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Hello and welcome to this week’s edition of Beggs on the Used Car Market, with used car market insights from Ricky Beggs and Black Book. It is great to be back with you this week. I hope you gained some insight from the thoughts of Steve Jordan of the National Independent Automobile Dealers Association. We will also share with you today another of the short interviews we recorded while at the…Continue
Added by Black Book on October 27, 2014 at 7:50am — No Comments
Compared to even ten years ago, it seems that everyone is in a rush to get something done fast and with as little inconvenience as possible. The reality is - people have less time, which…Continue
Added by Richard Holland on October 23, 2014 at 5:30am — No Comments
Black Book expects Luxury-Level car segments will feel the largest depreciation through the balance of the year, largely driven by off-lease returns in lease-heavy segments. Luxury segments in this class will include Premier Luxury (BMW 7 Series, Audi A8, Lexus GS/LS, Mercedes-Benz S); Near-Luxury (Audi A4, Mercedes-Benz C, Cadillac CTS, Acura TL); and Luxury Level (BMW 5 Series, Audi A6, Cadillac DTS, Lexus IS, Infiniti M, Lincoln MKS).
Entry-level and small cars will also…
Added by Black Book on October 21, 2014 at 10:48am — No Comments
Fair or not, some constituents are unhappy with what their elected officials are paying to drive. In the majority of cases, these cars are leased. Some opponents are even using the price of the car lease in attack ads. Politicians have…Continue
Added by John Sternal on October 20, 2014 at 2:34pm — No Comments
Selling a car online is now mainstream. But you can easily screw up your chances for success, usually with the photos you select.
“Especially when car shopping, price and car design have always been the two biggest hot buttons that will dictate the success of a car sale,” said Scot Hall, Executive Vice President of Swapalease.com. “Photos that showcase the car’s design and features are even more important in a peer-to-peer sales environment such as the Swapalease.com…
Today we focus on customization when selling to women. When dealership personnel say that they “treat everyone the same,” what they really mean is that they greet prospects consistently and similarly with a sales process - whether in person or digitally. However, having the capacity and ability to treat each customer the same simply can’t be accomplished. It sounds nice as a concept, but after all we are humans, not robots. We can’t be shaped and programmed to treat…Continue
Added by Anne Fleming on October 15, 2014 at 10:22am — No Comments
Wantalease.com, the nation’s first online car lease marketplace for new car lease deals, shows a growing number of car and truck lease deals offered for less than $150 per month. What's more, a few cars are even offered for less than $120 per month. The deals arrive as leasing continues to grow in popularity for consumers and dealerships.
The Chevrolet Cruze LT and the Ford Focus SE are both offered at $119 monthly in their current October Wantalease.com lease deals, highlighting…
Added by John Sternal on October 14, 2014 at 7:18am — No Comments
Hello and welcome to this week’s edition of Beggs on the Used Car Market, with data and insights from Ricky Beggs and Black Book. From all of the reports and seeing the action first hand we know how active most dealers and remarketers have been this past week. The comments within the Black Book survey personnel summary reports this past week as compared to the prior week took on a…Continue
Added by Black Book on October 13, 2014 at 8:44am — No Comments
Swapalease.com, the nation’s largest car lease marketplace, reports lease credit approvals during the month of September were down at 64.5%, falling after reaching into the low 80% range during July and August. The approvals rate is an important indicator of how successful car shoppers are at getting approved for a car lease.
The approvals rate has witnessed noticeable turbulence in recent months, with SubPrime car shoppers the likely culprit. Year-to-date approvals are at 67.8%…
Added by John Sternal on October 9, 2014 at 9:35am — No Comments
The Consumer Financial Protection Bureau proposed a new rule that would allow it to oversee companies that finance car loans and leases. The new rule is designed to address…Continue
Equifax Inc. (NYSE:EFX), a global information solutions company, announced that its auto lending customers will now have the added benefit of direct access to Black Book® vehicle value data and loan-to-value (LTV) model data.
By incorporating Black Book data with differentiated Equifax data, lenders can better evaluate LTVs at origination, migration of LTVs, collateral risk and layered risk.
Additionally, using Equifax and Black Book data gives lenders additional tools…
Added by Black Book on October 7, 2014 at 7:06am — No Comments
Hello and welcome to this week’s edition of Beggs on the Used Car Market. In last week’s video market blog in addition to some market movement insight, we included a short interview with Paul Seger, Vice President, Asset Remarketing with GE Fleet Services. We have two more of the key industry remarketing personnel interviews from the recent NAAA convention to share with you today. We will…Continue
Added by Black Book on October 6, 2014 at 9:53am — No Comments
Today we are looking at the Service Drive. This is the critical department where your female customers visit in between purchasing or leasing their vehicles. With all the touch points in the service department, it's also happens to be the highest gross margin department in your store. It's the place where retention happens - or doesn’t.…Continue
Added by Anne Fleming on October 1, 2014 at 8:27am — No Comments
Welcome to this week’s edition of Beggs on the Used Car Market, with insight and data from Ricky Beggs and Black Book. What a week it was as Black Book was on the lanes getting the most current market insight and also attending the annual National Auto Auction Association convention, this year in historic Boston. A huge thank you goes out to all the auctions and remarketers that support Black Book as we…Continue
Added by Black Book on September 30, 2014 at 10:35am — No Comments
In the world of online matchmaking, women express their inner feelings through their online ads more so than men. In the world of online “car matchmaking”, not so much. An analysis of gender-specific online “car ads” by national car leasing marketplace, Swapalease.com, finds that men are more expressive when it comes to details of the cars they’re trying to pair up with others.
The nationwide online marketplace helps match people wanting out of their car lease with others around…
Added by John Sternal on September 30, 2014 at 10:30am — No Comments
Black Book announces the integration of its vehicle valuation data into a number of today’s leading providers of loan origination systems used by auto lenders. Recent integrations include Credex, Compass Technologies and FNI (Financial Network Inc.).
This continued expansion of Black Book data throughout industry loan origination systems allows lending decisions to be made in less time and with lower costs, thus accelerating the approval process. These operational efficiencies,…
Added by John Sternal on September 30, 2014 at 6:34am — No Comments
In Baton Rouge, you will find people debating on whether they should go for used Honda cars or the new ones. There are some people who buy old cars and they have nothing to complain about. The old cars prove worth while buying since they have already passed the test for quality considering the electrifying performance that they have shown for ages. Other people will hear nothing about these old and used cars, and they would rather spend a fortune but have a new Honda car.
Added by Agnes Marylinn on September 29, 2014 at 11:38pm — No Comments
Wantalease.com, the nation’s first online car lease marketplace for new car lease deals, reports domestic auto leases are seeing the largest price drops during September. Seven of the top ten popular lease vehicles with the biggest price drops in September are from Chevrolet, Chrysler, Ford and Buick, with prices discounted as much as 46% from the previous month.
Wantalease.com is the nation’s first online destination for new car lease deals, and it is a sister marketplace to…
Added by John Sternal on September 24, 2014 at 1:49pm — No Comments
Welcome to this week’s Beggs on the Used Car Market, with data and insight from Ricky Beggs and Black Book. As we passed through each day with attendance at auctions and watching others online by the editors, it is obvious regarding the interest in the used market while recognizing the overall value movement and the number of no sales, that we are fully engaged in the beginning of the…Continue
Added by Black Book on September 22, 2014 at 8:24am — No Comments