July 21, 2014
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Manheim found in a recent study that the presence of a physical title at the time of sale can potentially double vehicle conversion rates. The research also revealed that vehicles with same-day titles contribute to slightly higher online sales via Simulcast and OVE.com.
Car Prices Low in East
CarGurus’ Regional Used Car Price Study finds that the most affordable cities to buy a car are Miami, Cleveland, New York City, and Stamford, Conn. The most expensive cities for used car shopping trended westward, including Fresno, Calif., Seattle, and El Paso, Texas.
Regulations Top Taxes As Business Concern
The friendliness of professional licensing requirements was the most important regulatory issue in determining a state’s overall friendliness to small businesses, according to a recent study by staffing service Thumbtack.
Rush - Dated Material
Photo by The Associated Press WINDFALL: Nicole Goggles smiles after putting down a deposit on a car in Lander, Wyo. Members of the Northern Arapaho tribe began receiving checks for $6,300 from a $157 million federal settlement stemming from a 1970’s lawsuit concerning mineral rights on the Wind River Indian Reservation. By Jenny King
First it was October, then November, and then maybe December. Members of the Northern Arapaho and Eastern Shoshone tribes were expecting thousands of dollars from the federal government from a land trust settlement
dating from 2010. But the timing was uncertain. And that made it tricky for businesses like Fremont Buick Chevrolet GMC in Riverton, Wyo., to plan their inventories. No point in over-stocking the lot, but no one wanted to run short once the money and customers arrived.
Finally on April 23 registered members of the Arapaho tribe each received $6,300. Days later, qualifying Shoshone tribe members got $13,000 apiece, according to Kort Kinney, general sales manager at Fremont Chevrolet Buick GMC. Then, in spite of some
days with hard rain, came the shopping. The Fremont dealership was ready – or as ready as it could be. Kinney said he was somewhat surprised that used cars outsold new ones. “We had 60 to 70 additional used cars, many of Continued on page 15
Wholesale Prices Soften, But Remain Higher Than Last Year Wholesale prices in June fell more than usual for the sea- were up 0.6 percent month-over-month, though down 0.1 son, although they remain significantly above year-ago lev- percent year-over-year, reflecting volume pressure. els. Prices for fleet-lease consignors were down 3.9 percent According to ADESA Analytical Services’ monthly anal- sequentially and up 2.5 percent annually. ysis of Wholesale Used Vehicle Prices by Vehicle Model Dealer consignors saw a 2.3 percent average price deClass, wholesale used vehicle prices in June averaged crease versus May, and a 3.4 percent uptick versus June $10,004 - down 3.1 percent compared to May, and up 4.7 2013. percent relative to June 2013. The Manheim Used Vehicle Value Index Wholesale fell Prices declined on a month-over-month basis across vir- 0.6 percent in June after declining 0.2 percent in May. tually all model classes, with midsize SUVs being the hardOn a quarterly average basis, the second quarter was still est hit. 1 percent higher than the first quarter. And, on a year-overT:7.175” Prices for used vehicles remarketed by manufacturers year basis, the June Manheim Index was up 3.6 percent.
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July 21, 2014ÛÛÝÛÛ
USED CAR NEWS
NIADA Honors Dealers, Industry Allies with Top Awards By Jeffrey Bellant
LAS VEGAS – Two longtime dealers and two allies of the used-car industry received awards from the National Independent Automobile Dealers Association at its annual convention. Charles Teel and Bob Lawrence received the Michael R. Linn NIADA Lifetime Achievement award, which was introduced last year in honor of Linn, who stepped down from his post as NIADA’s chief executive officer in 2013. The NIADA also inducted two new members to its Ring of Honor, an award given annually to an allied industry executive who, through outstanding performance and leadership, has contributed to the professionalism and growth of the automobile industry. Frank Hackett, executive director of the National Auto Auction Association, and Mike Stanton, vice president and chief operating officer of NADA Used Car Guide, became the 24th and 25th members of that elite group.
NIADA Chairman Keith Hagler and Linn presented the lifetime achievement awards to Teel and Lawrence. Hagler read a statement from Linn about the honorees. After Linn had received the inaugural award, he immediately thought of two people who had paved the way for Linn and the NIADA to achieve the association’s goals. “These two individuals are responsible for the success and financial stability which the association enjoys today,” Linn stated. Lawrence, of Salisbury, Md., started out as a new-car dealer, becoming the youngest Volkswagen dealer in the country at age 29. In 1967, he was the Maryland and NIADA Dealer of the Year. In 1975, he was Time Magazine’s Northeast Dealer of the Year. He was National Quality Dealer of the Year in 1987. He later moved into the used-car business and got involved in the Maryland IADA, where he served as president seven times. Law-
Photo by Jeffrey Bellant LIFETIME ACHIEVEMENT: Charles Teel (left) and Bob Lawrence celebrate after each received the Michael R. Linn NIADA Lifetime Achievement Award during the NIADA’s annual convention in Las Vegas
rence also served as NIADA president and served on numerous boards. Teel, of Savannah, Ga., has been in the auto industry since 1966. He also helped establish a regional bank in 1984 and was secretary on its board before selling it. Teel joined the Georgia IADA in 1991 and has been active with the state and national associations.
