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May 1, 2017

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Consumers Grow Skeptical of Self-Driving Cars

NOT SO FAST: General Motors CEO Mary Barra shows off a self-driving Chevrolet Bolt. Automakers continue to invest in these emerging technologies but a recent study by J.D. Power finds consumers are growing less enthusiastic about letting vehicles drive themselves.

By Jenny King

Rush - Dated Material

DETROIT — Autonomous vehicles are coming, but do consumers want them? The latest U.S. Tech Choice Study from J.D. Power indicates a growing nervousness among consumer groups when it comes to actually embracing self-driving cars. In Power’s third annual study, conducted online earlier this year, 11 percent more Gen Z consumers (the youngest consumers) and 9 percent more Pre-Boomers (the oldest) said they “definitely would not” put their trust in automated technology compared with responses from

these age categories in 2016. Generation Y, some of whom turn 40 this year, was the only group that did not fluctuate from the preceding study. At the same time, interest in collision protection and driving assistance technology is growing, Power vice president Dave Sargent told the Automotive Press Association in mid-April. The Tech Choice Study, Sargent said, determines what consumers want and how they feel about the future. Drivers today are asking for more help from their vehicles but, at the same time, are distrustful of techno-

logical advances. Kristin Kolodge, director of driver interaction and human machine interface research at J.D. Power, said seven of the top 10 most desired new-vehicle pre-price features chosen by study participants included “seeing” technologies like smart headlights, lane-change assistance and camera rear-view mirrors. But when prices were revealed, respondents clutched their wallets and tended to name less expensive features like simple wireless device connection ($60) and smart parking ($100) as those most desired. Among the top 10, emergency braking and steering system (a $700 op-

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tion) ranked last, though 31 percent said they would be willing to pay for the technology. Kolodge pointed out that 40 percent of Boomers said they see no benefits to self-driving vehicles. But younger people show a little more enthusiasm for vehicle autonomy. Following the Power presentations, a panel of students from Northwood University in Midland, Mich. responded to questions from a moderator. And all three shared skepticism of the touted advantages attached to autonomous vehicles. Continued on page 5


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USED CAR NEWS

May 1, 2017 • 3

NYC Takes Aim at Subprime Auto Finance with Bill A group of New York City officials, including Mayor Bill de Blasio, announced a package of legislation aimed at finance practices in the used-car industry. The legislation would require used-car dealerships to post a Consumer Bill of Rights and disclose information about financing and pricing, provide all required notices to the consumer in whatever language used to negotiate the contract, and provide consumers with the option to cancel their contract within two days of the sale. “When buying a used car, consumers will now have the information they need to avoid loan products that border on usury,” de Blasio said. “We’re fighting to prevent unscrupulous dealers from peddling deceptive loan products, which too often target families that are already economically vulnerable.” The legislation comes as a result of the public hearing hosted last October by Department of Consumer Affairs Commissioner Lorelei Salas and Rafael Espinal, Jr., chair of the Council Committee on Consumer Affairs. The DCA licenses used-car dealers in the city. From October 2013 through March 2017, DCA received 826 complaints from consumers related to purchase or payment issues in connection with used cars. The complaints range from instances of

forgery on contracts to a lack of material disclosures by dealership staff and are concentrated in boroughs outside of Manhattan where most of DCA’s licensees are located and customers are more likely to rely on automobiles for transportation. The top five ZIP codes by number of complaints received are all in Brooklyn with the exception of Ridgewood in Queens. The characteristics of these neighborhoods suggest that used car financing issues are concentrated in areas that are traditionally unbanked or underbanked, have populations that are largely New Yorkers of color, or have sizeable communities of individuals with limited English proficiency. The bills “aim to tackle deceptive practices engaged in by used-car dealers.” These include misrepresenting add-on products as necessary to obtain financing and misstating monthly payments. The bills also consider it a deceptive practice to place a consumer in a longterm contract and not disclose dealer markups of lender financing rates, total interest rate, and the total amount a consumer will pay for a car over the life of a loan. The proposed legislation would require used car dealerships to disclose the following to consumers:

Photo by The Associated Press LATEST CRUSADE: Mayor Bill de Blasio addresses reporters at a recent press conference. At one of these recent events, de Blasio and other city officials unveiled legislation targeting subprime auto finance.

• The lowest annual percentage rate offered by a finance company to the consumer; • Any charge imposed by the dealership for arranging financing, including mark-up charges and processing fees; • A statement that the consumer is not required to obtain financing through the dealership; • The price of each additional good, accessory, service, product, or insurance offered for sale with the automobile; and • The total cost and monthly payments, including financing, to purchase the car with each additional item included, without any items included, and with all items included.

The proposed legislation would also require used car dealerships to post and distribute a Consumer Bill of Rights to consumers. Dealerships will be required to retain a copy of the bill of rights signed and initialed by the customer for six years following the sale. The Bill of Rights would inform consumers that used car dealerships must: • Offer a contract cancellation option agreement; • Inform consumers that they are not required to finance their purchase through the dealership, they have the right to pay in cash or seek a loan from another lender; • Sell cars at the price advertised, quoted or posted on the automobile;

• Inform consumers that they can file a complaint; • Inform consumers that they are entitled to a “Used Car Buyer Guide,” as well as various warranties and rights under N.Y. state laws; • Inform consumers of the lowest annual percentage rate offered by the financing company and any fees being charged by the secondhand auto dealer for such inancing purchases; and • Disclose in writing the itemized cost of each additional good or service being offered, including the monthly and total cost of financing with and without each additional good or service.

Recalled Airbags Wind up in Other Used Vehicles LAS VEGAS (AP) – A Nevada crash that nearly killed a young woman has exposed a hole in the government’s eforts to get dangerous Takata air bag inlators of the road: There’s nothing that prevents the devices from being taken from wrecked cars and reused. Shrapnel from an inlator punctured Karina Dorado’s trachea after a relatively minor crash in Las Vegas on March 3. She was rushed to a trauma center, where surgeons removed pieces that damaged her vocal cords. She is still being treated for neck injuries. Dorado, 18, is among

nearly 200 people injured or killed by the inlators, which can explode when the chemical propellant inside degrades. What’s different about her case is how the inlator wound up in her family’s 2002 Honda Accord in the irst place. Dorado’s father, Jose, bought the car for her in March of last year so she could get to and from her job at a customer service call center, attorneys for the family said Wednesday. The family did not know the car’s history, including that it had been wrecked in Phoenix and declared a total loss by an insurance company in 2015, the attor-

neys said. According to AutoCheck, a service that tracks vehicle histories, the car was given a salvage title, repaired and resold in Las Vegas last spring. Engineers from Honda inspected Dorado’s car after the crash and found that the inlator blew apart. They traced the inlator serial number to a 2001 Accord, which had been covered by a recall but never had the inlator replaced. Honda spokesman Chris Martin said the air bag in the 2001 Accord must have been removed by a salvage yard, or it could have been stolen.Somehow it ended up

with the shop that repaired the car eventually bought by the Dorados. It’s perfectly legal under federal law for air bag assemblies or other parts subject to recall to be pulled out of wrecked cars and sold by junkyards to repair shops that may not even know the danger. No government agency monitors the transactions. In addition, no states appear to have laws against the reuse of recalled parts. “What there should be is a program that prevents old air bags from being recycled,” said Michael Brooks, acting director of the nonproit Center for Auto Safety.

Carfax, another auto history tracking service, said it is unknown just how many cars are sold each year with salvage titles, but they number in the thousands. Takata inlators worldwide have killed at least 16 people and more than 180 injured. The problem touched of the biggest automotive recall in U.S. history, with 69 million inlators recalled. About 100 million have been recalled globally. Takata has been ined and faces lawsuits, and it could be driven into bankruptcy. Continued on page 8


4 • May 1, 2017

USED CAR NEWS

NEWS BRIEFS IIHS Raises Bar on Used Car Recommendations The Insurance Institute for Highway Safety is applying more stringent criteria to its list of recommended used vehicles for teens, as recent safety improvements have percolated down to lower-cost used cars, SUVs, minivans and pickups. Teenagers are among the riskiest drivers, but they often end up with inexpensive vehicles that don’t offer adequate protection in a crash. IIHS began publishing a list of recommended used vehicles for teens in 2014 to help families ind safer vehicles that it within their budgets. The latest update includes 49 “best choices,” starting under $20,000, and 82 “good choices,” starting under $10,000. For the irst time this year, small overlap front crash protection has been factored into the best choices section of the list. And the bar has

been raised for the less expensive good choices as well, with better side and head restraint ratings required. Prices for listed vehicles are provided by Kelley Blue Book, based on estimates for a private-party purchase near the institute’s Arlington, Va., headquarters.

