Sometimes you see good news about the auto industry. Used car sales in the Cincnnati region are trending up. This is due undoubtedly to the pent up demand of buyers and their unwillingness to invest additional money into new vehicles.
The cars that are creating the greatest activity and sales for the Used Cars Cincinnati Dealers are the less than $10,000.00 cars. Some dealerships are beginning to advertise more aggressively in this lower sector of the used car market while others Used Car Cincinnati Dealers have dedicated websites for this price point.
The dealerships that should be holding their own on the used car side of the market are the traditionally higher volume new car franchises such as Toyota and Honda, provided they are carrying the lower end inventory. The influx of customers that these dealerships still receive can be parlayed into used car sales.
Intelligent and well thought out used car strategies will go along way in today's market conditions to assure profitablility and staying power among the Cincinnati auto dealers.
Tuesday, January 27, 2009
Monday, October 13, 2008
He Loves His Job
Times may be tough right now in the car industry, but Thomas Elliott is optimistic things will get better.
After all, in Atlanta, “Everybody’s got to have a car.”
As sales manager at Spartan Lincoln-Mercury in McDonough, an Atlanta Used Car Dealer, Elliott, 37, said his job is to move the inventory of the dealership’s new and used cars. “We drive traffic through the Internet,” he said, remarking that he fields calls from across the country as well as from Canada and Europe.
“It’s a real challenge, especially with the subprime market,” he said, noting that not long ago, the dealership worked with 50 banks to get car loans for customers. Now, they work with just 10.
Both the dealership and the lenders are much more careful about their due diligence on borrowers, he added. “We’re not sending the bank a questionable deal,” he said.
“We make sure the vehicle [the customer is buying] is in line with what the banks will loan money on,” Elliott said. “Our primary focus is to be competitive on pricing, get traffic from the Internet and then sell those vehicles.”
Elliott also is responsible for making sure the dealership’s supply of new vehicles is in line with what the buyers want. And he is the coach and motivator for the dealership’s sales force.
In addition to selling new vehicles, Elliott also must keep up the supply of used vehicles coming into the dealership, he said. “The used car supply is drying up,” he said.
People are holding on to their cars longer, and overseas buyers are snapping up bargains at auto auctions. In the Mideast and China, he said, there are buyers for larger cars and sport utility vehicles that are less popular with Americans right now.
“They can drive those vehicles,” he said. “Those used to be our bread and butter.”
In the business, he said, “I make sure we can buy at a price where we can sell it and make a profit.”
What got me interested in this
“Necessity,” Elliott said.
Before entering the auto industry, Elliott was a technical consultant and salesperson with a major accounting firm and smaller software company. However, in 2003, he was laid off as those industries suffered their own problems.
He turned to the auto industry in part because his uncle had been in the car business for 30 years and his older brother sold cars for 12 years. “The family was in the car business,” he said.
While Elliott thought he would be selling cars for only a few months, he discovered he likes the business, was promoted to sales manager and stayed.
Best part of my job
“Working for a family-owned dealership, especially in tough times,” he said. “I’m still gainfully employed.”
Spartan is owned by Don Jackson, who also has several other dealerships in the Atlanta area.
Most challenging part
“Slow days,” he said. Sometimes, the dealership will be full of people shopping for cars, but other days the showroom can be nearly empty.
What people don’t know about my job
“We’re really in it to do the deal,” Elliott said. “We’re not greedy people. We’re willing to do what it takes.”
He added, “It’s all about getting new customers” for the long term, who become customers for the dealership’s service department and who will come back for their next car as well.
What keeps me going
“Every day is a new challenge,” he said. “How are we going to get more people to come into the showroom?”
He said there is always the need to sell more cars next month. “How can we continue to keep everything moving?”
Preparation needed for this job
“It’s all about personality, relating to the customer’s needs,” Elliott said.
In addition, a salesperson needs to be good at math, and “when a customer gives an objection, knowing how to overcome it.” You also have to be able to think on your feet and know both the product and financing options. “It’s all about relationships and being creative,” he said.
Whether he’s selling cars or software, it isn’t that different, he said.
While a college degree is not necessary for sales, Elliott has a bachelor’s degree in financial management from Virginia Tech and has taken ongoing sales training and has sales and management certifications from both the dealership and Lincoln-Mercury.
Elliott was in technical consulting and sales for Ernst & Young and in software sales for MarketWorks, which makes sales software for small businesses.
