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UsedCarNews.com

May 7, 2018

Floor Planners Meet Challenges of Rates, Tech

Photo courtesy of ADESA STOCK MARKET: Dealers bid on vehicles in the lanes at ADESA Chicago in Hoffman Estates, Ill. Many of these dealers make their purchases with floor plan financing. The cost of financing is rising along with interest rates.

By Ted Craig

Rush - Dated Material

Rising interest rates mean higher costs for dealers loor planning their inventory. Typically, loor plan rates are prime-plus. So as the Federal Reserve hikes interest rates, loor plan costs rise. For some dealers, this is a new experience. The Fed started its process of increasing rates in December 2015. This was the irst increase in almost a decade. Since then, rates have risen ive times, with the pace accelerating in the past year.

Jim Money, president of Automotive Finance Corp., said the Fed is doing a good job in handling the increases. “It hasn’t been knee-jerk reactions from the Fed,” Money said. “It’s been very scripted and they’ve been very minimal.” Dave Horan, NextGear Capital’s vice president of inance, said his irm’s clients are being more selective about inventory and loor plan purchases, but remain optimistic. “Although rising rates cause loor plan costs to increase, our dealers expect overall used-car demand will improve as payment-con-

scious consumers move from new auto purchases or leases to less expensive used vehicles,” Horan said. Jim Neubauer, chairman of Vehicle Acceptance Corp., said the impact on dealers is determined mainly by the way their loor planner calculates rates. VAC uses a ixed rate interest loor plan, while others ofer variable interest rate contracts. One of the biggest changes for loor planning since the last interest rate hikes is where dealers buy their vehicles. In addition to sourcing more vehicles online than from traditional sources, dealers are buy-

ing cars for a wide variety of venues, ranging from mobile sales to new Internet oferings. For example, Money’s AFC loor plans purchases of vehicles at ADESA auctions, Insurance Auto Auctions salvage sales, the online sales for both and on TradeRev, which ofers short duration sales online. “Sellers located long distances away, selling to unknown buyers using unique methods require that the buyer has inancial credibility in order for the buyer to get the best possible price from that seller,” Neubauer said. Continued on page 8

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USED CAR NEWS

May 7, 2018 • 3

Police: DNA Led to Arrest of Former Repo Agent WEST PALM BEACH, Fla. (AP) – Two nights before a clown fatally shot a woman at her front door, a customer showed up at a nearby costume shop and begged to be let in at closing. That night, 28 years ago, the woman urgently told two clerks she needed a clown suit, an orange wig, white gloves, a red nose and enough white makeup to cover her face completely. In a photo lineup, one of the clerks identiied the customer as Sheila Keen, who was rumored in May 1990 to be having an afair with victim Marlene Warren’s husband. Palm Beach County prosecutors recently released evidence they say helped them to arrest Keen in September at the Abington, Va., home she shared with her husband – Michael Warren, Marlene Warren’s widower. The evidence includes DNA tests on hair found in a car linked to the slaying. Detectives have not ruled out Michael Warren as a co-suspect. Keen Warren remains jailed without bond.

Prosecutors have said they will seek the death penalty for her. Michael Warren at the time owned a used-car lot and Sheila Keen did repossessions for him. Other employees, according to the document, told detectives Warren and Keen had been seen kissing and having sex in the oice. Warren and Keen denied a relationship. They married in 2002. The getaway car used by the clown was found abandoned in a parking lot shortly after the shooting. It had been reported stolen by a Payless rental agency near Michael Warren’s car lot, Bargain Motors. The people who had last rented the car told detectives they arrived afterhours at the Payless, hoping to leave the car. Finding no employees, they went home, looked in the Yellow Pages and called what they thought was Payless. A man told them to leave the car with its keys in the visor in front of the lot and someone would get it. They

Photo by The Associated Press CLOWN’S CAR: Authorities in Palm Beach County display the Chrysler LeBaron used as a getaway car.

reluctantly left the keys in the car. When they went back later, the car was gone, so they called the number again and the same man acted like he never spoke to them. The next morning they realized they had called Bargain Motors – its Yellow Page ad read “Payless!” The rental agency had

When you’re a special breed with a nose for business.

previously sued Michael Warren over the ad and an employee told detectives Michael Warren and another employee had pulled the ruse to steal the car as payback. No one was ever charged with the theft. Keen was interviewed by detectives shortly after the shooting and blood and hair were collected. She denied

being the shooter, saying she was in another part of the county looking for cars that needed to be repossessed. The murder investigation led authorities to take a close look at Michael Warren’s business practices. Michael Warren was convicted in 1994 of grand theft, racketeering and odometer tampering.

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4 • May 7, 2018

USED CAR NEWS

NEWS BRIEFS Incentive Spending Hits High for Year Incentive spending posted its largest increase of 2018 in April, according to J.D. Power and LMC Automotive. Month-to-date average spending is $3,698, up $187 vs. the same period last year. The spending increase continues to be driven by trucks and SUVs— up $426—while spending on cars is down $226. Despite the higher incentives, days to turn, the average number of days a new vehicle sits on a dealer lot before being sold to a retail customer, is 68 through April 22, down two days from last year.

Carfax Passes 20 Billion Records The Carfax database, believed to be the largest vehicle history database in the world, has surpassed 20 billion records. The 20 billionth record loaded into the Carfax database is an accident reported in Tennessee for a 2010 Toyota Prius. More than 112,000 domestic and international sources that report vehicle information to Carfax contributed to the milestone. Many records comprising the Carfax database is information only

found at Carfax. Consumers, dealers and auto-related companies have access to vehicle history details from a robust list of Carfax sources, including vehicle service shops, police departments, auto auctions, insurance companies, U.S. and Canadian motor vehicle agencies and more.