21 locations. Early this year, the irm acquired seven auctions from the Auction Broadcasting Company. Owned by CEO Ben Lange and private equity irm Trinity Hunt Partners, America’s Auto Auction launched in 2006 with four auction facilities. Miskotten started West Michigan in 1997. The auction joined ABC in 2000, but Miskotten regained sole America’s Adds Two More Auctions ownership in 2008. Miskotten has operated the I-94 America’s Auto Auction has announced the acquisition of two auc- Vehicle Auction since 2007. tion locations: West Michigan Auto Auction in Parma, Mich., and Interstate 94 Vehicle Auction in Wayland, GWC Improves Online Coverage Lookup Mich. Carl Miskotten, who will stay on GWC Warranty has improved its as general manager of the two facili- online coverage lookup tool to betties, sold both facilities to America’s ter assist drivers in obtaining critical Auto Auction. vehicle service contract informaThe oicial date of the acquisition tion. was April 1. A redesigned layout makes it easAmerica’s Auto Auction now has ier to enter required information

MILESTONES Gregory Joseph Koepfer, general manager of ADESA Knoxville, died from a heart attack April 15. He was 48. Koepfer recently celebrated his 14-year anniversary with ADESA. He served as the general manager

in Knoxville for nine years and was previously the general manager at ADESA Des Moines. Koepfer is survived by his wife Stephanie, son Nathan and daughter Allison. In lieu of lowers, donations are SAVANNAH, GA

Have You Heard The News? Southeastern Auto Auction is Now Offering Vehicles from:

while downloadable electronic contracts provide drivers an added level of detail about their coverage. With the availability of electronic contracts through the coverage lookup tool, customers enter their last name along with either an ID card number or the last six digits of their VIN.

Franchise Stores Sell 37 Percent of All Used Cars New-car dealerships sold 14,968,206 million used vehicles in 2016, which accounted for 37 percent of all used vehicles retailed. According to the annual member survey by the National Automobile Dealers Association, the average selling price of a used vehicle was $19,866, up 2.5 percent from 2015. The number of customers purchasing a new- or used-vehicle service contract was 43.7 percent, up 1 percent from 2015.

being accepted on Greg’s behalf to the Concord Christian School Athletic Department (11704 Kingston Pike, Knoxville, Tenn. 37934) or the Habitat Home Store (303 Simpson Rd., Lenoir City, Tenn. 37772).

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USED CAR NEWS

May 1, 2017 • 5

J.D. Power– Continued from page 1

Photo by Jenny King TASK AHEAD: J.D. Power’s Kristin Kolodge tells reporters at a recent press event that dealers will carry the burden of explaining new technologies to consumers.

Gen Z respondents to the Power study did cite the potential for fewer accidents among the positives of autonomous vehicles. Kolodge sees a burden for both new- and used-car dealers when it comes to explaining the growing sophistication of technologies available to drivers. There is reason to believe acceptance will grow. Hybrid, full-electric and hydrogen-powered vehicles are proving themselves in the marketplace, Kolodge said, in spite of initial concerns about alternative-fuel power plants and their practicality. Autonomous technologies and new approaches to the use and ownership of cars likely will follow a similar path over time.

Looking ahead 30 years, Sargent called the change in the automotive world “seismic,” including everything from autonomous taxis and transport vehicles to increased ride- and vehicle-sharing and communication between vehicles and the infrastructure. Generation Z (born 1994-2004) shows the highest interest in alternative mobility types: half say they are definitely/probably interested in mobility sharing/co-ownership; 56 percent would consider unmanned mobility and 56 percent give thumbs up for mobility-on-demand. The auto industry must steer consumers into future technologies, Sargent said. But in the end, it is consumers who will decide which technologies win.

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The attack happened at Immaculate Auto Sales in Houston, killing brothers Tony and Jesse Contreras and Tony Contreras’ adult son, Casey Contreras. Prosecutors told jurors that Tinsley shot the three after a car he had bought from the dealership was repossessed.

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6 • May 1, 2017

USED CAR NEWS

Man Scams Car Dealers A Connecticut man was sentenced to eight years in prison, followed by three years of supervised release, for operating two separate fraud schemes, one involving buying and selling cars to dealers. According to court documents and statements made in court, the irst scheme involved the theft of postal money orders. Marc Alexander and others conspired to steal blocks of blank postal money orders from the U.S. Post Oice in Old Greenwich. Alexander, his wife Rachael Alexander, and others then imprinted the money orders with various denominations using a computer font designed to make them appear to be authentic. The Alexanders, Bernard Harris and others then deposited the fraudulently imprinted postal money orders into numerous bank accounts, either at an ATM or at a teller window. Members of the conspiracy then withdrew and used the funds. At times, members of the conspiracy also used the fraudulently imprinted postal money orders to make payments to other individuals. The loss from this scheme was $313,570. The second scheme involved the fraudulent sale of inanced vehicles.

The Alexanders took straw buyers to various car dealerships and had them ill out inancing paperwork to buy high-end cars. Typically, the Alexanders would take the car and the straw buyers would sign a power of attorney form to allow them to obtain a new title for it. The Alexanders would then contact the Connecticut Department of Motor Vehicles and claim that the title had been lost and they needed a replacement title. At the DMV, they would present a fake letter from the car inancing company stating that the loan had been paid of in full. After they received the new title, the Alexanders would sell the car to another dealer. The original car loans were not paid and went into default. The straw buyers inanced more than $1 million in fraudulent car loans during the course of this scheme. Marc Alexander pleaded guilty to one count of conspiracy to commit wire fraud stemming from the postal money order scheme, and one count of conspiracy to commit mail and wire fraud stemming from the vehicle scheme. Rachael Alexander, also known as Rachael Vierling, and Bernard Harris have pleaded guilty and await sentencing.

Owner Opposes Moratorium MURFREESBORO, Tenn. (AP) – The Murfreesboro City Council has issued a moratorium on new site plans for new- and used-car stores until traic safety requirement are improved. The Daily News Journal reports that the dictate doesn’t govern existing lots. But one used-car dealer is using his position on a city board to oppose it. Planning Director Gary Whitaker says the council’s unanimous vote stemmed from concerns about public safety.

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He says trucks have been unloading cars in the right of way on busy streets and merchandise has been parked in a manner that blocks the vision of drivers. Rutherford County Industrial Development board member Jimmy Evans, who owns three used-car lots, says the moratorium unfairly inhibits legitimate business for an uncertain period of time. He called for the city to craft better site plans. Whitaker says the city will work on new requirements to ensure trafic safety.


