Used Car News 4/15/13

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April 15, 2013

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ON THE WEB: Credit Unions See Growth in Auto

Bill Blocks Sales with Open Recalls

By Jeffrey Bellant

Approximately two in three credit union executives see loan growth as the critical business issue facing their industry in 2013, according to a survey from TransUnion.

The survey found that more than half of credit union respondents believe auto loans are their biggest opportunity.e.

Buy-Here, Pay-Here Chain Adds Stores

America’s Car-Mart, Inc. announced the opening of its 122nd and 123rd dealerships.

The dealerships are located in Florence, Ala., and Kirksville, Mo. Florence is the 12th dealership in Alabama and Kirksville is the 17th dealership in Missouri.

Consumers Shrug Off Payroll Tax Hike

A survey found more than half of consumers said they either hadn’t noticed or had been unaffected by the payroll tax cut expiration in January.

The lowest-income households were least likely to cut back.

Another media expose has prompted a California lawmaker to target used-car dealers over the issue of vehicles with open recalls on their lots.

State Sen. Hannah-Beth Jackson (D-Santa Barbara) authored Senate Bill 686, which would prohibit dealers from displaying, renting, advertising, selling or leasing any vehicle subject to a manufacturer’s recall until repaired.

The legislation followed a local television news crew’s hidden camera report allegedly revealing that vehicles at several used car lots had open recalls and were sold to unsuspecting customers.

The story later ended up on a national morning news show.

But Larry Laskowski, executive director of the Independent Automobile Dealers Association of California, said the bill unfairly targets dealers.

“Jackson’s bill doesn’t address any consumer-owned vehicles, only those on dealers lots (estimated to be less than 30 percent of recalls),” he said. “It ignores the fact that a car sitting on a deal-

Photo by The Associated Press BIRDS OF A FEATHER: California state Sen. Ted Lieu, center, and Sen. Hannah-Beth Jackson disucss policy issues. Both legilstaors have introduced bills dealers in the state feel would unfairly burden them.

er’s lot with an open recall is that way because the consumer who previously owned the vehicle ignored manufacturer’s recall notices.”

Laskowski added that one problem is the lack of a national database that would allow a dealer to enter a VIN and check to see if there are any open recalls.

Some efforts have been made to discover used vehicles with open recalls, he said. California’s Department of Motor Vehicles already blocks transfers with emission recalls until the repairs are made, Laskowski said.

The used-car industry is already making efforts to help dealers with this prob-

lem. The National Independent Automobile Dealers Association has a link on its website that allows dealers to run a free Carfax open recall check on most vehicle brands.

The Jackson bill would also require a dealer to perform a recall even if the manufacturer was no longer obliged to make that repair.

Certified Sales Top 190,000 for First Time Ever

Rush - Dated Material

March certified preowned sales hit an all-time high, exceeding 190,000 monthly sales for the first time, with sales of 190,065, 9 percent up from March (174,337, the previous high), and 21.1 percent higher than February.

There were 27 selling days in March compared to 28 in March 2012 and 24 in Feb-

their all time highs.

New highs: Ford/ Lincoln/ Mercury; Toyota; Mazda; Mercedes-Benz; Volkswagen; Hyundai; Kia; Mini; Nissan and Subaru The following brands achieved their highest-ever quarter: Ford/ Lincoln/ Mercury; General Motors; Mazda; Volkswagen; Kia; Mini and Subaru.

Overall, used-car sales did well in March.

TrueCar estimates usedcar sales at 2,891,896 for March. The ratio of new to used is estimated to be 1:2.

Edmunds.com estimates that 3.44 million used cars were sold in March, for a SAAR of 36.6 million.

That compares to 3.36 million sales in February.

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ruary. March also had the highest daily selling rate, at 7,039.

AutoData Corp. reports that first quarter sales were 497,647, 9.4 percent above the first quarter a year ago and the highest quarter ever.

Many brands achieved new highs, while many of the other brands neared

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April 15, 2013 t 3

USED CAR NEWS

Younger Buyers Eye Wider Array of Manufacturers Japanese brands like Honda remain among the most popular among consumers, but brands from other countries and even domestics are gaining ground with younger buyers.

Automakers learn how inmarket new-car shoppers view their brands as the 2013 Brand Image Award winners are announced by Kelley Blue Book.

These awards, based on an entire year’s worth of consumer perception data from the company’s Brand Watch study, honor the automotive brands that have most successfully captured positive consumer attention.

The 2013 Brand Image Awards, presented to the top brands in 13 categories, are based on consumer automotive perception data from Kelley Blue Book Market Intelligence’s Brand Watch study.

Brand Watch is an online brand and model perception tracking study tapping into more than 12,000 in-market new-vehicle shoppers annually on Kelley Blue Book’s KBB.com. The highly comprehensive Brand Watch study offers insight into inmarket new-vehicle shoppers’ perceptions of brands and models, including important factors driving their purchase decisions while they are in the midst of the shopping process.

The Kelley Blue Book Brand Image Awards recog-

nize automakers’ outstanding achievements in creating and maintaining brand attributes that capture the attention and enthusiasm of the new-vehicle buying public.

Award categories are calculated among luxury shoppers, non-luxury shoppers and truck shoppers.

This marks the sixth consecutive year that Kelley Blue Book has presented auto manufacturers with the Brand Image Awards. This year, Honda takes home the most trophies. Honda is named Best Overall Brand by non-luxury shoppers, which speaks to Honda’s stellar reputation and brand leadership in the minds of consumers. Furthermore, Honda is awarded Most Trusted Brand for the second year in a row, and Best Value Brand for the third year running. Receiving consecutive awards in key categories like Trust and Value underscores that the positive attributes of the Honda brand continue to resonate with the new-car buying public.

Meanwhile, among nonluxury shoppers, MINI is a standout for Performance, while Ford leads for Car Styling, and Chrysler wins for Most Refined Brand. According to truck shoppers, Toyota is the Best Overall Truck Brand.

Among luxury shoppers, BMW takes the top spot as Best Overall Luxury Brand, and Porsche brings

STILL THE ONE: Consumers continue to hold Japanese manufacturers like Honda in high regard, but younger buyers are taking a look at vehicles from around the world.

home two trophies for Performance and Car Styling.

Domestic manufacturer Buick excels among luxury shoppers for Value, while Lexus leads for Trust, and Mercedes-Benz is viewed as Most Refined Luxury Brand.

Most of these results are typical of these surveys. But other data shows a change in popular tastes could be coming.

American auto brands are gaining strength with younger buyers in the U.S., while their Japanese rivals have taken a big step back, reports Edmunds.com.

According to an analysis of new car retail registrations from R. L. Polk & Co., American brands accounted for 36.8 percent of cars bought

by Americans age 25 to 34 in 2012, up from a share of 35.4 percent in 2008. Meanwhile the share of Japanese brands for the same age group plummeted from 50.6 percent to 42.9 percent during that period.

But even with the incremental success of American brands, Edmunds.com found that the exodus from Japanese cars by young buyers is turning mostly toward South Korean brands.

About 10 percent of new cars purchased by 25-to-34 year olds in 2012 carried South Korean nameplates, more than doubling the rate for this age group since 2008.

The South Koreans’ progress with young buyers re-

flects their overall growth in the U.S. market. Korean brands represented 9.5 percent of all new retail registrations in the U.S. in 2012, almost twice as much as their share of 5.0 percent in 2008.

European car labels are flexing their own muscles in the U.S. market as well, accounting for 9.9 percent of new car registrations in the U.S. last year, up from 8.5 percent in 2008. Like the South Koreans, European carmakers have delivered consistent growth among all age groups since 2008, with the biggest successes among older car buyers, thanks to Baby Boomers choosing European luxury cars postretirement.

Toyota Settles County’s Unintended Acceleration Lawsuit LOS ANGELES (AP) – A $16 million settlement over the safety recall of Toyota vehicles that were at risk for unintended acceleration and braking issues was announced by Orange County prosecutors and Toyota Motor Corp.

The suit was one of a flood of cases brought against the automaker after more than 14 million vehicles were recalled in 2009 and 2010 — many of them still waiting to be heard or settled.

In the lawsuit, Orange County District Attorney Tony Rackauckas claimed deceptive business practices, alleging Toyota had concealed safety issues related to its floor mats and ``sticky’’ gas pedal issues.

The suit sought $2,500 per

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violation under California’s consumer protection laws Under the settlement, Toyota continues to deny all the claims made in the suit. ``Having addressed floor mat and `sticky pedal’ issues with effective and durable solutions, we are gratified that Toyota vehicles are once again widely recognized as among the safest and most reliable on the road,’’ Christopher P Reynolds, an attorney and vice president for Toyota, said in a statement.

In the past, the carmaker blamed driver error, faulty floor mats and stuck accelerator pedals for the problems.

A highway tragedy in suburban San Diego sparked the recalls and numerous

lawsuits against the Japanese carmaker.

An off-duty California Highway Patrol officer and three family members were killed after he lost control of the car, a Toyota-built Lexus, in a grisly accident. The car reached speeds of more than 120 miles per hour before it hit an SUV, launched off an embankment, rolled several times and burst into flames.

That case was settled for $10 million before similar cases were consolidated in federal court.

At the end of 2012, Toyota agreed to pay a $1 billion payout to settle claims from owners who said the value of their vehicles dropped after the recall.

In the Orange County

case, half the $16 million will go to a gang reduction program and the other half will be used to pay the costs of the case and the pursuit of future economic crime

cases.

According to press reports, Bob Barker Lexus, the dealership that lent the Lexus, is seeking protection for itself in court.

4/8/13 5:39 PM

 ÛÛ�ÛÛÛApril 15, 2013

USED CAR NEWS

NEWS BRIEFS Consumers Prefer to Sell Cars Than Donate Them to Charity

A new Kars4Kids survey revealed that despite high awareness and knowledge (88 percent) of tax credit eligibility for making non-cash charitable donations, most U.S. adults opt to sell their used cars instead of donate them.

The survey also indicated that only 10.5 percent of U.S. adults have donated a car. The study was conducted in March among 1,000 U.S. adults ages 18 and older.

