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December 18, 2017

www.usedcarnews.com

2017 MOVERS AND SHAKERS

Ernie Garcia III

Maura Healey

Ben Lange

The son of DriveTime’s founder, Garcia

The Massachusetts attorney general is one

Lange, the CEO of America’s Auto Auction,

made his own mark this year when he took

of those state regulators who saw an opportu-

more than doubled the size of his group with

Carvana Co. public in an initial ofering in

nity to step up her enforcement actions when

the purchase of Auction Broadcasting Co. in

April. The online used-car retailer now has

it looked like the federal agencies were going

March.

a presence in 41 markets. The irm recently

to take a light approach. Healey took actions

The move made America’s the third largest

raised another $100 million through a private

against inance companies and dealers. Her

auction chain in the United States with 20 lo-

placement of preferred stock.

suits attacked basics of subprime inance.

cations.

Wholesale Prices Remain Relatively Strong

Rush - Dated Material

The price boost of the hurricanes seems to have passed, but wholesale prices remain strong despite growing volumes. The Manheim Used Vehicle Value Index declined to 134.5 in November from 136.3 in October. This is the lowest level since August, but still represents a 7.8 percent increase from a year ago. On a year-over-year basis, all major market segments except midsize cars saw gains, Manheim reports. “Though wholesale market values saw strength in the spring and

summer as a result of growing retail demand, most of the gains since August were a result of the recovery following hurricanes Harvey, Irma and Maria,” said Cox Automotive chief economist Jonathan Smoke. “As has been the case with prior devastating storms, used vehicle prices are now returning to prestorm levels. “Underlying vehicle depreciation rates have been accelerating to catch up to where prices would have been without the abnormal demand and scarce supply in Septem-

ber and October.” The Manheim Index adjusts wholesale prices for mix, mileage and seasonality. The Black Book Used Vehicle Retention Index takes wholesale average values on two- to six-year-old used vehicles, as a percent of original typically equipped MSRP. It is weighted based on registration volume and adjusted for seasonality, vehicle age, mileage, and condition. That Index rose to 115 from 114.6 in October. “The continued strengthening of

the Index indicates 2017 has been a little stronger than expected for used cars and trucks, helped along the way by the hurricane replacement activity,” said Anil Goyal, senior vice president of automotive valuation and analytics for Black Book. “Any continued strengthening over the next few months will mean we’re getting an early jump at the oncoming tax spending season, when consumers use their checks to replace their vehicles in the spring.”


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USED CAR NEWS

December 18, 2017 • 3

Incentives Place Pressure on Used Car Residuals By Jeffrey Bellant

PALM SPRINGS, Calif. – Pressure continues to mount on used-car residuals as manufacturers push incentives on new-car sales. That was the consensus of a group of analysts who spoke during the recent National Auto Auction Association convention. “Our forecast for incentives continues to go up,” said Rene Abdalah of RVI Group. “It’s the highest level we’ve seen.” Eric Ibara of Kelley Blue Book said incentives are a real test to the industry in the long-term. “If the new-car sales are really plateauing, you would expect that manufacturers would start to pull back,” he said. “Incentive bubbles are already very high.” Morgan Hansen of ALG said the market is strong enough that there should be a retreat from incentives. However, the manufacturers want to grow market share at a rate faster than overall

growth. Abdalah said the quality among the automakers has evened out and the technology is all the same. This makes incentives the only way for the manufacturers to compete. Abdalah said continuing to raise incentives is unhealthy for the industry. Regionally, Abdalah sees efects of Hurricane Harvey on the market. “In the Texas market, where a lot of the vehicles essentially were damaged, the pickup incentives continued to increase,” said Abdalah, “yet we have a situation where used-car prices were up by 3.9 percent versus last year.” Ibara said values for sedans have been coming in weak for more than a year. He said those values are close to the bottom. “We do see CUVs are still very popular and strong, but they are going to come back in such volumes that we’re still going to be seeing some negativity (in those future prices),” he said. Abdalah agrees cars are

Photo by Jeffrey Bellant BAD TREND: Rene Abdalah, of RVI Group, discusses the dangers to vehicle values through increases in incentives during a panel discussion at a recent National Auto Auction Association event.

hitting the bottom, but “relative to the rest of the market, the subcompact, compact and midsize sedans are going to outperform the industry by 3 to 5 percentage points.” He sees a total market decline of roughly 10 percent, with the subcompact, compact and midsize sedans in the area of 7 percent.

“On the lip side, on the small SUVs, we’re seeing a 12 percent decline from today’s values,” Abdalah said. Ibara said because sedan segments are shrinking, oflease volumes in three years could be signiicantly less than what we are now seeing. The challenge for forecasters is that the volume is

shrinking and so is the demand. “So which one is going down more?” Ibara said. “That’s the really diicult thing to call.” Ibara said SUVs are going well, which will mean a jump in of-lease volume in three years, which may be higher than the demand at that time.


4 • December 18, 2017

USED CAR NEWS

NEWS BRIEFS MetroGistics Acquires Title Firm MetroGistics Holdings has acquired Metro Title Services, based in Lenexa, Kan. Along with the acquisition earlier this year of AmeriFleet, this latest development expands MetroGistics’ reach, market share, processing power and technology solutions for leet management companies and other clients. Metro Title Services employs 60 individuals in the greater Kansas City area. Metro Title Services works with more than 2,200 government licensing jurisdictions in the U.S. and Canada, and processes an average of 1,000 transactions daily, including titles and registrations, renewals, replacement credentials, repo/ bonded/salvage titles, corrections and refunds.

TCF Exits Indirect Auto Finance TCF Financial Corp. discontinued all indirect auto inance originations, efective Dec. 1. TCF will continue to service existing auto loans on its balance sheet and auto loans serviced for others. Concurrent with the discontinuation of indirect auto originations, TCF’s board of directors has approved the replacement of its previ-

ous share repurchase program with a new authorization to repurchase up to $150 million of TCF common stock. As a result of the decision to discontinue all indirect auto inance originations, TCF expects to recognize a one-time, after-tax charge in the fourth quarter of 2017. Actions to wind down operations that support indirect auto originations will begin immediately and the servicing operations will be adjusted over time to support business requirements, including the retention of the necessary staf. TCF entered the indirect auto inance market in 2011 with the purchase of Gateway One.

CarMax Invests in Repair Firm CarMax Inc. is expanding its commercial relationship with RepairPal, a provider of auto service and repair via a network of RepairPal Certiied shops. Additionally, CarMax has made a minority investment of $5 million as the lead in a new round of inancing for RepairPal. Through this partnership, CarMax will provide its customers access to the RepairPal Certiied shop network resulting in additional trusted,

quality and fair-priced service and repair locations. This investment follows several months of successfully partnering with RepairPal to ofer Los Angeles customers the convenience of more service options.

ALG Names Top Residual Value Performers ALG announced the winners of the 2018 Residual Value Awards, ranking Land Rover and Subaru as the top Premium Brand and Mainstream Brand, respectively. ALG’s Residual Value Awards (RVA) recognize vehicles in 26 segments that are forecast to retain the highest percentage of their manufacturer’s suggested retail price (MSRP) after a three-year period. This year’s recipients have shown strong value in their competitive segments, and were chosen from all 2018 model year vehicles on sale in the United States in the Premium and Mainstream segments. Land Rover took home the RVA for Premium brands for the fourth consecutive year. Yet again, the British utility brand won an award in all four segments in which the brand competes, with the Range Rover Sport, Range Rover, Discovery and Discovery

Sport winning the top spots. Subaru also earned the top Mainstream brand award for the third consecutive year by garnering wins in ive segments.