8 • May 1, 2017

USED CAR NEWS

PEOPLE IN THE NEWS Cox Automotive Hires Economists Jonathan Smoke joins Cox Automotive as chief economist and will lead the creation of

Jonathan Smoke an economic industry insights oice. This new oice is tasked with leveraging data to expand Cox Automotive’s expertise in all aspects of the automotive industry. Smoke succeeds Tom Webb, who is retiring June 30. Based in Atlanta, Smoke reports to Isabelle Helms, vice president of research and market intelligence, Cox Automotive. A 21-year veteran of the housing industry, Smoke most recently served as Realtor.com’s chief economist. Prior to that, he was the chief economist for Hanley Wood, a media and market intelligence

company, and also served in a variety of roles at Beazer Homes, including senior vice president of strategy and innovation. Smoke holds a bachelor’s degree in economics and religious studies from Rhodes College and a master’s degree in business from The University of Texas at Austin. Charlie Chesbrough is joining Cox Automotive as senior economist and senior director of industry insights. Chesbrough previously served as executive director and senior economist for the Original Equipment Suppliers Association (OESA). Prior to joining OESA, Chesbrough was the senior principal economist and director of industry analysis at IHS Automotive, where he was responsible for developing and integrating statistical models and economic scenarios into global automotive forecasts. Chesbrough brings more than 25 years experience in market planning; demand forecast modeling and consumer research for Fortune 500 companies across many industries. Reporting to

Smoke and based in Detroit, he will assist in the creation and development of the new Cox Automotive economic industry insights oice. In addition, he will direct the company’s automotive forecasts as well as manage the economic industry insights related to the new-car sector of the automotive market.

vices as well. Headquartered in Chicago, Drivin was launched in 2015 by Groupon co-founders Brad Keywell and Eric Lekofsky, Drivin CEO Kayne Grau and Chief Operating Oicer Justin Mahlik. Both Grau and Mahlik will continue to lead Drivin at KAR as president and chief operating oicer, respectively. Tech Execs Join KAR in The company will also Acquisition retain the Chicago loKAR Auction Ser- cation and key memvices Inc. announced bers of the Drivin leadthe acquisition of Car- ership team. Co Technologies Inc., d/b/a Drivin, in a $43 CarMax Promotes HR million stock purchase Chief transaction. CarMax Inc. anDrivin aggregates nounced the promoautomotive retail pric- tion of Diane Long ing, registration and Cafritz to the newly other market and eco- created position of nomic data from a chief human resources variety of public and oicer and senior vice proprietary sources. president. The insights generCafritz will lead all ated from that data human resources and are deployed through loss prevention areas predictive pricing, in- with the primary reventory management sponsibility of leading and vehicle matching CarMax’s strategy to tools that help custom- attract, develop and reers buy, sell and source tain talent to support vehicles. the company’s business KAR plans to build and its future growth. on this foundation and Cafritz joined Carleverage Drivin’s in- Max in 2003 as assisfrastructure and user tant general counsel, interface to deploy its managing commercial own products and ser- and consumer litiga-

tion and has provided signiicant leadership within the company’s ield operational leadership team. She was promoted to vice president in 2014. Prior to joining CarMax, she was employed by McDermott, Will & Emery in Washington, D.C., in the litigation department. She earned her B.A.

pressway and will be joining Pleasanton, Fremont and Santa Rosa as the fourth CarMax location in the Bay Area.

BSC America Taps Auction Vet for GM Post BSC America announced that industry veteran Eric Wagner had been named general manager of Tallahassee Auto Auction. Wagner brings more than 30 years of auto

Diane Cafritz in economics and international relations at Tufts University, and received her J.D. from the University of Virginia. CarMax is hiring to ill 110 positions among the company’s stores in the Bay Area. This includes 75 positions at a new CarMax location in San Jose slated to open in June. The new San Jose store will be located at 750 W. Capitol Ex-

Eric Wagner auction experience to the role. Wagner’s career has taken him to auction markets in Detroit, Flint, Mich., Atlanta and, more recently, Daytona Beach, Fla., where the Florida Independent Automobile Dealers Association (FIADA) recognized him as the Auction Person of the Year.

Recalls – Continued from page 3 The inlator that nearly killed Dorado was among the most dangerous made by Takata. In testing, inlators taken from older Hondas had a 50 percent chance of blowing apart, prompting the automaker and the National Highway Traic Safety Administration to issue desperate pleas for people to get them replaced. Unlike most other air bag makers, Takata used the chemical ammonium nitrate to create a small explosion to inlate the bags in a crash. But the chemical deteriorates over time when exposed to heat and humidity, causing it to burn too fast

and blow apart a metal canister. Attorneys for the Dorado family said they are trying to ind out where Jose Dorado bought the Accord. “It’s a tragedy that shouldn’t have happened,” said Billie-Marie Morrison, one of the attorneys. “You would think in today’s age with communications technology these types of things should not be allowed to happen.” Morrison said she doesn’t know if the elder Dorado checked the Accord’s vehicle identiication number in a government database of recalled vehicles to see if it had any unixed recalls. Had he checked, he would

have been given a false sense of security: The NHTSA website says the car has zero outstanding recalls. Honda said that before the Phoenix wreck, the previous owners had the air bag inlator replaced twice under recalls. The federal government has no authority over used car sales and cannot stop air bags from being resold, a NHTSA spokeswoman said. The American Association of Motor Vehicle Administrators said it knows of no states that prohibit salvaged parts from being reused, though some require parts to be inspected to make sure they aren’t stolen. Honda’s Martin said the

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automaker has a program to buy up air bags made by Takata. In the past few years it has purchased 60,000 to take them out of circulation, he said. Brooks said people should be suspicious of cars with salvage titles because there is no way of knowing where the parts came from or the quality of the repair work. Although some are safe, stolen or counterfeit parts can be used, he said. “There are just so many questions that are impossible to answer,” he said. “I would always recommend buying something that has no crash history if you can.”

In related news, New York’s attorney general reached settlements with 104 auto dealerships that sold vehicles without disclosing that the vehicles were under recall for unrepaired safety issues. As part of its investigation, the attorney general’s oice surveyed advertisements, monitored vehicles covered by safety recalls, and identiied auto dealers that advertised vehicles with unrepaired safety recalls. As part of the settlements, the participating auto dealers are required to adhere to a set of guidelines in order to alert consumers that their vehicles may have unrepaired recalls.


USED CAR NEWS

May 1, 2017 • 9

RETAIL MARKETS MINNESOTA James Long, president, Long’s Auto Place Inc., St. Paul, Minn.: “We’ve been in business since May 1991. I have one location. “We have a retail division and a wholesale division. We keep about 55 vehicles for sale on the retail lot. There’s typically eight to 10 in reconditioning at a time, too. So we carry from 60 to the mid-70s. “On the retail side, we sell about 30 – give or take – per month. In 2016, we were about 17 percent back of what we’re doing this year. We have a much better year going on in 2017 at this point. “It seems like we’re working more in special inance. Probably 60 percent of everything we deliver has a substantial acquisition fee and when I say that, I mean probably over $100. “Tax time is big for us and it was a really lat tax season. “(To acquire our vehicles),

we have dealers call us for buy bids. We also get them from auctions. I also have a buyer/wholesaler who is on the road six days a week. So whenever I see things he brings in that will work for me retail – or when he sees something he thinks will work well, he brings it up to me. So I’m doing much less traveling to purchase vehicles for myself in recent years. “I don’t do buy-here, payhere because almost every single one I’ve done in the past has been a lop. “I don’t have cars speciically set up for special inance. But, as I said, about 60 percent of my deals are special inance. It’s all about structure when you do special inance. “The average price on the lot is $12,815. It’s within a couple of percentage points of last year. “Average mileage is a moving target, but it’s probably around 80,000. Our average model year is probably 2009 or 2010.

“We have a small percentage of trucks, but we’re doing a little bit more. Typically, 45 percent of our business is SUVs. It’s probably 45 percent cars and 10 percent trucks. “I carry about 70 percent domestic and 30 percent import. “Reconditioning costs $481 per car. It’s probably up $30 a car. “We have our own shop. So we do 75 percent of all the work internally. We don’t do any detailing here. We only have a two-man, two-bay shop that can get overloaded. The reason is we have a lot of retail clients that want to come in because they bought their vehicles here and like our technicians. It’s tough to turn down a client who bought a car from us six months ago and wants their work done here. “Advertising is mainly digital. We do Cars.com, CarGurus, AutoTrader, Craigslist and Google Search. We did a large direct mailer – a bankruptcy

Compiled by Jeffrey Bellant mailer – and that did not work out too well. “We recently sold a 2013 Dodge RAM Bighorn crew cab for $27,000. It had 39,000 miles.”

VIRGINIA Charles T. Smith, owner, Smith Auto Sales, Drake’s Branch, Va.: “We’ve been in business 30 years. It’s just a momand-pop thing. “We keep anywhere from 10 to 15 on the lot. “Lately we haven’t been doing that well, maybe selling ive or six a month. “I get my cars from auctions. I use Motley’s Richmond Auto Auction. “Average retail price is about $8,995, something like that. “We just do straight retail. We don’t do buy-here, payhere. “We carry anything from a 2005 to 2010. Mileage averages from 70,000 to 150,000. Finding cars (in that market) is getting tighter and tighter.