Only 5.4 percent of adults reported donating their used cars when they purchased a new one. Additionally, 4.6 percent of adults will keep their old cars and not use it.

was a record-setting year for its Automotive Loan Origination System, with more than 10.8 million loan applications and 3.7 million contracts processed through the company’s auto lending platform.

This marks a 31 and 33 percent year-over-year increase for applications and contracts, respectively.

Volvo CPO Uses Carfax

Carfax has been chosen by Volvo Cars of North America to provide vehicle history information for the Volvo Certified Pre-Owned program.

Since 1999, certified Volvo dealers have run a Carfax vehicle history report on all Volvo cars submitted for certification. Under the renewed agreement, Volvo and its certified Loan System Sets Record Fiserv Inc. announced that 2012 dealers are providing consumers

MILESTONES Former auto dealer and auction partner Robert Brest, 87, died on March 30.

Brest spent over 50 years in the auto business, most recently as partner with Jim Lamb of Lynnway Auto Auction, where he had worked since 1997.

He previously owned several dealerships in the larger Lynn, Mass., area.

A graduate of the University of Washington, Brest was a former

president of the Lynn Chamber of Commerce and a WW II veteran.

Services were held at the Temple Emanu-El, in Marblehead, Mass.

C R O S S WO R D

by Myles Mellor

PAGE 25

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GM Financial Closes Ally Deal

General Motors Financial Company Inc. has acquired the equity interests in the top-level holding companies that comprise substantially all of Ally Financial Inc.’s auto finance and financial services business in Europe and Latin America.

The purchase includes operations in Germany, United Kingdom, Italy, Sweden, Switzerland, Austria, Belgium, the Netherlands, Chile,

Colombia and Mexico.

The international operations will continue to offer a full range of retail and lease financing, dealer loans and related services.

The international leadership team and employees will transition to GM Financial with no disruption to the service provided to GM customers and stakeholders.

The purchase agreements between GM Financial and Ally, announced in November, also include international operations in France, Brazil and China, which are pending certain regulatory and other approvals and are expected to close later in the year.

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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.

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April 15, 2013 t 5

USED CAR NEWS

Hyundai, Kia Issue Recall looking for a

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WE BUY BHPH NOTES Hyundai and Kia are recalling almost 2 million cars and SUVs. Hyundai is recalling 1,059,824 model year 2007-2009 Accent and Tucson, model year 2007-2010 Elantra, model year 2007-2011 Santa Fe, model year 2008-2009 Veracruz, model year 2010-2011 Genesis Coupe, and model year 2011 Sonata vehicles.

The stop lamp switch in the affected vehicles may malfunction.

A malfunctioning stop lamp switch may cause the brake lights to not illuminate when the brake pedal is depressed or may cause an inability to deactivate the cruise control by depressing the brake pedal.

Additionally, a malfunctioning stop lamp switch may also result in intermittent operation of the push-button start feature, affect the operation of the brake-transmission shift interlock feature, preventing the shifter from being moved out of the park position and cause the electronic stability control malfunction light to illuminate.

Failure to illuminate the stop lamps during braking or inability to disengage the cruise control could increase the risk of a crash.

Hyundai will notify owners, and dealers will replace the stop lamp switch, free of charge.

The safety recall will begin by June. Hyundai’s recall campaign number is 110.

Kia is recalling 623,658 model year 2007-2010 Rondo and Sportage, model year 2007-2011 Sorento, model year 2007 Sedona, model year 2010-2011 Soul, and model year 2011 Optima vehicles for the same problem. Kia’s recall campaign number is SC098.

Hyundai also is recalling 186,254 model year 2011-2013 Elantra vehicles manufactured from Nov. 12, 2010, through March 5, 2013.

A support bracket attached to the headliner may become displaced during a side curtain airbag deployment.

If the headliner support bracket makes contact with an occupant

UCN_05.indd 1

during a crash, it may cause a laceration injury.

Hyundai will notify owners, and dealers will apply adhesive strips to the headliner, free of charge.

A remedy is expected to be available in May. Hyundai’s recall campaign number is 109.

In related news, the National Highway Traffic Safety Administration announced a new iOS app for iPhones and iPod touches that will provide real-time vehicle safety information to consumers from NHTSA’s SaferCar.gov site.

NHTSA’s SaferCar app allows users to search its 5-Star Safety Ratings for vehicles by make and model, locate car seat installation help, file a vehicle safety complaint, find recall information and subscribe to automatic notices about vehicle recalls.

NHTSA will also give developers real-time access to the data that powers this app through an Application Programming Interface (API), enabling them to integrate these data into new and existing apps and empowering consumers with important safety information.

The announcement is just the first phase for the SaferCar app for iPhone and iPod Touch devices, which can be downloaded from Apple’s iTunes Store. Development is also underway for a version compatible with Android devices.

The launch of the NHTSA app is part of ongoing efforts by the nation’s chief automotive safety agency to make it easier for consumers to access and submit information about important vehicle safety concerns.

Earlier this year, the agency also updated resources on its www.

SaferCar.gov website to enable consumers to quickly locate information on specific safety defect investigations, complaints and vehicle recalls.

The app launch coincides with the release of the NHTSA Application Programming Interface (API) — a new way to provide safety data.

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USED CAR NEWS

Lien Fraud Leads to Prison Time A former Oklahoma used-car dealer has been sentenced to serve 16 months in prison for making a false statement to a federally insured credit union.

In addition, he was ordered to pay $276,216.57 in restitution to his victims.

In 2008 and 2009, John B. Langley owned and operated J&K Langley Corp., which sold used cars in Oklahoma City under the name Bargain Network Auto Sales. In June 2012, Langley was indicted for borrowing money from Municipal Employees

Credit Union and pledged vehicles on his lot as collateral, when he knew that those vehicles had been pledged to Floorplan Xpress.

The indictment also alleged that Langley defrauded the credit union by selling collateralized vehicles and failing to give the proceeds to the credit union to satisfy his loans.

On Nov. 7, Langley pled guilty to giving a fictitious lien release letter on Floorplan Xpress letterhead to Municipal Employees CU dated March 23, 2009, in connection with a loan for a 2009 Nissan Maxima.

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April 15, 2013 t 7

USED CAR NEWS

High Satisfaction Draws Consumers to Car Sites Third-party automotive websites have an opportunity to create loyal and outspoken advocates by providing a satisfying website experience, whether consumers are shopping for a new or used vehicle, according to the J.D. Power and Associates 2013 Third-Party Automotive Website Evaluation Study.

The inaugural study measures the usefulness of third-party automotive websites during the new- and used-vehicle shopping process by examining four key measures (in order of importance): information/ content; navigation; appearance; and speed.

Overall satisfaction with thirdparty automotive websites averages 725 (on a 1,000-point scale).

The study finds a high correlation between overall satisfaction with a third-party automotive website and the likelihood to recommend and return to the site.

“The websites with the highest overall satisfaction also have the highest advocacy and loyalty rates in the study,” said Arianne Walker, J.D. Power’s senior director of media and marketing solutions.

“A more satisfying experience will keep shoppers coming back, positively impacting site analytics and increasing exposure to the revenuegenerating advertising on the sites.”

Providing a satisfying experience on third-party automotive websites comes with certain challenges that manufacturer sites do not have.

For instance, third-party sites need to strike a balance between the content provided and the revenue-generating advertising content.

In addition, shoppers expect thirdparty sites to have information and images on all makes and model years.

“The large amount of information required for third-party automotive sites to be useful presents a unique challenge, as the information must be organized in a user-friendly way, weighing heavily on strong navigation and good user experience principles,” Walker said.

Additionally, the study finds that satisfaction is higher among newvehicle shoppers than among usedvehicle shoppers (735 vs. 715, respectively).

One of the contributing factors to this difference in satisfaction is the disparate experience shoppers often have when trying to locate vehicle information for new vs. used vehicles.

A key contributing factor to a less satisfying experience when shopping for used vehicles, compared with new vehicles on a third-party site, is that shoppers have to make

very specific decisions regarding a vehicle model -such as model year or trim level-in order to explore available content.

In contrast, when shopping for new vehicles, shoppers are able to obtain vehicle content more quickly and without requiring decisions regarding vehicle details before exploring the model, creating a more seamless experience as they view multiple vehicles.

“With most third-party automo-

tive sites, the shopping experience is different among new- and usedvehicle shoppers,” Walker said.

“Websites that perform particularly well in the study provide a consistent shopping experience, including much of the same content, for both groups of shoppers.”

Cars.com ranks highest in the inaugural study with a score of 782.

Following Cars.com in the rankings is Kelley Blue Book (777) and AOL Autos (753).

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PAGE 8 - Dealer Software Management

Right DMS Boosts Productivity, Aids with Compliance

By Jeffrey Bellant

Dealer management systems remain a key tool for independent used-car dealers. Finding the right system is key for sales and legal protection.

Chris Martin, president of the National Independent Automobile Dealers Association, said DMS programs have come a long way.

“There have definitely been dramatic improvements over the years,” Martin said, “as well as an increase in providers.”

The evolution of these systems is evident in his own business, he said.

“We have gone from a simple in-house DMS a decade ago,” Martin said, “to a much more robust system that easily walks your through all the steps for any type of transaction.”

Martin, president of Team E-Z Auto Inc. in Fayetteville, N.C., uses a DMS system from Carolina Dealer Solutions/KGI Solutions.

He expects his DMS to handle the issues involved in a business model different from most.

“We have used a leasehere, pay-here model for almost 21 years,” he said. “And it does require that a DMS that can originate and service true leases.”

Martin said outside of the issues involved in running a lease-here, pay-here business, he wants a DMS system that has specific features and benefits.

He wants a system that is user-friendly up front. He also needs it to offer great customer service, integrate with other vendors and prints out all documents “without have to jump back and forth between systems.”

But the issue that hangs over every dealer’s head, especially in this business environment, is compliance.

It’s one of the biggest changes that Martin has seen over the years with DMS programs.

“Most of the DMS providers take compliance seriously and offer regular updates as things change,” Martin said.

Attorney Tom Hudson, a partner with Hudson Cook LLP in Hanover, Md., has experience working with

DMS companies and on compliance.

“We represent a number of DMS companies,” he said.

“I know that our companies stay up-to-date on compliance issues and I suspect that others do as well.”

He said in modern business, a solid DMS is a must.