KAR Makes Major Donation KAR Auction Services Inc. announced its $250,000 commitment to City Life Wheels of Central Indiana – creating the new KAR Auction Services City Life Wheels Training Center. City Life Wheels, an Indianapolis-based non-proit, uses donated vehicles to teach near east-side Indianapolis youth basic auto maintenance and repair skills. ASE certiied professionals teach auto repair and serve as adult mentors modeling responsibility, safety and integrity while ofering career guidance and coaching. KAR will provide $25,000 of the grant in 2018.

PAGE 21

Published By General Media LLC USED CAR NEWS (ISSN 1555-7413) is published at 24114 Harper, St. Clair Shores, MI 48080 Phone: 586-772-5200 or 800-794-0760 Fax: 586-772-9400 www.usedcarnews.com Charles M. Thomas - Founder (1947-2002) Lynda R. Thomas, Publisher Colleen Fitzgerald, General Manager Editorial: Ted Craig, Managing Editor Jeffrey Bellant, Staff Writer Contributing Writers: Ed Fitzgerald, Jenny King, Sheila McGrath Advertising: Shannon Colby, Account Manager Marie Hingst, Account Manager

Columnist: Tony Moorby Circulation: Helen Thomas Production: Tom Savage, Production Manager Cee Lippens, Web Master & Graphic Designer

Vol. 23 • No. 18 Used Car News is published the irst and third Monday of each month. Subscribers: We print advertisements as sent to us by auctions and other advertisers. It is not possible to verify the correctness of listed vehicles in auction ads. Most lists are partial and all lists are subject to last minute changes by auto auctions, so before travelling a long distance for a particular auto auction event, contact the auction by telephone for a fax of vehicles in the sale. Used Car News assumes no guarantees or liabilities concerning the accuracy of any advertisements. All Rights Reserved.

Reproduction in any form is prohibited without the written consent of the publisher. OUR ADVERTISING APPROVAL POLICY Payments from irst time advertisers must accompany the insertion order. Distribution is guaranteed by the USPS. he advertising reservation deadline is 12:00 noon hursday, 11 days prior to the issue cover date. Ad materials are due by 5 pm Friday, 10 days prior to issue cover date. For advertising speciications please email colleen@usedcarnews.com.

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USED CAR NEWS

December 18, 2017 • 5

Manheim Salutes Exec

70 Years Can’t Be Wrong!

HORSE POWER: Grace Huang, left, president of Cox Automotive Inventory Solutions, presents the 2017 Community Impact Award to Heather Pullen, national remarketing manager for Porsche Cars North America.

Cox Automotive presented its 2017 Community Impact Award to Heather Pullen, national remarketing manager for Porsche Cars North America. This award, sponsored by Manheim, honors remarketing industry leaders for their outstanding contributions to the community and the innovative ways they collaborate with community partners to help further their missions. Grace Huang, president of Cox Automotive Inventory Solutions, presented Pullen with the award during the recent National Auto Auction Association convention. “Heather’s enthusiasm and passion for community service exempliies the spirit of the Cox Automotive Community Impact Award,” Huang said. “Community service is a guiding value for how Cox Automotive operates its businesses, and we congratulate Heather on her inspirational work.” Pullen is an avid polo player, and she and her husband, Randy Pullen, formed a charity in 2016 named Pony Up For A Cause. This charity

was designed to give back to local charities in the Atlanta area by raising money through an annual polo event produced by Pony Up For A Cause. Pony Up For A Cause partners with Atlanta Ronald McDonald House (ARMHC) to support its mission in the local community. ARMHC provides temporary housing and support services to families who travel far from home to get treatment for their children facing a medical crisis. Since its inception, Pony Up For A Cause has raised more than $30,000 for ARMHC. For her leadership and commitment to making a diference through community service, Pullen’s charity Pony Up For A Cause will receive a $10,000 donation from Cox Automotive to further its work in the Atlanta area. “Giving back to the community is simply part of the culture at Cox Automotive,” Pullen said. “It is a sincere honor to be recognized, and I am humbled by the generosity of Cox Automotive.”

Consumers Shop Online This holiday season consumers shopping for a new car or truck may be looking online more than ever. Nearly half of respondents to a recent survey by Chase Auto Finance said they would be comfortable completing their purchase online from research to inancing. The other half aren’t comfortable because they want to test-drive the vehicle before buying (76 percent)

and they don’t believe they can negotiate online (47 percent). Research from Chase also found that Americans still have a strong emotional connection to their vehicles and driving in general. They love or like driving (78 percent), see their vehicle as an extension of their personal style (67 percent) and say their vehicle is like a family member (56 percent).

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6 • December 18, 2017

USED CAR NEWS

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The highest-credit-tier consumers bought the most cars in the third quarter, while more subprime buyers sat on the sidelines, Experian reports. Prime consumers grabbed the lion’s share of the total finance market (40.9 percent) in the third quarter, while super-prime buyers showed the largest increase, reaching a 20.16 percent market share. Meanwhile, the number of consumers outside prime (with a score of 600 or below) notably decreased, hitting the lowest total finance market share since 2012. “For some time now, the story has been focused incorrectly on the rise in subprime lending,” said Melinda Zabritski, senior director of automotive finance for Experian. “But the data over the last several quarters has shown that the entire market is growing, not just subprime. “The market turning more prime is an encouraging trend. It indicates that industry professionals are using data and analytics as part of the lending process, and consumers are taking a more active role in managing their credit before buying a car.” Experian also found that loan terms for new vehicles extended, and credit quality for obtaining a loan on both new and used vehicles

notably improved. The average term for new vehicle loans hit an all-time high of 69 months. The average term for used vehicle loans was 64 months. Prime and super-prime buyers shifted to used vehicles, growing to make up 49.83 percent of the used car market. In comparison, the percent of buyers outside prime have decreased, making up only 31.34 percent of the market (only slightly above last quarter’s record low). Deep-subprime consumers, with a credit score of 500 or below, obtaining used vehicle loans dropped 9.2 percent to reach an all-time low of 4.64 percent of the market. The average amount financed for used vehicles reached $19,291, an increase of $56 over the previous year. Used vehicle payments averaged $365 per month, up $3 from the previous year. The average credit score for financing a used vehicle was 659. It was 620 for independent dealers and 682 for franchise dealers. The average financing interest rate for used vehicles was 8.7 percent. Credit unions and captive lenders increased market share of total vehicle financing. Banks lost market share of total vehicle financing.