Teel has served president of the Georgia IADA twice and was chairman of the NIADA’s State Presidents Council. In addition, he was NIADA treasurer for several years. Teel was NIADA president in 2009 and has served as the chairman of the succession planning committee. NIADA Executive Director Steve Jordan presented
the Ring of Honor award to Hackett and Stanton. Hackett served as a county sheriff in Maine for a decade, and won several weightlifting titles. He worked for Volunteers for America and later became executive director and chief executive officer of NAAA. Continued on page 15
7/11/14 4:12 PM
Â Ă›Ă›Ă?Ă›Ă›July 21, 2014
USED CAR NEWS
NEWS BRIEFS CarMax Opens Another Texas Store
ers and strategic sourcing and pro- has partnered with FICO to be the track their FICO Scores. These CarMax Inc. has officially opened curement professionals nationwide. first captive auto finance company tools will include the top two factors to provide free FICO Scores to cus- currently affecting the customersâ€™ its second store in Ft. Worth, Texas. tomers as part of the FICO Score individual FICO Scores, as well as This is CarMaxâ€™s sixteenth Open Access program. provide educational content to help store in Texas. The store is more More States Join Database HCA will offer free FICO Scores customers understand their credit The Department of Justiceâ€™s Ofthan 20,000 square feet, occuto new customers enrolling in the score.. fice of Justice Programsâ€™ announced pies more than 11 acres, employs nearly 70 associates and stocks ap- a milestone for the National Motor new 2014 College Grad Programs. Customers participating in these ADESA Launches LiveBlock App proximately 250 used vehicles. Vehicle Title Information System. Illinois, Michigan, and Texas are programs will start receiving their ADESA announced the launch of joining 41 states in submitting title FICO Scores from HMF and KMF its LiveBlock mobile app, available and brand data to the system, which on a quarterly basis, beginning this free for iPhone users. FLD Updates Website Registered auto dealers can now FLD Inc. has launched a new ver- now includes 96 percent of the U.S. fall. In addition to receiving their FICO vehicle population. Overseen by participate in live vehicle auctions at sion of its website, www.fldinc.com Scores, HMF and KMF customOJPâ€™s Bureau of Justice Assistance, ADESA locations across the country aimed at promoting user engagement with enhanced functionality NMVTIS provides vehicle history ers also will be given on-line access from their smartphone. information to prospective used car through the respective websites to The LiveBlock mobile app is very and design. tools to help them understand and buyers, protecting them from consimilar to LiveBlock on ADESA.com. The new website will further ascealed vehicle histories. sist FLD customers in all aspects of A NMVTIS Vehicle History Report remarketing and inventory managePublished By General Media LLC ment to ultimately help them deter- provides information to consumers USED CAR NEWS (ISSN 1555-7413) is published at mine the most cost-efficient strategy that can potentially warn them of 24114 Harper, St. Clair Shores, MI 48080 for their business. In addition, site a vehicleâ€™s prior condition, such as visitors will have access to a depre- â€œsalvageâ€? or â€œfloodâ€? indicating that Phone: 586-772-5200 or 800-794-0760 Fax: 586-772-9400 ciation calculator, relevant industry it may be unsafe. www.usedcarnews.com news and informational videos. Revamping the website is one of Captives Provide Credit Scores Hyundai Capital America, which Charles M. Thomas several recent initiatives FLD has Founder (1947-2002) taken this year to ensure enhanced does business as Hyundai Motor productivity and customer engage- Finance and Kia Motors Finance, Lynda R. Thomas, Publisher ment through advanced technology. Colleen Fitzgerald, General Manager In January, FLD released the latest C R O S S WO R D by Myles Mellor version of OnceOVR, an electronic Editorial: condition reporting smartphone Ted Craig, Managing Editor PAGE 21 app. This app includes specialized Jeffrey Bellant, Staff Writer inventory management and fleet audit functionality aimed at alleviatContributing Writers: ing the issues faced by fleet managEd Fitzgerald, Jenny King, Sheila McGrath Columnist: Tony Moorby Advertising: Shannon Colby, Account Manager Megan Frump, Account Manager Marie Hingst, Account Manager Circulation: Helen Thomas Production: Josie Godlewski, Media Manager Tim Montie, Graphic Designer â€”â€”â€”
67 Years Canâ€™t Be Wrong.
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. É&#x; É&#x; É&#x; 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.
7/14/14 3:19 PM
July 21, 2014 ÝÛÛ
USED CAR NEWS
State Executive: ‘Take Charge of Your Destinies’ LAS VEGAS – Georgia’s Paul John received the Association Executive of the Year award during the National Independent Automobile Dealers Association’s annual convention here in June. But in his acceptance speech, the executive director of the Georgia IADA gave a stirring challenge to his fellow directors to lead their associations in helping their dealers succeed. Bruce Eklund, chairman of the NIADA Association Executives Council, presented the award and cited John’s success in building the association. “When he started (dealer training) in 2002, Georgia had 1,200 members,” Eklund said. “Today, it has almost 2,400 members. It’s NIADA’s largest affiliate state association.” John urged industry leaders to grow membership in the NIADA. He said believing in your ability to succeed and a desire for success are just as vital as other factors. “You may be smart, educat-
ed, have a lot of professional savvy and experience,” John said, “but if your heart isn’t in this business we’re in – and you don’t have the burning desire to help car dealers succeed – then I’m sorry, you don’t have the ‘it’ factor. “And without the ‘it,’ you’re not going to win and you’ll most likely have to change careers.” John also challenged his fellow state directors to stop pointing fingers at the NIADA for difficulties faced by the state associations. “We cannot put blame on anybody, especially NIADA, for our inability to turn a state association into the healthy business that it should be and truly needs to be in order to help dealers,” he said. Executive directors of the state associations are the CEOs of their groups, John said. “CEOs, the last time I checked, are responsible for the failure or success of their companies,” he said. “If anybody’s going to be doing any finger-pointing, it’s got to be back (to the director).
Photo by Jeffrey Bellant CLARION CALL: Paul John, executive director of the Georgia IADA, won the NIADA’s 2014 Association Executive of the Year award and gave a rousing acceptance speech directed at his fellow executives.
“So take charge of your destinies, fellow directors, and take charge of your associations.” John thanked the AEC members who voted for him, and gave special thanks to Georgia IADA staff member Amy Bennett and association members Dennis Pope, Kimberly New, Glen Reeves and Roy Daniel.
The four members have won multiple Crystal Eagle awards for those who recruit at least 100 new members in a 24-month period. “They’re responsible for almost 25 percent of our membership,” John said. John began his career in the automotive industry working at a Chevrolet dealership in 1977, Eklund
said. In 1992, John moved to Atlanta to start a company providing customized window marketing for dealers. He later sold the company. In 1998, he became the fifth employee of a new start-up called AutoTrader. com. Late, John was hired by Georgia IADA to grow membership along with education training.
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USED CAR NEWS
Trucks, CUVS Set to Gain Share
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DETROIT – While the market share shifts of the recent past are likely to remain largely unchanged, the automakers with the greater number of product launches between 2015 and 2018 will have an edge in the competition, according to a recent study by Bank of America/Merrill Lynch. “Car Wars 2015-2018” suggests light trucks and crossover vehicles will increase their shares of the market as mid-size and large cars, small cars and luxury/sporty vehicles yield some percentage points. The report says their rates of introductions are overweight. “We’re in a stable market,” BoA Merrill Lynch research analyst John Murphy told the Automotive Press Association here in early June. “The industry is in great shape going forward,” Murphy said. “In the next four years we’ll see great new models.” BoA Merrill Lynch is predicting sales of 18 million new vehicles in the U.S. in calendar year 2018 based on current annual miles driven. General Motors’ product replacement rate will be good for the next two years -- especially if its new and re-styled smaller crossover vehicles are able to attract buyers looking for efficiency while shying away from vehicles perceived as “small.” As it moves toward a goal of building on only nine platforms worldwide by 2016, Ford understands the importance of (fast) replacement rate and competitive pricing, Murphy said. The study predicts this strategy should drive higher market share and sustained pricing. While Ford’s lighter-weight 2015 F-150 will shake things up in the pickup segment, the market will decide if the loss of 700 pounds and a better powertrain will affect its towing and work capacities, he said. “Chrysler-Fiat still has a lot of work to do,” Murphy said. “We don’t see FCA pricing becoming
aggressive (enough).” The automaker’s goal of gaining market share is “pie in the sky,” he added. VW launches are “perplexing”; Toyota is likely to be weakened for the next two years because of its product replacement rate, though its concentration on Lexus should help. Look for Hyundai and Kia to increase introductions in the wake of a two-year lull that followed a wave of new and renewed products. Honda’s strength is in consistently turning product and is likely to gain share. Murphy said the new compact HR-V 2015 crossover from Honda “could revive the small car market.” Nissan “seems to be a ship without a rudder and is at significant risk of losing market share,” the study shows. The BoA/Merrill Lynch report says GM product launches for the next three model years should support its market share and pricing; there is both risk and opportunity for GM in model year 2018, it states. Earlier this spring GM announced it will invest $449 million in operations including the Detroit-Hamtramck assembly plant and Brownstown engine facility. Hamtramck is the site of Volt production; lithium-ion batteries are built in Brownstown. GM described the move as further preparation for the next generation of electric vehicles and advanced battery technologies. In addition to the Volt, Hamtramck presently builds the electric-powered Opel Ampera and Cadillac ELR. The Detroit-area plant also builds Chevrolet Malibu and Impala sedans. GM said two products are scheduled to be added to the Hamtramck line. Model replacement rates and showroom age are what drive market share shifts, Murphy said. Newest and freshest are best.