“I don’t see how a dealer can operate without a DMS,” Hudson said. “I’m sure that somewhere out there, some dealer’s doing just fine without one, but I can’t see how.”

Hudson said DMS providers couldn’t afford to slack off on compliance issues.

But he said a solid and reputable DMS provider is that it can help dealers stay out of trouble. So business owners should do their due diligence.

“Dealers ought to ask pointed questions about how the company they are considering keeps up with legal compliance developments,” Hudson said, “and how often they update their legal knowledge.”

Martin recommends that dealers take their time and “test-drive” each DMS they are considering.

Illustration by Joe Schlaud

Online Tools Help Dealers Move Metal More Efficiently

By Jeffrey Bellant

LAS VEGAS - Multi-platform selling can be a boon for consignors, but others still have questions about the emerging strategy.

Bob Graham, ARI’s vice president of vehicle remarketing, and Karen TannerSmith, director of OneMain Remarketing, discussed the ins and outs of selling across multiple platforms during a discussion at the recent Conference of Automotive Remarketing.

Dozens of remarketing professionals attended the roundtable, which touched on several issues involving the strategy.

Multi-platform selling may be defined differently from consignor to consignor, Graham said.

“But really, the technical (meaning) of multi-platform selling is taking your vehicles and putting them online, on multiple platforms, all simultaneously,” Graham said. t "QSJM , 2013

UCN_08.indd 1

So a vehicle might be on OpenLane, SmartAuction, an international platform, etc., at the same time.

Graham said ARI has been doing multi-platform selling for eight to 10 years.

“We built the hub (of our multi-platform system) ourselves,” Graham said.

So every vehicle that ARI has comes through the single hub, where digital pictures are taken and condition reports are written.

Then it sends the vehicle out to the multi sales channels.

“Right now, our vehicles will be on a minimum of four or five platforms, and as many as 14 or 15 platforms, concurrently,” Graham said.

Those are virtual live sales, or within five minutes of “live.”

ARI will have a floor for every vehicle, so that once a bid is made, ARI knows that it has at least achieved its floor on the vehicle.

“For us, it’s a way to do the one thing all remarketers

want to do,” Graham said, “(which is) to get maximum exposure for the vehicle.”

In the past, getting a vehicle to a physical auction where you could get the most bodies in the lane was critical.

Today, it’s the same, but online venues allow a consignor to get much more exposure.

For those looking at the idea of multi-platform selling, there are a couple of ways to go about it.

One is to do what ARI did and build it from scratch.

There are also other providers, including Liquid Motors and AIM. Greg Lubrani, chief operating officer for Liquid Mo- ASSETS: Greg Lurani of Liquid Motors explains how companies like his expand the wholesale options for consignors. tors, said multi-platform remarketing technology to remarketing is simply fol- simultaneously. lowing what retail deal“Now it’s being adopted on push inventory to Openlane, ers have been doing for the wholesale side,” he said. OVE and SmartAuction, Luyears, placing cars on eBay, So Liquid Motors was ap- brani said.

AutoTrader and Craigslist, proached about developing Continued on page 10

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USED CAR NEWS

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– from page 8

Similar to ARI, the system works Not surprisingly, one attendee so that when a floor price is reached said the biggest problem he has on a specific platform, the vehicle with multi-platform selling is when gets pulled from the other plat- the vehicle is misrepresented on the forms and bidding continues in the condition report and the consignor final channel until there’s a winning loses the sale. bid.

But Graham said a bad CR is not Ricky Beggs, of Black Book, ques- a result of multi-platform selling. tioned whether a consignor could A bad CR is going to be a problem end up losing a higher bidder by whether a vehicle is sold over one dropping the other platforms once online venue or a dozen. a floor has been reached.

But Lubrani said there is another Graham acknowlway to use multi-platedged that there is form selling. a possibility that it sell“Multi-platform ing“Multi-platform could happen, but this doesn’t necessarily system is still at stage selling doesn’t have to be simultaneone in its evolution. ous,” he said. Each “From a technol- necessarily have to channel has its own ogy standpoint, we be simultaneous.” niches. For example, currently don’t have if he is selling HonGreg Lubrani cross-bidding (availdas from his portfolio able) across all platand feels they do reforms,” Graham said. ally well in one venue, Tanner-Smith said he can push those her firm is not doing multi-platform through that channel first, and push selling. other vehicles to other sites.

For her, questions over titles, arThen, if the cars don’t sell after a bitration and grounding are some couple of days, he can place them in issues to be sorted out before she all channels, if needed. enters the fray.

“Everyone has those niches,” LuBut Graham said all those same brani said. “It’s understanding what issues occur in single platform sell- those niches are and capitalizing on ing, such as an online sale. So the them to turn your inventory faster. multi-platform sale is no different “That’s one of the powerful pieces in that way. of multi-platform selling.”

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UCN_10.indd 1

4/8/13 5:12 PM

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UCN_11.indd 1

4/4/13 11:38 AM

12 t "QSJM 15, 2013

USED CAR NEWS

Wholesale Prices Drop Wholesale used vehicle prices (on a mix, mileage, and seasonally adjusted basis) fell in March.

It was the third consecutive monthly decline, and it brought the Manheim Used Vehicle Value Index reading to 120.4, 4.6 percent lower than a year ago.

A straight average of auction prices for rental risk units reached a new high in March, but this mostly reflected a shift in the composition of vehicles sold.

For example, in the first quarter of this year, current and previous model year vehicles accounted for 61 percent of all of rental risk units sold, and older units accounted for

the remaining 39 percent.

In the first quarter of last year, current and previous model year vehicles accounted for only half of all rental risk units sold.

The model mix of vehicles sold at auction has also moved upscale relative to last year.

The average mileage on rental risk units sold during the quarter was about 5 percent lower than last year.

Despite improved commercial consignment volumes, the average mileage for all units sold continued to rise in the first quarter.

Shifts in average mileage and volume sold by price tier showed no meaningful differences.

Manheim Used Vehicle Value Index 130 125 120 115 110

Call Now! Michael Diaz

1.800.467.5172

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105 100 95 90 Jan-95

Jan-97

Jan Feb March April May June July Aug Sep Oct Nov Dec Annual Avg.

Jan-99

Jan-01

Jan-03

Jan-05

Jan-07

Jan-09

Jan-11

2007

2008

2009

2010

2011

2012

2013

113.3 113.3 114.1 114.2 114.7 114.9 114.9 115.1 115.8 113.9 111.9 110.2 113.9

109.1 108.1 107.7 108.4 107.5 107.8 109.9 110.7 110.8 104.2 98.3 98.0 106.7

101.7 105.5 106.1 106.6 109.1 114.1 115.4 116.4 118.5 117.4 117.4 117.5 112.1

117.6 118.1 119.9 120.7 121.0 120.2 118.9 118.8 118.9 122.9 124.3 124.4 120.5

124.9 123.6 124.2 126.6 127.8 127.5 125.9 123.7 122.9 122.8 123.8 125.1 124.9

125.7 125.8 126.2 126.1 125.1 123.4 121.2 120.7 120.7 121.9 122.6 124.1 123.6

123.4 122.0 120.4

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UCN_12.indd 1

Jan-13

Reduce your costs Control Your Risk Sell More Cars Source: Manheim Consulting

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4/8/13 3:45 PM

Your source for quality, value, selection: Chase.

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May 2013 Chase High Lines, featuring Jaguar Land Rover Financial Group

Chase ADESA Boston May 3, 17, 31 508-626-7000

Brasher’s Salt Lake AA May 21 801-322-1234

Manheim New Jersey May 8, 22 609-298-3400

ADESA Charlotte May 2, 16, 30 704-587-7653

Columbus Fair AA May 15, 22 614-497-2000

Manheim New Orleans May 22 985-643-2061

ADESA Cincinnati/Dayton May 14 937-746-4000

Manheim Atlanta May 9, 22, 23 404-762-9211

Manheim Orlando May 7, 14, 21, 28 800-337-8491

ADESA Golden Gate May 7, 21 209-839-8000

Manheim Baltimore Washington May 7 410-796-8899

Manheim Pennsylvania May 9, 10, 23, 24 800-777-2053

ADESA Houston May 1, 15, 29 281-580-1800 ADESA Indianapolis May 14, 28 800-925-1210 ADESA Kansas City May 14, 28 816-525-1100 ADESA Lexington May 2, 30 859-263-5163 ADESA New Jersey May 9, 23 908-725-2200 ADESA San Diego May 23 619-661-5565 ADESA Tulsa May 10 918-437-9044 America’s AA-Chicago May 15 708-389-4488

Manheim Dallas May 8, 22 877-860-1651 Manheim Denver May 8 800-822-1177 Manheim Detroit May 2, 16, 30 734-654-7100 Manheim Fredericksburg May 9 540-368-3400 Manheim Milwaukee May 8, 22 262-835-4436

Manheim Phoenix May 2, 9, 16, 23, 30 623-907-7000 Manheim Pittsburgh May 8 724-452-5555 Manheim Riverside May 2, 7, 14, 16, 28,30 909-689-6000 Manheim Seattle May 1, 29 206-762-1600 Southern AA May 1, 29 860-292-7500

Manheim Minneapolis May 1, 29 763-425-7653 Manheim Nashville May 1, 15, 29 877-386-5004 Manheim Nevada May 10 702-361-1000

Choose Chase on ADESA.com and OVE.com for quality bank-sourced vehicles.

Contact auctions directly for current sale information.