CFPB Fines Wells Fargo for Auto Insurance The Consumer Financial Protection Bureau announced a settlement with Wells Fargo Bank N.A. in a coordinated action with the Oice of the Comptroller of the Currency (OCC). The Bureau found that Wells Fargo violated the Consumer Financial Protection Act (CFPA) in the way it administered a mandatory insurance program related to its auto loans. Under the terms of the consent orders, Wells Fargo will remediate harmed consumers and undertake certain activities related to its risk management and compliance management. The Bureau assessed a $1 billion penalty against the bank for this violation and a mortgage violation. The CFPB credited the $500 million penalty collected by the OCC toward the satisfaction of its ine.

Dealerships Remain Central to Auto Finance FICO’s irst global survey on consumer perceptions of the automotive inance process found that the dealership process remains key in the United States. In the United States, only 5 percent of consumers applied for their inancing online while 29 percent plan to do so for their next purchase. In the U.S., more than any other country surveyed, the dealership is still the main channel for consumers, with 73 percent inancing their auto purchase at the dealership. The percentage of consumers who have to wait 30 minutes or more to complete their loan transaction is higher at 62 percent, which makes it the second highest country, behind only Mexico at 65 percent. In contrast, the U.K. has the shortest wait time for the loan process with 63 percent waiting less than 30 minutes.

vehicles. In celebration of the McKinney store opening, CarMax and The CarMax Foundation awarded $10,000 in donations and grants to the Boys & Girls Clubs of Collin County. The donations for this organization came at the recommendation of the McKinney CarMax associates.

Ally Sees Used Growth Ally Financial Inc. saw strong application growth for used-vehicle inancing in the irst quarter. Ally reported 1.9 million decisioned applications for used vehicles in the irst quarter. This was up from 1.564 million in the fourth quarter of 2017. The inance company reported 1.01 million new decision applications in the irst quarter, down from 1.06 million in the fourth quarter. Overall, Ally’s auto inance division reported net inancing revenue up year-over-year.

CarMax Opens Store in Dallas Area CarMax Inc. celebrated the opening of the company’s sixth store location in the Dallas area. The store is located at 1441 N. Central Expressway in McKinney. The McKinney store has the capacity to stock approximately 290 used

PAGE 13

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. 27 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

May 7, 2018 • 5

CPS Sees Lower Earnings Consumer Portfolio Services Inc. announced earnings of $3.1 million for the irst quarter. This compares to net income of $4.5 million in the irst quarter of 2017. Revenues for the irst quarter were $103.6 million, compared to $107.6 million for the irst quarter of 2017. Total operating expenses for the irst quarter were $99 million compared to $99.8 million for the 2017 period. During the irst quarter of 2018, CPS purchased $210.6 million of new contracts compared to $190.8 million during the fourth quarter of 2017 and $229.6 million during the irst quarter of 2017. The company’s receivables totaled $2.332 billion as of March 31, a decrease from $2.334 billion as of Dec. 31, 2017 and an increase from $2.323 billion as of March 31, 2017. Annualized net charge-ofs for the irst quarter of 2018 were 8.16 percent of the average portfolio as compared to 7.91 percent for the irst quarter of 2017. Delinquencies greater than 30

days (including repossession inventory) were 8.74 percent of the total portfolio as of March 31, as compared to 9.74 percent as of March 31, 2017. CPS also recently announced the closing of its second term securitization this year. The transaction is CPS’s 28th senior subordinate securitization since the beginning of 2011 and the 11th consecutive securitization to receive a triple “A” rating on the senior class of notes from at least two rating agencies. In the transaction, qualiied institutional buyers purchased $201.8 million of asset-backed notes secured by $205 million in automobile receivables originated by CPS. The sold notes, issued by CPS Auto Receivables Trust 2018-B, consist of ive classes. Ratings of the notes were provided by Standard & Poor’s and Kroll Bond Rating Agency, and were based on the structure of the transaction, the historical performance of similar receivables and CPS’s experience as a servicer.

Lynnway Settles with OSHA The U.S. Department of Labor has reached a settlement with Lynnway Auto Auction Inc., in which the Billerica, Mass., facility agrees to correct hazards, implement signiicant safety measures, and pay $200,000 in penalties. The Department’s Occupational Safety and Health Administration (OSHA) cited Lynnway for 16 violations following a May 2017 incident in which a sport utility vehicle fatally struck ive people during an auto auction. As part of the settlement, Lynnway will designate and mark nondriving locations, walkways, and crosswalks; install barriers in the auto auction area; establish and enforce speed limits and a safe driving program; periodically evaluate For Cars, Trucks and Vans

employees’ driving capabilities and licenses; provide employee training; and review all vehicle accidents or near-misses. “The settlement commits Lynnway to correct existing hazards, and requires it to take continuous action to help prevent future employee injuries or fatalities,” said OSHA Regional Administrator Galen Blanton. “The processes put into place by this agreement have the goal of ensuring that such needless loss of lives will not occur again,” said Regional Solicitor of Labor Michael Felsen. The Lynnway settlement became a inal order of the Occupational Safety and Health Review Commission on April 5.

