11,505 $11,599 $11,352 $11,147 $11,360 $11,331 $11,537

105,644 108,473 107,161 106,876 106,076 107,525 105,875 107,247 107,768 106,285 107,083 106,906

$6,421 $6,417 $6,730 $6,815 $6,625 $6,381 $6,394 $6,391 $6,102 $6,266 $6,366 $6,456

118,391 120,337 117,801 118,267 120,029 120,909 120,024 120,332 122,340 120,695 119,636 119,837

SOURCE: MANHEIM CONSULTING

12/19/14 9:11 AM 12/10/15 3:23 PM


TRUE COST OF INCENTIVES (TCI) October-14

October-15

% Change ‘14-’15

Compact Car TCI $1,912 1 $13,055 2 $11,752 3 $10,743 4 $8,974 5 $7,383

$2,098 $12,234 $11,261 $10,007 $8,489 $7,066

9.73% -6.29% -4.18% -6.85% -5.40% -4.29%

Subcompact Car TCI $995 1 $12,036 2 $11,027 3 $10,260 4 $7,832 5 $6,715

$1,317 32.36% $10,785 -10.39% $9,980 -9.49% $9,115 -11.16% $7,802 -0.38% $6,132 -8.68%

Midsize Car TCI $2,110 1 $15,335 2 $13,494 3 $11,986 4 $10,266 5 $9,056

% Change ‘14-’15

$2,899 37.39% $14,601 -4.79% $13,409 -0.63% $11,311 -5.63% $9,314 -9.27% $8,120 -10.34%

$2,997 -17.48% $26,280 4.85% $22,781 4.52% $19,372 -0.23% $15,709 2.66% $12,303 -2.96%

Large Traditional Suv

Entry Luxury Car

TCI $2,561 1 $33,426 2 $29,205 3 $25,979 4 $22,667 5 $17,466

TCI $2,415 1 $25,772 2 $21,682 3 $20,666 4 $16,515 5 $14,032

TCI $482 1 $21,396 2 $19,465 3 $16,625 4 $14,668 5 $12,943 TCI $4,056 1 $27,580 2 $25,122 3 $22,127 4 $18,850 5 $16,766 TCI $2,216 1 $21,150 2 $19,830 3 $17,407 4 $12,387 5 $9,861

$2,138 $19,949 $19,196 $16,430 $13,625 $11,335

$2,291 -10.54% $32,958 -1.40% $30,419 4.16% $26,902 3.55% $23,708 4.59% $20,477 17.24%

-14.67% 4.45% -1.86% -16.30% 44.90% -10.13%

TCI $1,784 1 $20,136 2 $19,138 3 $18,610 4 $16,283 5 $13,037

$2,743 13.58% $26,200 1.66% $21,429 -1.17% $18,385 -11.04% $16,015 -3.03% $13,546 -3.46%

Entry Luxury SUV $555 15.15% $21,398 0.01% $19,853 1.99% $17,864 7.45% $14,552 -0.79% $13,163 1.70%

TCI $1,646 1 $30,245 2 $26,592 3 $23,521 4 $19,597 5 $15,664

$2,059 25.09% $30,455 0.69% $26,317 -1.03% $22,304 -5.17% $19,395 -1.03% $16,583 5.87%

Midrange Luxury Car $3,796 $29,092 $25,173 $23,421 $19,896 $17,130

-6.41% 5.48% 0.20% 5.85% 5.55% 2.17%

TCI $2,862 1 $36,349 2 $32,405 3 $28,678 4 $20,758 5 $16,553

$2,563 -10.45% $36,409 0.17% $30,569 -5.67% $26,315 -8.24% $22,606 8.90% $16,875 1.95%

Midrange Luxury SUV $2,930 32.22% $19,862 -6.09% $19,347 -2.44% $16,730 -3.89% $13,953 12.64% $9,605 -2.60%