Before he began what he called “real jobs,” Elliott played professional basketball in the National Basketball Association —- briefly for the former Charlotte Hornets —- and in Europe. His basketball career ended after an injury, he said.
After all, in Atlanta, “Everybody’s got to have a car.”
As sales manager at Spartan Lincoln-Mercury in McDonough, an Atlanta Used Car Dealer, Elliott, 37, said his job is to move the inventory of the dealership’s new and used cars. “We drive traffic through the Internet,” he said, remarking that he fields calls from across the country as well as from Canada and Europe.
“It’s a real challenge, especially with the subprime market,” he said, noting that not long ago, the dealership worked with 50 banks to get car loans for customers. Now, they work with just 10.
Both the dealership and the lenders are much more careful about their due diligence on borrowers, he added. “We’re not sending the bank a questionable deal,” he said.
“We make sure the vehicle [the customer is buying] is in line with what the banks will loan money on,” Elliott said. “Our primary focus is to be competitive on pricing, get traffic from the Internet and then sell those vehicles.”
Elliott also is responsible for making sure the dealership’s supply of new vehicles is in line with what the buyers want. And he is the coach and motivator for the dealership’s sales force.
In addition to selling new vehicles, Elliott also must keep up the supply of used vehicles coming into the dealership, he said. “The used car supply is drying up,” he said.
People are holding on to their cars longer, and overseas buyers are snapping up bargains at auto auctions. In the Mideast and China, he said, there are buyers for larger cars and sport utility vehicles that are less popular with Americans right now.
“They can drive those vehicles,” he said. “Those used to be our bread and butter.”
In the business, he said, “I make sure we can buy at a price where we can sell it and make a profit.”
What got me interested in this
“Necessity,” Elliott said.
Before entering the auto industry, Elliott was a technical consultant and salesperson with a major accounting firm and smaller software company. However, in 2003, he was laid off as those industries suffered their own problems.
He turned to the auto industry in part because his uncle had been in the car business for 30 years and his older brother sold cars for 12 years. “The family was in the car business,” he said.
While Elliott thought he would be selling cars for only a few months, he discovered he likes the business, was promoted to sales manager and stayed.
Best part of my job
“Working for a family-owned dealership, especially in tough times,” he said. “I’m still gainfully employed.”
Spartan is owned by Don Jackson, who also has several other dealerships in the Atlanta area.
Most challenging part
“Slow days,” he said. Sometimes, the dealership will be full of people shopping for cars, but other days the showroom can be nearly empty.
What people don’t know about my job
“We’re really in it to do the deal,” Elliott said. “We’re not greedy people. We’re willing to do what it takes.”
He added, “It’s all about getting new customers” for the long term, who become customers for the dealership’s service department and who will come back for their next car as well.
What keeps me going
“Every day is a new challenge,” he said. “How are we going to get more people to come into the showroom?”
He said there is always the need to sell more cars next month. “How can we continue to keep everything moving?”
Preparation needed for this job
“It’s all about personality, relating to the customer’s needs,” Elliott said.
In addition, a salesperson needs to be good at math, and “when a customer gives an objection, knowing how to overcome it.” You also have to be able to think on your feet and know both the product and financing options. “It’s all about relationships and being creative,” he said.
Whether he’s selling cars or software, it isn’t that different, he said.
While a college degree is not necessary for sales, Elliott has a bachelor’s degree in financial management from Virginia Tech and has taken ongoing sales training and has sales and management certifications from both the dealership and Lincoln-Mercury.
Elliott was in technical consulting and sales for Ernst & Young and in software sales for MarketWorks, which makes sales software for small businesses.
Before he began what he called “real jobs,” Elliott played professional basketball in the National Basketball Association —- briefly for the former Charlotte Hornets —- and in Europe. His basketball career ended after an injury, he said.
Tuesday, September 16, 2008
Ike has it's way with Cincinnati Businesses
All over Greater Cincinnati, businesses were closed. Signs indicating so were taped to the front doors of establishments across the region. The gist was the same everywhere, but some got the point across in more interesting language.
Used Cars Cincinnati SuperStore Beechmont Subaru has been closed for 2 days "Due To Power Outage".
At Old Navy in Rookwood, shoppers were welcome but “Fitting Room Is Closed Due To No Lighting.”
Whole Foods Market looked on the bright side: “We Should Be Open Tomorrow.”