7/14/14 1:58 PM
July 21, 2014ÛÛÝÛÛ
USED CAR NEWS
Credit Feels Regulatory Stress By Ted Craig
The biggest challenges for subprime finance in the past have been internal in the form of loose underwriting. But now the industry faces a new pressure - regulatory scrutiny. Ally Financial has paid $80 million to settle disparate impact claims from the Consumer Financial Protection Bureau. Tom And Consumer Hudson Portfolio Services has paid $5.5 million to the Federal Trade Commission for illegal marketing practices. The threat for creditors comes not just from federal regulators, however, but also states using new federal laws. The New York Department of Financial Services filed suit in April against Condor Capital Corp. The NYDFS claims Condor misled customers about refunds they may have been entitled to, failed to pay refunds owed toJuly21-HOGROAST.pdf customers, and Carolina_UCN did not have adequate protections in place to safeguard their personal
and financial information. What was different about this suit is the New York regulator used the standard set out in the Dodd-Frank Act of unfair, deceptive or abusive acts or practices. “Before the Dodd Frank Act, a state regulator would usually base a claim like this one on the state’s unfair and deceptive acts and practices law, or would ask the state attorney general to sue,” said attorney Tom Hudson. “I predict we’ll see more of these.” Greg Goebel, CEO of Used Car University, has predicted the subprime industry will see a shake out in the next year due to poor underwriting. He now wonders about the effect of poor compliance. “Condor was one that I didn’t have my eye on, and its problems were operational/regulatory rather than poor underwriting,” Goebel said. He said CPS’ situation is more concerning potentially, not because of the large fine by the FTC, but because of the forbearance of collections on 35,000 accounts. “It could mean very little, or it could have a monstrous effect,” Goebel said. “If it is the latter, they could be the first domino. I don’t that to11:57 happen, and I like the 1want 7/11/14 AM people at CPS, so my fingers are crossed.”
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7/14/14 1:15 PM
PAGE 8 - AUCTION TECHNOLOGY FOCUS
Buyers Shop Online Even When at Physical Auctions (This is the second part of an interview with Insurance Auto Auctions CEO John Kett.) UCN: W h a t is your mobile strategy? Kett: We were the first John in the indusKett try with a mobile app on both the buyer and seller side. We operate on both the Apple and Android platform for smartphones and tablets. We continue to enhance it. In many foreign markets, broadband penetration isn’t really that significant. They work on their phones. So providing a robust mobile solution is really important to our international buyers. I was just at an auction
ÛÛÝJuly 21, 2014
in northern California and even the buyers coming to the live auctions are using their mobile devices to either bid at the sale they are at or to bid at a sale in another market. We’re rolling out the availability to finance purchases online with an Automotive Finance Corp. floor plan. We’re really driving our technology for mobility. We’re always working on improving our imaging. We have some new technology that’s coming out later this year that will make the viewing experience even better for the mobile or Internet buyer. Sellers haven’t been as fast to embrace mobile. We have rolled out our market value app. It’s a way to quickly get a salvage value on a vehicle. An insurance adjuster trying to determine whether a vehicle is a total loss can use it to make that determination.
UCN: What surprises you in regard to how your customers have adapted to technology? Kett: I’m not surprised at the rate that buyers have adapted to new technology. On the seller side, I’ve been surprised they haven’t adapted faster. But I think some of that involves security issues or they have already invested heavily in other technology.
UCN: What’s next for technology? Kett: Internal efficiency is the next big thing. We’re investing in technology to obtain a lot more information about a vehicle when it first comes in. Our buyers are telling us that’s what they want. They want a richer data set to make their bidding decisions.
More information is going to lead to more bids because we’re taking some of the risk out of the equation for them. UCN: You still run live auctions while your biggest competitor (Copart) went online only. What is the logic behind that? Kett: Our data shows us, and our customers tell us, this is the preferred method to sell vehicles. We’re offering the vehicles to as wide a population as possible. Every total loss vehicle is different. So there is a segment of buyers that really want to touch and look at that vehicle very closely before they decide if they want to bid on it. They can look at pictures on the Internet, but they
want to actually see it. About 40 percent of the vehicles we run operate. We drive those cars past the buyers like at a traditional auto auction. The buyers want to hear that engine. They want to see the vehicle operate. The Internet buyers like the fact that we have a live auction. It gives credibility to the process. They’re seeing on the screen that there are live bids coming in and that gives them confidence to bid when they’re sitting halfway around the world. We feel we’re getting the highest recoveries for our sellers because we’re offing the vehicles to as many buyers as we can. The results we get are more than worth the investment in the physical sales.
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~ÛÝÛÛJuly 21, 2014
USED CAR NEWS
Study: Market via Smartphone
Experian Marketing Services published a new report on the demographics, behaviors and attitudes of Millennial adults ages 18 to 34. According to the report, Millennials are the most digitally connected generation, with 77 percent of adult Millennials owning a smartphone and the average owner spending about 14.5 hours a week using his or her phone. In fact, Millennials spend so much time on their smartphones that they account for 41 per-
cent of the total time that Americans spend using smartphones, despite making up just 29 percent of the population. Fifty percent of Millennial smartphone owners say that they access the Internet more often through their phone than through a computer. Also, Millennials spend the most time using media compared with other generations, at approximately 9.5 hours a day, or 67 hours a week.
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USED CAR NEWS
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Suzuki Dealer Admits Fraud The owner and general manager of what was the nationâ€™s top-selling Suzuki store have pled guilty to engaging in illegal practices. Pa u l M i c h a e l G i b s o n , o f Spartanburg, S.C., and Billy John Mills, Jr., of Huntersville, N.C., have pled guilty as charged to a three count federal wire fraud indictment. Gibson and Mills join seven others who have entered pleas of guilty for their roles in the operation of Suzuki dealerships operating in Spartanburg and Gaffney, S.C., under the name of Joe Gibson Suzuki. The U.S. Attorney for South Carolina said during the case that
Joe Gibson Suzuki, at one point one of the most productive Suzuki dealerships in the country, was an organization riddled with illegal practices. These practices included false advertising, false statements to induce banks to finance uncreditworthy purchasers, and false reporting of sales to cause bonuses to be paid by Suzuki of North America. Gibson was the owner of the dealership and Mills ran the day-to-day operations of the business. The U.S. Attorney stated that many aspects of this case were novel and that he was unaware of other criminal prosecutions of car dealers for misleading advertisements as in this case.
