BANDON, Ore. -

CNW Research said Superstorm Sandy pulled about 250,000 used sales out of the market in October, but many of those buyers have come “roaring” back this month.

Analysts project this month’s used sales figure to come in at 3.04 million, which would represent a 17.6-percent jump from November of last year.

The prediction is coming with a bright forecast for dealers, as CNW thinks used sales will climb 39 percent at franchised dealerships while inventory turns will spike 41 percent at independent stores.

President Art Spinella conceded private-party sales are “taking it on the chin” this month with those transactions expected to be off by 23 percent.

Spinella articulated three reasons why dealers’ used sales are projected to strengthen so much in November.

“Casual sales are suffering because dealers are becoming increasingly aggressive in selling used cars and are having vehicles shipped into the Northeast from as far away as California to meet the demand,” Spinella said.

“Second, many individuals who would sell their cars privately in the Northeast simply lost those cars to Superstorm Sandy and have nothing to sell or had other issues to contend with,” he continued.

“Third, dealers are offering some pretty good prices across the country for solid used vehicles as trade-ins to meet the demand,” Spinella went on to say.

Subprime Approvals Up Again as Credit Card Use Rises for Down Payments

The year-over-year gain for subprime approvals this month isn't as strong as the jumps were in September or October, but CNW said the climb is still tracking nearly 50 percent higher.

Analysts indicated subprime approvals are 44.6 percent higher in November as compared to the same month a year ago.

In October, the year-over-year rise came in at 47.8 percent. September's jump was 62.5 percent, according to CNW.

As loan approval for buyers with less than stellar credit continues to move higher, Spinella mentioned, “Plastic is making a comeback as a source for making the down payment on a new vehicle, even though it’s frowned upon by lending institutions.”

Through the first 11 months of this year, CNW discovered more than 7 percent of new-vehicle purchases had a credit card used as part or all of the down payment. This level compares to the previous high-water mark in 2007 when slightly less than 7 percent of acquisitions were put on a credit card.

“The real concern, however, is how quickly that debt is paid off,” Spinella said.

In 1995, while only 3.4 percent of acquisitions had a credit card-based down payment, CNW noted more than 30 percent of that amount was paid off within 90 days.

But the most recent data shows less than 7 percent is paid off within 90 days, only a slight improvement versus 2011 (6.4 percent) and 2010 (5.6 percent).