At Busken’s 24-hour bakery in Hyde Park: “Our Ovens Are Still Baking.”As might be expected, notices along funky Ludlow Avenue in Clifton were done with a little more flair.
At the Esquire Theater: “Due to repetitive power outages, we are unable to show films.”
Pangaea was experiencing “a distinct lack of electricity.”
And our favorite, on the door at store Toku Baru: “Watch For Flying Limbs…Tree Limbs!”
Used Cars Cincinnati SuperStore Beechmont Subaru has been closed for 2 days "Due To Power Outage".
At Old Navy in Rookwood, shoppers were welcome but “Fitting Room Is Closed Due To No Lighting.”
Whole Foods Market looked on the bright side: “We Should Be Open Tomorrow.”
At Busken’s 24-hour bakery in Hyde Park: “Our Ovens Are Still Baking.”As might be expected, notices along funky Ludlow Avenue in Clifton were done with a little more flair.
At the Esquire Theater: “Due to repetitive power outages, we are unable to show films.”
Pangaea was experiencing “a distinct lack of electricity.”
And our favorite, on the door at store Toku Baru: “Watch For Flying Limbs…Tree Limbs!”
Saturday, September 13, 2008
Rising Gas Prices Driving Used Car Sales
The cost of owning a car keeps rising and rising thanks to the escalating gas prices throughout the nation. As if cars need to be made more expensive to on and drive, the gasoline prices are driving many consumers to used car lots.
There are many used car dealers realizing gains in their used car sales as a result. Cincinnati Used Cars are seeing an uptick in their sales during the same time that the Cincinnati New Cars are dropping.
The ability to find a low mile, 4-cylinder used car is the trick for the consumer. Dealerships that were forward thinking enough to plan ahead and invest heavily in this inventory are now reaping the benefits.
There are many used car dealers realizing gains in their used car sales as a result. Cincinnati Used Cars are seeing an uptick in their sales during the same time that the Cincinnati New Cars are dropping.
The ability to find a low mile, 4-cylinder used car is the trick for the consumer. Dealerships that were forward thinking enough to plan ahead and invest heavily in this inventory are now reaping the benefits.
Saturday, July 26, 2008
A Slight Positive Turn In The Market
For the first time in quite a while, the used truck and SUV market is experiencing a slight uptick in used vehicle values.
With the recent, every so slight, downward adjustment in gasoline prices, the truck and SUV used car values are showing a bit of a recovery. Used Car Cincinnati Dealers are reporting higher prices at the local auctions for the SUVs and trucks. West Coast Dealers and East Coast Dealers alike are experiencing similar trends. This is music to many of the local dealers that are flooded with trade requests for customers wanting to rid themselves of these gas guzzlers.
Even though customers are anxious to move onto smaller, more fuel effecient models, trading them out of the SUV ot truck they may have is very difficult. The local consumer is amazed at how much their vehicle has depreciated.
This is supply and demand working very much against this particular segment of the automotive market.
It will be interesting to see as the summer progresses if the gas prices continue to drop and how much of an effect it will have on this segment.
With the recent, every so slight, downward adjustment in gasoline prices, the truck and SUV used car values are showing a bit of a recovery. Used Car Cincinnati Dealers are reporting higher prices at the local auctions for the SUVs and trucks. West Coast Dealers and East Coast Dealers alike are experiencing similar trends. This is music to many of the local dealers that are flooded with trade requests for customers wanting to rid themselves of these gas guzzlers.
Even though customers are anxious to move onto smaller, more fuel effecient models, trading them out of the SUV ot truck they may have is very difficult. The local consumer is amazed at how much their vehicle has depreciated.
This is supply and demand working very much against this particular segment of the automotive market.
It will be interesting to see as the summer progresses if the gas prices continue to drop and how much of an effect it will have on this segment.
New data shows used SUVs, pickup trucks declining in value as gas prices rise
Publish date: Jul 24, 2008
According to the most recent AuctionNet data released by the NADA Used Car Guide, a major market shift driven by high fuel costs and low consumer confidence has resulted in a declining average wholesale price of used sport utility vehicles (SUVs), pickup trucks, crossover utility vehicles (CUVs) and vans. The results, which are representative of the second quarter 2008, also show that used passenger car prices have increased during the same time period.
"Fuel prices continue to be the dominant factor in resale values," says Terrence W. Wynne, director of editorial and data services for the NADA Used Car Guide.