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USED CAR NEWS

Senate Acts on Guidance Dealers and creditors are cheering the possible repeal of the Consumer Financial Protection Bureau’s auto inancing guidance. The Senate approved legislation ofered in March by senators Pat Toomey (R-Pa.) and Jerry Moran (R-Kan.) to use the Congressional Review Act authority to strike down the guidance. The resolution passed by a vote of 51 to 47. The CFPB issued the guidance in 2013 warning about the use of markups and how it would handle claims of racial discrimination. Auto credit applications don’t contain information about race. Consumer advocates have long claimed dealers target minorities to drive up the cost of inance and receive more money from inance companies through markups. The 2010 legislation that created the CFPB speciically exempted dealers from its oversight. Industry spokespeople have claimed the guidance was a way to get around that exemption. “The CFPB, under Richard Cordray, frequently overstepped its authority while snubbing Congress and the public in the process,” said Sen. Toomey in a release. “This auto lending guidance is an example.” Congress has used the CRA sev-

eral times in the past year to strike down regulations, including the CFPB’s arbitration rule. However, this is the irst time it has been used on guidance from a regulator. Last year, the Government Accounting Oice ruling determined this guidance was in fact a rule, which made it subject to the CRA. Consumer advocates are already claiming that eliminating the guidance takes away protection from minorities. National Automobile Dealers Association (NADA) President and CEO Peter Welch said the resolution is “a narrowly tailored joint resolution that does not amend or change any fair credit law or regulation or impair their enforcement. “ The American Financial Services Association joined the NADA in expressing support for the resolution. “The vehicle inance market in the United States is a highly competitive market which beneits consumers as dealers and lenders discount pricing and loan rates to sell and inance new and used vehicles,” said AFSA CEO Chris Stinebert. The resolution now needs approval from the House of Representatives before heading to the president. The House is expected to take it up this month.

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8 • May 7, 2018

USED CAR NEWS

Floor Plan – from page 1 “The new role for floor plan companies today is providing that critical credibility, third party underwriting and verification and credit capacity that buyers must have to be able to buy vehicles that are hundreds or even thousands of miles away, from sellers that want to be certain that they are going to get paid.” Horan said the role of floor planners has grown in many ways. “Today floor plan lenders are an extension of the dealership,

reducing some of the burdens typically associated with flooring transportation costs or managing the title process,” he said. With all the changes, floor planning still comes down to one goal: helping dealers stock the right inventory. Money said right now most are doing a good job in that area, turning their vehicles quickly and keeping ahead of market changes. This makes sense. After all, rising interest rates are a sign of economic strength, he said.


USED CAR NEWS

May 7, 2018 • 9

PEOPLE IN THE NEWS Compiled by Jeffrey Bellant ADESA Names Sales Director ADESA has named Gil Hyder as executive sales director. In his new role, Hyder will be responsible

nies. For the past 12 years, Hyder has grown his career into management positions at Insurance Auto Auctions (IAA), another KAR business unit. He leaves his position as director of commercial sales at IAA where he managed more than 30 national and regional accounts.

DriveTime Appoints New CEO

GIL HYDER for managing ADESA commercial client relationships and leading commercial client efforts for both physical auction and upstream remarketing services as well as other related products and services available across the KAR Auction Services Inc. group of compa-

DriveTime appointed Don Reese as the usedcar chain’s new CEO. Reese will join DriveTime as its new CEO beginning in late March. He will also be appointed to the DriveTime Automotive Group and Bridgecrest Acceptance boards of directors. Reese replaces Ray Fidel. Reese has over 30 years of experience in new and used auto sales. He was most re-

cently chief operating lending, collections, oicer for Sheehy Auto sales and marketing. Stores. Tim Russi, previously president of auto inance at Ally, will Ally Names Automotive remain with the comFinance President pany as vice chairman Ally Financial Inc. of auto inance until announced key leadership changes to its auto inance team. Doug Timmerman has been named president of auto inance, bringing more than 30 years of auto inance and insurance experience. He was previously president of Ally’s insurance business since 2014, and prior to that DOUG TIMMERMAN was vice president of auto inance, responsi- Oct. 1, to help ensure a ble for sales, risk man- seamless transition beagement and portfolio fore leaving to pursue management for the other opportunities. southeast region. Since joining Ally (then GMAC) in 1986, Cox Adds to HR Team Timmerman has held Cox Automotive a variety of leader- named Renato Razon ship roles in commer- as senior vice presicial lending, consumer dent, human resource

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business partners and employment practices, efective last month. Razon will lead people strategy and execution for Cox Automotive, reporting to Chief People Oicer Janet Barnard. In his new role, Razon will lead a broad team of corporate, ield and business-based HR business partners. He will also serve as a business liaison for People Strategies, actively collaborating with the executive team and other key business leaders to deine and execute domestic people strategies. Most recently, Razon was chief human resources oicer at Mercedes-Benz USA.

nerships by Hearst Autos. In this new role, Hicks will forge strategic partnership pro-

JAY HICKS

grams with OEMs, dealers, and data/technology providers for Hearst Autos’ Car and Driver business. Hearst Autos includes Jumpstart Automotive Media, Car and Driver and Road & Track. Hicks was previously Hearst Names VP assistant vice president Jay Hicks has been of strategic partnerappointed vice presi- ships for Atlanta-based dent of strategic part- Cox Automotive.


10 • May 7, 2018

RETAIL MARKETS FLORIDA Jim Winterick, president, Gulfstream Motor Credit, Miami, Fla: “We’ve been in business for 26 years. I have one location. I used to have three. To be frank with you, I wasn’t making any more money with three lots than I am with one – and I was working my (tail) of. “We keep a little over 100 on the lot. “I buy most of my cars through new-car dealer trades. I’ve been in the car business for 46 years and I’ve been in Miami for 37 years. I used to work at a big new-car store here and I used to go to the dealer meetings. So I met a lot of dealers. “Pretty much 95 percent of my business is buy-here, pay-here. I have some cash deals, but it’s mostly buyhere, pay-here. “Our average retail price is somewhere between $10,000 and $12,000. “Our average down payment is normally $1,050.