Entry Sport Car -4.77% -4.72% -0.88% -0.88% 2.30% -3.15%

$1,658 $79,312 $60,420 $52,618 $58,843 $37,720

TCI $1,943 1 $75,933 2 $61,564 3 $62,862 4 $40,608 5 $41,971

TCI $1,489 1 $18,200 2 $15,780 3 $14,143 4 $11,819 5 $10,239

Midsize Crossover SUV

% Change ‘14-’15

TCI $3,632 1 $25,065 2 $21,796 3 $19,416 4 $15,302 5 $12,678

Minivan

$1,677 12.63% $17,588 -3.36% $16,268 3.09% $14,147 0.03% $11,548 -2.29% $10,175 -0.63%

October-15

Premium Sport Car

Large Truck $3,463 -15.99% $20,267 9.59% $16,784 7.62% $13,744 -4.49% $11,701 2.78% $9,101 1.34%

October-14

Large Crossover Suv

Compact Crossover SUV

TCI $2,245 1 $20,938 2 $19,366 3 $16,576 4 $13,319 5 $11,704

October-15

Compact Truck

Large Car TCI $4,122 1 $18,493 2 $15,595 3 $14,390 4 $11,384 5 $8,981

October-14

TCI $1,183 1 $41,727 2 $36,074 3 $29,681 4 $25,057 5 $20,859

$1,239 $42,524 $35,687 $30,349 $24,514 $20,248

Premium Luxury Car $1,240 -30.49% $20,938 3.98% $18,348 -4.13% $16,890 -9.24% $15,092 -7.31% $14,083 8.02%

TCI $2,676 1 $59,614 2 $47,350 3 $41,145 4 $34,435 5 $27,030

$3,698 38.19% $60,360 1.25% $47,736 0.82% $38,305 -6.90% $34,356 -0.23% $28,998 7.28%

Midsize Traditional SUV

Midrange Sport Car

Premium Luxury SUV

TCI $1,635 1 $24,813 2 $22,719 3 $20,873 4 $16,986 5 $13,628

TCI $1,769 1 $41,100 2 $34,069 3 $31,576 4 $27,606 5 $24,028

TCI $2,344 1 $54,006 2 $44,832 3 $39,609 4 $29,683 5 $26,122

$1,800 10.09% $26,321 6.08% $23,234 2.27% $20,814 -0.28% $18,805 10.71% $15,847 16.28%

4.73% 1.91% -1.07% 2.25% -2.17% -2.93%

$1,171 -33.80% $43,965 6.97% $34,507 1.29% $29,275 -7.29% $28,170 2.04% $23,068 -4.00%

$2,530 7.94% $59,444 10.07% $47,115 5.09% $38,467 -2.88% $32,284 8.76% $25,595 -2.02%

Edmunds.com’s monthly True Cost of Incentives (TCI) report takes into account all of the manufacturers’ various United States incentives programs, including subvented interest rates and lease programs as well as cash rebates to consumers and dealers. To ensure the greatest possible accuracy, Edmunds.com bases its calculations on sales volume, including the mix of vehicle makes and models for each month, as well as on the proportion of vehicles for which each type of incentive was used. TCI data (and other Edmunds.com data products) can be viewed industrywide, import vs. domestic, by country of origin, by make, by model and by segment. True Market Value (TMV) is the transaction price for vehicles.

19_UCN.indd 1

12/11/15 10:26 AM


 

DISCONNECTED JOTTINGS FROM “You can’t have your cake and eat it, too�, an English idiomatic proverb that goes back to the 16th century, but it struck me as being apropos today, as I strolled around WalMart.

TONY MOORBY

South Korea, the Philippines and so on. All low-cost providers at reasonable quality in this throwaway world with nary a chance of any competition coming from here in the U.S.A.