"Within NADA sub segments, we estimate that for every $1 increase in gas, large pickups decline in value by $2,200, on average," he adds. "By contrast, for intermediate compact cars, a $1 increase in fuel costs lifts resale prices by an estimated $980. These estimates do vary on younger and older vehicles."
The data reflects a continuing shift in demand by consumers and automobile dealers to more fuel-efficient vehicles as gas prices climb and consumer confidence falls.
Used pickup truck and SUV prices led the declines, with wholesale prices falling 11.2 and 9.6 percent respectively on 1-to-5 year old vehicles. They were followed by CUVs and vans, with values falling 3.8 and 3.0 percent respectively.
Used passenger cars were the only segment showing price gains, up 3.5 percent, driven largely by strong demand in the compact and midsize segments.
As a result, the $3,500 price premium that SUVs and pickup trucks have historically held over passenger cars has diminished significantly. Pickup truck prices have fallen to levels nearly equal to passenger cars, while the gap is closing between SUVs and cars.
The median age of SUVs for sale at auctions increased by more than a year to 42 months from 29 months in the April, May and June quarter compared to the first three months of the year, indicating a continued migration out of this segment and more consumers trading in older SUVs.
Wynne pointed out that the NADA Used Car Guide is responding by making "fairly aggressive" devaluations of SUVs and pickup trucks through the end of this year. "It is evident that this is a long-term depreciation trend as opposed to volatile, near-term price behavior," he says.
For more information about NADA and its used car guide, visit the group's Web site.
According to the most recent AuctionNet data released by the NADA Used Car Guide, a major market shift driven by high fuel costs and low consumer confidence has resulted in a declining average wholesale price of used sport utility vehicles (SUVs), pickup trucks, crossover utility vehicles (CUVs) and vans. The results, which are representative of the second quarter 2008, also show that used passenger car prices have increased during the same time period.
"Fuel prices continue to be the dominant factor in resale values," says Terrence W. Wynne, director of editorial and data services for the NADA Used Car Guide.
"Within NADA sub segments, we estimate that for every $1 increase in gas, large pickups decline in value by $2,200, on average," he adds. "By contrast, for intermediate compact cars, a $1 increase in fuel costs lifts resale prices by an estimated $980. These estimates do vary on younger and older vehicles."
The data reflects a continuing shift in demand by consumers and automobile dealers to more fuel-efficient vehicles as gas prices climb and consumer confidence falls.
Used pickup truck and SUV prices led the declines, with wholesale prices falling 11.2 and 9.6 percent respectively on 1-to-5 year old vehicles. They were followed by CUVs and vans, with values falling 3.8 and 3.0 percent respectively.
Used passenger cars were the only segment showing price gains, up 3.5 percent, driven largely by strong demand in the compact and midsize segments.
As a result, the $3,500 price premium that SUVs and pickup trucks have historically held over passenger cars has diminished significantly. Pickup truck prices have fallen to levels nearly equal to passenger cars, while the gap is closing between SUVs and cars.
The median age of SUVs for sale at auctions increased by more than a year to 42 months from 29 months in the April, May and June quarter compared to the first three months of the year, indicating a continued migration out of this segment and more consumers trading in older SUVs.
Wynne pointed out that the NADA Used Car Guide is responding by making "fairly aggressive" devaluations of SUVs and pickup trucks through the end of this year. "It is evident that this is a long-term depreciation trend as opposed to volatile, near-term price behavior," he says.
For more information about NADA and its used car guide, visit the group's Web site.
Used Car Loans - A Luxury You Can Afford
07.26.08 (12:32 am)
You dream of owning a car but find impossible to purchase it. If that is the state you find yourself in then used car loans can help you own a car. Having a car is now not the privilege of the elitist any more. With the help of used car loans it has become an option that everyone can avail.
Used Car Loans as the name suggests are loans offered to people who want to buy second hand or used cars but cannot afford it. The reason may vary from person to person but the prime reason being that people find it too expensive and financially unaffordable.
Getting used car loans now days is no longer a difficult task. All you need to do is to go online and search for a lender or organization that provide used car loans. Before applying for a loan, you should know where you stand as far as your finances are concerned because you have to be prepared for repayment of the loan after a certain time period. Find out answers to the following questions:-
Which car do you want to buy?
What is the cost of that car?
How will it affect you financially?