Site Takes Bitcoin Payments Online car-buying platform Beepi has integrated with BitPay, a bitcoin payment processing service, to allow its users to purchase cars with bitcoin. In addition, the company will also offer prospective buyers pre-approval for loans at check-out. Bitcoin is a software-based payment system. Once a customer selects â€œcheckoutâ€? on the Beepi site, they will then be prompted to click â€œpayment optionsâ€? and can select the bitcoin
icon to purchase the car with bitcoin. Through Beepiâ€™s partnership with BitPay, the buyer can complete their purchase using bitcoin while the seller still receives cash. Beepi is offering a $1,000 rebate to the first three Beepi buyers who purchase a vehicle using bitcoin with a value over $10,000. Beepi will also now offer customers pre-approval for loans and financing from one of its financing partners at check-out.
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Settlement - from page 1 which we got through our other dealerships,â€? Kinney said. â€œWe did our best to prepare for it.â€? Kinney said local businesses had been anticipating a spending surge, but the delays were like the boy who cried wolf, and frustrated, some grew gun-shy when it came to building inventories. Kinney said the dealership was able to put some used car shoppers into new cars. Fremont Buick started staying open until 10 p.m. most nights and even did business on Sundays. The sales staff was exhausted. The Wind River Reservation, home to some 23,000 Arapaho and Shoshone, borders Riverton in west central Wyoming, said Tina Pugh at independent dealership Alexâ€™s Auto Repair. Riverton itself has a population of about 10,000. â€œWe stocked a few extra cars beforehand,â€? Pugh said. â€œWe typically have 40 for sale, between $2,795 and $11,500. We were sold out in two days.â€? Pugh estimated 600 to 900 cars sold in Riverton as a result of the payments, which, she said, totaled $157 million in Fremont County. â€œPeople were buying cars and houses and mobile homes,â€? she said. Rumor had it that the local Walmart recorded record sales - perhaps
even on a national scale. Things have slowed considerably since the end of April. That might have put some in a post holiday funk. But those who spent wisely, or invested, did themselves and their community a favor, said Anne Alexander, an associate dean and director of international programs at the University of Wyoming in Laramie. â€œThe tribesâ€™ business councils brought in (financial) counselors to help those receiving money,â€? Alexander said. â€œIt was a very smart thing to do.â€? Those who saved or invested in home improvements or better cars had the effect of adding financial stability to the community, she said. Buying clothes or going on a shopping spree for everyday or impulse â€œmust-haveâ€? items can distort the economy of a region, she suggested. For example, a retailer might staff up for a short time and then have to let people go, as happens after the Christmas season. Fremont is among the Wyoming counties with the highest unemployment rate. Alexander said a lack of public transportation and the great distances between communities and work sites creates a pressing need for dependable vehicles.
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7/14/14 3:31 PM
July 21, 2014ÛÛÝÛÛ~
USED CAR NEWS
– Continued from page 3
“I’m really humbled and honored to receive this (award),” Hackett said. “I’m deeply honored to be part of this distinguished group.” He thanked the NAAA presidents he has worked with, along with his wife and children. Stanton’s automotive career spans more than 20 years and includes stints at Nissan and American Isuzu Motors in sales and marketing. In 2000, he joined NADA as national sales manager of the NADA Used Car Guide Co., and served in several other roles over the years. In 2006, he was named to his current role.
“He’s been instrumental in working closely with NIADA, assisting our association and promoting the professionalism of independent dealers throughout our country,” Jordan said. Stanton joked about receiving his honor during a Kelley Blue Booksponsored event, and that he joins other Ring of Honor members who worked with NADA Used Car Guide and Black Book. “It’s one of the best parts of this industry,” he said. “As competitive as it is, you still develop great relationships across those lines.”
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7/11/14 4:20 PM
~ÛÝÛÛJuly 21, 2014
USED CAR NEWS
RETAIL MARKETS FLORIDA
Felicia McTiller, coowner, M5 Automotive Group, Davie, Fla.: “My husband, Tromane, and I are co-owners of the business. “We’ve been licensed for about 11 months. We’re actually located in a warehouse, so we only have the ability to carry about six or seven vehicles at a time. “But we’re located right next to Manheim Ft. Lauderdale, so that allows us the flexibility to purchase cars (quickly) that we don’t have in inventory. “We do have a nice office set up, so we cater to customers who might not know exactly what they want. Once they have secured the funding, if we don’t have the vehicle they want in inventory, we can go ahead and purchase it directly from the auction. “We also get cars from other sources, like other auctions or dealers in the area. “We sell, on average, between five and seven per month.
Compiled by Jeffrey Bellant
“Our average retail price is in the $10,000 to $15,000 range. “The vehicles we carry are Nissans, Hondas, Acuras, Infinitis, BMWs – cars that are in the higher price range. So we buy mostly imports. “Even if the customer wants something different, we’re able to provide that for them. “The model years we carry are in the 2005 to 2008 range. “The average mileage is in the 80,000 to 90,000 range. “We don’t do any buyhere, pay-here, but we do have quite a few subprime deals. It’s about 50/50 between subprime and (straight retail). “We’re carrying mostly cars (as opposed to trucks or SUVs). “When we buy cars, we definitely get them PSI’d (post-sale inspections) at the auction and then we bring them to a mechanic to look them over. We have a relationship with an ASEcertified master mechanic who’s near us.
“On a good vehicle, a detail is all we need to do. So the average reconditioning is $100 to $150. “We’re starting to beef up our advertising. Before we were primarily Craigslist. But we do have an AutoTrader.com account and we use CarsforSale and an eBay account. “We also use a lot of social media. Whatever car we bring in, we’ll put it on our Facebook page. We also use Instagram, Google Plus, etc. “We recently sold a 2007 BMW 3-series. It had 89,000 miles. I think we sold that for $13,500.”
Les Bockmann, owner, Bockmann Auto Sales, St. Paul, Neb.: “I’ve been in business since Feb. 1, 1978. “We normally keep about 50 or 60 cars in inventory, but we’re down about 10 units right now. “We get vehicles from auctions and I have contacts with new-car stores, so I’ll buy directly from them too. We also trade and if a cus-
tomer comes in and wants to sell a car, we try and help him out. “Cars are really tough to get right now, especially the cars with the kind of quality that I want to offer my customers. They’re rare. “Our goal is to sell 30 to 35 a month, but we’ve been in the 20 to 25 range. I attribute it to (the difficulty) of finding good inventory. “The other thing that has hurt us is we’re in an area where agriculture is dominant and the price of commodities has tanked. They are about half of what they were. So the disposable income of the farmers is less and it’s a trickle down. But if agriculture prospers, everybody prospers. “We do straight retail. We have several banks that we use. We really don’t do any subprime. “Our average retail price is around $12,000. “The average model year is probably a 2009 or 2010. The average mileage is about 80,000ish. “We feel pretty good if we can get a five- or six-year old
car with 120,000 miles. It’s a different ballgame than it was even a few years ago. “We carry 60 percent trucks and SUVs and 40 percent automobiles. “We’ll spend $800 to $1,000 on average for reconditioning. You throw a set of rubber on it and you have 2/3 of that money spent. “When people come to buy a car they don’t want to spend a lot more to get them on the road. “We do light mechanical and detail here. Then we have a partner who does the heavier mechanical stuff. “We use AutoTrader.com, Cars.com and we’re in (publications) like Wheels for You and Big Red Auto Book. We also have a website. “We also do a lot of repeat and referral business. I have one customer we’ve sold 21 vehicles to over the years. That comes with treating people right. “We just sold a 2007 Ford F-150 extended cab, fourwheel drive with 140,000 miles. “That one sold for $11,500.”