“(Inventory) is a combination of trucks, cars and SUVs. Trucks are harder to get. I’ll buy them when the price is right. “Imports cost more, but people like them better. I still try to stick with some Chevrolets and Fords. But Hondas, Toyotas and Nissans – we sell them all the time. It’s probably 50 percent imports and 50 percent domestics. “Most of the time, with my recent business, reconditioning is just a cleanup and I do that myself. Outside of that, it’s brakes and muflers mostly. I don’t really do anything else. I service my own stuf. I don’t do outside work. “I don’t do any marketing or advertising. It’s all word of mouth. But my son put up a website not too long ago. “This year is a whole lot better than last year. Last year was the worst year I ever had. “One recent car I sold was a 2006 Nissan Altima. It had 134,000 miles. I got $6,500.”


10 • May 1, 2017

USED CAR NEWS

WHOLESALE MARKETS LOUISIANA Steve Chiasson, owner and managing partner, Greater Shreveport-Bossier Auto Auction, Shreveport, La.: “We’ve been in business 10 years, going on 11. “We’re running three lanes consistently. “Our volumes are up this year. We’ve run 5,600 cars this year (through April 20), and last year, at this point, we had run 4,815. So we’ve run around 1,000 more cars. It’s due to a lot of hard work. My son, Matt, has come on board and he’s working his way into stores. I also think (retail) business is up. “This year we are at 51 percent for conversion rates. That’s down one point from last year. “Our leet-repo lane is fairly small. That’s probably about 5 percent of our business. Our (independent) consignment is about 40 percent. Our franchise dealer trades are about 55 percent. We also have a small contingent of non-

drivables. That’s about the same mix as last year. “The only thing I’ve seen change this year is that we’ve just been knocking them dead on the high-dollar stuf – $30,000 and over. “Three weeks ago, we had 25 late-model Mercedes trade-ins that were held because of Takata air bag recalls. The sellers inally released them. They signed a disclaimer to sell them to let the buyer know all they had to do was schedule an appointment to get the recall done. They averaged in price from $25,000 to $30,000 or $40,000. Of the 25, we sold 25. “We get some really nice inventory from our new-car stores. “Tax season lasted about a week this year. We spiked at tax time. We ran 493 cars and it was a 65 percent sale. “I thought, ‘Boys here we go. We’ll have another month of nothing but this.’ The very next week, we were right back down to

350 and a 50 percent sale. I’ve heard every reason in the world why it happened. I’ve heard everything from Obamacare penalties to people getting student loan payments deducted from their returns. I don’t know. “We’ve been right at 175 dealers in the lanes. We’ll consistently get between 165 and 175. “Last year at this point, we had drawn 2,488 dealers and now we’ve drawn 2,680 (through April 20). “We’ve had a surge of dealers sign up in the last few weeks. “Trucks are absolutely ringing the bell and we get a lot of low-mile trucks. We sell for Chrysler stores. “I also sell for the power sports companies – things like boats and four-wheelers. We usually run them as specials at the start of the sale. We get a great response. “Average price in the lanes is $6,500. “We’re on a roll. We’re up this year and we’re going to

stay that way.”

NEBRASKA Ryan Durst, vice president, Lincoln Auto Auction, Waverly, Neb.: “We’re going to be celebrating our 25th year in business early in the fall. “We’ve got four lanes and we’re running all four. Volumes have been a little better recently. “We’re running anywhere from 275 to 325 a week. “We’re selling at 74 percent. We’re in an auction twenty group with some of the best sales in the country. “I’d put our sales percentage up against anybody’s. “We work at getting sellers here who actually want to sell. We don’t want guys here who run 10 cars and sell one. I’d rather have a dealer who brings four or ive and sells three or four. “Tax time is kind of hard to gauge anymore. This year it seemed like it was maybe two weeks in March. “We get anywhere from 200 to 240 dealers in the lanes. It seems retail has

Compiled by Jeffrey Bellant been good, because dealers have been in good moods all year. “Dealer consignment is 90 percent of our volume, while leet-lease and GSA make up the other 10 percent. “GSA units are just starting to roll in now. We’re getting the new ones and the trades. “The irst GSA sale is probably going to be in the middle or the end of May. Then it will probably be every four weeks after that. We usually run between 80 and 120. “We use Auction Edge online and Pipeline for simulcast. Our participation online gets better every week. “Our average price overall in the lanes is around $3,600. “We’re excited about 2017. We’re a few units ahead of last year. We had our best year across the board in 2015 and 2016 was close to that. “We’re excited for the future.”


ACTUAL WHOLESALE AND PROJECTED RESIDUAL VALUES MAY 2017

SOURCE: BLACK BOOK

2012 MODELS

2014 MODELS Recorded Figures

Recorded Figures

Projected Figures

Projected Figures

DOMESTIC CARS Cadillac CTS 3.6 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 200 Touring 4D Sedan Chrysler 300 base 4D Sedan Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Buick LaCrosse 4D Sedan Lincoln MKS 4D Sedan

Apr ‘16 16,600 7,400 7,650 7,650 12,300 6,950 11,200 11,300 12,850 15,000

Oct ‘16 14,800 5,900 6,650 6,850 10,500 5,600 10,000 10,200 11,100 13,100

Apr ‘17 12,400 5,200 5,950 5,600 9,400 4,800 8,600 8,550 9,350 11,100

Apr ‘18 10,225 4,325 5,125 4,550 8,100 4,025 7,675 7,300 8,300 9,525

Apr ‘19 8,375 3,550 4,375 3,725 7,025 3,300 6,525 6,175 7,025 8,175

DOMESTIC CARS Buick LaCrosse Leather 4D Sedan FWD Cadillac CTS 3.6 Premium 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 200 Touring 4D Sedan Chrysler 300 base 4D Sedan Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln MKS 4D Sedan

Apr ‘16 16,800 33,900 9,600 14,900 10,000 15,300 9,700 14,200 14,800 20,150

Oct ‘16 16,150 29,400 8,550 13,950 9,150 14,100 8,750 13,000 13,900 18,100

Apr ‘17 14,150 25,150 7,550 12,200 8,200 13,450 7,450 12,350 12,600 16,300

Apr ‘18 12,700 21,300 6,450 10,575 6,750 11,525 6,200 10,425 10,775 14,050

Apr ‘19 10,825 17,525 5,325 9,000 5,625 9,875 5,100 8,950 9,125 12,125

IMPORTED 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 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 Lexus ES 350 4D Luxury Sedan

Apr ‘16 15,650 16,400 31,500 10,150 8,200 20,400 6,450 8,450 9,250 7,100 10,750 8,400 9,650 17,700

Oct ‘16 14,550 14,150 26,000 8,750 7,400 17,800 5,000 7,050 7,450 5,350 9,250 7,000 8,475 16,100

Apr ‘17 11,550 11,000 20,000 7,800 6,600 14,600 4,150 6,150 6,550 4,600 7,900 6,500 7,525 13,550

Apr ‘18 9,675 10,650 16,325 6,850 5,775 11,925 3,400 5,400 5,750 3,975 6,875 5,425 6,225 10,875

Apr ‘19 7,875 8,825 12,500 5,775 4,900 9,500 2,775 4,575 4,850 3,325 5,950 4,675 5,100 8,950

IMPORTED 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 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 Lexus ES 350 4D Luxury Sedan

Apr ‘16 20,450 20,800 50,100 14,650 11,250 29,500 8,950 11,500 13,700 10,000 13,200 11,550 13,400 24,300

Oct ‘16 19,600 18,900 43,500 13,000 10,450 25,400 7,450 9,800 11,200 8,450 11,550 10,850 13,400 22,600

Apr ‘17 16,250 15,750 36,750 11,850 9,850 22,800 6,100 9,500 10,850 8,050 11,050 10,150 12,250 20,500

Apr ‘18 13,975 14,450 30,075 10,500 8,300 18,700 5,050 8,050 9,050 6,750 9,600 8,775 10,400 16,525

Apr ‘19 11,500 11,875 22,975 8,950 7,025 15,075 4,125 6,825 7,675 5,625 8,300 7,575 8,675 13,625