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ADESA Washington DC January 10 703-996-1100

ADESA Charlotte January 4, 18 704-587-7653

Columbus Fair AA January 17, 24 614-497-2000

ADESA Chicago January 12 847-551-2151

Manheim Atlanta January 3, 4, 18, 31 404-762-9211

ADESA Cincinnati/Dayton January 16 937-746-4000

Manheim Dallas January 10, 24 877-860-1651

ADESA Golden Gate January 2, 16, 30 209-839-8000

Manheim Denver January 10 800-822-1177

ADESA Houston January 3, 17, 31 281-580-1800

Manheim Detroit January 4, 18 734-654-7100

ADESA Indianapolis January 2, 16, 30 800-925-1210

Manheim Fredericksburg January 11, 25 540-368-3400

ADESA Kansas City January 3, 16, 30 816-525-1100

Manheim Milwaukee January 10, 24 262-835-4436

ADESA Lexington January 25 859-263-5163

Manheim Minneapolis January 3, 31 763-425-7653

ADESA New Jersey January 4, 18 908-725-2200

Manheim Nashville January 17, 23, 24 877-386-5004

ADESA Salt Lake January 23 801-322-1234

Manheim New Jersey January 10, 24 609-298-3400

ADESA Tulsa January 12 918-437-9044

Manheim New Orleans January 24 985-643-2061

Manheim Orlando January 2, 9, 16, 23, 30 800-337-8491 Manheim Palm Beach January 24 561-790-1200 Manheim Pennsylvania January 4, 5, 18, 19 800-777-2053

ADESA Boston January 19 508-626-7000

Manheim Milwaukee January 10 262-835-4436

Manheim Pennsylvania January 4, 18 800-777-2053

Manheim Atlanta January 3, 31 404-762-9211

Manheim Nashville January 17 877-386-5004

Manheim Riverside January 11, 25 909-689-6000

Manheim Dallas January 10 877-860-1651

Manheim Palm Beach January 24 561-790-1200

Manheim Phoenix January 4, 11, 18, 25 623-907-7000 Manheim Pittsburgh January 10 724-452-5555 Manheim Riverside January 9, 11, 25 909-689-6000 Manheim Seattle January 3, 31 206-762-1600 Manheim Southern California January 4, 18 909-822-2261 Manheim Tampa January 4 800-622-7292 Southern AA January 10 860-292-7500

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Manheim Fredericksburg Manheim Pennsylvania January 11 January 5, 19 540-368-3400 800-777-2053

ADESA Houston January 3, 31 281-580-1800

Manheim Milwaukee January 24 262-835-4436

Manheim Pittsburgh January 10 724-452-5555

Columbus Fair AA January 24 614-497-2000

Manheim Nashville January 24 877-386-5004

Manheim Riverside January 9 909-689-6000

Manheim Atlanta January 4 404-762-9211

Manheim New Jersey January 10, 24 609-298-3400

Manheim Seattle January 3, 31 206-762-1600

Manheim Detroit January 18 734-654-7100

Manheim Orlando January 16 800-337-8491

Manheim Tampa January 4 800-622-7292

Subaru Motors Finance ADESA Boston January 26 508-626-7000

Manheim Fredericksburg Manheim Pittsburgh January 25 January 10 540-368-3400 724-452-5555

ADESA Salt Lake January 23 801-322-1234

Manheim Milwaukee January 10 262-835-4436

Manheim Seattle January 3, 31 206-762-1600

Columbus Fair AA January 17 614-497-2000

Manheim New Jersey January 24 609-298-3400

Manheim Southern CA January 18 909-822-2261

Manheim Dallas January 24 877-860-1651

Manheim Orlando January 9 800-337-8491

Southern AA January 10 860-292-7500

Manheim Detroit January 4 734-654-7100

Manheim Pennsylvania January 19 800-777-2053

Contact auctions directly for current sale information.

*The tradename “Subaru Motors Finance” and the Subaru logo are owned / licensed by Subaru of America, Inc. and are licensed to JPMorgan Chase Bank, N.A. (“Chase”). Retail/ Loan and lease accounts are owned by Chase. *The Jaguar word mark, the Jaguar logo, and Jaguar Financial Group are trademarks of Jaguar Land Rover Limited and any use by Chase is under license. The Land Rover word mark, the Land Rover and Oval logo, and Land Rover Financial Group are trademarks of Jaguar Land Rover Limited and any use by Chase is under license. Retail / Loan and lease accounts are owned by Chase. The tradename "Mazda Capital Services" as well as the Mazda and Mazda Capital Services logos are owned by Mazda Motor Corporation or its affiliates and are licensed to Chase. Retail / Loan and lease accounts are owned by Chase. ©2017 JPMorgan Chase Bank, N.A. Member FDIC (18-001) 1/18


8 • December 18, 2017

USED CAR NEWS

YEAR IN REVIEW 2017 PROVIDED PLENTY OF LEGISLATIVE FIGHTS The used-car industry was able to celebrate one big win this year and some smaller boosts amid a year of challenges. Buy-here, pay-here dealers, along with all other auto

inance providers, faced their worst fear this summer when the Consumer Financial Protection Bureau unveiled a rule that took away the ability of arbitration clauses to prevent classaction lawsuits. The U.S. House of Representatives moved quickly to squelch the new rule using the Congressional Review Act authority. The Senate Finance Committee also quickly passed a resolution using the same power. However, scandals at Wells Fargo (see Flop of the Year) and Equifax placed the Senate bill in jeopardy. Finally, Vice President Mike Pence broke a tie

vote in October to pass the bill. President Trump then signed it. CFPB Director Richard Cordray left his position shortly after that. His departure created chaos at the

agency when both he and Trump appointed acting directors. Many dealers and other industry members started the year with optimism that the new regime in D.C. would take a more businessfriendly approach. As the close vote on the arbitration ban shows, the reality proves more complicated. The situation is worse among state and even city regulators. For example, New Jersey passed a new law covering the use of payment assurance devices. The original version would have banned GPS-tracking usage in the state.

Across the river, the New York City Department of Consumer Afairs unveiled its Used Car Buyers’ Bill of Rights. The “bill” was mostly a collection of existing rules, but it signaled a focus on enforcement. In addition to sales and inance, recalls drew the attention of consumer advocates and legislators. Sen. Richard Blumenthal again called for legislation that would prevent dealers from selling vehicles with unrepaired recalls and Consumers for Auto Reliability and Safety again attacked CarMax. THE WAY IT WAS: This year, clockwise from top, auctions started to see a great influx of vehicles as more cars came off-lease, the National Independent Automobile Dealers Association once again lobbied Congress and Dave Andrews brought together the wholesale and retail side of the business as NIADA president.

FLOP OF THE YEAR: WELLS FARGO Wells Fargo was not the used-car industry’s best friend this year. First, the bank scaled back its auto inance operations, including commercial lending to buy-here, pay-here dealers. This added to the capital challenges for this segment. Then Wells Fargo announced a plan to pay back auto loan customers of Wells

Fargo Dealer Services who may have been inancially harmed due to issues related to auto collateral protection insurance policies. Wells Fargo reviewed policies placed between 2012 and 2017 and identiied approximately 570,000 customers who may have been impacted. Consumers will receive refunds and other payments as compensation. In total, ap-

proximately $64 million will be sent to customers in the coming months, along with $16 million of account adjustments, for a total of approximately $80 million in remediation. This raised questions about an insurance product many used-car dealers use. It also provided support for opponents of arbitration clauses in inance contracts.

NEXT ISSUE: FORECAST

COUP OF THE YEAR: AUTO TECH IPOS There were three online used-car businesses that made their debut on Wall Street this year: Carvana, Cars.com and CarGurus. Of the three, Carvana has done the best, more than doubling in price. Cars.com was spun of from media parent TEGNA. Traditional dealer groups have noticed all the attention these irms have been getting.