Tony Moorby

• 40-year veteran of the industry • President from 1997–2000 of ADT Automotive • Served as ADESA’s executive vice president of sales and marketing • Moorby & Associates 2006–present • Awarded the Ring of Honor by NIADA • NAAA Hall of Famer

I don’t go shopping very often – being retired offers the opportunity to wear a fairly singular type of clothing that doesn’t change much from day to day; unlike ‘corporate days’ when I had to look like a clotheshorse. I was staggered by how inexpensive the clothes were as well as other household articles. I started looking at labels and there lay most of the answer: China, Pakistan,

   

Our proposed $15 an hour minimum wage would probably buy 30 workers for the same amount of time in Taiwan. President Obama, eight years ago, promised a better deal for middle-class America. Hilary Clinton, along with others, even from the Republican side, are touting the same benefits and yet today, an economic report stated that there are fewer people quali-

C R O S S WO R D

fied as “middle class� since before the 1950s. The wealthier classes have grown, but then so have those at the lower end of the economic scale. Any policies that would obviate the rich getting richer and the poor getting poorer have missed their intended targets by miles. Another campaign promise misfired. One has to wonder, at the close of the year, and in the up-coming political campaigns, if we should ask that magic question of all politicians, when they say they’re going to do something – “How?� Any and all statements of policy or intent are as useful as a chocolate fire screen without the supporting plans for their achievement. We may as well judge politicians on how good-looking they are. How can the Middle Class prosper under the spiral of cost containment in order to remain competitive enough to make products that the Middle Class can afford to buy? If a politician can

answer that one, he or she would get enough votes to trump Trump! Technology has taken much cost out of manufacturing, but it’s been available globally so people with meager living standards provide the fuel for economic advantage – someone has to pay in the end. Steelworkers at Allegheny Technologies have been on strike for a better deal for months now. It’s not always about the basic wage anymore, but all the other addons of health care, overtime, 401k contributions and the like. Things an employer (or employee) doesn’t even think about in Mumbai. Meanwhile, Buick is negotiating to have cars made in China. Maybe they’ll sell them at Wal-Mart. This year has seen a healthier return of vehicle sales volumes – nudging 19 million light vehicle sales, twice as many as 2009 but that’s

no comparison. There’s been some recent pressure on used-car prices as many more are now coming back to the market, but retail demand has been fairly spirited during the year. And the approaching “tax season� should have its usual buoying effect at the lower end too giving the New Year an early lift. I used to have what I thought was a decent grip on economics in a Keynesian sort of way, but age and retirement seem to stretch the mental muscles beyond their, now limited, powers. Vanderbilt University has some liberal arts courses, even for ‘mature’ students. Perhaps I should avail myself of the opportunity and learn how to deal with all today’s data. There are so much data that I find it confounding and tend to react to my gut these days. I know! A cooking school and learn how to make cake!

To see past columns from Tony Moorby, visit www.usedcarnews.com/columnists/tony-moorby

Sponsored by INSURANCE AUTO AUCTIONS

By Miles Mellor

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39 Offering least wind and air resistance 43 Letter afterthought 45 Above, in an ode 47 See 28 down 49 Decelerated 50 Unite 51 Top exec 52 Path between rows 53 BRZ or WRX 54 Twin cities state

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12 Autonation’s ticker symbol 13 Time measurement, for short 15 Adopt 16 Capital ending 20 Connection 21 Miata is one of its models 22 Moved forward 23 Dodge hatchback 25 Roman 4 26 Worn tire description 28 Jeep model, goes with 47 across 29 Certain numbered hwy. 33 They are shown on a GPS 34 Company exec, abbr. 36 ____ Beta Torpedo 38 Show concern 40 Harness fitting 41 Necessities

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Solution to the 12/7/15 puzzle 1

42 Black, navy, white or pearl 44 4 door 46 Smallest prime number 48 Have a loan with 49 Last word of “America, the Beautiful� 51 Trucker’s radio

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Solution to this puzzle in the 1/4/16 issue. Call 1.800.794.0760 for a FREE subscription.