TRUCKS BMW X3 XDrive28i 4D SAV Cadillac Escalade base 4D SUV AWD Cadillac SRX Luxury 4D SUV AWD Chevrolet Equinox LS 4D SUV FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D SUV FWD Ford Escape XLT 4D SUV 4WD Ford Explorer XLT 4D SUV 4WD Ford F150 XLT Supercab Ford Flex SEL 4D SUV FWD Honda CR-V LX 4D SUV AWD Honda Odyssey LX Wagon Honda Pilot EX-L 4D SUV 4WD w/RES Jeep Grand Cherokee Laredo 4D SUV 4WD Jeep Wrangler Unlimited Sahara 4D SUV 4WD Kia Sportage LX 4D SUV FWD Nissan Murano SL 4D SUV AWD Ram 1500 SLT Crew Cab Toyota 4Runner SR5 4D SUV 4X4 V6 Toyota Tacoma Prerunner SR5 Double Cab V6

Apr ‘16 19,700 30,200 20,250 9,750 19,300 23,500 9,300 14,300 11,950 19,700 16,800 15,500 13,550 13,700 23,000 18,850 24,400 10,600 18,500 18,500 24,000 20,975

Oct ‘16 16,100 28,600 17,700 9,400 17,600 20,600 8,700 12,300 10,500 16,600 15,500 14,000 11,850 11,850 20,400 16,600 24,900 9,250 16,000 16,800 22,250 20,325

Apr ‘17 13,650 25,900 14,300 7,650 16,300 16,500 7,200 10,600 8,750 14,400 13,600 11,100 11,150 10,050 17,050 14,700 23,100 7,750 12,950 14,500 21,700 18,525

Apr ‘18 11,975 21,875 12,675 6,550 14,675 15,250 5,925 9,225 7,475 12,625 12,875 9,850 10,000 8,300 15,350 12,775 22,075 6,825 11,475 13,700 19,325 18,200

Apr ‘19 10,025 18,150 10,775 5,400 13,125 12,775 4,875 7,650 6,225 10,825 11,350 8,350 8,750 6,900 13,025 11,000 20,425 5,825 9,400 12,450 16,925 16,525

TRUCKS BMW X3 XDrive28i 4D SAV Cadillac Escalade base 4D SUV AWD Cadillac SRX Luxury 4D SUV AWD Chevrolet Equinox LS 4D SUV FWD Chevrolet Silverado 1500 LT Crew Cab 4WD Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D SUV FWD Ford Escape SE 4D SUV 4WD Ford Explorer XLT 4D SUV 4WD Ford F150 XLT Supercab Ford Flex SEL 4D SUV FWD Honda CR-V LX 4D SUV AWD Honda Odyssey LX Wagon Honda Pilot EX-L 4D SUV 4WD w/RES Jeep Grand Cherokee Laredo 4D SUV 4WD Jeep Wrangler Unlimited Sahara 4D SUV 4WD Kia Sportage LX 4D SUV FWD Nissan Murano SL 4D SUV AWD Ram 1500 SLT Crew Cab Toyota 4Runner SR5 4D SUV 4X4 V6 Toyota Tacoma Prerunner SR5 Double Cab V6

Apr ‘16 25,650 42,150 27,300 13,150 26,800 29,500 13,100 18,600 15,450 25,500 22,000 20,800 17,100 19,000 29,300 22,550 28,400 13,600 21,975 23,100 27,850 23,950

Oct ‘16 23,150 38,450 24,350 12,650 26,900 28,500 13,100 18,950 14,350 24,300 20,900 20,000 14,950 17,800 27,600 20,400 28,450 12,550 21,275 22,500 26,050 22,800

Apr ‘17 24,350 34,700 21,500 10,800 26,100 27,000 11,500 16,800 12,700 22,100 20,000 18,200 14,150 15,700 25,400 18,700 27,400 11,600 19,175 21,000 26,150 22,950

Apr ‘18 20,125 29,650 19,150 8,925 23,425 23,400 9,400 14,725 10,475 18,625 18,050 15,725 12,775 13,500 22,325 16,400 25,275 10,350 16,275 18,925 22,775 21,025

Apr ‘19 16,900 24,875 16,400 7,500 21,100 19,900 7,725 12,475 8,750 15,825 15,975 13,675 11,300 11,350 19,200 14,125 23,200 9,000 13,475 17,150 20,125 19,150

#s

2013 MODELS

2015 MODELS Recorded Figures

Recorded Figures

Projected Figures

Projected Figures

DOMESTIC CARS Cadillac CTS 3.6 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 200 Touring 4D Sedan Chrysler 300 base 4D Sedan Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Buick LaCrosse 4D Sedan Lincoln MKS 4D Sedan

Apr ‘16 19,200 8,400 8,850 8,750 14,400 8,450 12,600 13,250 14,650 17,950

Oct ‘16 17,800 7,550 8,150 8,050 13,350 7,450 11,500 12,250 14,350 15,600

Apr ‘17 15,600 6,500 7,450 7,150 12,300 6,100 10,450 10,950 12,350 14,000

Apr ‘18 12,850 5,475 6,275 5,850 10,625 5,150 9,125 9,250 11,275 12,100

Apr ‘19 10,550 4,500 5,350 4,825 9,175 4,225 7,800 7,800 9,575 10,400

DOMESTIC CARS Buick LaCrosse Leather 4D Sedan FWD Cadillac CTS 3.6 Luxury 4D Sedan Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan Chrysler 200 S 4D Sedan AWD Chrysler 300 S 4D Sedan V6 Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln MKS 4D Sedan

Apr ‘16 20,200 34,000 11,100 17,100 16,450 23,350 11,200 19,100 17,600 24,200

Oct ‘16 17,250 29,300 10,400 15,400 15,150 21,600 10,500 16,500 15,800 20,600

Apr ‘17 15,850 23,600 8,950 13,150 14,350 19,500 9,000 15,600 14,400 19,300

Apr ‘18 13,950 20,025 7,700 11,425 11,925 16,775 7,675 12,225 12,650 16,650

Apr ‘19 11,925 16,550 6,375 9,750 9,950 14,325 6,325 10,575 10,825 14,400

IMPORTED 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 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 Lexus ES 350 4D Luxury Sedan

Apr ‘16 17,750 18,900 39,600 12,950 9,750 23,000 7,400 10,250 12,500 8,850 11,950 9,800 11,150 21,650

Oct ‘16 16,650 16,650 34,000 11,500 9,100 20,200 6,300 8,750 10,200 7,450 10,300 8,800 11,300 20,250

Apr ‘17 12,950 13,750 28,250 10,450 8,300 18,000 5,350 8,300 9,450 6,950 9,300 7,700 9,950 18,100

Apr ‘18 11,300 12,500 22,775 9,200 7,225 14,700 4,375 7,100 8,075 5,850 8,075 6,675 8,525 14,550

Apr ‘19 9,225 10,300 17,350 7,800 6,125 11,775 3,575 6,025 6,825 4,875 6,975 5,750 7,075 11,950

IMPORTED CARS Acura TLX Base 2.4L 4D Sdn BMW 3-Series 328i 4D Sedan BMW 7-Series 750Li 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata SE 4D Sedan 2.4 Lexus ES 350 base 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

Apr ‘16 23,900 25,600 64,900 16,650 12,950 27,300 36,100 10,050 12,950 15,550 11,100 15,000 12,600 15,400

Oct ‘16 22,500 21,300 55,000 15,150 11,800 26,200 31,100 9,150 11,350 13,150 9,900 13,650 11,650 14,750

Apr ‘17 19,550 19,500 47,250 13,800 11,150 24,800 28,500 8,350 11,100 13,450 9,250 12,400 10,850 13,700

Apr ‘18 16,900 16,625 38,450 12,175 9,375 20,125 23,550 6,650 9,325 10,750 7,800 10,675 9,400 11,650

Apr ‘19 14,200 13,725 29,675 10,400 7,950 16,650 19,175 5,450 7,925 9,150 6,525 9,250 8,125 9,750