ADESA Boston May 17 508-626-7000

Manheim Dallas May 8 877-860-1651

Manheim Pennsylvania May 9, 23 800-777-2053

ADESA Golden Gate May 21 209-839-8000

Manheim Milwaukee May 8 262-835-4436

Manheim Phoenix May 2 623-907-7000

Manheim Atlanta May 22 404-762-9211

Manheim Orlando May 14 800-337-8491

Manheim Riverside May 2, 16, 30 909-689-6000

Mazda Capital Services ADESA Boston May 3, 17, 31 508-626-7000

Manheim Detroit May 2, 16, 30 734-654-7100

ADESA Charlotte May 2, 30 704-587-7653

Manheim Fredericksburg Manheim Phoenix May 16 May 9 623-907-7000 540-368-3400

Columbus Fair AA May 22 614-497-2000

Manheim Milwaukee May 22 262-835-4436

Manheim Pittsburgh May 8 724-452-5555

Manheim Atlanta May 23 404-762-9211

Manheim New Jersey May 8 609-298-3400

Manheim Riverside May 7 909-689-6000

Manheim BaltimoreWashington May 7 410-796-8899

Manheim Orlando May 28 800-337-8491

Manheim Seattle May 1, 29 206-762-1600

Manheim Pennsylvania May 10, 24 800-777-2053

Subaru Motors Finance ADESA Boston May 3, 31 508-626-7000

Manheim Fredericksburg Manheim Pennsylvania May 10 May 9 800-777-2053 540-368-3400

Brasher’s Salt Lake May 21 801-322-1234

Manheim Milwaukee May 8 262-835-4436

Manheim Pittsburgh May 8 724-452-5555

Columbus Fair AA May 15 614-497-2000

Manheim Minneapolis May 1, 29 763-425-7653

Manheim Riverside May 14 909-689-6000

Manheim Denver May 8 800-822-1177 Manheim Detroit May 2, 16, 30 734-654-7100

Manheim New Jersey May 22 609-298-3400 Manheim Orlando May 7 800-337-8491

Manheim Seattle May 1, 29 206-762-1600 Southern AA May 1, 29 860-292-7500

*The tradename “Subaru Motors Finance” and the Subaru logo are owned / licensed by Subaru of America, Inc. and are licensed to Chase Bank USA, N.A. (“Chase USA”) and JPMorgan Chase Bank, N.A. (“Chase”). Retail / Loan accounts are owned by either Chase or Chase USA and lease accounts are owned by Chase. *Jaguar, the Jaguar logo, and Jaguar Financial Group are trademarks of Jaguar and any use by JPMorgan Chase Bank, N.A. (“Chase”) is under license. Land Rover, the Land Rover logo, and Land Rover Financial Group are trademarks of Land Rover 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 JPMorgan Chase Bank, N.A. (“Chase”). Retail / Loan and lease accounts are owned by Chase. © 2012 JPMorgan Chase Bank, N.A. Member FDIC. All rights reserved. (12-381) 06/12

UCN_13.indd 1

4/5/13 2:02 PM

14 t April 15, 2013

USED CAR NEWS

Spring Market for Classic Cars Gets Off to Strong Start

By Jenny King

AMELIA ISLAND, Fla. – It was spring on Amelia Island in early March, time for the annual Concours d’Elegance of elegant and unusual cars plus the opportunity to shop classics at two auctions.

In anticipation of a heightened interest in collectibles, RM Auctions staked out the grounds of the local Ritz-Carlton to display 88 vehicles for sale March 9.

Among them was a 1935 Duesenberg SJ Convertible with supercharged V-8, a 1970 Porsche 908/3 and a 1955 Mercedes-Benz 300SL Gullwing that had been owned by the same family throughout its history.

The Duesenberg brought a hammer price of $4.51 million, making it the top seller of the 81 that changed hands. Total selling price for vehicles sold was $26.8 million, according to Ontario-based RM Auctions.

RM adds that all prices are in U.S. dollars and include, for cars, a 10 percent buyer’s premium. There was a 15 percent premium for all other lots.

The 2013 inventory included Duesenbergs, various exotics with Italian accents (and coachwork), Stutzes, Mercedes Gullwings, Porsches and Cords.

A 1966 Shelby Cobra brought $836,000; a 1911 Lozier Model 51 seven-passenger Touring went for $1.1 million, doubling its pre-sale estimate of $400,000 to $600,000.

It had been offered with no reserve.

A plain-looking but important Marmon - a rare and historically significant 1932 HCM V-12 twodoor prototype with overhead-valve aluminum V-12 - sold at auction for $407,000.

A 1970 Porsche 908/3 racecar, restored in 2005 and authenticated by the Porsche factory, raised the bidding to $1.3 million but did not sell.

A 1955 Mercedes-Benz SL Gullwing suffered the same fate, its owner eschewing a final bid of $910,000.

This Gullwing had been in the same family since purchased new close to 60 years ago.

Another no-sale was a 1939 Alfa Romeo with a pre-auction estimated value of $1.5 to $1.75 million.

The high reached $900,000 before bidder lost interest - or courage.

This sleek 1930s-styled Superleggera coupe, one of only 13 built and featuring a 95-horsepower inline six, had right-hand drive, aluminum coachwork and a 118-inch wheelbase. The Alfa had a complete restoration commencing in 1994.

Co-owner Malcolm Harris reportedly was involved in the project,

WARMING UP: This 1965 Mercedes-Benz 220 SE cabriolet, with a history of single-family ownership for some 30 years, sold for $82,500 at a recent classic car auction.

investing some 1,500 hours in the dismantling and re-assembling of the fender-skirted Alfa, which won an award at the 1998 Pebble Beach Concours.

Looking somewhat out of place, the ’32 Ford-based hot rod known as Chromezilla shared a display room inside the Ritz-Carlton with vehicles like the $4.5-million 1935 Duesenberg SJ cabrio. Its backgrounder said that Steve and Sheri Tracy of Advance Plating in Ten-

nessee commissioned Greening Automotive of Coleman, Ala., to handle the project. Raising the bar more than a little, Greening added custom-fabricated tubular crossmembers to the boxed and reinforced Deuce-style frame, had over 900 bolts and fasteners hand-fabricated and supervised the chrome plating of 2,500 components. When completed, Chromezilla began winning major awards, starting with the 2005 Autorama in Detroit.

,

It s a Classic!

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4/4/13 11:32 AM

16 t "QSJM , 2013

USED CAR NEWS

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KANSAS CITY, Mo. (AP) – To call Tim Sylvester a road builder misses the point. The streets he intends to build are embedded with electronic sensors that may keep cars of the future from speeding, veering and crashing.

A few blocks from Sylvester’s Integrated Roadways office in Kansas City, doctoral candidate Amol Khedkar is toiling on his own prototype for a software system that would let cars talk to one other, synchronizing their own movements.

The vehicles could automatically change lanes and make turns without humans mucking things up.

Khedkar had better put the pedal to the metal. He’s three years into his dissertation project – and in just that time, the worldwide race to develop so-called driverless vehicles has reached breakneck speeds.

Much of the technology already is on the streets. Newer, higherend automobiles can parallel-park themselves, creep through traffic jams on their own, alert drivers to blind side intruders, keep wheels from rolling onto centerlines and spot deer in the road before headlights can.

Google and other innovators say they may be just five years away from having all the tools and knowhow to market what researchers

call “a fully autonomous vehicle� – where steering, braking and turns can be safely performed without manning the controls.

The bandied-about term “driverless’’ doesn’t mean there’s nobody at the wheel, though some scenarios project that day will come. Driverless means nobody needs to be there because internal and external sensors, plus satellite magic, allow the vehicle to drive itself.

The question has sped beyond whether or not technology will ever let motorists read a magazine en route to work, which techies say is a reality nearer than you think.

Rather, society has begun to ask: Do we really want this?

Computer engineer Don Wunsch voices an emphatic yes. “The days of human drivers deserve to be numbered,� said Wunsch, a professor at the Missouri University of Science & Technology in Rolla. “Humans are lousy drivers. It’s about time computers take over that job.�

Since 2011, three U.S. states where much of the corporate testing is taking place – California, Nevada and Florida – have enacted laws legalizing driverless vehicles. Michigan, Oklahoma and New Jersey have similar bills in the works.

KENTUCKY DERBY SPECTACULAR Thursday, May 2 It’s a show like no other, full of raw horsepower. Fast moving and full of action with over a 1,000 vehicles running in the lanes.

Featuring: Santander, Kia, Hyundai, US Bank TopLine, Chase

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UCN_16.indd 1

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Save the date now to join us for our annual Derby Spectacular Sale at ADESA Lexington.

4/8/13 2:20 PM

April 15, 2013 t 7

USED CAR NEWS

Dealer Charges Soldier Too Much A federal grand jury indicted an Alabama used-car dealer for violating federal protections for activeduty military service members The dealer allegedly refused to reduce the loan interest rate and repossessed the vehicle he sold to a man who was later deployed overseas with the Alabama National Guard.

A two-count indictment filed in U.S. District Court charges Carl Ralph Nuss with violating the Service Members Civil Relief Act. The act restricts or limits civil actions in the areas of financial management, including rental agreements, security deposits, evictions, installment contracts, credit card interest rates, mortgages, civil judicial proceedings and income tax payments, against service members called to active duty.

Nuss, owner of North Alabama Wholesale Autos in Cullman, sold a 2002 Ford Sport-Trac in February

2011 to a 22-year-old man.

The dealership sold the vehicle for $9,746 and, after a $2,200 down payment, financed the balance at 25 percent interest per year, according to the indictment.

In May 2012, the guardsman, a private first class, was called to active duty in Afghanistan.

In July 2012, according to the indictment, Nuss received a letter from the service member requesting that the dealership reduce the interest rate on his car loan from 25 percent to 6 percent, as required by the act.

Nuss never reduced the interest rate and, two days after receiving the letter, hired two men to repossess the truck. The two men repossessed the vehicle without a court order, in violation of the Act, the indictment states.

The maximum penalty for each count is one year in prison and a $100,000 fine.

Site Ranks States’ Insurance Costs Insure.com’s annual study of car insurance rates in each state shows who’s paying the biggest bills.

Overall, when averages of all vehicles are considered, Louisiana and Michigan are the most expensive

places to buy auto insurance. Maine residents enjoy the lowest average annual rates.

Frequent and expensive auto insurance claims among residents propel states to the top rankings.

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IAA is a registered trademark of Insurance Auto Auctions, Inc.

104746-03_Jan2013_Ads_UsedCarNews_20121218_v1.indd 1 UCN_17.indd 1

12/18/12 1:09 PM 4/8/13 5:29 PM

18 t April 15, 2013

USED CAR NEWS

Feds Bust Fake Airbag Seller You’ve got paper.

We’ve got cash.

Let’s talk.

Flow Program Bulk Purchasing

1-800-994-0898 www.sfgfinance.com tpc_2Q-CAC_1-2UCN.pdf

4.437X6.125USEDCARNEWS122412.indd 1

1

3/27/13

1:07 PM

Where Relationships and Integrity Matter.