For example, CarMax Inc. recently started promoting in its press releases “CarMax customers can also request transfers of almost any vehicle to this store from other CarMax locations throughout the country.” Traditional auto irms have been seeking ways to partner with these start-ups. Ally Financial has been a major partner for Carvana.


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10 • December 18, 2017

USED CAR NEWS

Store Misleads Lessees Cowboy AG LLC, a Dallas company doing business as Cowboy Toyota and Cowboy Scion (Cowboy Toyota), has agreed to settle Federal Trade Commission charges that it deceptively advertised loan and leasing terms in ads placed in a regional Spanish-language newspaper. The FTC’s administrative complaint charges that Cowboy Toyota ran full-page Spanish-language ads claiming that consumers could buy or lease a vehicle at certain favorable terms that were prominently stated in Spanish in the ads, with material limitations to those terms provided only in ine-print English at the bottom of the ads. According to the FTC, Cowboy Toyota’s misrepresentation of the cost of purchasing or leasing cars, qualiications or restrictions for inancing or leasing cars, and the availability of cars violated the FTC Act. The dealership also failed to clearly and conspicuously disclose credit or lease terms they are required to state under the Truth in Lending Act (TILA) or the Consumer Leasing Act (CLA) when they touted certain “triggering” terms of the credit or lease, such as the monthly payment. The proposed order settling the FTC’s charges will ensure that Cowboy Toyota does not engage in the deceptive conduct alleged in the Commission’s complaint in the future. First, the order prohibits the dealership from misrepresenting the cost of inancing or buying a vehicle, including terms related to the amount or percentage of the total price needed for a down payment, the number of payments required over the full inancing term, and the amount of any payment or repayment obligation over the loan term, including any balloon payment. Next, the order prohibits Cowboy Toyota from misrepresenting the cost of leasing a vehicle, including

the total amount due at lease inception, the down payment required, the acquisition fee, any other payments required at the beginning of the lease, and the amount of all monthly payments over the term of the lease. The order also requires the dealership to accurately represent any qualiications or restrictions on a consumer’s ability to obtain ofered inancing or lease terms, including restrictions based on their credit history. The order requires Cowboy Toyota to clearly and conspicuously disclose all inancing and lease terms in its ads, as well as all related qualiications or restrictions. In addition, if most consumers likely will not qualify for the credit rate advertised, the order requires the dealership to clearly and conspicuously disclose that fact. It also requires that if a representation is made in one language, any material limitations must also be made in the same language. The order next prohibits Cowboy Toyota from misrepresenting the number of vehicles, makes, or models that are available for purchase or lease, and bars them from violating TILA and its implementing Regulation Z by requiring clear and conspicuous disclosures regarding a variety of purchase or lease terms, including the percentage of any down payment required, the amount of any payment, the amount of any inance charge, the terms of loan repayment and the annual percentage rate (APR) associated with a loan. Finally, the order requires Cowboy Toyota to comply with the CLA and its implementing Regulation M by prohibiting deceptive lease advertisements and requiring that all ads clearly and conspicuously disclose a range of facts, including that the advertised deal is a lease, the total amount due on delivery, the number and timing of scheduled payments, and whether or not a security deposit is required.

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USED CAR NEWS

December 18, 2017 • 11

Recalls Come in Green looking for a

ONE STOP SHOP to fund your dealership needs?

Green was a popular shade for recent recalls. BMW of North America LLC is recalling 32,000 2014-18 BMW i3 electric and hybrid electric vehicles. Unbelted, small adult drivers may be at a higher risk of neck injury in the event of a frontal crash. These vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard (FMVSS) number 208, “Occupant Crash Protection.” BMW will notify owners. The remedy for this recall is still under development. The recall is expected to begin Jan. 8. Toyota Motor Engineering & Manufacturing is recalling 39,915 2012-15 Prius Plug-in Hybrid vehicles. The hybrid battery contains a fuse that may fracture after repeated high-load driving conditions such as climbing long hills. Toyota will notify owners, and dealers will replace the EV fuse, free of charge. The recall is expected to begin Jan. 8. Toyota’s number for this recall is H0R. One of the biggest recent recalls came from American Honda Motor Co., which is recalling 806,936 201117 Honda Odyssey vehicles. The second row outboard seats can slide sideways to one of two positions. If a seat is placed between

either of the two positions when attaching the seat to the vehicle floor, the seat will not latch properly to the seat striker, allowing the seat to tip forward unexpectedly during braking. The remedy for this recall is still under development. Honda will notify owners of the safety risk in an interim notification and provide detailed instructions for installing/ positioning the second row outer seats and confirming that they are securely latched. Once a final remedy is determined and the necessary parts are available, Honda will send a second letter to owners to have them visit a dealer to have the condition remedied, free of charge. The interim notification is expected to begin today (Dec. 18). Honda’s number for this recall is S0G. At the other end of the size spectrum, Daimler Vans USA LLC (DVUSA) is recalling two 2016 Mercedes-Benz Sprinter 2500 and 3500 vehicles. The label on the B-pillar may state a higher maximum vehicle load capacity than the vehicle is designed for. As such, these vehicles fail to comply with the requirements of 49 CFR Part 567, “Certification.” DVUSA will notify owners, and dealers will check the label and replace it if necessary, free of charge. The manufacturer has not yet provided a notification schedule.

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14 • December 18, 2017

USED CAR NEWS

Store Underpays Techs REMARKETING ARTIST OR SCIENTIST?

New Jersey-based Chas. S. Winner Inc., doing business as Winner Ford of Cherry Hill and Winner Ford, will pay $150,000 and furnish signiicant equitable relief to settle a federal pay discrimination lawsuit iled by the U.S. Equal Employment Opportunity Commission (EEOC). The EEOC charged that since 2010, Winner Ford paid its Chinese emergency and accessory installation (EAI) technicians a lower starting wage and hourly wage than non-Chinese EAI technicians at its Cherry Hill location. Winner Ford paid starting Chinese EAI technicians up to $3 less per hour than non-Chinese EAI Technicians, even though they did the same work and some of the non-Chinese technicians had less or no relevant experience. The EEOC said that when a Chinese EAI technician complained about the wage disparity, he was

reprimanded and told that if he sought legal advice, he would be out of a job. The EEOC iled suit after irst attempting to reach a pre-litigation settlement through its conciliation process. In addition to the $150,000 in lost wages and other damages to the class members, the three-year consent decree prohibits Winner Ford from discriminating based on national origin, including in compensation, or engaging in retaliation. Winner Ford will implement and disseminate an anti-discrimination policy to all employees, applicants and new hires. Winner Ford will also provide training on federal EEO laws to all managers and employees involved in setting wages or handling discrimination complaints. It will also post a notice regarding the settlement.

