CARY, N.C. –

Along with co-host Jennifer Reid from Equifax, Used Car Week held its first-ever DealerChat via Twitter on Wednesday.

Reid and her team from Equifax, along with other Twitter Chat participants from the remarketing space, fielded a variety of questions about top dealer trends, finance, Used Car Week and more.

Here are five of the top key takeaways from Reid and others during the debut DealerChat:

  • It’s vital that dealers put the customer first; emphasize the value you bring and focus on a customer-friendly process.
     
  • Given the intense ramp-up of regulation from the CFPB, compliance management is huge for dealers.
     
  • The Web has created a greater emphasis on transparency and demand for more channels for purchasing — these are (and will continue to be) part of the evolution in car-shopping.
     
  • Nearly a third of auto loan originations are from subprime customers.
     
  • The Millennial generation is one with its own set of car-buying behaviors and preferences.

To see the complete conversation, filter your Twitter search by #DealerChat.

Stay tuned to Auto Remarketing and follow @UsedCarWeek on Twitter for details on how you can get involved with the next DealerChat. 

And be sure to register NOW for Used Car Week and save $200. The early registration deadline is Friday.