A Vancouver, Wash., man was arrested on a four-count indictment charging him with trafficking in counterfeit goods.

Vitaliy Yaremkiv was arrested April 2.

Prosecutors allege that between June 2011 and June 2012, Yaremkiv sold more than 900 +FOOZ " counterfeit veDurkan hicle airbags he had purchased from a source in China.

If convicted, Yaremkiv faces up to 10 years in prison and a $2 million fine.

Trial in the case is scheduled for May 28. “Counterfeit airbags shred the safety systems built into our cars, which could cause catastrophic results� said U.S. Attorney Jenny A. Durkan.

The case was investigated by the Federal Bureau of Investigation and Homeland Security Investigations.

According to the indictment, Yaremkiv operated Vital Auto Parts and Sales out of his home.

He allegedly imported counterfeit Honda, Subaru and Toyota

airbags from sources in China and elsewhere, and sold them over the internet representing them as the genuine product.

Yaremkiv sold at least 964 of the counterfeit airbags via eBay with a sales total of $137,243.

Yaremkiv sold individual Honda airbags for an asking price of $110.

Investigators believe that many of the airbags are sold to independent garages who install them in vehicles believing they have purchased a genuine airbag. “While law enforcement is working to stem the flow of these dangerous products into the U.S., it’s important that consumers are aware of this danger,� said Brad Bench, special agent in charge of HSI Seattle. “Automobile safety experts say it’s critical that vehicle owners work with their automotive dealers and repair professionals to ensure they use the appropriate, original equipment parts in the event they need to replace their air bag.�

FBI agent Carlos L. Mojica said, “Every day, people entrust their lives to safety devices because they have been thoroughly researched, rigorously tested, and carefully constructed. Counterfeit devices do not carry that same guarantee, threatening the lives of unknowing users and violating their trust.�

12/24/12 1:38 PM

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UCN_18.indd 1

4/8/13 2:21 PM

April 15, 2013 t 19

USED CAR NEWS

CFPB Launches Database The Consumer Financial Protection Bureau went live with the nation’s largest public database of federal consumer financial complaints, opening up to consumers across the country information on more than 90,000 individual complaints on financial products and services.

The launch expands the Consumer Complaint Database significantly from about 19,000 credit card complaints to more than 90,000 complaints on mortgages, student loans, bank accounts and services, other consumer loans, and credit cards. In many cases, it includes the sub-category of products. For example, for mortgages it includes reverse mortgages, conventional fixed mortgages, conventional adjustable mortgages, and home equity loans or lines of credit.

The database allows the public to see what consumers complained about and why, as well as how and when the company in question responds.

It has more than one million data points, covering approximately 450 companies. It includes the type of complaint, the date of submission, the consumer’s ZIP code, and the company that the complaint concerns.

The database also includes information about the actions taken on a complaint by those companies whether the company’s response was timely, how the company responded, and whether the consumer disputed the company’s response.

A consumer’s identity and other personal information are not included in the data.

The database allows users to easily track, sort, search, and download information. The data is also available via API (application programming interface), which allows developers to build applications, conduct analyses, and perform research. Consumers can build their own visualizations, charts and graphs.

The data can also be embedded on other websites and shared through social media.

The live database updates daily; so as the CFPB handles more complaints, more will be added. When the CFPB accepts consumer complaints about other financial products and services, they will be put on the database after a period of time.

For example, credit-reporting complaints, which the CFPB recently began to accept, will be included in the database in the near future.

Complaints are listed in the database only after the company responds to the complaint or after they have had the complaint for 15 days, whichever comes first. Importantly, while the allegations in the complaint are not verified, a commercial relationship between the consumer and the company is sub-

UCN_19.indd 1

stantiated before the complaint is added to the database.

Companies can categorize their response to a complaint in a number of ways. Examples, and what they mean, include: Ć€É&#x; )( . ,3É&#x;, &# ĹźÉ&#x; " É&#x;-. *-É&#x;. % (É&#x; by the company in response to the complaint resulted or will result in measurable and verifiable monetary relief to the consumer. É&#x; Ć€É&#x; &)- É&#x; 1#."É&#x; ()(Ć?')( . ,3É&#x; , Ć? lief: The result was not monetary relief, but may have addressed some or all of the consumer’s complaint involving non-monetary requests.

Looking for the best 20 Group experience? Ć€É&#x; &)- É&#x; 1#."É&#x; 2*& ( .#)(ĹźÉ&#x; " É&#x; result included an explanation that Look to NCM, the originators of automotive was tailored to the individual con20 Groups. Current programs include: sumer’s complaint. This category ĂœĂš9?G?ÂŁC?G?Ăš;]Yd]jk would be used if the explanation substantively meets the consumer’s ĂœĂš9?G?Ăš=afYf[] desired resolution or explains why ĂœĂš@f\]h]f\]flĂš;]Yd]jk no further action will be taken. Ć€É&#x; &)- ĹźÉ&#x; " É&#x; )'* (3É&#x; &)- É&#x;." É&#x; ĂœĂšLk]\ĂšM]`a[d]ĂšDYfY_]jk complaint without relief – monĂœĂš=jYf[`ak]\Ăš;]Yd]jkĂšYf\Ăš>Dk etary or non-monetary – or explanation. “We exchange ideas, discuss common Consumers are given the option problems and share solutions. It’s a healthy to review and dispute company remix of friends and colleagues.â€? sponses.

AaeÚ?]f\ja[ckgf•Ú8mlgkeYjlÚ8[[]hlYf[]Ú:gjh�

The CFPB then reviews that feedA S S O C I A T E S back.

Welcome to the Conversation The CFPB uses this along with Visit ncm20groups.com or call 877.803.3631 to learn more. other information, such as the timeliness of the company’s response, in a variety of ways, for example, to help prioritize complaints for in8538_NCM_UsedCar_Print V2.indd 1 3/25/13 vestigation.

The expanded Consumer Complaint Database went live at: www. consumerfinance.gov/complaintdatabase.

A blog about the data and an interactive example of what can be done with it, can be found at: http:// www.consumerfinance.gov/ blog/ releasing-complaint-data-aboutcredit-cards-mortgages-studentloans-bank-accounts-services-andother-consumer-loans/.

The CFPB is encouraging the public, including consumers, analysts, developers, data scientists, civic hackers, and companies that serve consumers, to analyze, augment, and build on the public database to develop ways for consumers to access the complaint data or mash it up with other public data sets.

The CFPB would like the public to highlight innovative uses of the data, from visualizations to new tools, by tweeting @CFPB using the hashtag #CFPBdata.

The CFPB also published on its website another report containing aggregate data and analysis of all the 130,000 complaints it has received /*É&#x;.)É&#x; , "É&#x;ŹźÉ&#x; "#-É&#x;(/' ,É&#x;#-É&#x;& ,! ,É&#x; than the 90,000 complaints in the public database because it includes complaints that have been referred to other regulatory agencies, found to be incomplete, are still being confirmed by the company, or are pending with the consumer or the CFPB.

11:06 AM

4/8/13 2:22 PM

20 t April 15, 2013

USED CAR NEWS

NIADA Taps Inspection Outfit Alliance Inspection Management, a provider of vehicle inspection services, has become the first corporate partner of the National Independent Automobile Dealers Association to offer members both independent inspections and an online wholesale multi-platform selling tool in AIM MarketConnect.

“The NIADA endorsing AIM’s vehicle inspection services and AIM MarketConnect is truly an honor,” said Eric Widmer, AIM’s vice president of sales and operations. “NIADA members will find AIM’s MarketConnect and vehicle inspections are great tools for independent dealers to improve their operations and profits.”

AIM MarketConnect begins with a comprehensive vehicle inspection by an AIM inspector, who creates an online vehicle condition report, with photos, that can easily be sent

to multiple marketplaces.

The condition report, or “virtual vehicle,” is then posted simultaneously to the three primary online auctions: OVE.com, OpenLane.com and SmartAuction.com.

The product’s software allows the seller to manage the sales process upstream by allowing the user to set price of the vehicle, define where the vehicle is sent for sale and has the technology to prevent multiple bids.

AIM has inspected more than 60 million new and used vehicles completed by 425-plus full-time employees.

“AIM is the first vehicle inspection company to participate with the NIADA,” said Scott Lilja, vice president of member services.

“AIM’s inspections and condition reports are reliable and trusted by the industry and consumers alike.

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April 15, 2013 t 21

USED CAR NEWS

RETAIL MARKETS TENNESSEE

Alan McFadden, president, Al’s Auto Mart, Portland, Tenn.: “We’ve been in business (at Al’s Auto Mart) for 12 years.

“I’m also president of the Tennessee Independent Automobile Dealers Association.

“I have two locations.

One is a cash lot. The other is a buy-here, pay-here lot called 109 Auto Sales that I’ve had for 20 years.

“In total, I keep about 125 vehicles between the two lots. That’s about my normal inventory.

“Last year, it was really difficult to obtain inventory.

This year has been much better.

“I get about 50 percent of my vehicles through Carmax and the rest through local auctions.

“We’ve done very well for the last couple of years in terms of increasing sales.

I’m averaging 75 per month for the year. But we sold 116 in February.

“Being prepared for the tax season with a little more inventory helped. I

UCN_21.indd 1

bought early for tax season.

I bought 100 cars back in November and December to get ready for it.

“Tax season lasted only about three weeks and it was strong. Last year, it was strung out over six weeks, but this year it was fast.

“Having the right mix of inventory – a lot of imports, like Hondas, Toyotas and Nissans – helped quite a bit, too. The most popular cars here are Nissan Altimas, Honda Civics and Accords.

“Our inventory is about 30 percent imports. I carry about 65 percent cars, compared to trucks and SUVs. “The average model year of our vehicles is a 2003.

The average mileage is about 125,000 to 130,000.

“The mileage has been higher than this time last year.

“We’re actually buying a lot of cars with 170,000 and 180,000 miles, that we never used to buy. We’re putting them on (buy-here, pay-here) notes for two years and everybody does great with them.

“We recon our vehicles.

We average about $350

Compiled by Jeffrey Bellant per car. That’s not bad. It’s pretty close to what it was last year.

“We have a three-bay mechanic shop. But that is strictly for the cars we sell.