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KANSAS CITY, Mo. (AP) – Tesla Inc. can continue to sell its electric cars directly to consumers in Missouri after a state appeals court reversed a lower court ruling that favored a trade group representing car dealers. The Missouri Automobile Association sued the state Department of Revenue in 2015, arguing that the agency violated state law by granting licenses allowing Tesla to sell cars directly to customers instead of through a dealership. A three-judge panel of the Missouri Court of Appeals recently ruled that the car dealers association did not have standing to sue the state agency, reversing a lower court’s ruling, the St. Louis PostDispatch reported . “The decision (Tuesday) is a victory for Missouri consumers who want the choice to learn about and purchase their Tesla in their home state,’’ Tesla said in a statement. For Cars, Trucks and Vans

“We have been serving customers in Missouri for almost ive years and have contributed to the state economy and jobs for Missourians – something that will now continue.’’ The ruling followed a decision by Cole County Judge Daniel Green last year that the Revenue Department should not renew Telsa’s motor vehicle dealer licenses because the California-based carmaker is not a franchisee. After that ruling, Tesla temporarily closed its oices in Kansas City and the St. Louis suburb of University City but reopened them with court approval to operate during the appeals process. Tesla had argued the lawsuit was an attempt to decrease competition and limit consumer choice in Missouri. The dealers association argued that even if it did not have standing, the state doesn’t have a method to challenge the Revenue Department’s issuance of licenses.

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USED CAR NEWS

December 18, 2017 • 15

PEOPLE IN THE NEWS ADESA Taps General Manager

leadership positions. He served as general Allan Wilwayco has manager of Manheim been appointed gen- Orlando for six years eral manager at ADESA and as vice president of digital operations for Dallas. Manheim Digital Marketplace.

Western Funding Names President

ALLAN WILWAYCO In his new role, Wilwayco will lead the day-to-day business operations of one of the largest ADESA sale facilities in the country. Wilwayco has nearly three decades of experience in various areas of the auto auction industry, from inance to business development, while holding several

Western Funding Inc. recently named Jim Murray as its new president. In this role, Murray will oversee all aspects of Western Funding’s sales, servicing and operations. He will focus on implementing strategic and compliant operational eiciencies and to drive growth. Murray comes to Western Funding with nearly 20 years of specialty inance experience in both the consumer auto and commercial small business lending sectors.

AiM Names CEO Steve Lambert has been named president and CEO at Alliance Inspection Management (AiM). Lambert took oice in Long Beach, Calif., on Dec. 4. Lambert joins AiM from Nissan North America Inc., where he served as vice president of information systems, overseeing all of Nissan’s information systems and services across the Americas. At Nissan, he was also president, Nissan Motor Acceptance Corp. (NMAC) and responsible for all sales inance activity in North America, which included the oversight of Nissan Canada Finance and start-up Nissan Renault Finance Mexico. Previously, Lambert served on AiM’s board of directors from 2005 to 2010. Lambert holds a

Marketplace, following the recent promotion of Grace Huang to president of the Inventory Solutions Group. In this newly titled role, Brennan leads auction and digital operations for Inventory Solutions. Brennan most recently served as senior vice president of Logistics Solutions for Cox Automotive, improving the eiciency and client experience of Ready Logistics and Central Dispatch. Prior to that, he held positions of increasing responsibility with Cox Automotive and performed in operational and inance leadership roles for Manheim. Brennan reports to Huang. Cox Automotive is seeking a replacement for the senior vice president of Logistics Solutions. Cox Automotive named Mark F. Bowser,

bachelor’s degree in chemical engineering from Brigham Young University and an MBA from BYU’s Marriott Graduate School of Management.

Cox Automotive Promotes Execs Cox Automotive recently announced that it illed a pair of executive positions. The company named

PATRICK BRENNAN Patrick Brennan as senior vice president of Inventory Solutions,

MARK BOWSER executive vice president and chief inancial oicer. Bowser will assume leadership of the Finance and Strategy teams, as well as several corporate functions. In addition, Bowser will have responsibility for NextGear Capital. Over his 30-year career, Bowser has been responsible for a portfolio of diverse strategic areas including inance, operations, sales, marketing and business development for several companies.

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16 • December 18, 2017

USED CAR NEWS

RETAIL MARKETS FLORIDA Kathy Renee, principal owner, Kathy’s Kars, St. Petersburg, Fla.: “We’re starting our sixth year. Inventory is low right now (early December). We have about 60. We typically have 75 or more. “We sell about 25 per month this time of the year. “We (acquire) a lot at the auctions. Primarily, we use Manheim or Your Auto Auction of Tampa Bay. There are also closed bid sales that we go to. We like those. Sometimes we buy of the street. We also get trade-ins. “We do all of it. We have some buy-here, pay-here, about 15 percent. About 35 percent are cash deals. We deinitely do subprime. There are a lot of good, local lenders that we use for that. We have 25 percent credit union deals and 25 percent from secondary lenders. “Our typical buy-here, pay-here customer has quite a lot of cash and can pay out pretty quickly. Typically, we don’t use starter-interrupts

or GPS – maybe for unusual circumstances. “The majority of our cars are 10-12 years old. Our average mileage is 45,000 to 120,000. But we sell a lot of trucks, and they tend to have higher mileage. “It’s always a challenge to ind these cars. We also look for clean Carfaxes. We look for Florida cars. “But we also want vehicles that people can aford. So sometimes those are a little bit older or sometimes there’s a few more miles than we would like. “Average retail price is about $10,000 to $12,000. “We have a real blend of domestics and imports. We really just want to have something that someone else doesn’t have. “We always look for good trucks. Good trucks are good sellers. We also have some SUVs and they are popular. Although we have a few regular sedans, our cars are mostly roadsters or unique cars. “Average reconditioning

costs are about $250. We have our own service department. It’s pretty new for us. We plan to expand next year. “We use CarGurus, Cars. com and we’ve been on AutoTrader and Carfax. We have Wayne Reaves as our data management irm, so they will push our feed out to multiple sites. We use Craigslist and Ofer Up. We’re doing more with Facebook and Google. “We sold a 2009 Cadillac SRX – a beautiful car. It had 71,000 miles and sold for $13,000. “I feel pretty good about next year.”

OHIO Scott Shook, vice president, Shook Auto, New Philadelphia, Ohio: “We’ve been in business 39 years. My father started it in August 1978. “We have one location. I had a second for about 10 years up until last year. We consolidated. “We have about 150 in

Compiled by Jeffrey Bellant stock. That’s typical for this time of the year. I think in November we sold right around 50. We’re up from this time last year. “We’re seeing a better quality of customer this year, so that’s good. “For years, about 95 percent of our inventory was bought online. I bought almost everything online for the past 10 years. But you have to be careful. “Things change and they can take advantage of you online now. So I’ve been physically back in the lanes now for about the past ive months. “We have a related inance company. We used to have 50 to 60 percent buy-here, pay-here. Now it’s about 10 percent. Subprime is probably 30 percent., I’ve seen an uptick in regular prime deals. “The average retail price here is $10,000 to $15,000. “Typically, we like to have model years 2010 and newer, with less than 100,000 miles. That’s the struggle,

which is why I’m back at the physical sales. If I have to pay all the money for the stuf, then I want to put my hands on it. “We sell a ton of trucks. Then again, we sell a lot of leet cars, too. So we’ll sell three-year-old Tauruses and Impalas. “We’re selling a lot of trucks right now, but it’s seasonal. It’s supply and demand. “Reconditioning costs are about $800. That’s down from last year. We’ve just been buying smarter. “We’re looking to expand service. We just interviewed another technician and we’re adding another bay. “We use Cars.com, Autotrader, CarGurus, Carsforsale and TrueCar. We’re also pushing the Drive It Now program. “I just sold a 2012 Nissan Murano. It had 51,000 miles. I got $15,900. “We’re very enthusiastic about 2018. We think it’s going to be a very good year for us.”