TRUCKS BMW X3 XDrive28i 4D SAV Cadillac Escalade base 4D SUV AWD Cadillac SRX Luxury 4D SUV AWD Chevrolet Equinox LS 4D SUV FWD Chevrolet Silverado 1500 LT Ext Cab 4D Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D SUV FWD Ford Escape SEL 4D SUV 4WD Ford Explorer XLT 4D SUV 4WD Ford F150 XLT Supercab Ford Flex SEL 4D SUV FWD Honda CR-V LX 4D SUV AWD Honda Odyssey LX Wagon Honda Pilot EX-L 4D SUV 4WD w/RES Jeep Grand Cherokee Laredo 4D SUV 4WD Jeep Wrangler Unlimited Sahara 4D SUV 4WD Kia Sportage LX 4D SUV FWD Nissan Murano SL 4D SUV AWD Ram 1500 SLT Crew Cab Toyota 4Runner SR5 4D SUV 4X4 V6 Toyota Tacoma Prerunner SR5 Double Cab V6

Apr ‘16 23,350 36,750 23,600 11,750 21,000 27,000 11,100 17,700 15,200 23,400 20,500 19,500 15,100 15,450 25,750 21,300 25,850 12,400 19,750 20,700 25,600 22,350

Oct ‘16 21,050 34,600 22,200 11,400 20,300 26,000 11,300 17,050 14,750 21,700 19,200 18,500 13,500 13,950 23,900 19,150 27,000 11,200 18,900 20,000 24,700 22,150

Apr ‘17 17,050 30,500 19,150 9,800 19,300 23,700 9,500 14,350 12,450 18,200 17,500 16,200 12,550 11,800 22,000 17,750 25,350 10,350 16,850 17,800 25,200 21,650

Apr ‘18 15,425 26,375 17,000 8,000 17,250 21,125 8,025 12,775 10,625 16,150 16,500 14,275 11,525 10,250 19,225 15,450 24,000 9,100 14,475 16,350 21,775 20,150

Apr ‘19 12,900 22,025 14,500 6,650 15,475 17,850 6,575 10,750 8,850 13,750 14,500 12,300 10,150 8,575 16,450 13,300 22,125 7,850 11,900 14,875 19,175 18,375

TRUCKS BMW X3 XDrive28i 4D SAV Cadillac Escalade base 4D SUV 4WD Cadillac SRX Luxury 4D SUV AWD Chevrolet Equinox LS 4D SUV FWD Chevrolet Silverado 1500 LT Crew Cab 4WD Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D SUV FWD Ford Escape SE 4D SUV 4WD Ford Explorer XLT 4D SUV 4WD Ford F150 XLT Supercab Ford Flex SEL 4D SUV FWD Honda CR-V LX 4D SUV AWD Honda Odyssey LX Wagon Honda Pilot EX-L 4D SUV 4WD w/RES Jeep Grand Cherokee Laredo 4D SUV 4WD Jeep Wrangler Unlimited Sahara 4D SUV 4WD Kia Sportage LX 4D SUV FWD Nissan Murano SL 4D SUV AWD Ram 1500 SLT Crew Cab Toyota 4Runner SR5 4D SUV 4X4 V6 Toyota Tacoma Prerunner Double Cab V6

Apr ‘16 30,750 60,550 33,650 15,600 28,700 35,500 16,300 23,300 17,400 27,500 24,200 23,500 19,550 21,050 30,750 25,250 30,500 15,400 27,450 24,900 30,550 23,650

Oct ‘16 27,450 54,650 31,100 14,500 29,500 34,800 15,500 21,950 16,350 25,800 24,000 21,600 17,400 21,400 29,700 22,550 29,800 14,100 28,000 24,500 29,200 23,900

Apr ‘17 24,950 50,500 25,050 12,050 27,800 33,200 13,000 19,450 15,100 25,300 21,800 18,800 15,650 18,200 27,900 22,350 29,100 12,850 25,250 22,700 28,100 23,950

Apr ‘18 21,375 43,225 22,050 10,050 24,825 28,600 11,075 17,025 12,200 21,375 20,025 16,700 14,350 15,750 24,475 19,075 26,675 11,450 21,400 20,250 25,350 21,550

Apr ‘19 18,025 36,425 18,950 8,475 22,425 24,450 9,150 14,525 10,250 18,175 17,775 14,675 12,775 13,300 21,150 16,500 24,375 10,000 17,775 18,225 22,450 19,650


12 • May 1, 2017

USED CAR NEWS

DISCONNECTED JOTTINGS FROM What could possibly be worse than walking onto a used-car lot or trying to cross a new-car showroom without the corporeal and

TONY MOORBY

We have many furniture outlets around us, some national chains and some local or regional set-ups. But whoever they are they make

Tony Moorby • 50-year veteran of the industry • President from 1997–2000 of ADT Automotive • Served as ADESA’s executive vice president of sales and marketing • Moorby & Associates 2006–present • Awarded the Ring of Honor by NIADA • NAAA Hall of Famer

mental assailments one usually associates with such an expedition? I’ll tell you – dealing with a furniture showroom. We recently redecorated our rec room and decided it was time for a couple of new sofas and a cofee table – nothing too expensive or pretentious, you understand – something on which we could lop around and relax. The new layout predicated that the cofee table be round – more on that later.

car dealers look like choirboys. It’s small wonder that online suppliers are doing so well. However, I still feel the need for the tactile satisfaction of being able to touch, feel and so on and make the decision in real time. I may be a little more reticent on the next venture, but there’s still a sense that ordering something remotely is not as compelling. Moreover, I can’t imagine the need to break into some lunatic

dance, as some advertisers seem to intimate is the standard reaction to having new furniture delivered. Our irst foray was into a showroom that was laid out in a rotunda with an administration area in the middle. We were greeted – no, assaulted – within ive feet of the entrance by an overly dressed Southern belle with pancake makeup smelling of stale rosewater. “Well, good mornin’, how’re y’all doin’ this beautiful day? Ma name’s Doris (not really, I’m just trying to protect the innocent!) What can I hep y’all fahnd today?” The accent was shrill and nasal, a cross between Bristol, Tenn., and Belle Meade Boulevard in the poshest part of Nashville. It was put on and obviously so. We informed her we were just looking and got the Southern Kiss of Death – “Well bless your hearts! Y’all must be looking for sumthin’, otherwise y’all wouldn’t be here!” She broke into a cackle that would have done

C R O S S WO R D 31 Indy 500 circuits 33 It will show up on a Carfax report 36 Wood sometimes used for trim 38 Gas up 40 Make another blueprint 43 Humanitarian org. 44 Car that made its debut at the 1964 New York World’s Fair 45 Car cleaning equipment Down 1 Makers of the Outlander 2 One type of customer, 2 words 3 Warriors’ grp. 4 Nissan truck

away from her quarry. Every now and then she would appear from nowhere, afecting an innocent look of “Oh, it’s you again”, her camoulage being a clipboard as though she were looking for something. It was uncomfortably and excruciatingly obvious. Other staf kept watch as though they had some sort of communication device like the Secret Service, speaking into their sleeves: “They’re approaching end tables.” It was getting dark outside, so we beat a hasty retreat lest Medusa turned us to stone! The next day was brighter. Fearing the worst, a lovely lady made us feel at home to wander at our leisure and to let her know if we had questions. She served cofee as we paid the bill. I write this propped up on my new reclining sofa, a libation within arm’s reach on the (round) cofee table.

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

By Myles Mellor

Across 1 Porsche model, two words 5 ____ the gas, accelerate- 2 words 10 Luxury electric car 11 Ford F-150, e.g. 13 Average name 14 Target 15 Mpg stat category 17 “It won’t be an issue!”- 2 words 19 Frigid 21 Luxury car with a trident emblem 23 It’s 6 points, abbr. 24 Take a look at 25 Before, preix 26 AMC model from the 70s 27 Sport ___ (modern vehicle) 28 Rear

Shakespeare’s coven justice and she followed us around, hot breath down our necks, suggesting we needed everything from a new mattress to patio furniture. She couldn’t possibly see the need for a round cofee table, probably because she didn’t have one in stock – “Y’all just don’t see them these days!” She was like dog poop on our shoes and we were glad to reach the fresh air back outside. It was something like Car Sales 101 circa 1972. The next was from a similar school – an immediate (and intimidating) welcome, followed by some qualifying questions that bordered on efrontery – she then left us to “look around.” But she hovered and skulked behind dining sets and day beds like a 1960s spy. She glided from soft furnishings to sofas without so much as turning her head

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6 Like some restaurant orders 7 Flappy ___ gear shit 8 Just produced 9 Messages on cars, 2 words 12 Kia sedan 16 Statistics 18 Old Ford, 2 words 20 Top exec 22 Wall is one, Main is another 23 hree way 25 Giving the car a new coat 29 Type of jacket 30 Ford crossover 32 Fiat cars, informally 34 “___ Wash” (Rose Royce song)

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35 Item that adds Solution to the 4/17/2017 puzzle to a car’s appeal 37 Teller’s stack 39 Environmental controllers, for short 41 Type of roof 42 Old British sports car

Solution to this puzzle in the 5/15/17 issue. Call 1.800.794.0760 for a FREE subscription.