Our average term length goes by weeks, so it’s about 155 weeks. So it’s between two-and-a-half to three years. “We use GPS. I’ve also been getting the starter-interrupt because when I decide to repo it, I don’t want them to move it. I also have been buying a fake one that blinks and (is labeled) GPS. It alerts me if they take that of. If they do, then I get my collateral. “Average model years are six to 10 years old. Mileage on my cars goes from probably 80,000 to 180,000. With trucks I’ll go higher. “It’s always a struggle to get trucks (for the buy-here, pay-here market). I tried to convert to all trucks a while ago, but I just ran out of money. I do sell trucks, but they have some miles on them. They’re expensive, but they always sell. “I would say I’m about 40 percent cars, 20 percent SUVs, 20 percent vans and the rest are trucks. “In the Miami market, it’s

about 70 percent imports, because that’s mainly what people buy. “I spend a lot of money on recon, it seems. It’s probably around $1,000 to recondition them. They have to run a minimum of two years, otherwise I won’t get paid. “I guarantee everything for 24/24 (months/miles), with $100 deductible. I do that work in-house. “I used to service outside vehicles, but then I went to a seminar at the NIADA (National Independent Automobile Dealers Association) convention and the guy was a buy-here, pay-here dealer. “I asked him about doing outside work and the (speaker said) ‘I quit doing that because we were stepping over dollars to pick up pennies.’ “I realized I had a backlog of my stuf because I was doing everybody else’s cars. Then I thought, ‘Let’s just take care of our own customers.’ “I’ve got ive full-time me-

$ chanics. “For advertising, I do TV only. I only do that on cable. I do that in the area within eight miles of the store. “I recently sold a 2006 BMW X5 that I bought as a newcar trade. It had 136,000 miles. I sold it as a cash deal for $5,500.”

UTAH Peter Schen, general manager, Naples Auto Group, Vernal, Utah: “We’ve been in business 37 years. We have one location. “As far as inventory, we’re between 125 and 150 units. “So far this year, we’re averaging 41 units per month. For 2017, it was 46. That was one of the better years that we’ve had. “We source our inventory through all methods. We’ll buy of the street. “We’ll buy wholesale from other dealers and we’ll buy at auctions. The auctions we use are the Manheim and ADESA sales in Utah, but we’ll also go to Denver

$

USED CAR NEWS

Compiled by Jeffrey Bellant and Las Vegas. “We do mostly retail, but we also do subprime. We do the most subprime in the area. We only do two to three (buy-here, pay-here deals). “The average retail price on the lot is about $14,000. “We’ll carry as far back as 2008 (model year) to some pretty new stuf. “About half of our inventory is trucks and SUVs and half is cars. “Reconditioning costs are more than I want them to be. They are probably between $1,000 and $2,000. “We do our own work. We have a full-service department. We do outside work. “We use a little bit of print. We’re in a small town, so we do some print that’s somewhat efective. We do some radio as well. “One recent vehicle we sold was a 2007 Dodge RAM 2500. It had 129,000 miles. The purchase price was $25,700.”

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USED CAR NEWS

May 7, 2018 • 11

WHOLESALE MARKETS Compiled by Jeffrey Bellant TENNESSEE Doug Rodriguez, general manager, Dealers Auto Auction of Chattanooga, Chattanooga, Tenn.: “The auction has been here 22 years, but Dealers Auto Auction Group has had it since 2014. I’ve been here since February 2017. “We have eight lanes and we’re currently running ive lanes. “Volume has been better than 2017. Our volumes year-to-date have been up. We’ve had a small increase on the dealer consignment side and a larger increase on the leet-lease and repo side. “We run anywhere from 500 to 600 units every week, but it’s closer to 600. “We have a fairly good mix of dealer and leet-lease. This year we added a factory sale. So we have Volkswagen and Audi. “Our irst sale was April 12 and we ran 100 units. It was very successful. “We had a 70 percent (conversion rate) throughout the entire month of March. In

April, it’s been 60 to 62 percent (at press time). “Typically, we have about 45 percent dealer cars to 55 percent leet/lease. In the irst quarter, dealer consignment has been a little bit harder to ind. “Our average sale price in the lane is $7,400. “I think dealers are optimistic overall. I believe we all think we’re going to have a good year. The irst quarter has been fairly good. “I just think consignment has been a little light on the wholesale end because dealers are holding on to their inventory. “We draw from all over Tennessee, but we also draw dealers from Alabama and Georgia. So those are our primary areas. We’ve also pulled up some from the northern part of Florida and a few from the Carolinas. “We have all the online platforms, like OVE and SmartAuction. We just converted to a new auction system called The Auction Platform. We also have simulcast

in the lanes. “We have a GSA sale and I run for TVA (the Tennessee Valley Authority), as well as for Element and ARI. We just won the Auction of the Year from ARI. “We also run for local credit unions, banks and for U-Haul. “The TVA is a quarterly sale and the GSA is monthly. “I think we’re going to inish up with a strong year. I think we’re going to have a record year at DAA Chattanooga.”

