When they start the car-shopping process — much of which is spent online — 70 percent of Millennials are undecided as to what vehicle they want to purchase. However, by the time they get to your dealership, most already know which car they want to buy. And therein lies the two-fold opportunity for dealers when it […] [Read More]

Add this year’s National Remarketing Conference to the list of major industry events where discussion about the impact created by the Consumer Financial Protection Bureau is on tap. Wait a minute. You might be thinking the hallmarks of the NRC are connected with wholesale channels — vehicles moving from commercial consignors such as automakers and […] [Read More]

The key drivers to such strong growth in the new-car sales environment have more to with healthier economics than simply a carryover of pent-up demand — and one example of such a fortuitous sign has to do with leasing and lease returns. That’s according to prepared comments by Toyota executive Bob Carter at 2014 J.P. Morgan […] [Read More]

Car prices are on the way up, but there’s one problem. Income isn’t following the same path. Requisite Press LLC — after releasing its new Auto Buyer’s Affordability Index (ABAI) earlier this summer — recently reported car prices have outpaced incomes since the recession. The July 2014 ABAI reading of 53.5 indicates that median-income family […] [Read More]

Millennium Capital and Recovery Corp. recently achieved the SSAE 16, AT101 Service Organization Controls (SOC) 2 report representing the third consecutive year in which the recovery management service provider attained this coveted certification as recognized by the American Institute of Certified Public Accountants (AICPA).  Executives highlighted a SOC 2 examination is widely recognized because it […] [Read More]

The American Recovery Association recently reached a partnership with Harding Brooks Insurance and Northern Star Management to offer new benefits exclusively to all ARA members. Through this partnership, members will have the opportunity to take advantage of a variety of unique offerings, including performance-based dividend returns, interest-free payments and voluntary employee benefits such as life, […] [Read More]

Bankrate Inc. released its list of least and most expensive states to own a vehicle this week — with results that may surprise you. Although it has below-average repair, fuel and insurance costs, Wyoming marked the list as the most expensive state to own a vehicle. Why? Everything is so far apart — Wyoming residents […] [Read More]

During an early August conference call with the media, Kelley Blue Book senior analyst Alec Gutierrez said that leasing was accounting for a little more than 25 percent of all new-vehicle retail sales year-to-date, calling it a “key driver” behind the new-car market’s strength. That level beats 2013 lease penetration figures that averaged between 22 […] [Read More]

TrueCar Inc. announced recently the best month of the year for consumers to purchase a new vehicle. Despite the common belief that December is the best month to purchase new, the best month, based on average prices over the last five years, is August, with an average total new-vehicle price of $29,296, $169 lower than […] [Read More]

If you’re looking to get a dealer riled up, just ask him about his marketing plan. Here’s a quick sample of what I hear every day: “The more I put into marketing, the less I get back.” “Don’t tell me to invest more in marketing. Not until I see some kind of return.” “No one’s […] [Read More]