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USED CAR NEWS

May 1, 2017 • 13

AROUND THE BLOCK

Compiled by Jeffrey Bellant

AUCTION DONATES EMERGENCY VEHICLE Sale Promotions

HELPING HAND: Manheim Pennsylvania General Manager Joey Hughes presents the donation of an emergency vehicle to Jennifer Wiggin of the American Red Cross.

When Manheim Pennsylvania discovered its local chapter needed a Disaster Relief Vehicle for use throughout the central Pennsylvania region, the team was determined to provide it. Through dealer donations, a raffle, a donation from Carlisle Productions and a pledge from Cox

Automotive, the team raised more than $30,000 to purchase a 2017 Ford Explorer 4x4, which was presented this year to Jennifer Wiggin, major gifts officer of the Central Pennsylvania Region at the Manheim Pennsylvania auction. The vehicle will live at the Lancaster office of the American

2017 DATA SOURCE BOOK

AVAILABLE NOW

CALL 800-794-0760 ext: 109

FOR YOUR FREE COPY

Red Cross and is ready to be deployed upon need. “Our team has supported our Red Cross Chapter for some time, so we rallied around efforts to equip them with a disaster relief vehicle,” said Joey Hughes, vice president and general manager. “The Red Cross goes where no one else can and we are honored to, in a small way, help them get there.” Manheim team members across the organization also mobilized in support of parent company Cox Automotive’s national partnership with the American Red Cross when it was announced last year. During the first year of partnership Cox Automotive team members have provided: 4,675 comfort kits & fire preparedness bags; 965 pints of donated blood; 1,087 volunteers; 2,050 cards written to veterans and 825 teddy bears, through 2,345 volunteer hours and $307,194 in donations.

Draw Dealers

Greenville Auto Auction celebrated a big March with a number of events and promotions, said Billy Willis, auction general manager. The auction held its pre-anniversary sale on March 16. The sale is always one of the largest sales of the year at Greenville, Willis said, and this year’s pre-anniversary sale included a number of giveaways, including tickets to The Masters and the NCAA’s Final Four. Thre was a RAC/BB&T Vacation giveaway and a golf cart giveaway in March Greenville recently held its AdrenaLANE sale on April 13, which included a big consignment of motorcycles, sports cars, RVs, quads and boats as Monster energy drinks were served in the lane. “We look forward to building long term, mutually beneficial relationships with our dealers,” Willis said.

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


14 • May 1, 2017

Special Advertising Section

USED CAR NEWS

You Can Have More Control

Product Showcase Spotlight Northland ..........................................................14 GWC Warranty .................................................15 Advanced Business Computers .......... 15 & 17 United Auto Credit ................................. 15 & 17 Spireon .....................................................16 & 17 MyDealerOnline.com ......................................18 iMetrik Global ..........................................18 &19

Have you ever had a customer wreck the car and then disappear? The insurance company denies the claim because they can’t get cooperation from the customer. Have you ever had a customer stop paying for their insurance but keep driving the car? When you locate the car, you find it’s been badly damaged. The insurance company denies the claim. Even worse, have you ever had a customer file a claim, receive money from the insurance company but doesn’t fix the car? We’ve all had similar frustrating experiences with customers and insurance claims. What if you could have more control over the physical damage insurance? Northland Auto Enterprises recently introduced their new physical damage protection program called Coverage Plus. Coverage Plus gives you the control you’ve been searching for! Coverage Plus is a policy issued to the dealership for physical damage coverage. You can add your leased or buy-here, pay-here

vehicles to your policy and know for sure that they’re covered for physical damage. Your customer reimburses you for the cost of the coverage at the same time they make their vehicle payment. You are in control and the customer has the benefit of fulfilling the requirements of the lease or purchase agreement. Customers also benefit from lower premiums in many cases. The premiums are based on the value of the car rather than on the customer’s credit or driving record so all customers qualify. This is definitely a program that all dealers will benefit from and should check out! Call Northland, 800-879-3433 for more information on the Coverage Plus program. www.HelpingDealers.com

ATTN BHPH, LHPH, & REN’T’OWN®/LEASE’T’OWN® DEALERS Your customer wrecks the car and disappears. The insurance company denies the claim because they can’t get cooperation from the customer.

YOU LOSE!

ADD COVERAGE PLUS TO EVERY DEAL!

The customer stops paying the insurance company but keeps driving the car. When you locate the car, you find it’s been badly damaged. You can’t get the customer to cooperate because you took the car. The insurance company denies the claim.

YOU LOSE! The customer files a claim and the insurance company pays the customer directly. The car doesn’t get fixed and the customer took the money.

YOU LOSE!

YOU are in control of the coverage - not the customer!

YOU WIN! EASY to add and delete covered vehicles.

YOU WIN! All insurance claims are paid directly to YOU! It’s YOUR policy!

YOU WIN!

800-879-3433 www.HelpingDealers.com


USED CAR NEWS

Special Advertising Section

May 1, 2017 • 15

Deining Value in a VSC Deal Pack Does it All Provider For so many dealers, it’s a frequent occurrence to have a service contract provider in your dealership looking to earn your business. Of course you ask about pricing, eligible vehicles and component coverage. But do those questions give you the full picture of the value a service contract provider can deliver? At GWC Warranty, we strive to help dealers sell more cars by giving car shoppers the confidence to become car buyers. This means that we provide a best-in-class customer service experience alongside flexible products designed to meet our dealers’ diverse needs. Our products can be used on vehicles with starting mileage as high as 200,000 miles; our company is a Motor Trend® Recommended Best Buy For Independent Dealers; and our Certified Pre-Owned Program provides a valuable starting point for selling up into richer coverage levels. But how else can a service contract provider help you sell more cars? Seeking additional benefits at no charge can go a long way toward improving your dealership as a whole – even

beyond strictly VSC performance. For instance, training is a major need at many dealerships, which is why GWC Elite Dealers get access to compliance and virtual training at no charge. GWC’s compliance training offers specific, dedicated F&I compliance training to help avoid costly fines and penalties while GWC Virtual Training offers a broader training approach, helpful for every employee in a dealership. These two benefits join a suite of perks for Elite Dealers, including concierge claims service, special Certified pricing, lead generation tools and more. So the next time a VSC provider comes knocking, ask a few more questions after price, eligibility and coverage. You might just find that value can come in a lot of shapes, sizes and benefits.

Deal Pack is an all-inone dealer management software that includes CRM, sales, leasing, finance, collections, and service/parts. Deal Pack offers an integrated general ledger system that is easy to understand. Made specifically for buyhere, pay-here used car dealerships and finance companies, Deal Pack’s realtime accounting produces financial statements instantly. Deal Pack’s integrated CRM eliminates re-entering credit apps, automates follow-up, and syncs collections data for AI equity mining.

Data exports are easy because your data is your data. Deal Pack’s digital document management with e-Signature allows documents to be saved to individual deals and stored on the cloud for effective retrieval and safekeeping. Deal Pack’s web-based design provides live back-ups and maximum security, eliminating hardware costs and compliance concerns.