“Overall, we’re about 65 percent buy-here, pay-here.

“Although 2013 has been great, I’m scared about 2014 because of Obamacare.

“We recently sold a 2005 Ford Freestyle. It had 143,000 miles. It sold for $8,995.”

VIRGINIA

Darryl Lawson, owner, Community Auto Sales Inc., Glen Allen, Va.: “I have just the one location.

“We probably keep anywhere from 22 to 28 units on the lot.

“That’s about the same as this time last year.

“We average about 13 units sold per month. Some months we do nine, others we sell 16.

“I do (source) some vehicles through new-car trades. I usually visit Manheim Fredericksburg and Manheim (Pennsylvania).

“We do subprime deals,

but mainly prime deals now.

“We sell a fair amount of Lexuses and BMWs, along with vehicles like 2007, 2006 Chevrolet Suburbans.

All my buddies say, ‘I don’t know how you sell that stuff,’ but it’s just that everyone knows where I’m at.

“Subprime makes up about 5 percent of my sales.

“About 60 percent of my units are imports and 40 percent domestic. That mix has stayed the same compared to last year.

“We carry 40 percent cars, 30 percent SUVs, and 30 percent vans and trucks.

“I also have two – what I call – ‘church vans,’ which are 12- passenger Ford vans.

“I probably average a 2009, 2010 model year. It’s newer stuff. About the oldest vehicle I have on the lot (at press time) is a 2006 Grand Cherokee.

“As far as newer vehicles, (at press time) I have three 2012 vehicles and one 2011.

“The average mileage overall is 60,000.

“For example, I have a 2011 Smart car with 8,000 miles and a Nissan Sentra with 32,000 miles.

“I’m able to (sell in this niche) because of my reputation. I’ll have someone call who wants a vehicle for their son.

“They’ll tell me they want a 2010 Xterra and around 35,000 miles and ask me to find it.

“However, finding inventory at the right price is bad.

I used to tell people who were looking for a car, ‘I’ll have it for you in 10 days, no problem. Now it’s like, it could be 10 days, 10 weeks or 10 months, to find that specific car.

“I outsource my detailing. I’m averaging anywhere from $75 to $125 per vehicle. But I buy low-mileage, one-owner, clean-Carfax units.

“They’ve been cleaned at the auctions already.

“As far as advertising, I’ll use Cars.com, AutoTrader and Craigslist – just hit everything out there. It does OK, but it’s not like the old days.

“I don’t do any television or radio.

“We just sold a 2011 Nissan Sentra. It had 34,00 miles.

We sold it for $12,800.”

4/8/13 2:23 PM

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WHOLESALE MARKETS NEW MEXICO

Ray Vickers, owner, Farmington Auto Auction, Farmington, N.M.: “We’ve been in business since November 1994.

“We’re just a small dealer sale. We have two lanes, but basically use one.

“Our volumes have been 125 per week. That’s what we’ve been averaging lately.

“Sales percentages have been over 60 percent. A recent sale was 68 percent.

This time of year, anybody can sell a car. You just have to find the cars.

“So things are pretty good.

“We draw about 100 dealers in the lanes. That’s up a little. Our dealer base has grown since we got a GSA contract in June last year.

So we’re getting exposure from that.

“We draw dealers from all over New Mexico, southern Colorado and southern Utah.

“New-car trades make up about 50 percent of our volume, and 20 to 25 percent is (used-car) dealer consignment. The rest is fleet-lease and repossessions.

“For the GSA sale, we’re

Compiled by Jeffrey Bellant

going to be getting 150 to 200 units in May. We’ve been told that GSA has allotted about 3,000 cars for our area. We may not get all of those, but that’s what has been (slated) for this area.

“The GSA sale has caused our average price (across the block) to go up to $6,000. But if you take the GSA vehicles out of the equation, our average sale price is about $3,800.

“From November to the end of March, it’s kind of hard to get cars because of tax season, which is the big deal here. Dealers here have said they felt the tax season started later and felt shorter.

“I think the pie is getting smaller (for retail tax season). Everybody’s doing taxes (for customers) and giving early returns. Several companies front customers the money as early as August or September.

“But I think the overall economy is still struggling.

I just got a report recently that our county lost 6,000 families in the last six months. They moved out.

“The oil and gas business

drives our local economy.

One reason is the price of natural gas is so cheap, there’s no reason to pull it out of the ground. On the oil side, our (previous governor) had all of these rules for oil sites that made it difficult for oil companies to operate. So we lost a lot of business to places like Pensylvania and North Dakota.

“Our new governor has been trying hard to turn this around.”

VIRGINIA

Mike Hockett, president and general manager, Tidewater Auto Auction, Virginia Beach, Va.: “We’ve been in business since 1967.

“We have eight lanes and we’re running all eight.

“In our regular weekly sale, we’ll run 1,200 and we run 300 during our Saturday public sale.

“Volumes initially were up but they’ve evened out with what they were last year.

“The reason why our volumes were up is that our sales percentages were not as good as last year.

“We’re running (low) 50s

for sales percentages.

“We run a buy-here, payhere product, for the most part. We have a large buyhere, pay-here presence in the Tidewater area.

“The new-car stores are selling cars. The independent buy-here, pay-here lots are full, but they are not selling (cars) at the retail level. They’re having a harder time moving their product.

“We’re probably drawing between 500 and 700 dealers in the lanes each week.

That’s about the same as last year. But the problem is they’re all fishing for the same fish. They all want the car that doesn’t exist.

“Ten years ago, a car at our sale might have an average of 80,000 to 100,000 miles.

Now you’d fight and kill to find a car with 80,000 miles on it.

“We’re seeing cars with 150,000 to 200,000 miles on them.

“For the most part, Hampton Roads is my source of vehicles. It’s the area that includes Chesapeake Bay, Norfolk, Virginia Beach, Suffolk, Portsmouth and

Newport News.

“Some of the dealers who are able to find the right cars are very happy. I think some of them are just throwing bait in the water and hoping for the best.

“But some other guys are scared of two things.

They’re afraid of Obamacare. I am, too. Dealers are edgy about the economy.

“Also, the tax season had a very small curve, not a giant leap like (in the past).

“In fact, this was the first year we weren’t allowed to sell major institutional cars for a whole month. They held cars until February.

They just felt the market wasn’t going to be there and the tax checks weren’t going to be cut.

“When that initial glut of cars came up at auction, the dealers were waiting like a punch of piranha.

“Dealer consignment makes up 70 percent of my volume.

“We also have a GSA sale, but the volumes will probably really start to come in (the next couple of months).

“These GSA vehicles are loaded up.”

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Buy-Here-Pay-Here

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UCN_22.indd 1

4/8/13 2:21 PM

April 15, 2013 t 23

USED CAR NEWS HPV UCN AD DUE 2013.04.04 OUTLINE.ai 1 4/4/2013 5:46:02 PM

Compiled By Jeffrey Bellant

AUCTION MARKS 35 YEARS

WINNER: John Brasher, left, congratulates Jafar Ghandian of Alpine Auto Sales, who won a classic Ford Mustang at the Brasher’s Sacramento anniversary sale.

Brasher’s celebrated 35 years in Sacramento with a two-day anniversary sale that broke attendance records and resulted in the sale of more than 1,600 cars and trucks.

The event kicked off with Brasher’s Live on Monday night, when the auction entertained customers at an elegant dinner followed by a performance by master illusionist Dennis Watkins. After the dinner and show on Monday evening, the auction held a 300-unit sale, following up on Tuesday with 2,500 cars and trucks at the auction’s biggest sale of the year.

Brasher’s gave away more than $50,000 in cash and prizes, including a classic 1965 Ford Mustang, and a trip for two to New York City.

“We look forward every year to our anniversary celebration,” said auction president John Brasher. “With this year’s lineup of entertainment and vehicle inventory, our 35th Anniversary was an event that our customers will remember for a long, long time.”

On Monday evening, March 18, the auction was transformed into a banquet room, complete with flowers, candlelight and a catered international menu.

After dinner, the auction’s guests then moved to Brasher’s own comedy club, Brasher’s LIVE!, where the auction recognized the newest members of its Silver Circle, dealers who have done business with the auction for 25 years or more. Later, guests were entertained by Dennis Watkins.

That was followed by a 300-vehicle sale, featuring Santander Consumer, Avis/Budget group and a group of new car dealers, including Swift of Davis, Wittmeier Group, Vacaville Dodge, Geweke Ford and Future Ford.

The next day, the auction rolled out the red carpet for the main event, issuing nearly 1,400 bidder badges and moving more than 2,500 vehicles across the auction block.

Staff Strips to Skivvies for Charity

Staffers from Manheim St. Louis ished the course in under an hour joined thousands of people to take and were happy to get out of their part in the Undy 5000, a family- “undies” into warmer clothing. friendly 5K run/walk benefiting the Colon Cancer Alliance.