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7/14/14 3:18 PM
July 21, 2014ÛÛÝÛÛ~
USED CAR NEWS
WHOLESALE MARKETS CALIFORNIA
John Brasher, general manager, Brasher’s Sacramento Auto Auction, Rio Linda, Calif.: “We’ve been here since 1978. “We’re currently running 13 lanes. We have the ability to run 16 total. “Volumes are up about 7 or 8 percent from this time last year. “With everything, we’re running 1,800 to 1,900 cars a week, something like that. “That’s about 60 percent dealer, maybe a little higher – 65 percent. The past few weeks, the sales percentages have been just over 50 percent. “We’re kind of in a weak little market right now. “It might be a little bit of a hangover from tax season. But I also think that everything is pushing a little more toward new (cars). At least that’s the way it seems around our neck of the woods. “We run a Ford factory sale in addition to dealer consignment. We also run Wheels, Wells Fargo, ARI,
Enterprise, DTG, Capital One, GM Financial, Lobel, Repo Remarketing and Westlake. “We’ve seen the repossessions drop – the number of cars, not accounts. There are more lease returns. But on the West Coast, leasing doesn’t play as big of a part here than it does in other markets. There might be a little uptick in the rentals and program cars. “We have a GSA sale. That sale doesn’t run every month, but it runs about 10 times a year. “Since this is the busy time of the year, we’ll run 300 or 400 cars. Those are selling well. “Every other week we run an RV/powersports sale. We run about 100 for each sale. Those are running about 70 percent. We don’t see any ‘seasonality’ affecting volumes on the powersports sale. “About 60 percent of that sale is RV units, 30 percent boats and marine products and 10 percent are bikes, ATVs and off-road stuff. “However, I think the powersports market is still
Compiled by Jeffrey Bellant in recovery. That market was really decimated from the recession. It’s still not what it was a few years ago, at least for us. “Overall, though, the (wholesale) market is still very strong. I think after the summer is over, I expect there to be a lot more program and rental cars. I also expect there to be a lot more lease returns across the board, especially with the captives. “I think that will add a softening to the market. Again, I think that softening is not unnatural. I just think it’s bringing (wholesale prices) out of the stratosphere into the normal level where used cars ought to be.”
Clint Lutz, general manager, Paducah Auto Auction, Paducah, Ky.: “We’ve been in business since 1991. “We have three lanes and we’re running all three. “Volumes are pretty much the same as this time last year. They may be off just
a hair, but we’ll run 200 to 225 every week. “Sales percentages have been in the high 50s, low 60s. On a good week, it will hit almost 70 percent. “(Percentages are) about the same as this time last year. Of course, July always turns around and it’s slow. “We get about 150 dealers in the lanes. It’s probably about the same as this time last year. “Just looking across the lanes, it seems the same. “But last year, we didn’t have the computer system we have now that keeps up with that. We have a good set-up that tracks the bidders, the number of them in the lanes, the sales percentages (etc.), the whole nine yards. “Our old system would just check people in but not really track who was here and when they came. “We’re in the western part of the state, so our dealers are coming from a 150 mile to 200 mile radius. “They are coming from Missouri, Illinois, Indiana and Kentucky.
“It seems like at the sales, there is a shortage of really nice cars with low mileage. When you get one, it brings top dollar. “Dealers, most of them, sound like they’re doing just fair. Nobody’s bragging. “A majority of our cars are dealer consignment. ‘But we’ve got some (repos from) local banks and some from TitleMax and payday loan places. We’ll sell for those places. “On a normal week – out of our 200 to 225 total (units) – we’ll get 50 or 60 that are new-car trades, maybe 30 or 40 are repo-type cars and the rest will be regular dealer consignment. “Everybody I talk to is expecting a bigger increase in repos over the coming months than they expected they would have this time last year. “We also try to do a salvage sale once a month. “The average price is in the low $4,000s. “I really feel that if the demand for the good mileage stuff and nicer cars stays the way it is, the prices are going to stay strong.”
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7/14/14 2:59 PM
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USED CAR NEWS
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DOMESTIC Jun â€˜14 Ford/Lincoln/Mercury 22,821 Ford / Mercury 20,725 Lincoln 2,096 GM 28,939 Buick 2,967 Chevrolet 20,717 GMC 5,114 Oldsmobile Pontiac 106 Saturn 35 Hummer 0 Cadillac 1,597 Saturn through 2009 Chrysler/Dodge/Jeep 10,930 Chrysler 2,124 Dodge 5,048 Jeep 3,758 Memo: Fiat 30 Memo: Chrysler w. Fiat 10,960 Total Domestics 64,287
Junâ€™13 21,385 19,443 1,942 30,574 2,359 22,805 4,823 390 197 1 1,641 10,371 2,201 4,767 3,403 27 10,398 63,972
â€˜14 YTD 131,958 119,596 12,362 185,804 17,371 136,442 30,729 951 311 1 10,113 70,009 13,629 32,369 24,011 203 70,212 397,885
â€˜13 YTD 111,224 100,583 10,641 171,567 13,705 128,425 25,404 2,678 1,355 6 9,450 60,700 12,905 28,235 19,560 129 60,829 352,947
ASIAN Honda Acura Nissan Infiniti Toyota Lexus Hyundai Kia Mazda Mitsubishi Suzuki Subaru Total Asian
Jun â€˜14 18,261 3,173 10,613 1,770 27,739 5,708 7,324 4,056 3,458 58 3,519 85,679
Junâ€™13 22,363 3,607 10,161 982 32,372 6,326 6,773 2,976 3,321 72 3,250 92,203
â€˜14 YTD 117,959 20,397 67,109 9,546 175,496 37,037 45,852 21,863 20,652 349 21,833 538,093
â€˜13 YTD 123,516 20,657 57,283 5,601 184,951 36,459 37,422 15,466 17,943 369 16,807 516,474
EUROPEAN Audi Bentley - EST. BMW Fiat Jaguar Land Rover Mercedes-Benz Smart MINI Porsche- EST. Volkswagen Maserati Volvo Car Total European
Jun â€˜14 3,649 30 7,990 30 514 941 7,941 6 775 930 7,102 27 1,205 31,140
Junâ€™13 3,399 30 6,463 27 301 493 7,766 7 584 720 8,689 30 860 29,369
â€˜14 YTD 21,827 180 47,178 203 2,948 5,791 57,520 52 4,374 5,590 45,015 202 6,704 197,584
â€˜13 YTD 19,185 180 40,278 129 1,736 3,104 48,964 40 3,100 4,770 49,746 211 5,532 176,975
Total - EST.