20_UCN.indd 1

12/11/15 4:22 PM


USED CAR NEWS

"!"# "$% Advertisers are solely responsible for content of classified advertisements. To place an ad, or for more information, call the Classified Department: 800-794-0760 ext.107

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CLASSIFIEDS 12/11/15 1:49 PM


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AROUND THE BLOCK

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CHIPPING IN: ADESA’s Keith Crerar, far left, plays in a charity golf tournament supporting youth. Celebrities like golf pro Chi Chi Rodriguez (second from right) also participate.

ADESA announced the company’s ongoing support of Youth Automotive Training Center (YATC) that has earned the company “top contributor� status. During the 17-year relationship, ADESA has donated $1.8 million to the cause. YATC is a tuition-free, handson program that teaches basic

automotive repair, job readiness and life management skills to atrisk young adults in the Deerfield Beach, Fla., area. The center was established in 1984 by Jim Moran, philanthropist and founder of JM Family Enterprises. ADESA supports YATC’s mission of keeping young people on

the road to a successful future to become contributing members of their community and the automotive industry. “Jim Moran was a pioneer in our industry with an incredibly generous spirit,� said Bob Rauschenberg, executive vice president of sales, marketing and special services for ADESA. “He was always so appreciative of ADESA’s donations – he treated us like rock stars.� Since its inception, the YATC facility has grown from a oneroom center to a 16,000-squarefoot property, with a state-of-theart automotive shop, classrooms and a computer learning center. It has 700 graduates in 37 groups. ADESA has regularly participated in YATC’s largest fundraiser, the Jim Moran Classic, which includes teams of golfers playing alongside golf pros like Chi Chi Rodriguez and other celebrities.

Auction Debuts Renovated Lanes The Greater Rockford Auto Auction announces the grand reopening of its auction lanes after a complete reconfiguration and remodel. The improvements include moving and rebuilding all of the auction blocks for a better customer experience and completely freshening the entire sale arena to include complete network rewiring, new countertops, new auction block coverings, fresh paint and a newly refinished epoxy floor. The auction continued to sell vehicles in the remodeled space throughout the five-month project. “We are proud to officially announce the unveiling of our remodeled auction arena,� said general manager Chad Anderson. “After 20 years of detailing vehicles in the same building we sell vehicles, we built a separate reconditioning facility allowing us the opportunity to remodel our auction lanes.�

We invite news items and top-quality photos from our readers to be considered for “Around the Block.� Please include the name of a contact person and a telephone number. Send items and photos to: Jeffrey Bellant. Mail: Used Car News, 24114 Harper Ave., St. Clair Shores, MI 48080. Fax: (586) 772-9400 e-mail: jeff@usedcarnews.com

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12/11/15 4:15 PM


Joffa LaRoe – Inventory Director, Gateway Buick GMC Jennifer Friday – Senior Sales Manager, Ally SmartAuction

Some lenders might go the extra mile. We went the extra 3.1.

Joffa LaRoe was blown away by the extraordinary dedication Jennifer Friday showed helping her implement Ally SmartAuction®. So much so, she asked if Jennifer would like to continue her support by joining her in a 5K charity race. Jennifer — despite not being an avid jogger — was all in. Because at Ally, when it comes to proving our dedication to our dealers, we don’t just talk the talk, or even walk the walk — we run the run.

ally.com/driven/extramile ©2015 Ally Financial. All rights reserved. Driven by what we love is a service mark of Ally Financial. SmartAuction is a registered service mark of Ally Financial.

23_UCN.indd 1

12/11/15 11:16 AM


Does Kahu drive this bad boy? Negative, but it says that it can track your car.

Call (888) 517-3630 or visit kahuapp.com to learn how to make an additional $275 per car and enter to win a pair of Zubaz ÂŽ pants.

kahuapp.com 24_UCN.indd 1

12/11/15 12:12 PM

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