We invite news items and top-quality photos from our readers to be considered for “Around The Undy 5000 is a unique race the Block.” Please include the name of a because participants are encouraged contact person and a telephone number. to run in boxers/undies to bring atSend items and photos to: Jeffrey Bellant tention to the area affected by coMail: Used Car News, 24114 Harper Ave., St. Clair Shores, MI 48080. lon cancer. The team arrived at the Fax: (586) 772-9400 event in windy and cold weather, e-mail: jeff@usedcarnews.com but that didn’t stop them. They fin-

UCN_23.indd 1

4/8/13 2:17 PM

ACTUAL WHOLESALE AND PROJECTED RESIDUAL VALUES APRIL 2013

SOURCE: BLACK BOOK

2010

2011 Domestic Cars Buick LaCrosse CX 4D Sedan Cadillac DTS 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 Base 4D Sedan Chrysler 200 Touring 4D Sedan Ford Mustang Base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln Town Car Signature Limited 4D Sedan Ford Focus SE 4D Sedan Import Cars Acura TL Base 4D Sedan BMW 3-Series 328i 4D Sedan BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata GLS 4D Sedan 2.4 Lexus ES 350 4D Luxury Sedan Mercedes-Benz E Class E350 4D Luxury Sedan Mitsubishi Galant ES 4D Sedan Nissan Altima Base 4D Sedan Nissan Altima S 4D Sedan Nissan Sentra Base 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan Trucks Cadillac Escalade Base 4D Utility AWD Cadillac SRX Luxury 4D Utility AWD Ford Edge SEL 4D Utility Chevrolet Colorado LT Crew Cab 4WD Z85 Chevrolet Equinox LS 4D Utility FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D Utility 4WD Ram Dakota Bighorn Ext Cab Dodge Grand Caravan Express Wagon Ford Escape XLT 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Flex SEL 4D Utility Jeep Grand Cherokee Laredo 4D Utility 4WD Jeep Wrangler Sahara 2D Utility 4WD BMW X3 XDrive28i 4D SAC

Apr-12 20000 26900 14300 14000 19900 14400 18200 20100 27300 12850 Apr-12 27400 28200 65700 15400 16800 29400 41500 12750 14300 15600 12850 15950 14500 16600 Apr-12 49400 32700 22000 20225 18525 19600 29800 15175 15750 17975 30325 20525 21275 23800 22775 33700

Oct-12 19400 27900 12400 12850 18950 13650 15800 19000 22900 11550 Oct-12 23900 25700 60600 14550 14200 28400 36800 11650 12400 13700 11600 14450 12000 15300 Oct-12 47300 31250 21575 18825 17450 19750 27425 15525 15275 16925 27825 19925 21350 24150 22725 32800

Apr-13 17000 24600 11350 11450 16600 11400 15100 16500 21900 10950 Apr-13 23000 23200 52300 14500 13750 26000 32000 10500 11800 13100 10600 14050 12100 15000 Apr-13 44050 27650 21375 18925 16450 19550 26875 15475 14600 16150 27100 19325 19975 24625 21575 31600

Projected Figures Apr-14 Apr-15 14400 12400 18450 15575 9425 8100 9750 8550 13850 11925 9700 8250 12925 11475 13750 11775 17225 14325 8925 7600 Apr-14 Apr-15 19075 16450 19575 16650 46025 39625 11850 10425 10700 8800 22425 19650 28175 22950 8700 7325 10125 8925 11175 9850 8525 7350 11925 10575 10125 8825 11750 10000 Apr-14 Apr-15 37400 31675 23775 20450 17225 14850 16925 14975 13050 10675 16400 14575 23150 20100 13250 11875 11575 9875 14100 11800 20225 16600 15575 13575 17075 14625 19050 15750 18625 16375 25175 21225

Domestic Cars Buick LaCrosse CX 4D Sedan Cadillac DTS 4D Sedan Chevrolet Cobalt LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 Touring 4D Sedan Chrysler Sebring Touring 4D Sedan Ford Mustang Base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln Town Car Signature Limited 4D Sedan Ford Focus SE 4D Sedan Import Cars Acura TL Base 4D Sedan BMW 3-Series 328i 4D Sedan BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata GLS 4D Sedan Lexus ES 350 4D Luxury Sedan Mercedes-Benz E Class E350 4D Luxury Sedan Mitsubishi Galant ES 4D Sedan Nissan Altima Base 4D Sedan Nissan Altima S 4D Sedan Nissan Sentra Base 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan Trucks Cadillac Escalade Base 4D Utility AWD Cadillac SRX Luxury 4D Utility AWD Ford Edge SEL 4D Utility Chevrolet Colorado LT Crew Cab 4WD Z85 Chevrolet Equinox LS 4D Utility FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D Utility 4WD Dodge Dakota Bighorn Ext Cab Dodge Grand Caravan SE Wagon Ford Escape XLT 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Flex SEL 4D Utility Jeep Grand Cherokee Laredo 4D Utility 4WD Jeep Wrangler Sahara 2D Utility 4WD BMW X3 XDrive30i 4D SAV

2009 Domestic Cars Buick LaCrosse CX 4D Sedan Cadillac DTS 4D Sedan Chevrolet Cobalt LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 Touring 4D Sedan Chrysler Sebring LX 4D Sedan Ford Mustang Base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln Town Car Signature Limited 4D Sedan Ford Focus SE 4D Sedan Import Cars Acura TL Base 4D Sedan BMW 3-Series 328i 4D Sedan BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata GLS 4D Sedan Lexus ES 350 4D Luxury Sedan Mercedes-Benz E Class E350 4D Luxury Sedan Mitsubishi Galant ES 4D Sedan Nissan Altima Base 4D Sedan Nissan Altima S 4D Sedan Nissan Sentra Base 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan Trucks Cadillac Escalade Base 4D Utility AWD Cadillac SRX 4D Utility AWD V6 Ford Edge SEL 4D Utility Chevrolet Colorado LT Crew Cab 4WD Z85 Chevrolet Equinox LS 4D Utility FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D Utility 4WD Dodge Dakota Bighorn Ext Cab Dodge Grand Caravan SE Wagon Ford Escape XLT 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Taurus X SEL 4D Utility FWD Jeep Grand Cherokee Laredo 4D Utility 4WD Jeep Wrangler Sahara 2D Utility 4WD BMW X3 XDrive30i 4D SAV

UCN_24.indd 1

Apr-12 10900 16400 8350 10300 13750 8300 12850 11900 19050 9800 Apr-12 21400 20200 52200 12500 9900 22200 26800 9450 11700 12500 10550 13150 10850 12750 Apr-12 35050 21450 16175 17675 11925 16000 23850 12025 11175 14250 15150 16050 13450 15700 19650 25350

Apr-12 17150 19600 10000 12200 14500 11100 15800 17400 23400 11200 Apr-12 24200 24200 60900 13900 11800 25600 36500 11350 12800 14100 11550 14500 12450 14500 Apr-12 43150 30500 18200 18525 15100 17575 25950 13575 13350 15650 18650 18275 19125 18700 21325 29100

Oct-12 16550 18600 9350 11550 14100 11400 13600 16400 19300 10150 Oct-12 21100 22000 54600 13100 10700 24600 32600 10550 11000 12300 10600 12850 10700 12750 Oct-12 41050 28050 18200 17425 14750 18375 24775 13450 13025 15150 17975 17975 19200 17575 21100 28300

Apr-13 14900 18100 8300 10150 13350 10200 13600 15000 17700 9450 Apr-13 20600 20000 44900 13000 9900 22600 28000 9200 10700 12000 9850 12550 10700 13200 Apr-13 39550 24950 18000 17025 14200 18125 23450 13225 11525 14825 18125 17000 17600 16725 20100 26800

Projected Figures Apr-14 Apr-15 12275 10350 14625 12400 6650 5750 8375 7275 11425 9800 7425 5950 10950 9550 11825 9975 14225 11600 7625 6400 Apr-14 Apr-15 16600 13825 17175 14450 39600 33925 10450 9025 8200 6775 19100 16150 23050 18450 7450 6200 9025 7725 9975 8525 7650 6450 10425 9125 8625 7500 10375 8775 Apr-14 Apr-15 32300 26675 20775 17225 14775 12575 15050 13250 10800 8675 14750 12900 19900 16950 11075 9775 9500 7900 11800 9750 14200 11600 13550 11750 14775 12550 14925 12475 16650 14500 21750 18200

Oct-12 9050 14000 6250 8400 11950 7000 10550 9100 15150 7100 Oct-12 15100 16600 28800 10550 7500 18100 19600 7800 9200 9900 8800 10250 8500 10650 Oct-12 29950 17300 14000 14800 9800 13525 19525 10375 8700 11125 12825 13025 9950 12500 17050 19650

Apr-13 8500 12800 5650 8200 10750 5900 9700 7300 12300 6750 Apr-13 14400 14800 24600 10250 7200 16800 17800 6750 8050 8750 7150 10050 7750 9750 Apr-13 28550 14800 13125 14100 8800 13425 18975 9300 7625 10750 11775 12250 8700 11725 16800 17800

Projected Figures Apr-14 Apr-15 6825 5900 9825 8300 4525 3900 6050 4925 9300 7650 4175 3275 7925 6750 6300 5275 9450 7825 5000 3900 Apr-14 Apr-15 11125 9125 11950 9850 18475 14650 7800 6525 5275 4250 13675 11575 13825 10825 5100 4100 6300 5275 6975 5875 5325 4325 7825 6650 6200 5300 7325 5925 Apr-14 Apr-15 20375 16300 12550 10400 10250 8575 11425 9650 6625 5225 10625 9100 14125 11475 8200 7125 6950 5675 8000 6175 9250 7075 9850 8350 7600 6175 9900 8025 12925 10975 14700 12175

2008 Oct-12 11300 16500 7300 9750 13250 8550 12100 11100 16700 8900 Oct-12 18900 18650 46800 11800 8900 21200 24500 9050 10450 11250 9800 11450 9550 11450 Oct-12 35550 19700 16475 16600 11825 15800 22925 11900 10575 13475 14675 15450 12075 15350 18900 23400

Apr-13 10200 15200 6700 9100 12050 7450 11150 9300 14800 7900 Apr-13 18800 17200 37700 11600 8450 19600 21600 7700 9550 10350 8200 11250 9300 11350 Apr-13 35250 17150 15500 15775 11275 15925 22500 11600 9525 12725 14750 15350 11275 14950 18400 21550

Projected Figures Apr-14 Apr-15 8400 7225 12650 10550 5525 4775 7275 6275 10900 9250 5475 4350 9175 7925 7950 6750 11625 9600 6250 5150 Apr-14 Apr-15 14200 11775 14425 12000 33175 27300 9100 7800 6775 5525 16050 13750 18250 14425 6200 5000 7750 6600 8750 7475 6475 5425 9100 7850 7425 6350 8775 7225 Apr-14 Apr-15 27100 21825 15500 12800 12575 10625 13400 11500 8825 6975 12925 11250 17350 14375 9650 8475 8375 7100 10125 8150 11500 9375 11925 10250 9675 8000 12700 10450 14775 12875 17775 14800

Domestic Cars Buick LaCrosse CX 4D Sedan Cadillac DTS 4D Sedan Chevrolet Cobalt LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 Touring 4D Sedan Chrysler Sebring LX 4D Sedan Ford Mustang Base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln Town Car Signature Limited 4D Sedan Ford Focus SE 4D Sedan Import Cars Acura TL Base 4D Sedan BMW 3-Series 328i 4D Sedan BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata GLS 4D Sedan Lexus ES 350 4D Sedan Mercedes-Benz E Class E350 4D Sedan Mitsubishi Galant ES 4D Sedan Nissan Altima Base 4D Sedan Nissan Altima S 4D Sedan Nissan Sentra Base 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan Trucks Cadillac Escalade Base 4D Utility AWD Cadillac SRX 4D Utility AWD V6 Ford Edge SEL 4D Utility Chevrolet Colorado LT Crew Cab 4WD Z85 Chevrolet Equinox LS 4D Utility FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D Utility 4WD Dodge Dakota SLT Ext Cab Dodge Grand Caravan SE Wagon Ford Escape XLT 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Taurus X SEL 4D Utility FWD Jeep Grand Cherokee Laredo 4D Utility 4WD Jeep Wrangler Sahara 2D Utility 4WD BMW X3 4D SAV 3.0si

Apr-12 9500 14700 7200 8800 12400 7150 11150 9900 17500 8400 Apr-12 16500 17800 30800 11200 8500 19000 22000 7950 10500 11200 9450 11900 9450 11450 Apr-12 31300 18950 14900 15825 10375 14250 21575 10475 9100 11950 12775 13650 11075 13325 17850 21050

4/5/13 12:09 PM

April 15, 2013 t 25

USED CAR NEWS

Disconnected Jottings From Tony Moorby...