WISCONSIN Wade Lallemont, general manager, Wisconsin State Auto Auction, Lomira, Wis.: “We opened in April 2012. “We have three lanes. (Although) we typically run two lanes, we’ve been running three more often. “I would say we’re consistently going to be running three. “I’d say we’re averaging 225 to 250 cars per sale. We’ve been looking close-

ly at that since we’ve seen some growth in the spring market and beyond. “Last year this time I think we were more in the 175-car range. “I attribute a lot of the (improvement to the sales staf that we’ve been growing and their eforts in taking care of customers. “(Conversion rates) are mostly in the upper 50s. A lot of times we’re hitting the mid-60s, too. “You see (the boost) in tax season a little bit in midFebruary through the end of April. That’s normally when we’d see it. I already see prices dropping a little bit (in late April). “With bidders in the lanes, I’d say we see anywhere from 100 to 150 every week. “I’ve got to say the moods are mixed. I hear some guys say they’re humming along, selling a lot of cars, then I hear other guys say the retail is very slow. I think it’s across both franchise and independents. “We probably run 30 repos

a week. I’d say our lease and repo makes up about 15 percent of our volume. “We have AWG for our broadcast sale. We have online bidding. That’s an area that’s growing, too. “I would say our average price coming across the lane is $3,500 per car. That’s pretty close to what it was last year. “On the third week of every month, we do a toy sale, which is boats, campers, snowmobiles, fourwheelers – stuf like that. It’s small, maybe about 15 per sale. “That sale runs all year long, though it’s deinitely stronger in the spring, summer and fall. “I’m seeing more of a steadiness in the market. We’re not seeing as big of a luctuation in the cars coming in as we’ve had in the past. “I feel very good about the rest of the year. We’re actually hiring new employees, expanding some roles. “It’s looking good.”


12 • May 7, 2018

USED CAR NEWS

DISCONNECTED JOTTINGS FROM The ways in which our medical and medicine industries are funded defy any attempt to ind cures for a broken toenail, let alone cancer or Alzheimer’s disease. Just imagine who would sufer if a miraculous cure for cancer were to be found at breakfast time tomorrow morning. Half the medical profession would be on its knees. So there’s a huge question that’s left; is there really any incentive to ind a cure at all? Ever? Hundreds of billions of dollars and millions of jobs would be ostensibly lost or at least stopped in their tracks. Major hospitals and all the dependent services would no longer be needed. The charities’ expensive administrations would have to ind another reason to keep their hands held out. Don’t get me wrong – I’ve given my fair share over the years and continue to do so.

TONY MOORBY

There’s almost a parallel in the gasoline business – pay the guy that inds a pill to drop into a tank of water for $2.50 and keep him quiet with a big personal payday, while the big gas companies continue to insist that theirs is the only cost-eicient way to get around. Meanwhile suppliers, especially of pharmaceuticals, continue to hold poor, unfortunate suferers to ransom with insurance companies irmly entrenched in this shady stream of commerce; premiums to uphold the payment of larger and larger costs going up in concert with the demand. Janssens and Pharmacyclics, a joint venture partially owned by Johnson and Johnson, has just released a “new, innovative approach” to the treatment of patients with a certain type of blood cancer – they’ve quadrupled the price of their pills, regard-

less of the dosage, so the lower dose costs the same as a higher dose. The annual cost of the regimen -- $148,000 per patient! Doctors were working on a lower-dose course to obviate some side efects and lower the expense so the company is “discontinuing” the lower-dose pills in three months. And to make matters smell even worse, the regulators went along with the gig!! It makes you wonder if they too are ‘in the stream of commerce.’ I wonder if one of them were to be unfortunately stricken with this awful disease, would they so quickly sanction such an increase? Imagine what would happen to the stock price of these companies – even to the stock exchange. Too big to change? We went down that road 10 years ago. So you have to wonder if the continued commitment to ind a very expensive cure for many diseases is diferently driven from the ratio-

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nale of commitment itself – they’re at complete odds with one another. I probably don’t need to remind you of that miserable moneygrubber, Martin Shkreli, the founder of and CEO of Turing Pharmaceuticals, who raised the price of the drug Daraprim from $13.50 per pill to $750 by buying an old supplier and selling the same drug at the increased price through the new company. If you consider the bil-

lions of dollars spent on cancer research alone in the last 50 years – the most innovative in medical and research history – and we haven’t come what seems to be close to a cure, then you have to wonder why not. In the meantime those companies that produce drugs to ameliorate the effects of these diseases are more akin to proctologists than medical suppliers.

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 • IARA Circle of Excellence

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


USED CAR NEWS

May 7, 2018 • 13

Digital version available at usedcarnews.com

C R O S S WO R D By Myles Mellor

Across 1. MDX or RSX 4. BMW series 7. Tire meas., abbr. 9. Get into a seat 11. Designate 12. Important metal in vehicle construction 13. Engine part 14. It will afect price 16. What’s let to spend 17. Indy 500 sound 21. Roof so to speak 23. ____ Sedona 24. What a mentor might give 26. ___-friendly 29. Speeds 31. Nickle-cadmium battery 34. Patch 35. Rhode Island based insurance company 37. Former Chrysler sedan 39. Z4, for one 41. Atlanta’s state

43. Controlled 44. Chrysler’s __ Cruiser 45. Vanquish and Vantage, e.g. - 2 words 48. Cow sound 49. Former litback coupes from Ford 52. Go slowly in traic 53. In-light info, for short 54. GMC van 55. Ofer an initial price, for example - 2 words

Down 1. ____ R8 Spyder 2. City related 3. Resource 4. Alfa Romeo model 5. XC60, XC70 or XC90 6. U.S.N.A. part 7. Honda SUV 8. What a windshield can do in winter (2 words)



10. Computer Department 15. Tourmaline, e.g. 18. Dodge truck 19. Overtime, abbr. 20. ____ Clubman 22. Out ____ limb, 2 words 23. Boxing ight inale, abbr. 25. Online photo 26. Ford SUV 27. Top executive 28. Admits, with “up� 29. Goes in a hurry 30. Semiannual, for short 32. Car with a roof that folds down 33. Change to a lower gear 36. Large 38. 2 or 4 oten 40. “I can’t believe it!� 42. Nissan SUV 45. “Give it ___!�- 2 words



 





















 



































 









 











 









 

46. Anthem and Titan trucks, for example 47. Haul of 49. Educ. group 50. ____ 4: Toyota truck 51. Dog holder 53. Lexus __ 330

Solution to this puzzle in the 5/21/18 issue. Call 1.800.794.0760 for a FREE subscription.