United Auto Credit Puts You in the Fast Lane Established in 1996, United Auto Credit has grown to become a national leader in non-prime automotive finance. Our core business involves working with our franchised and independent dealer partners to provide reliable and affordable transportation to customers recovering from past credit problems, or to establish credit for first-time buyers. Our newest tool, “The Fast Lane,” is an exclusive website designed to put the dealer behind the wheel of the financing process. Offering instant approvals, live funding updates, and

the ability to rehash a deal, it is an invaluable tool the dealership cannot afford to be without. A common sense lending model, coupled with a strong technology base and an intense focus on our dealers, is what separates United Auto Credit from the competition. Contactustodayformoreinformation on becoming a dealer partner. https:// www.unitedautocredit.net/dealers/ dealers.aspx

CONFIDENCE IS

GOLDEN W i t h b e s t - i n - c l a s s s e r v i c e , G WC Wa r r a n t y ® h e l p s dealers sell more cars by giving car shoppers the confidence to become car buyers. BECAUSE A CONFIDENT DEALER GENERATES CONFIDENT BUYERS Start your partnership at GWCwarranty.com/Dealers or call 800.482.7357

Visit us at the 2017 NIADA Convention — Booth # 1604

FOR INDEPENDENT DEALERS

©2017 GWC Warranty is a registered trademark of GWC Warranty Corporation.


Out of Sight. Never Out of Touch. Meet The New GoldStar.

New User Experience | New Hardware | New Services Re-designed with you in mind, GoldStar is more than just a GPS tracking device. It’s the solution to help minimize your risk, make your job easier, and grow with confidence.

Discover what’s new from the industry’s leading GPS provider at spireon.com/NewGoldStar or call 855-867-2684 ©2017 Spireon, Inc. All Rights Reserved.


USED CAR NEWS

Special Advertising Section

May 1, 2017 • 17

Sellers Wanted Not everyone in the market for a new car can have perfect credit. In fact, 44% of Americans won’t qualify for prime financing. But that doesn’t mean that nearly half of Americans are forgoing the purchase of a new vehicle, quite the contrary in fact. Those car buyers are shopping around and as more traditionally prime lending institutions venture in the subprime space – competition is only going to get steeper. So whether you’re already doing subprime financing and are on the fence about going deeper or are considering doing business in the space for the first time – now is the time to establish your dealership as an ally to customers with imperfect credit. Before you take the plunge, consider these tips on expanding into the subprime market with confidence. 1. Let customers know they have options. Today’s car buyers are savvy, but it’s still easy to feel pigeonholed by your credit history. Make it known that your dealership recognizes there’s more to a customer than their credit score and can extend deals that account for each customer’s unique circumstance. 2. Get to know your customer. To treat your customers as more than their credit score you need to get to know them! The more information you have, the more certain you can be that the deal you’re extending is a win for both parties. The downside to this approach is that it can be more time consuming. The upside is, there is technology out there that makes even this more human approach to establishing loan qualifications quick and easy. Features like automated reference checks for example, check references without you or your staff ever having to pick up the phone. 3. Be proactive about risk. Even with proper vetting there is no getting around the fact that there’s additional risk involved with subprime deals. To minimize your exposure, you must be on the offensive and one of the best offensive plays on the market today is a GPS solution. With GPS, your protection starts the minute you install the device and give dealers visability into default predictors, real time vehicle location and the ability to make more cost effective recoveries when necessary. Why wait until your asset is at risk to start protecting it?

4. Be transparent with your customers. Compliance is a hot button issue in the auto finance industry. The last thing your business needs is a CFPB investigation. Disclosures are important. In fact, they are the key to making any subprime deal a win-win for both the dealer and the customer. The two key components to compliance are 1) making sure your customers are aware of your policies and procedures and 2) ensuring any business partners, from recovery agents to technology providers, operate with compliant business practices surrounding consumer privacy and data security regulations. 5. Stay in touch. The relationship you start with each customer doesn’t end when they drive off the lot. It’s only just beginning. For the duration of their loan you should stay in touch! Using an automated payment reminder is a fast and simple way to do just that. Payment reminders have been reported to reduce delinquencies by as much as 20%. This translates into more cash in your pocket as well as credit score improvement for your customers. Win-Win. 6. Have a back-up plan. Expanding into the subprime space isn’t going to be an effective growth strategy if your losses skyrocket. Dealers need to be prepared for the worst case scenario and equip themselves with the tools and resources required to quickly and effectively locate and recover their assets when a customer defaults on the loan. Auto ownership may not be for everyone, but it certainly is for more than just those with perfect credit. Don’t let fear and uncertainty prevent your business from growing. Explore the tools and technology available to support your business goals starting with GoldStar GPS – the most accessible and scalable GPS solution on the market empowering dealers to control their bottom line and increase profits with confidence. Plus, unlike other GPS providers, only GoldStar provides a platform that supports 3.75M+ active devices, with 1B data events per quarter and over 15 years of award-winning operational excellence.


Special Advertising Section

18 • May 1, 2017

USED CAR NEWS

Track Your Assets No Matter What Just as Superman is vulnerable to kryptonite, conventional GPS devices installed in your vehicles also have a weakness: loss of power. You need to be able to count on your GPS devices at all times, especially with your high-risk customers. A GPS device can lose power when the car battery fails or the customer tampers with the device. But now, thanks to its new top-of-the-line 3.5G COLLECT GPS device, IMETRIK has added several new features to ensure the device not only stays powered longer, but also provides you with reliable data to help you track your assets with conidence. “Our 3.5G COLLECT device packs in all our latest innovations and improvements. It isn’t your usual battery-backed device; it features premium industrial grade components to ensure maximum reliability in even the harshest environmental conditions. We are very proud to release it to the market. This is great news

for our customers,” says Bertrand Achard, IMETRIK’s Chief Hardware Engineer. The irst of these new “safety net” features is a non-lithium back-up battery – a powerful tool for keeping the 3.5G COLLECT GPS up and running. When the output from the car battery falls below a speciic threshold, or when the power is cut, the back-up battery kicks in automatically. It allows the GPS device to send an alert and to continue to operate for another 3 to 6 hours, so you can react appropriately. Conventional lithium-ion batteries are often used as back-up power sources, but their speciications do not allow for full use at high or low temperatures. This means that they are not well suited for automobiles which are often parked or driven in both very hot and extremely cold temperatures. Instead, IMETRIK has smartly opted for a 3-cell supercapacitor back-up battery, which has an operating temperature range from -4 degrees F to +185 degrees F,

providing you extra peace of mind by ensuring proper functioning of the back-up battery even in the harshest weather. The second set of features offered with IMETRIK’s 3.5G COLLECT device is a trio of “power notiications”: • The Power Low Alert notiies you when the car battery is almost drained and the vehicle may not be able to start, but the device can still be powered from it due to its exceptionally low power consumption. This alert is particularly useful in helping you manage your inventory of vehicles. • The Power Lost Alert notiies you when the car battery can no longer power the GPS device for whatever reason, and the device is now running on internal back-up power, • The Power Disconnect Alert tells you if the device is unplugged from the vehicle’s power supply, or if the device itself has been removed. A third feature that helps used car dealers keep better

track of their assets is a 13hour daily locate functionality. Instead of locating vehicles at the same time of day every day, the IMETRIK 3.5G COLLECT automatically locates the car every 13 hours, providing you with a more accurate picture of your customer’s driving habits. In the event of a repo, you will quickly learn all the locations where you are likely to ind the vehicle. Next, a Secure Disable feature allows the dealer to remotely disable the vehicle with greater peace of mind. This new safety-focused feature only processes the disable command when two speciic criteria are met: the device has suficient wireless network coverage, and the vehicle has been stationary for at least ive minutes. This virtually eliminates any risk of getting your cus-

tomer stranded by ensuring that you will be able to reenable the vehicle’s starter without dificulty. Finally, the 3.5G COLLECT also has all the bells and whistles found in other latest generation IMETRIK products such as an industry-leading highperformance GPS receiver and internal antennas, allowing for even more precise vehicle geolocation and making it a very good choice to safeguard your assets in the currently challenging auto inancing landscape. IMETRIK’s new 3.5G COLLECT device is compact, about the size of a business card, making it easy to install out-of-sight. To know more, call IMETRIK’s Customer Support at 1-866-276-5382, extension 5.


MOBILIZE YOUR BUYING POWER

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Download both apps at ADESA.com/mobileapps

5/1/17  
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