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18 • December 18, 2017

USED CAR NEWS

WHOLESALE MARKETS PENNSYLVANIA Kristi Kohl, general manager, Garden Spot Auto Auction, Ephrata, Pa.: “We’ve been in business 53 years. “We have ive lanes and we’re currently running about 500 a week. We are down about 100 cars from this time last year. “We were at 85 percent at our (Nov. 28) sale. We average 81 percent for the year. “We also run 10 to 18 inops a week. That’s just a convenience for our customers. “We’re drawing about 300 bidders per week. That’s a little bit down from this time last year. “From dealers and from what we’re seeing, it’s the leases that are afecting our inventory. (Consumers) can go out and get a lease for $199 per month on a brand new vehicle and they’re not trading in when they lease a vehicle. They are just turning in their old lease. Franchise dealers are also hold-

ing on to their trades. “Our volumes are 100-percent dealer consignment. We’re proud of that percentage. “We use Edge Pipeline. I’m very pleased with how that is progressing for us. We are selling quite a bit online, more than we anticipated. We started online only about a year ago. For the past year, I’d say we’re at 3 percent that we sell online. We’re pleased with how it’s going. “Our average price is $3,100. Actually, that’s up a little bit from last year. “Trucks do very well here. “Moving into 2018 I’m hoping business picks up deinitely. I’d like to see more volume in our inventory. “We don’t see anything in the local economy (that’s doing badly). “(In terms of dealers stocking for tax season) we hear from everyone that it’s just hard to get cars out there. They’re just not out there. I heard some guys

also saying that they are not holding cars back (for tax season) like they’ve done in previous years. “We just want to continue being here for our customers and doing everything we can for them. They are family to us.”

VERMONT Shawn Camara, owner, Yorkmont Auto Auction, Fair Haven, Vt.: “This April will be four years (that we’ve been in business). “We have two lanes and we’re running both. “On average we run 150 a sale. “Right now, sales percentage is close to 50 percent. “I think that, like everybody else, I wanted to see more cars come in this year. I was told by a couple of different people that if we had 150 cars per sale this year, last year we should have had 300 cars. It should have been that big of a diference. We’re all getting less and less consignment.

“About 99 percent of our volume is dealer consignment. Those are mostly from new-car dealers. “To me, I think the big difference between three and four years ago and today is there used to be more (independent-dealer) trades and now they are more new-car trades. “So it may be like baby steps, but we seem to get a little better every week. I’ve had a couple of people say to me that ‘we’d thought you’d be a lot bigger than this.’ But I’ve talked to people who started our 20 or 30 years ago and when I tell them where we are at, they’re like, ‘You’re hitting a home run.’ “I think now it’s slow for dealers. In the past during this time of the year, we’d get one decent week and the next would be soft, one decent week and the next would be soft. But our sales over the past three or four weeks (have been above average). We recently had 25 percent more bidders at

Compiled by Jeffrey Bellant a sale. I don’t know what’s happening, but I’m not (complaining). “We use Pipeline online. We have a ‘Prime Tuesday’ sale every month, which are cars at $10,000 or higher. We’re seeing a (boost) from that. “We also have something we call the Yorkmont Exchange Sales System. It’s unique and we’re working on it with an auction out West, the only two auctions that use it. It allows customers to turn older inventory into sales online. We can push those sales to OVE, SmartAuction and ADESA with the push of a button. “Our average sale price is $4,200. We’re about $1,000 higher than last year. “A full-size pickup with four wheels and four full doors are really strong. If it had a cab-and-a-half or a regular cab a year or two years ago, they were hot. “I’m feeling good and conident going into next year – and that scares me.”


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ACTUAL WHOLESALE AND PROJECTED RESIDUAL VALUES DECEMBER 2017

SOURCE: BLACK BOOK

2012 MODELS

2014 MODELS Recorded Figures

Recorded Figures

Projected Figures

Projected Figures

DOMESTIC CARS Buick LaCrosse 4D Sedan 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 Lincoln MKS 4D Sedan

Dec ‘16 10,100 13,800 5,450 6,100 6,150 9,850 5,150 9,400 9,250 12,100

Jun ‘17 9,550 12,600 5,250 6,000 5,650 9,450 4,900 8,950 8,700 10,700

Dec ‘17 8,500 11,000 4,500 5,050 4,600 8,500 4,300 8,300 7,750 8,900

Dec ‘18 7,575 9,050 3,750 4,375 3,900 7,350 3,650 7,025 6,475 8,075

Dec ‘19 6,650 7,700 3,200 3,800 3,175 6,450 3,075 5,950 5,600 7,300

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

Dec ‘16 15,350 27,700 7,850 13,000 8,600 13,700 7,650 12,400 13,000 17,250

Jun ‘17 14,450 25,350 7,600 12,400 8,300 13,250 7,550 12,850 12,650 15,700

Dec ‘17 13,800 22,600 6,450 11,300 7,350 12,900 6,700 11,150 11,450 14,650

Dec ‘18 11,875 19,125 5,400 9,650 6,025 10,650 5,475 9,550 9,525 12,400

Dec ‘19 10,150 16,150 4,500 8,025 4,925 9,000 4,500 8,100 8,000 10,875

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 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

Dec ‘16 13,150 12,900 24,000 8,300 7,000 15,000 16,900 4,700 6,550 6,950 4,950 8,500 6,500 7,775

Jun ‘17 11,100 11,500 19,750 7,800 6,300 13,400 14,500 4,150 6,150 6,550 4,600 7,750 6,500 7,525

Dec ‘17 10,600 10,750 17,450 7,050 5,500 12,400 13,250 3,800 4,700 5,100 3,900 7,150 6,050 6,675

Dec ‘18 8,600 8,925 13,350 6,150 5,000 10,375 10,450 3,300 4,225 4,575 3,750 6,225 5,300 5,775

Dec ‘19 7,050 7,325 10,475 5,325 4,450 8,675 8,450 2,850 3,725 4,050 3,400 5,525 4,750 4,875

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 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

Dec ‘16 18,400 17,700 42,250 12,550 9,950 21,700 24,300 6,750 9,700 10,800 8,200 10,950 10,450 12,800

Jun ‘17 15,550 16,350 34,250 11,350 9,550 20,300 23,300 6,050 9,300 10,650 7,900 10,900 10,000 11,750

Dec ‘17 14,700 14,750 29,250 10,250 8,750 18,400 22,100 6,000 8,450 10,000 7,350 9,750 9,450 9,500

Dec ‘18 11,950 11,700 22,775 9,050 7,475 15,100 17,200 4,825 7,250 8,550 6,450 8,500 8,075 8,175

Dec ‘19 9,800 9,675 17,900 7,825 6,400 12,525 13,775 4,050 6,150 7,250 5,525 7,350 7,050 7,025

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

Dec ‘16 15,100 27,500 16,400 8,800 17,000 19,000 7,800 11,600 9,650 15,400 14,300 12,800 11,250 10,750 19,050 15,300 24,500 8,750 15,000 16,200 21,750 19,775