181,106 185,544 1,133,562 1,046,396 Source: Autodata Corp.
7/11/14 11:24 AM
July 21, 2014ÛÛÝÛÛ~
USED CAR NEWS
ACTUAL WHOLESALE AND PROJECTED RESIDUAL VALUES MAY 2014
SOURCE: BLACK BOOK
Domestic Cars Buick LaCrosse 4D Sedan Cadillac CTS 3.6 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 base 4D Sedan Chrysler 200 Touring 4D Sedan Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln MKS 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 Lancer ES 4D Sedan Nissan Altima base 4D Sedan Nissan Altima S 4D Sedan 3.5 Nissan Sentra S 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan Trucks BMW X3 XDrive28i 4D SAC Cadillac Escalade base 4D Utility AWD Cadillac SRX Luxury 4D Utility AWD Chevrolet Equinox LS 4D Utility FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D Utility 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D Utility Ford Escape SEL 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Flex SEL 4D Utility Honda CR-V LX 4D Utility AWD Honda Odyssey LX Wagon
Jul-13 $ 24200 $ 29700 $ 13650 $ 14400 $ 21300 $ 14600 $ 13600 $ 18000 $ 19600 $ 29600 Jul-13 $ 28800 $ 35050 $ 69600 $ 18300 $ 15300 $ 34800 $ 42400 $ 13900 $ 15200 $ 19350 $ 13250 $ 18150 $ 14200 $ 17100 Jul-13 $ 37200 $ 52350 $ 34650 $ 19500 $ 21925 $ 33650 $ 17450 $ 23525 $ 22200 $ 28125 $ 23900 $ 23100 $ 19500 $ 21600
Jan-14 $ 22350 $ 27300 $ 12250 $ 13100 $ 20150 $ 12800 $ 12650 $ 16300 $ 17150 $ 24700 Jan-14 $ 25200 $ 30650 $ 71900 $ 17000 $ 13700 $ 32600 $ 39000 $ 11600 $ 14000 $ 17750 $ 12450 $ 16150 $ 12800 $ 15550 Jan-14 $ 35300 $ 48450 $ 30900 $ 17550 $ 21125 $ 32200 $ 15800 $ 19625 $ 19950 $ 26950 $ 21375 $ 19850 $ 19200 $ 19950
2012 MODELS Jul-14 $ 20700 $ 26800 $ 12050 $ 12750 $ 20500 $ 13400 $ 12950 $ 17000 $ 17700 $ 25900 Jul-14 $ 23350 $ 28650 $ 66000 $ 17200 $ 14250 $ 32800 $ 35600 $ 12050 $ 13500 $ 16800 $ 12750 $ 16300 $ 13500 $ 16150 Jul-14 $ 31750 $ 45900 $ 30100 $ 17900 $ 22300 $ 30450 $ 15500 $ 22700 $ 18750 $ 27500 $ 22600 $ 22100 $ 19300 $ 20950
Projected Figures Jul-15 Jul-16 $ 18325 $ 16275 $ 22550 $ 19525 $ 10625 $ 9275 $ 11025 $ 9800 $ 17125 $ 14800 $ 11475 $ 9850 $ 10825 $ 9300 $ 15050 $ 13275 $ 15150 $ 13350 $ 22250 $ 19725 Jul-15 Jul-16 $ 20025 $ 17625 $ 24100 $ 20150 $ 53100 $ 45075 $ 14625 $ 12975 $ 12400 $ 10675 $ 26350 $ 22650 $ 30750 $ 25950 $ 10150 $ 8775 $ 12150 $ 10625 $ 14700 $ 12800 $ 11000 $ 9450 $ 14050 $ 12400 $ 11675 $ 10300 $ 14000 $ 12625 Jul-15 Jul-16 $ 27000 $ 23175 $ 39350 $ 34675 $ 25675 $ 23000 $ 14250 $ 11900 $ 18775 $ 16925 $ 26250 $ 23475 $ 12300 $ 10050 $ 18450 $ 15925 $ 15950 $ 13625 $ 23500 $ 20200 $ 18400 $ 16100 $ 17600 $ 15075 $ 16400 $ 14525 $ 17450 $ 15650
Domestic Cars Buick LaCrosse 4D Sedan Cadillac CTS 3.6 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 300 base 4D Sedan Chrysler 200 Touring 4D Sedan Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln MKS 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 Lancer 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 BMW X3 XDrive28i 4D SAC Cadillac Escalade base 4D Utility AWD Cadillac SRX Luxury 4D Utility AWD 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 Grand Caravan SE Wagon Ford Edge SEL 4D Utility Ford Escape XLT 4D Utility 4WD Ford Explorer XLT 4D Utility 4WD Ford F150 XLT Supercab Ford Flex SEL 4D Utility Honda CR-V LX 4D Utility AWD
Jul-13 $ 21400 $ 26100 $ 12450 $ 12500 $ 18550 $ 12750 $ 12350 $ 15800 $ 17600 $ 23900 Jul-13 $ 25500 $ 29750 $ 59100 $ 15550 $ 13850 $ 29000 $ 36200 $ 12950 $ 12700 $ 14000 $ 11350 $ 15500 $ 12800 $ 15500 Jul-13 $ 33900 $ 47450 $ 30050 $ 21150 $ 17250 $ 20125 $ 29150 $ 15500 $ 21600 $ 16500 $ 26925 $ 20650 $ 20025 $ 17900
Jan-14 $ 19950 $ 22600 $ 10750 $ 11200 $ 17350 $ 11250 $ 11150 $ 14600 $ 15250 $ 20700 Jan-14 $ 22600 $ 25700 $ 57600 $ 14700 $ 12300 $ 27800 $ 33400 $ 10900 $ 11350 $ 12650 $ 10700 $ 14150 $ 11500 $ 14200 Jan-14 $ 32400 $ 44850 $ 26350 $ 20150 $ 14000 $ 19350 $ 29150 $ 13650 $ 19125 $ 15150 $ 25950 $ 19975 $ 18300 $ 17500
Jul-14 $17800 $22850 $11000 $11700 $17600 $12200 $11500 $15100 $15750 $22300 Jul-14 $21150 $25150 $49600 $14400 $12850 $25400 $30300 $11500 $11700 $13000 $10700 $14800 $12400 $14250 Jul-14 $28000 $41450 $26350 $20900 $14150 $21100 $28300 $14100 $20900 $15250 $26100 $21500 $21500 $17400
Projected Figures Jul-15 Jul-16 $ 15750 $ 13500 $ 19125 $ 15750 $ 9225 $ 7975 $ 9900 $ 8700 $ 13975 $ 11925 $ 9825 $ 8300 $ 9475 $ 8075 $ 13125 $ 11650 $ 13200 $ 11425 $ 18075 $ 15750 Jul-15 Jul-16 $ 17925 $ 15425 $ 19950 $ 16625 $ 40575 $ 34475 $ 12550 $ 11125 $ 10800 $ 9150 $ 21550 $ 18975 $ 25875 $ 21600 $ 9175 $ 7750 $ 10200 $ 8850 $ 11250 $ 9750 $ 9225 $ 8000 $ 12475 $ 10925 $ 10700 $ 9300 $ 12625 $ 10800 Jul-15 Jul-16 $ 22900 $ 19450 $ 35000 $ 29800 $ 22325 $ 19550 $ 17150 $ 15075 $ 11275 $ 9400 $ 16850 $ 14950 $ 23775 $ 20900 $ 10525 $ 8400 $ 16700 $ 14250 $ 13300 $ 11250 $ 21525 $ 18150 $ 16750 $ 14425 $ 16250 $ 13725 $ 14600 $ 12925
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7/11/14 11:24 AM
ÛÛÝÛÛÛJuly 21, 2014
USED CAR NEWS
Wherever The Road Takes Them... You’re Connected. Compiled By Jeffrey Bellant
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HIGH VOLUME: Michael Reid, national manager of Toyota Financial Services (from left), accepts an award from Manheim representatives Lou Verrengia and Rich Coutu.