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Solution to the 4/16/2018 puzzle

D


ACTUAL WHOLESALE AND PROJECTED RESIDUAL VALUES MAY 2018

SOURCE: BLACK BOOK

2013 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

May ‘17 12,600 15,800 6,700 7,550 7,300 12,350 6,250 11,050 11,150 13,850

Nov ‘17 10,000 13,900 5,500 6,200 6,300 11,150 5,350 9,850 9,550 11,800

May ‘18 9,100 12,800 5,200 5,750 6,000 10,700 4,950 9,550 8,900 11,050

May ‘19 7,975 10,625 4,125 5,025 4,500 8,850 3,925 7,875 7,400 8,725

May ‘20 7,125 9,000 3,500 4,375 3,650 7,700 3,325 6,650 6,325 7,425

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

May ‘17 14,350 25,350 7,950 12,550 8,350 13,550 7,650 13,050 12,800 15,900

Nov ‘17 14,200 22,700 6,550 11,850 7,550 13,100 6,950 11,400 11,550 14,850

May ‘18 12,250 20,650 6,150 10,700 7,200 12,300 6,700 11,100 10,500 13,500

May ‘19 10,550 17,875 4,825 9,025 5,500 9,950 4,900 9,000 8,775 10,650

May ‘20 9,200 15,250 4,025 7,600 4,475 8,550 4,050 7,625 7,450 8,875

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 Sentra S 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan Nissan Altima S 4D Sedan 2.5

May ‘17 12,550 14,150 28,000 10,500 8,300 17,950 18,300 5,400 8,450 7,000 9,450 7,750 9,900 8,700

Nov ‘17 12,150 12,500 23,300 9,300 7,300 16,350 16,400 4,850 7,300 5,550 8,300 7,150 7,700 7,500

May ‘18 11,400 11,350 21,000 9,450 6,800 14,650 13,800 4,750 6,800 5,000 8,350 6,750 7,350 6,950

May ‘19 8,950 9,350 16,200 7,650 5,825 11,975 11,450 3,600 5,700 4,325 6,900 5,775 6,000 5,750

May ‘20 7,350 7,950 12,700 6,650 5,125 10,225 9,275 3,100 4,875 3,925 6,125 5,225 5,175 4,950

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 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 Sentra S 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan Nissan Altima S 4D Sedan 2.5

May ‘17 15,850 16,350 35,500 11,850 9,850 20,300 23,300 6,150 9,650 8,250 11,200 10,300 12,250 10,050

Nov ‘17 14,950 15,250 29,550 10,450 9,050 18,700 22,200 6,050 8,900 7,550 10,150 9,600 9,850 9,250

May ‘18 14,000 13,100 26,750 10,400 8,450 17,000 19,100 5,200 8,350 6,950 9,850 8,750 8,800 8,500

May ‘19 11,125 11,075 20,475 8,675 7,125 13,850 15,400 4,100 6,750 5,700 8,125 7,375 7,250 6,825

May ‘20 9,125 9,350 16,100 7,550 6,175 11,750 12,400 3,525 5,725 4,975 7,100 6,550 6,300 5,825

TRUCKS BMW X3 XDrive28i 4D SAV 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 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 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 Cadillac Escalade base 4D SUV RWD Ford Escape SE 4D SUV FWD Honda Pilot EX-L 4D SUV w/RES Toyota Tacoma SR5 Double Cab 4X4 V6

May ‘17 16,650 18,850 9,900 19,200 23,500 9,700 14,450 17,900 17,000 16,100 12,550 11,800 17,850 25,550 10,250 16,850 17,400 25,350 29,100 9,400 20,100 23,425

Nov ‘17 14,700 16,950 9,200 17,500 19,500 8,700 13,050 16,000 15,500 13,700 11,850 11,300 16,100 24,450 8,900 15,150 16,800 23,550 26,800 9,300 18,600 22,175

May ‘18 12,675 14,800 8,350 15,300 18,000 7,400 10,950 14,450 13,000 11,800 11,150 9,700 14,525 22,625 8,350 13,100 16,000 21,950 24,300 8,400 15,950 21,250

May ‘19 11,350 13,050 6,800 14,000 15,700 5,900 9,850 12,625 11,825 10,375 9,625 8,325 12,200 21,925 6,750 11,900 14,875 18,750 21,775 6,825 14,325 19,475

May ‘20 10,025 11,500 5,750 12,775 13,450 4,875 8,750 11,025 10,675 9,200 8,700 7,300 10,375 21,150 5,800 10,475 13,825 16,125 18,975 5,850 12,525 18,100