I participated in a Webinar this week that looked at the Affordable Health Care Act and its effects on large and small businesses. After an hour of listening to highly intelligent people who knew the subject exquisitely well

care system going forward, thus giving access to everyone. Itâ&#x20AC;&#x2122;s no such thing. That would be Nirvana, but absolutely unattainable.

Inviting 25 million currently uninsured people into a system that already costs

Tony Moorby

Ć&#x20AC;É&#x; Ĺ´Ĺ°Ć?3 ,É&#x;0 . , (É&#x;) É&#x;." É&#x;#( /-.,3 Ć&#x20AC;É&#x; , -# (.É&#x; ,)'É&#x;ŹŚŚšĆ&#x2018;ŲŰŰŰÉ&#x;) É&#x; É&#x;É&#x; É&#x; /.)').#0 Ć&#x20AC;É&#x; ,0 É&#x; -É&#x; Ć&#x2030;-É&#x; 2 /.#0 É&#x;0# É&#x;É&#x; É&#x; *, -# (.É&#x;) É&#x;- & -É&#x; ( É&#x;' ,% .#(! Ć&#x20AC;É&#x; )), 3É&#x;Ć É&#x; --) # . -É&#x;ŲŰŰŜĆ&#x2018;*, - (. Ć&#x20AC;É&#x; 1 , É&#x;." É&#x; #(!É&#x;) É&#x; )(),É&#x; 3É&#x;É&#x; É&#x; Ć&#x20AC;É&#x; É&#x; &&É&#x;) É&#x; ' ,

(still with some â&#x20AC;&#x153;interpretationsâ&#x20AC;? yet to make), I am no better off. It was the audible equivalent of trying to put a plate of spaghetti into a single strand. Ideas and concepts slipped around with no possibility of putting them together.

Letâ&#x20AC;&#x2122;s understand one thing from the get-go; calling this the â&#x20AC;&#x153;Affordable Health Care Actâ&#x20AC;? is a typical government attempt to dupe the American public into thinking that this is an acceptable, wellreasoned attempt at containing costs in the health

an arm and a leg is going to be financially burdensome, indeed. But thatâ&#x20AC;&#x2122;s just the tip of the iceberg; the (government) oversight, administration and audit capabilities will now embrace at least three government agencies. The IRS will make sure youâ&#x20AC;&#x2122;re keeping records correctly and will make sure youâ&#x20AC;&#x2122;re interpreting the rules properly. The Health and Human Services department will control the programs, both employer and state-sponsored. The Labor Department will also have

their hand in.

You will never see those â&#x20AC;&#x2DC;hiddenâ&#x20AC;&#x2122; costs iterated as part of the provision of services; Iâ&#x20AC;&#x2122;m willing to bet.

Theyâ&#x20AC;&#x2122;ll be buried in the crypts of Washington administrators for years to come. I think itâ&#x20AC;&#x2122;s President Obama who refers to â&#x20AC;&#x2DC;kicking the can down the roadâ&#x20AC;&#x2122; â&#x20AC;&#x201C; heâ&#x20AC;&#x2122;ll be long gone before the Office of Management and Budget stumble across the bills bulging in the basement and our kids are paying off the credit card! Itâ&#x20AC;&#x2122;s socialism wearing the cloak of democracy. Democracy isnâ&#x20AC;&#x2122;t based on Robin Hoodlike stealing from the rich to give to the poor; thatâ&#x20AC;&#x2122;s socialism. Democracy is free and equal representation of the people. Thatâ&#x20AC;&#x2122;s providing you cast votes with all the information you need to make an informed decision. It sounds great to say everyone gets healthcare, so long as we realize that we will carry the tax burdens of European countries. In Holland, for instance, almost 60 percent of wages go to provide the Nanny State. Itâ&#x20AC;&#x2122;s similar in Sweden and Denmark. I believe this system stunts a

C R O S S WO R D

work ethic and creativity.

Interpretations and old definitions of the way we measure companies will change to suit the tax gatherers. For instance, if you run a dealership with 42 employees you are a â&#x20AC;&#x153;small employerâ&#x20AC;? and thus exempt from some (notice I said â&#x20AC;&#x2DC;someâ&#x20AC;&#x2122;) of the new requirements and provisions â&#x20AC;&#x201C; BUT â&#x20AC;&#x201C; if your wife runs a small catering company with 9 employees and you happen to share some ownership, then the combination of the two businesses is treated as one and you become a â&#x20AC;&#x153;large employerâ&#x20AC;? with all the burdens of GE or GM. Except they will be able to afford HR specialists and lawyers to ensure compliance and so on. You, on the other hand, will have to engage expensive tax consultants and labor lawyers and bear the cost before you open the doors in the morning.

You will unlikely be aware of the â&#x20AC;&#x2DC;distribution of medical loss ratiosâ&#x20AC;&#x2122; back to your employees after you do an audit of insurance payments and costs. Full time employees are those that will have worked more than 30 hours a week (actually itâ&#x20AC;&#x2122;s 130 per month) on a regular basis, not 40. I predict that weâ&#x20AC;&#x2122;ll become a nation of 29ers.

If I tried to regurgitate all I heard on the webinar â&#x20AC;&#x201C; and I couldnâ&#x20AC;&#x2122;t â&#x20AC;&#x201C; I would bore you silly and youâ&#x20AC;&#x2122;d understand no more than me, which isnâ&#x20AC;&#x2122;t much. However I suggest you research such terms as insurance exchanges, Medicare surtaxes, flex plans on medical deductibility, taxes on medical devices, taxes embedded in prescription drug charges, minimum essential coverage - enough already but I assure you thereâ&#x20AC;&#x2122;s a lot more. Itâ&#x20AC;&#x2122;s so complicated that many innocent mistakes will be made.

To see past columns from Tony Moorby, log on to www.usedcarnews.com/

Sponsored by INSURANCE AUTO AUCTIONS

By Miles Mellor

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VW model LaCrosse maker Purchase UK company producing racing cars 10. Improvements 11. Legend maker 12. White ____ driver, slang term for people who drive hard and fast 16. ___ player 19. Paseo or Starlet 22. Exaggerated sales talk 24. Piece of history 26. ___ hurry (2 words) 28. Old, for short

29. Good motto for a used car company perhaps (goes with 43 across) 30. Military term: right arm, abbr.

32. Toyota economy car 33. Isuzu model 36. Ambassador makers 38. Mercury sedan 43. Goes with 29 across 45. ____ Mans 47. Receipt word 48. Fuel efficient microcar 49. Convince 50. Have a meal

1. Car with a cat on the hood 2. Periodic auto adjustment (2 words) 3. Good-looking 4. Popular car color 5. Amigo makers 6. Back seat passenger 7. Sometimes you have to charge it 8. Uh-huh 13. Recent 14. Accountant 15. ____ efficient 17. Itâ&#x20AC;&#x2122;s a ___ deal!

18. Live 20. Toyota hybrid car 21. Chevy truck model 23. Add liquid 24. 50â&#x20AC;&#x2122;s Ford flop 25. Greetings from Hawaii 27. Good looking guy 31. Hyundai subcompact 34. Goes with wester 35. A higher salary 37. Mississippi, for short 39. Loan percentage rate

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40. Superhero auto, ____mobile 41. Roman 51 42. Mr. ___ (horse) 43. ___-owned vehicle 44. You can get it in a Jiffy 45. Lexus __ 46. Texas holdâ&#x20AC;&#x2122;__

F A C T O R Y A C C O R D S

O C O L U A N P T A A C H M D H A T S U O N

U S A N K E S A K S S E M M B L K Y

A M G I U T T E L A E R L A N L K A R R I R A A A S P E N C T V E O A K T R I M A E R S A L S A C T I V S K I S I T I T A T A S

R O U N T L V A N D F E R

A D E R A L L S

E L E L X U Z D A S O E D G E G O T L E A

Answers to this puzzle in the 5/6/13 issue. Call 1.800.794.0760 for a FREE subscription.

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ÛÛÝÛÛÛApril 15, 2013

USED CAR NEWS

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Deadline Wed., July 3

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TO ADVERTISE PLEASE CALL 1-800-794-0760 EXT. 107

4/5/13 2:03 PM

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Jim Arrigo Owner President, Arrigo Automotive Group

Jim’s story ... “ WE INCENTIVIZE PEOPLE IN OUR STORES TO DO THINGS BIGGER, BETTER AND FASTER BY USING THE TOOLS WE GIVE THEM. THAT’S WHY WE’RE SUCCESSFUL.”

At Ally, we put nearly a century of automotive experience into creating industry-leading products designed to help our dealers succeed. That includes innovative tools like SmartAuction®. With over 4 million vehicles sold, an incredibly robust search capability and the power to buy and sell from virtually anywhere, it’s all the incentive you’ll need to manage your inventory quicker, easier and more conveniently. For more information, visit smartauction.biz or call 1-877-273-5572. ©2013 Ally Financial. All rights reserved. SmartAuction is a registered service mark of Ally Financial Inc.

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