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Hello and welcome to this week’s Used Car Market Report, with insights from Ricky Beggs and Black Book. This will be a short week in the market due to the Thanksgiving holiday. Hopefully in addition to the Black Friday crowds and sales at the big box retailers and electronics stores the excitement will spread over to the new and used auto lots.
Even though there were comments…
Added by Black Book on November 24, 2014 at 9:25am — No Comments
If you want a vehicle for a short period, it makes sense to buy a used car. But buying a used car can be a tricky thing. There is always the risk of getting duped into exchanging your money for something useless. Although you can never be completely sure whether a used car is going to run well, knowing a little about them would certainly save you from a big mistake. Below are a few things that you can do.…Continue
Added by Daina Martin on November 24, 2014 at 5:30am — No Comments
As the Internet continues to become more all-important to business, companies that actually take advantage of it intelligently continue to grow and improve. However, not everyone knows how to harness the power of the web, and otherwise successful companies sometimes fail to adapt to the times. Among all the SEO articles and get-rich-quick schemes, a powerful Internet marketing tool involving classified ads is being used with fantastic…Continue
Added by Angela Smith on November 22, 2014 at 10:00am — No Comments
Smartphone & Tablet Technology Showing Improvements in Decision-Making Speed and Profitability
LAWRENCEVILLE, Ga. (November 20, 2014) – Black Book® announces the results of its recent Mobile Usability survey, taking a closer look at how dealers, remarketers and other industry professionals are currently utilizing mobile technology via smartphone or tablets. The results shed light on just how fast the industry is becoming, with respondents saying mobile…
Added by Black Book on November 20, 2014 at 7:14am — No Comments
As you can hear in the attached video, we're ready to prove what has improved in equity data mining technology. DMDIRECT is poised to take on the challenge of all the rooftops ignored thus far by other data mining companies. We are also adding new technology that has never been available under one brand.
Added by John Fuhrman on November 18, 2014 at 10:53am — No Comments
Hello and welcome to this week’s edition of the Used Car Market Report, with insights from Ricky Beggs and Black Book. Thank you for taking the time to hear our thoughts on the market activity from the past week. During the conference there were multiple opportunities to hear from so many key industry personnel connected to CPO, lenders, recovery and repossessions and the traditional…Continue
Added by Black Book on November 17, 2014 at 9:58am — No Comments
Hello and welcome to this week’s edition of Beggs on the Used Car Market, with insights from Ricky Beggs of Black Book. It is the time of the year where I love the crisp cool mornings, the recent changing of the color of the leaves as they go from green, to yellow, red, orange to brown and finally fall to the ground. It is also that time of the year that I don’t get too warm and…Continue
According to Black Book® data, the average price of a used vehicle for model years 2009-2013 saw the largest monthly depreciation of the year so far at -2.0% during October. Domestic cars changed the most at -3.2%; import cars changed -2.3%; domestic trucks changed -2.1%; and import trucks changed -1.3%. Average pre-recession depreciation is historically between -1% and -2% monthly, and Black Book expects overall 2014 depreciation of -13.5%.
Two car segments saw at least -4.0%…
Added by Black Book on November 5, 2014 at 12:57pm — No Comments
Hello and welcome to this week’s edition of Beggs on the Used Car Market with insights from Ricky Beggs and Black Book. It has been an exciting week for the Editorial team at Black Book. The primary focus of looking at the actual wholesale market activity and values brought some interesting adjustments. More details on that in a few moments.
New products in the…
Added by Black Book on November 3, 2014 at 8:30am — No Comments
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
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
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
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
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
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
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
Bob visits a website searching for a new vehicle. As he filters down to the model he is considering, he is confronted with a seemingly endless list of stock photos with similar prices. Frustrated at the lack of information, he leaves and attempts his search on another site just to get the same…Continue
Added by Brian Cox on September 16, 2014 at 5:00am — No Comments
Thanks for tuning into this week’s edition of Beggs on the Used Car Market, with data and insights from Ricky Beggs and Black Book.
The movement in the market continues, and pretty much as was expected. The average segment change for both the cars and the trucks was at -$73 and -$64 respectively, a greater decline for both pieces of the market than the prior week. For the cars it was a very similar…Continue
Added by Black Book on September 15, 2014 at 8:26am — No Comments
24.9% of all car loans were 73 to 84 months long during the first quarter of 2014 according to Experian. This number continues to grow compared with just a few years ago. And while delinquencies are still at historic lows, how can auto lenders determine when vehicles entering their portfolio are expected to reach a position of equity?
Black Book is working with auto lenders to take a close look at comparative collateral data in order to spot this trend. The company recently…
Added by Black Book on September 15, 2014 at 6:17am — No Comments