TRUCKS BMW X3 XDrive28i 4D SAV Cadillac SRX Luxury 4D SUV AWD Chevrolet Equinox LS 4D SUV FWD Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D SUV FWD 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 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 Cadillac Escalade base 4D SUV RWD Ford Escape SE 4D SUV FWD Honda Pilot EX-L 4D SUV w/RES Toyota Tacoma SR5 Double Cab 4X4 V6 Chevrolet Silverado 1500 LT Double Cab

May ‘17 23,650 22,150 10,650 26,900 11,700 17,000 22,100 20,300 18,800 13,900 15,800 18,600 27,650 11,600 19,125 21,300 26,650 33,600 10,850 23,500 24,950 22,600

Nov ‘17 19,700 19,600 10,500 25,000 10,900 15,600 20,600 18,800 18,400 13,400 14,650 18,150 26,800 10,250 17,975 21,000 25,150 30,000 11,650 21,750 23,050 21,000

May ‘18 16,950 17,600 9,700 21,500 9,800 13,800 18,500 16,400 15,500 12,850 12,175 16,350 24,950 9,700 15,500 19,000 23,500 26,500 10,150 19,125 22,700 19,000

May ‘19 14,850 15,500 7,925 19,525 7,550 11,700 15,750 14,250 13,975 10,800 10,175 13,650 23,900 7,725 13,550 17,850 20,225 24,175 8,275 17,225 20,700 17,225

May ‘20 12,625 13,850 6,775 16,625 6,100 10,200 13,400 12,725 12,100 9,775 8,800 11,600 22,650 6,650 11,875 16,450 17,675 21,450 7,050 14,950 19,325 15,850

2015 MODELS

2016 MODELS Recorded Figures

Recorded Figures

Projected Figures

Projected Figures

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 300 S 4D Sedan V6 Ford Focus SE 4D Sedan Ford Mustang base 2D Coupe Ford Taurus SEL 4D Sedan Lincoln MKS 4D Sedan Chrysler 200 S 4D Sedan

May ‘17 15,600 27,400 9,200 13,450 19,650 9,100 15,750 14,550 19,300 11,650

Nov ‘17 15,750 24,550 7,900 12,900 18,750 8,500 13,800 13,550 17,900 10,900

May ‘18 14,250 23,200 7,800 11,950 17,750 8,200 13,300 12,650 16,650 10,300

May ‘19 12,050 19,825 6,000 10,150 14,525 5,950 11,125 10,675 12,800 8,250

May ‘20 10,575 17,125 5,075 8,625 12,500 4,875 9,675 9,000 10,550 6,800

DOMESTIC CARS Buick LaCrosse Leather 4D Sedan FWD Chevrolet Cruze LS 4D Sedan Chevrolet Impala LS 4D Sedan 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 Chrysler 200 S 4D Sedan Cadillac CTS Luxury 4D Sedan RWD 3.6L

May ‘17 19,750 11,400 14,450 20,900 11,050 17,500 16,500 22,450 13,000 28,200

Nov ‘17 18,450 10,000 13,850 20,300 10,400 15,500 15,450 21,250 12,150 26,050

May ‘18 16,550 9,900 13,250 19,350 9,500 14,600 13,900 20,100 11,900 24,300

May ‘19 14,550 7,750 11,225 16,300 7,200 12,450 12,225 15,100 9,550 20,825

May ‘20 12,625 6,600 9,675 14,100 5,900 10,950 10,575 12,325 8,025 17,800

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 Sentra S 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan Nissan Altima S 4D Sedan 2.5

May ‘17 19,500 19,700 46,500 13,900 11,150 24,600 29,000 8,650 11,250 9,450 12,550 11,150 13,750 11,650

Nov ‘17 17,300 17,250 36,500 12,200 10,550 22,500 26,700 7,300 10,250 8,450 11,900 10,550 12,100 10,700

May ‘18 15,400 15,650 33,000 11,950 10,200 19,400 24,200 6,550 10,050 8,100 11,700 10,000 11,000 10,300

May ‘19 13,150 13,500 25,900 9,600 8,325 16,325 19,450 5,050 7,825 6,425 9,625 8,150 8,950 7,975

May ‘20 11,625 11,350 20,500 8,475 7,250 13,725 15,725 4,325 6,650 5,575 8,450 7,250 7,600 6,800

IMPORTED CARS Acura TLX Base 2.4L 4D Sdn BMW 3-Series 328i 4D Sedan Honda Accord LX 4D Sedan Hyundai Sonata SE 4D Sedan 2.4 Lexus ES 350 4D Luxury Sedan Mitsubishi Lancer ES 4D Sedan Nissan Altima base 4D Sedan Nissan Sentra S 4D Sedan Toyota Camry LE 4D Sedan Toyota Corolla LE 4D Sedan Volkswagen Jetta SEL 4D Sedan Nissan Altima S 4D Sedan 2.5 BMW 7-Series 750i 4D Sedan Mercedes-Benz E-Class E350 4D Luxury Sedan

May ‘17 22,650 23,750 16,600 12,250 29,600 10,300 12,300 10,500 13,800 12,250 15,550 12,600 68,500 35,200

Nov ‘17 20,250 21,000 14,650 11,250 27,500 9,650 12,050 10,050 13,300 11,450 14,200 12,500 55,000 32,100

May ‘18 18,400 19,000 14,700 11,000 24,600 8,750 11,600 9,350 13,000 10,900 12,500 11,950 51,250 27,900

May ‘19 15,875 15,950 11,650 9,150 20,650 6,975 9,250 7,675 10,750 9,075 9,600 9,575 39,000 22,800

May ‘20 13,875 13,525 10,150 7,975 17,400 5,750 7,950 6,650 9,500 8,150 8,200 8,200 30,625 18,700