Jun ‘17 13,000 25,800 15,100 7,650 16,200 16,200 7,100 10,700 8,750 14,000 13,400 11,300 10,850 10,100 17,200 15,150 23,400 7,850 12,650 14,500 21,950 19,175

Dec ‘17 11,700 24,000 13,450 6,900 14,800 16,200 6,300 9,800 7,300 13,600 12,500 10,400 10,450 8,850 15,300 13,650 22,400 7,300 11,900 14,200 20,700 18,075

Dec ‘18 10,550 20,275 11,250 5,800 13,700 14,025 5,400 8,750 6,375 11,550 10,900 9,100 9,350 8,100 13,825 11,700 21,200 5,825 10,600 12,700 18,075 16,475

Dec ‘19 9,400 17,575 9,700 4,875 12,475 12,125 4,400 7,750 5,475 10,325 10,025 8,175 8,400 7,100 12,300 10,150 19,950 5,050 9,375 11,800 15,650 15,425

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

Dec ‘16 23,400 35,950 22,750 11,600 26,000 27,500 12,100 17,850 12,950 22,000 20,200 19,100 14,600 16,750 26,550 19,350 28,000 12,300 20,075 21,500 25,400 22,700

Jun ‘17 21,750 34,500 21,450 10,900 26,400 26,700 11,600 17,100 12,600 21,600 20,000 18,000 13,150 15,350 24,250 18,600 27,250 11,500 18,525 20,600 26,450 22,650

Dec ‘17 19,300 31,000 19,200 10,250 25,500 24,300 10,600 15,050 12,300 19,900 18,800 18,000 13,000 13,950 22,250 17,550 26,700 10,250 17,725 20,800 24,650 21,200

Dec ‘18 16,275 26,575 16,100 8,325 22,825 21,225 8,400 12,975 10,350 17,125 16,100 15,400 11,575 12,325 19,700 15,400 24,375 8,550 14,850 18,450 22,125 19,400

Dec ‘19 13,775 23,250 13,925 7,075 20,775 18,100 6,775 11,100 8,650 14,675 14,250 13,350 10,475 10,500 17,275 13,175 22,850 7,300 12,825 16,750 19,300 18,175

#s

2013 MODELS

2015 MODELS Recorded Figures

Recorded Figures

Projected Figures

Projected Figures

DOMESTIC CARS Buick LaCrosse 4D Sedan 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 Lincoln MKS 4D Sedan

Dec ‘16 13,650 17,000 6,900 7,700 7,550 12,800 6,600 10,900 11,250 14,950

Jun ‘17 11,750 15,800 6,250 7,450 7,250 11,700 5,950 11,100 11,100 13,650

Dec ‘17 9,850 13,700 5,400 6,150 6,100 10,950 5,100 9,700 9,450 11,650

Dec ‘18 8,950 11,275 4,425 5,225 5,075 9,275 4,350 8,225 7,925 10,125

Dec ‘19 7,825 9,475 3,775 4,500 4,100 8,000 3,650 6,975 6,700 9,075

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

Dec ‘16 16,200 26,400 9,500 14,400 15,150 20,450 9,450 15,750 15,000 20,000

Jun ‘17 15,700 23,800 8,950 13,300 14,450 19,200 8,900 15,400 14,350 18,800

Dec ‘17 15,250 20,750 7,700 12,400 13,500 18,350 8,200 13,250 13,650 17,650

Dec ‘18 13,225 17,675 6,475 10,625 10,875 15,350 6,625 11,950 11,200 15,100

Dec ‘19 11,400 15,200 5,475 8,975 8,975 13,025 5,425 10,350 9,400 13,050

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 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

Dec ‘16 15,450 15,250 32,500 11,050 8,700 19,350 19,500 5,900 8,550 9,700 7,250 9,700 8,250 10,600

Jun ‘17 12,250 13,750 26,750 10,100 8,000 17,950 17,900 5,250 8,100 9,250 6,500 9,150 7,300 9,550

Dec ‘17 11,900 12,250 23,500 9,050 7,050 16,050 16,300 4,750 7,000 7,850 5,300 8,150 6,850 7,550

Dec ‘18 9,725 9,925 17,800 7,950 6,275 13,225 12,975 4,025 6,025 6,825 5,050 7,100 6,150 6,450

Dec ‘19 7,975 8,250 13,950 6,850 5,450 11,000 10,425 3,400 5,150 5,900 4,450 6,250 5,500 5,600

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

Dec ‘16 21,300 20,000 53,500 14,550 11,200 25,300 30,000 8,550 11,050 12,550 9,650 13,050 11,050 14,200

Jun ‘17 18,950 19,000 45,250 13,450 10,850 24,600 29,000 8,100 10,900 13,250 8,900 12,250 10,850 13,350

Dec ‘17 16,850 17,750 36,250 11,850 10,250 21,900 26,600 7,100 9,750 11,800 8,200 11,500 10,450 11,700

Dec ‘18 14,150 13,850 28,500 10,525 8,850 18,325 21,500 5,850 8,475 10,375 7,225 10,000 8,950 9,825

Dec ‘19 12,000 11,500 22,650 9,125 7,650 14,975 17,350 4,900 7,175 8,750 6,175 8,725 7,825 8,300

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

Dec ‘16 19,650 33,850 20,400 10,650 19,600 25,500 10,200 15,950 13,300 19,900 18,500 17,400 13,150 13,400 23,000 18,250 26,650 11,050 18,100 19,300 24,200 21,750

Jun ‘17 15,600 30,000 18,450 10,150 19,000 23,300 9,600 14,550 11,950 17,600 17,200 15,500 11,950 12,150 20,650 17,850 24,950 10,000 16,350 17,800 25,150 21,400

Dec ‘17 14,300 27,700 16,900 9,000 17,000 19,200 8,100 12,300 10,650 15,400 15,800 13,000 11,500 10,900 19,000 15,500 24,150 8,750 14,900 17,000 23,450 20,600

Dec ‘18 12,600 23,225 13,600 7,375 15,400 17,250 6,675 11,200 9,050 13,500 13,325 11,825 10,325 9,750 16,825 13,700 22,950 7,400 12,875 15,375 20,450 18,625

Dec ‘19 11,025 20,100 11,600 6,175 14,025 14,800 5,475 9,725 7,700 11,900 11,900 10,450 9,325 8,475 14,800 11,750 21,725 6,350 11,200 14,100 17,575 17,300

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

Dec ‘16 26,250 50,900 27,600 13,550 28,200 34,000 13,600 20,250 15,200 25,200 23,000 20,200 16,350 19,950 28,800 22,100 29,650 13,550 26,500 23,500 28,800 23,800

Jun ‘17 24,450 50,100 25,150 12,300 28,700 34,100 13,700 19,850 14,400 24,000 22,300 19,600 15,150 17,950 27,100 22,300 29,000 12,850 25,200 23,500 27,900 23,850

Dec ‘17 23,350 43,800 22,150 11,200 27,300 31,800 12,500 19,400 13,800 23,000 20,500 20,500 14,950 15,800 24,800 20,950 28,150 11,600 24,400 22,500 26,700 22,300

Dec ‘18 19,500 38,075 19,175 9,500 24,350 27,900 10,225 16,225 11,800 19,600 18,750 17,475 13,300 14,000 22,125 18,350 25,675 9,800 20,275 20,575 24,125 20,250