After you have got answers to all your questions all you need to do is go online and fill in loan application form with your details. After that, the lenders or the organization will refer back to you with a loan decision. An important factor that the borrowers are always concerned about is the price of the car. If you are also the one who looks out for the price then you should know what blue book is? Formally, it is known as Kelly blue book and it is an industry guide to calculate the wholesale and retail prices of used and new cars. It can help you in calculating a correct price for the car that you want to purchase. For the convenience of customers, these are available online too.
Used car loans are available in both secured and unsecured loan forms. If you want secured loans all you need is to provide collateral to the creditor which may be your car, your home or any other asset. This method of taking used car loans allows the borrowers many benefits like low interest rates and easy repayment schedules. The second alternative to the borrowers is that of unsecured loans where you do not provide any collateral to the creditors. This can result in paying of higher interest rates than usual.
Used car loans are now available to everybody, even to people who have had a history of bad credit i.e. people with defaults, arrears, who have previously filed for bankruptcy or have been adjudged bankrupt, and with IVA's. Lending organizations have now opened the doors for those people who were earlier refused loans. So if you are a person with bad credit history you can also get used car loans. All lending organizations just need is a credit score of yours, which would be based on how you managed your previous debt repayments. An advantage of applying for used car loans for people with bad credit history is that they can now improve their credit score if they follow the terms of agreement thoroughly.
Cars are fantasies of many people but not everyone can afford them. Nowadays, with the advent of car loans everyone can get a car, or at least a used car. Used car loans are available in both secured and unsecured forms; hence, they can serve every class of people. Therefore, even if you have financial problems you can get used car loans tailor made to your requirements.
Alex Jonnes is associated with Easy Debt Consolidations. He is Masters in Business dministration and writes on various finance related topics. To find Debt consolidation loan bad credit, debt consolidation loan loest interest rates visit www.easy-debt-consolidations.co.uk
Source:www.articlealley.com/article_37169_19.html
You dream of owning a car but find impossible to purchase it. If that is the state you find yourself in then used car loans can help you own a car. Having a car is now not the privilege of the elitist any more. With the help of used car loans it has become an option that everyone can avail.
Used Car Loans as the name suggests are loans offered to people who want to buy second hand or used cars but cannot afford it. The reason may vary from person to person but the prime reason being that people find it too expensive and financially unaffordable.
Getting used car loans now days is no longer a difficult task. All you need to do is to go online and search for a lender or organization that provide used car loans. Before applying for a loan, you should know where you stand as far as your finances are concerned because you have to be prepared for repayment of the loan after a certain time period. Find out answers to the following questions:-
Which car do you want to buy?
What is the cost of that car?
How will it affect you financially?
After you have got answers to all your questions all you need to do is go online and fill in loan application form with your details. After that, the lenders or the organization will refer back to you with a loan decision. An important factor that the borrowers are always concerned about is the price of the car. If you are also the one who looks out for the price then you should know what blue book is? Formally, it is known as Kelly blue book and it is an industry guide to calculate the wholesale and retail prices of used and new cars. It can help you in calculating a correct price for the car that you want to purchase. For the convenience of customers, these are available online too.
Used car loans are available in both secured and unsecured loan forms. If you want secured loans all you need is to provide collateral to the creditor which may be your car, your home or any other asset. This method of taking used car loans allows the borrowers many benefits like low interest rates and easy repayment schedules. The second alternative to the borrowers is that of unsecured loans where you do not provide any collateral to the creditors. This can result in paying of higher interest rates than usual.
Used car loans are now available to everybody, even to people who have had a history of bad credit i.e. people with defaults, arrears, who have previously filed for bankruptcy or have been adjudged bankrupt, and with IVA's. Lending organizations have now opened the doors for those people who were earlier refused loans. So if you are a person with bad credit history you can also get used car loans. All lending organizations just need is a credit score of yours, which would be based on how you managed your previous debt repayments. An advantage of applying for used car loans for people with bad credit history is that they can now improve their credit score if they follow the terms of agreement thoroughly.
Cars are fantasies of many people but not everyone can afford them. Nowadays, with the advent of car loans everyone can get a car, or at least a used car. Used car loans are available in both secured and unsecured forms; hence, they can serve every class of people. Therefore, even if you have financial problems you can get used car loans tailor made to your requirements.
Alex Jonnes is associated with Easy Debt Consolidations. He is Masters in Business dministration and writes on various finance related topics. To find Debt consolidation loan bad credit, debt consolidation loan loest interest rates visit www.easy-debt-consolidations.co.uk
Source:www.articlealley.com/article_37169_19.html
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