TRUCKS BMW X3 XDrive28i 4D SAV Cadillac SRX Luxury 4D SUV AWD Chevrolet Equinox LS 4D SUV FWD Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D SUV FWD 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 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 Cadillac Escalade base 4D SUV RWD Ford Escape SE 4D SUV FWD Honda Pilot EX-L 4D SUV w/RES Chevrolet Silverado 1500 LT Double Cab

May ‘17 25,250 25,250 12,200 34,200 13,300 19,550 25,000 22,000 19,600 15,550 18,200 22,500 29,200 12,850 25,500 23,000 28,250 24,150 48,200 13,200 26,650 23,700

Nov ‘17 23,350 23,300 11,700 32,300 12,800 19,800 23,300 20,800 20,600 15,150 16,500 21,150 28,250 11,600 24,700 23,000 26,700 21,700 44,000 12,900 24,600 23,900

May ‘18 21,350 20,550 11,150 29,000 11,100 17,900 21,200 19,500 17,800 14,700 14,000 19,675 26,450 10,900 21,975 19,700 25,250 21,575 38,500 11,950 21,300 21,000

May ‘19 18,175 18,200 8,875 25,725 8,850 15,275 18,075 16,875 16,100 12,375 11,625 16,525 25,300 8,950 18,600 18,675 22,350 19,500 34,225 9,525 19,175 19,300

May ‘20 15,425 16,350 7,700 22,200 7,400 13,200 15,300 15,450 14,125 11,225 10,100 14,150 23,925 7,800 16,075 17,450 19,825 18,025 30,600 8,200 16,825 17,675

TRUCKS BMW X3 XDrive28i 4D SAV Cadillac SRX Luxury 4D SUV AWD Chevrolet Equinox LS 4D SUV FWD Chevrolet Tahoe LS 4D SUV 4WD Dodge Grand Caravan SE Wagon Ford Edge SEL 4D SUV FWD 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 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 Cadillac Escalade base 4D SUV RWD Ford Escape SE 4D SUV FWD Chevrolet Silverado 1500 LT Double Cab Honda Pilot EX-L 4D SUV FWD w/RES Toyota Tacoma SR5 Double Cab 4WD V6

May ‘17 27,750 28,950 14,850 37,000 15,100 21,900 26,100 23,500 21,600 17,550 20,250 23,550 30,700 14,050 26,725 24,500 30,350 56,200 15,100 25,700 30,800 29,275

Nov ‘17 25,050 27,350 14,350 35,000 14,500 21,550 26,000 21,700 21,900 17,450 19,050 22,500 30,100 13,250 25,675 24,600 29,050 53,700 14,800 24,800 30,000 27,725

May ‘18 24,825 23,300 13,050 31,500 13,100 19,950 23,900 21,500 18,800 16,600 16,500 21,150 28,425 12,200 23,550 21,800 28,000 44,000 13,900 22,500 26,425 26,975

May ‘19 20,025 20,625 10,750 28,225 10,400 16,900 20,850 18,650 17,350 14,200 13,975 18,400 27,025 10,175 20,175 20,000 24,675 41,100 11,175 20,475 23,800 24,925

May ‘20 17,275 18,425 9,250 24,850 8,600 14,750 17,825 17,075 15,550 12,850 12,075 16,075 25,575 8,950 17,625 18,725 22,125 36,225 9,650 19,000 20,925 23,275


The 72nd Annual NIADA Convention and Expo

20 18

FOR MORE INFORMATION OR TO REGISTER: www.niadaconvention.com or call 1-800-682-3837 Register to attend by May 18 For the Early Bird rate of $549 – and don’t miss out on our group discount opportunities for additional attendees from your dealership.

BMSM: Buy More, Save More! $549

1 attendee

$549.00 each

$899

2 attendees

$449.50 each

18% off

$1,299

3 attendees

$433.00 each

21% off

$1,599

4 attendees

$399.75 each

27% off

$1,899

5 attendees

$379.80 each

31% off

NIADA is Rewriting the Playbook for the biggest event in the used vehicle industry by coming together with the National Alliance of Buy Here-Pay Here Dealers to create a combined Mega-Conference that blends the power of NABD’s BHPH expertise with NIADA’s wide-ranging education agenda – not to mention the largest Expo Hall in our history. The used car game has changed drastically over the past few years and continues to change rapidly. To keep up – and thrive – independent dealers not only have to adjust the plays they’ve been running for years, they need an entirely new playbook. Come join us in Orlando and rewrite your playbook to success!

What’s in it for YOU? 60 Cutting Edge Educational Sessions Retail • BHPH • CPO • Legal & Compliance • Digital

Topics Include: Collections, Underwriting, Trends, Legislative and Regulatory Updates, Benchmarks, Technology Showcase

The Largest Expo Hall

Featuring 210-220 exhibitors offering the latest state-of-the-art products and services to help keep you ahead of the pack in today’s competitive market.

Dick Vitale: College Basketball Analyst, ABC Sports and ESPN Known to basketball fans for his energy, wit and colorful descriptions of players and plays, Dickie V’s entertaining message of overcoming life’s challenges and obstacles is nothing short of “awesome, baby!” Keynote Speaker sponsored by

BOOK YOUR ROOM BEFORE JUNE 1

To receive the NIADA/NABD room rate of $159 per night including resort fee. Rooms at the Rosen Shingle Creek will sell out quickly. Please book now! Follow us on social media for Convention updates and registration giveaways!


YOU DESERVE IT. ADESA.com/Rewards

Used Car News 05/07/2018  
Used Car News 05/07/2018