Dec ‘19 16,550 33,350 16,600 8,150 22,425 24,125 8,450 13,875 10,000 16,750 17,025 15,375 12,050 12,000 19,550 15,900 24,050 8,500 17,300 18,675 21,375 18,800


USED CAR NEWS

December 18, 2017 • 21

DISCONNECTED JOTTINGS FROM I can’t imagine anyone wanting to go into the retail business today. If the malls are lucky enough to be crowded, they’re giving the

TONY MOORBY

all men, manners seem to take a back seat starting in the parking lot – people take pleasure in reversing out of a spot before ascertaining

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

merchandise away at deeply discounted prices. Black Friday seems to be have been included in pricing strategies for the rest of the year. BOGO deals are all over the place and I see menswear deals as cheaply as 70 percent of. I think, as members of the public, we now expect prices to be so attractive in order to lure us into the physical environment of shopping. I now dislike it immensely. In a season of goodwill to

whether it’s safe to do so if you’re in another car or just walking behind. And inside is no diferent. It’s closer to a rugby scrum than shopping. The stores seem to save on margins by saving on staf because when you’ve inally gathered all your purchases to your chest you stand like an imbecile looking for someone to pay and beat a hasty retreat. It’s little wonder that doing it all from your living room, at the touch of a but-

ton is now so appealing – feet up, adult beverage by your elbow and go wherever you’d like with no impediment to progress. Not very ‘Christmassy’, I’ll admit – the fat man can come down our chimney empty-handed, as everything has been delivered previously in brown boxes with a blue smile. Even our grandson is under no illusions anymore as he pooh-poohs the very idea of Santa and The Elf on the Shelf – he wrote an article for his grade’s newspaper (surprise, surprise) taking an almost mathematical approach to disprove his existence. Cookies and milk consumed from millions of houses equal suicient calories to obviate the chance of negotiating chimneys and time taken per visit to each roof of said millions of houses would take a year, not a night. Fortunately, my grandson still enjoys the feeling of the house being decorated for Christmas so there’s still a twinkle of anticipation in his eyes.

The speed of his growing up mirrors the comfort with which he accepts new things and ideas. It takes me a little while longer as I look at the changing face of our industry. One always looks at it from the framework of our own experiences and pace of change. When you start listening to new users of anything to do with transportation, the necessity of personally buying a car gets more and more remote – especially for city dwellers. Getting around in New York or London is as easy as the nearest bus stop or subway, cabs or Uber. New users are more interested in lexible utility than pride of ownership of some sexy new model in the driveway and manufacturers are spending fortunes on mapping out where, how and when this new audience of consumers will exert their marketing preferences. Meanwhile, dealers are looking at newer and newer ways to reach potential buyers using data to predict who and how and what they’ll buy. The bigger group com-

Digital version available at usedcarnews.com

C R O S S WO R D By Myles Mellor

Across 1. Ford’s environmentally friendly SUV 5. Pony car first introduced in 1966 10. Mazda small family car, aka 323 11. Kia model 13. Owing 14. Car maker that produced military jeeps and civilian overland vehicles 17. Ford crossover 19. Light brown 20. When doubled, a Pacific capital 22. Suit’s companion 23. A middle name of Ferdinand Porsche 25. Amazed 26. Like the corvette in a Prince song

28. Blackwood and Navigator, e.g. 30. Golden state, abbr. 31. Greetings 32. Accord maker 34. Executive car from Kia 35. Midsize Pontiac 39. Web location 41. ___room 42. Pro drivers 44. E-mail subject line intro 46. Lithium-ion, for example 47. Four door Down 1. Full-size SUV from Ford 2. Used car salesman concern

panies are teaming up with technology companies to keep abreast of the marketing curve. Fleet companies are rethinking strategies left and right, extending the “lexible leet” mentality to diferently thinking customers. And used-car dealers will have to be as agile in dealing with the shifts seen around them. It behooves their associations to not only keep them informed, but also perhaps help to develop national technologies to stay ahead. Even the buy-here, pay-here community, already under stress from the likes of the CFPB, may have to become the ‘use-here, pay-here’ suppliers. Maybe Santa will use an autonomously driven sleigh or drop presents down chimneys from drones. Rudolf and his deer friends can be put out to grass and the elves will build to pre-order. In any event I wish all our readers a safe and Merry Christmas and a prosperous New Year to come.

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3. Not new 4. Way to go, abbr. 6. Saturn or Mercury 7. Purpose 8. Above 9. Type of car inspired by the 1964 Mustang 12. Whiplash preventer 15. Italian carmaker whose first car was the Tipo 51 16. Spanish, for short 17. Vanity 18. Changed from 4th to 3rd, say 21. __, shucks! 24. Toyota pick-up 27. Lotus car 29. Freeway dividers 30. Chevy 4 door 33. Caravan maker 35. Shoot the breeze 36. Bottom line

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Solution to this puzzle in the 12/18/17 issue. Call 1.800.794.0760 for a FREE subscription.

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Solution to the 12/4/2017 puzzle


22 • December 18, 2017

USED CAR NEWS

AROUND THE BLOCK

Compiled by Jeffrey Bellant

CAMPAIGN SUPPORTS CANCER RESEARCH Auction Turns Pink, Raises Awareness

fiddle. Other prizes were a weeklong trip to Key Largo, a trip for During the month of October, the two to the 2018 Kentucky Derby Auto Auction of New England went and more. pink in support of breast cancer In addition, Carolina Auto Aucawareness for the second year in a tion hosted its own charity fundrow. raiser in November. “We had great success last year The Beards for Bucks campaign in raising awareness for this cause, was one where a handful of men and we were looking forward to doat the auction joined the larger ing it again this year,” stated Steven No-Shave November movement DeLuca, general manager. to also raise money for the Win“We knew our dealer guests ship Cancer Institute. would rise to the challenge but we Over four weeks, the auction were excited and humbled by their raised $10,000, bringing the todesire to contribute.” tal donation for the Winship DeLuca said that 100 percent of Cancer Institute to $50,000. its pink t-shirts were sold. Carolina Auto Auction’s You“Breast cancer impacts us all as BIG CHECK: Pam McAdams of Winship Cancer Institute, center, receives a donation from Tube Channel is featuring the we all know someone who has sufCarolina Auto Auction’s Eric and Lisa Autenrieth, from left, and Henry and Patty Stanley. Beards for Bucks videos. fered,” DeLuca said. Not to be outdone, the female “By the end of the month, our A benefit led by ServNet Chair- nual golf tournament. employees at Carolina are hostlot and our oices were a sea of man of the Board Kevin Brown The November campaign for ing an Ugliest Christmas Attire pink. Thanks to everyone pulling raised just over $40,000 toward cancer research was in honor of contest in December to try and together, we were able to donate melanoma research at the Win- Henry Stanley. match the success from this ear$5,000 to our local Breast Cancer ship Cancer Institute of Emory Auction leaders from around lier charity drive. Coalition.” University. the country held a charIt’s the same charity that Henry ity auction with some im- We invite news items and top-quality photos from our readers to be considered for “Around the Block.” Stanley and Carolina Auto Auc- pressive items, including a 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. tion raised money for at their an- Charlie Daniels autographed Fax: (586) 772-9400 e-mail: jeff@usedcarnews.com

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