Manheim recently honored Toyota Financial Services with the OVE.com Highest-Volume Seller Award for 2013. It was the highest-ever volume sold by one customer on OVE.com in a year. “It is an honor to be recognized by both Manheim and OVE.com, two of our company’s great auto remarketing partners,” said Michael Reid, national manager of Toyota Financial Services /Lexus Financial Services Remarketing. “Our company counts on OVE.com and Manheim to help us to provide solutions, deliver results and sell vehicles.” Allan Wilwayco, general manager of Manheim Digital Marketplace, said the top-seller online earned the award. “TFS has set the standard for digital remarketing, while establishing a transactional market that provides above-average retentions,” he said. “TFS is an excellent partner, and is a leader in the industry.” Reid accepted the award last month at Lexus Financial Services offices in Torrance, Calif.
AFC Moves, Expands Western Branches Automotive Finance Corporation, a business unit of KAR Auction Services, announced recent moves by several of its Western U.S. branch offices into larger, more conveniently located spaces. AFC Denver moved from a downtown location to a larger, more accessible space closer to sister organization Insurance Auto Auctions and independently owned Dealers Auto Auction of the Rockies. Further west, AFC Albuquerque moved to a larger space adjacent to the New Mexico Independent Dealers Association. In San Diego, renovations at ADESA recently concluded, providing
AFC San Diego more than double its original office space. “Our San Jose branch is yet another location where our growth has exceeded our space,” said AFC’s Joe Keadle. “The new location (opening Aug. 1) is close to auctions, easy to get to and nearly double the size of our existing branch.” 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: email@example.com
7/11/14 4:15 PM
July 21, 2014Ă›Ă›Ă?Ă›Ă›~
USED CAR NEWS
Disconnected Jottings From Tony Moorby... Iâ€™ve resisted complaining about the government for as long as my spleen would bear. However I think weâ€™ve reached a point at which all the faux pas would qualify for a David Letterman Top Ten List.
Syrian regime. Arms that now adorn the chests of members of Al Qaeda and their affiliates. 9. Radical Muslimism. How could our years of investment in foreign affairs have misread this growth? One reason
Ć€É&#x; Ĺ´Ĺ°Ć?3,É&#x;0.,(É&#x;) É&#x;."É&#x;#(/-.,3 Ć€É&#x; ,-#(.É&#x; ,)'É&#x;ĹąĹšĹšĹˇĆ‘Ĺ˛Ĺ°Ĺ°Ĺ°É&#x;) É&#x;É&#x;É&#x; É&#x; /.)').#0 Ć€É&#x; ,0É&#x;-É&#x;Ć‰-É&#x;2/.#0É&#x;0#É&#x;É&#x; É&#x; *,-#(.É&#x;) É&#x;-&-É&#x;(É&#x;',%.#(! Ć€É&#x; )),3É&#x;Ć É&#x;--)#.-É&#x;Ĺ˛Ĺ°Ĺ°ĹśĆ‘*,-(. Ć€É&#x; 1,É&#x;."É&#x;#(!É&#x;) É&#x;)(),É&#x;3É&#x;É&#x; É&#x; Ć€É&#x; É&#x;&&É&#x;) É&#x;',
10. Benghazi. If you think weâ€™ve heard the last of this, think again. Especially if Mrs. Clinton decides to get on the ticket for 2016. She was Secretary of State at the time â€“ congressional investigations are ongoing and whilst weâ€™ve caught one of the alleged attackers, questions remain over the reason for the attack, why security was so lax and what exactly was the CIA and some of their â€œcontractorsâ€? doing in the adjacent compound. Some suggest arms were being peddled to the
is that our diplomats are patsies being repaid for contributions to the party. We need career people in these posts with years of experience in what it takes to keep ears to the ground. Itâ€™s too late to bring back Saddam Hussein â€“ at least his dictatorship kept a tight lid on sectarianism and fewer people died than since our cloddish involvement. 8. The NSA. The Department of Proctology and Endoscopy. Enough said but whilst Iâ€™ve got nothing to hide, I thoroughly object to
the assumptions that these people have made as to their authority. Their buddies in the CIA are stomping around Europe in size 14 shoes and raincoats which may as well have spy printed on the back. These guys are probably advising the diplomats on tapped phones! 7. The IRS. Trying to figure out whom to screw while on a tax payer-paid boondoggle in Las Vegas. Note the irony here. Again, these people think theyâ€™re beyond the pale. 6. Healthcare reform. Regardless of where your political tendencies lean, the rollout was a disgrace and there seems to be neither rhyme nor reason to premium calculations. A seventy-year-old, one-armed, asthmatic with diabetes, high blood pressure and a drinking problem can pay less than a young married man with two kids. 5. The Veteransâ€™ Affairs Administration. Like their cousins in other agencies, they lie and cheat to earn bonuses on fiddled performances. All this while the brave men and women of the armed forces are forgotten and left in lines waiting for treatment.
C R O S S WO R D
29. Honda CR-Z and Mazda MX-5, for example (2 words) 31. Upholstery 32. Lexus ___ 33. Retro roadster known as â€œDrive Artâ€? 35. Fiat nationality 38. The â€œpâ€? of m.p.h. 39. Korean carmaker bought by GM 41. __ location 42. Recreational offroader (2 words) 45. Closed, two-door car 46. Head __ head
To see past columns from Tony Moorby, visit www.usedcarnews.com/ columnists/tony-moorby 1
1. Lamborghini supercar 6. VW sedan 10. Kia sedan 12. High-dollar luxury car 13. Alfa Romeo executive car 15. Acura ___ 16. Lending term, abbr. 17. Doing a carwash task 19. Flat or pearl color 20. Short for navigation, abbr. 22. 1920 Belgian auto 24. Hot sports car 26. Model made by 24 across 27. Deceived (2 words)
bly spend $3.7 billion on, handling people who shouldnâ€™t be there and sent back immediately? Theyâ€™ll get the message sooner rather than later and the problem will look after itself â€“ cost a couple hundred thousand. Liberal lawyers will be the only ones to reap any benefit. 2. Budget Deficit. Just because it hasnâ€™t been mentioned in Congress lately because they kicked the can expensively down the road. The meter continues to tick along at $370 billion and the national debt is still a staggering $18 trillion. 1. Unemployment. We canâ€™t afford any of the above, no matter how badly handled or expensive, without a thriving economy and full employment. That should do me for a few months! In the meantime Iâ€™ll look for more shaggy dog stories.
Sponsored by INSURANCE AUTO AUCTIONS
By Miles Mellor
Give our vets a gold standard healthcare card for any provider in the country; fire the administrators and managers; we wouldnâ€™t need them now, making them pay back what they stole, yes, stole. In fact put them in the slammer. I wonder if they paid taxes on their â€˜unearnedâ€™ income! 4. Russian Expansionism. See # 9 above. There was an absolute parallel in the late â€˜30s â€“ history repeats itself. 3. Immigration and Border (Out of ) Controls. Here I have to declare my right-of-center sympathies - like you didnâ€™t already know them â€“ allowing unfettered access is going to be a burden on the greater populace, not just in monetary terms but living standards for all will slip. See Europe. Obama wants to spend $3.7 billion on facilities to handle Mexican border crossers from the whole of South America. What can we possi-
1. Car with a roof that folds down 2. Coffee container 3. Dodge SUV 4. Road fees 5. Porsche 4-door 7. The AW in AWD (2 words) 8. Hyundai 4-door 9. Scion ___ 11. Big maker of S.U.V.â€™s 14. Vectra maker 17. Modified auto, for extra power and speed 18. Woman, in Westerns 21. Shaking 23. Mary Kay car color 25. Gas brand 28. Being at the wheel 30. Type of car window 31. Drink with ice 32. Exhibition 34. American gas company
Answers to the 7/7/14 puzzle 1
36. Theyâ€™re painted by pedicurists 37. Too noisy 39. Oil level ___stick 40. Chinese language 43. Ford model 44. Hello
W R A
T C H
A A M
T N S
N D E R
V A L
Answers to this puzzle in the 8/4/14 issue. Call 1.800.794.0760 for a FREE subscription.
7/14/14 1:13 PM
ÛÝÛÛJuly 21, 2014
USED CAR NEWS
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Your source for quality, value, selection: Chase. A broad selection of pre-owned vehicles from an industry leader. August 2014 Chase High Lines, featuring Jaguar Land Rover Financial Group
Chase ADESA Boston August 1, 8, 15, 29 508-626-7000
Columbus Fair AA August 6, 13 614-497-2000
Manheim New Orleans August 27 985-643-2061
ADESA Charlotte August 7, 21 704-587-7653
Manheim Atlanta August 7, 20, 21 404-762-9211
Manheim Orlando August 5, 12, 19, 26 800-337-8491
ADESA Cincinnati/Dayton August 5 937-746-4000
Manheim Baltimore Washington August 26 410-796-8899
Manheim Pennsylvania August 7, 8, 21, 22 800-777-2053
ADESA Golden Gate August 5, 19 209-839-8000 ADESA Houston August 6, 20 281-580-1800 ADESA Indianapolis August 5, 19 800-925-1210 ADESA Kansas City August 5, 19 816-525-1100 ADESA Lexington August 21 859-263-5163 ADESA San Diego August 21 619-661-5565 ADESA Tulsa August 8 918-437-9044 America’s AA-Chicago August 6 708-389-4488 Brasher’s Salt Lake AA August 12 801-322-1234
Manheim Dallas August 13, 27 877-860-1651 Manheim Denver August 27 800-822-1177 Manheim Detroit August 7, 21, 28 734-654-7100 Manheim Fredericksburg August 14, 28 540-368-3400
Manheim Phoenix August 7, 14, 21, 28 623-907-7000 Manheim Pittsburgh August 27 724-452-5555 Manheim Riverside August 26, 28 909-689-6000 Manheim Seattle August 20 206-762-1600
Manheim Milwaukee August 13, 27 262-835-4436
Manheim Southern California August 7 909-822-2261
Manheim Minneapolis August 20 763-425-7653
Southern AA August 27 860-292-7500
Manheim Nashville August 6, 13 877-386-5004 Manheim Nevada August 8 702-361-1000 Manheim New Jersey August 13, 20, 27 609-298-3400
Choose Chase on ADESA.com and OVE.com for quality bank-sourced vehicles. Contact auctions directly for current sale information.
ADESA Boston August 8 508-626-7000
Manheim Dallas August 13 877-860-1651
Manheim Orlando August 26 800-337-8491
ADESA Golden Gate August 19 209-839-8000
Manheim Milwaukee August 27 262-835-4436
Manheim Pennsylvania *August 7, 21 800-777-2053
Manheim Atlanta August 20 404-762-9211
Manheim Nashville August 6 877-386-5004
Manheim Riverside August 28 909-689-6000
*Only Jaguar and Land Rover vehicles will be sold on August 7. All other high lines, excluding Jaguar Land Rover, will be sold on August 21.
Mazda Capital Services ADESA Boston August 1, 15, 29 508-626-7000
Manheim Detroit August 7, 21 734-654-7100
ADESA Golden Gate August 5 209-839-8000
Manheim Fredericksburg Manheim Pennsylvania August 14 August 8, 22 540-368-3400 800-777-2053
ADESA Kansas City August 19 816-525-1100
Manheim Milwaukee August 13 262-835-4436
Manheim Pittsburgh August 27 724-452-5555
Columbus Fair AA August 13 614-497-2000
Manheim Nashville August 6 877-386-5004
Manheim Riverside August 26 909-689-6000
Manheim Atlanta August 21 404-762-9211
Manheim New Jersey August 13, 27 609-298-3400
Manheim Seattle August 20 206-762-1600
Manheim Orlando August 5, 19 800-337-8491
Subaru Motors Finance ADESA Boston August 1, 15, 29 508-626-7000
Manheim Detroit August 7, 21 734-654-7100
Brasher’s Salt Lake August 12 801-322-1234
Manheim Fredericksburg Manheim Pittsburgh August 28 August 27 540-368-3400 724-452-5555
Columbus Fair AA August 6 614-497-2000
Manheim Milwaukee August 27 262-835-4436
Manheim Seattle August 20 206-762-1600
Manheim Dallas August 13 877-860-1651
Manheim New Jersey August 13 609-298-3400
Manheim Southern CA August 7 909-822-2261
Manheim Denver August 27 800-822-1177
Manheim Orlando August 26 800-337-8491
Southern AA August 27 860-292-7500
Manheim Pennsylvania August 8 800-777-2053
*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. © 2014 JPMorgan Chase Bank, N.A. Member FDIC. All rights reserved. (12-381) 06/12
7/11/14 12:35 PM
DO YOU KNOW TODAY’S CUSTOMER? You may think that you can track all of your Internet customers simply through calls or emails. The truth is most shoppers don’t contact dealers at all. In fact, ONLY ONE-THIRD OF CAR BUYERS CALL OR EMAIL BEFORE WALKING INTO A DEALERSHIP. That leaves millions and millions of shoppers who just walk in unannounced. Find out why there’s so much more to the story than just clicks and leads at WeWorkForYou.com/Brian.
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