Sunday, June 13, 2021
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F&I

Four tips for a top-notch virtual F&I sales experience

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Many industry experts are predicting that a slow exit from the worst of the COVID-19 pandemic and its effects on dealerships will force many to continue a trend towards offering digital or ‘no-touch’ deliveries. That means F&I being done online with more frequency and buyers taking delivery at their homes. It really may be an […]
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history

How dealers can use vehicle history reports to make the...

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Vehicle history reports (VHR) serve as a window into a car’s past for any potential buyer and for dealerships. The reports can provide a wealth of information, including but not limited to accident, damage and theft histories, title information, and a vehicle’s market value. VIN information is tracked and stored across various national and state […]
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delivery

Home delivery, reconditioning bookend digital retailing

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According to Cars.com, 61% of car buyers want their newly purchased vehicle home-delivered. 75% of dealers are now providing some form of home delivery option. Thank the COVID pandemic for kick-starting these percentages. However, we can‘t ignore the aggressive home-delivery consumer marketing by Vroom, Carvana and others for setting the desire and high expectations for this delivery option. […]
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Deloitte

Deloitte report finds affordability concerns have affected main demographics

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The 2021 Global Automotive Consumer Study by Deloitte unveils that as many as 23% of millennial car owners opted to defer car payments in 2020 amid the pandemic recovery. Although just 1 in 10 car owners chose to defer one or more car payments during the year, the rate more than doubles among 18 to 34-year-olds. As […]
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buyers

Q4 car buyers making bigger purchases, putting more money down

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During the fourth quarter of 2020, the average down payment for new vehicle buyers increased notably from $4,329 a year ago to $4,734. Over that same time frame, total purchase price as well as monthly payments rose compared with previous quarters and Q4 2019. December purchases were the highest of the year, according to Edmunds data. This […]
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pandemic

Pandemic vehicle purchases kicked truck sales into high gear

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A new study from CarGurus is revealing a trend in auto retail toward larger vehicle purchases, particularly pickup trucks. The 2020 Pickup Truck Sentiment Study consists of responses from truck owners in the midst of the pandemic in September and compares the results from similar data compiled in February this year. It demonstrated differences in […]
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vehicle

Tips for effective vehicle merchandising and marketing – Part 2

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Customers Don’t Always Come Through the Front Door As discussed in part one, the virtual showroom may seem similar to the brick-and-mortar store, but there’s no single entry that you can control. Links that drive the person to the site could land them onto the homepage, a vehicle landing page, inventory search, etc. A recent […]
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accessories

Is There Value in Aftermarket Accessories and Performance Upgrades?

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According to a recent study by the Specialty Equipment Market Association (SEMA), young car enthusiasts ages 16 to 24 spend $7.2 billion each year customizing their vehicles. “More than 7.9 million young people customize, modify or upgrade their vehicles each year,” says SEMA Director-Market Research Gavin Knapp. “Their vehicles not only help them get from […]
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ev buyers

What Do EV Buyers Look Like?

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The 2019 fourth-quarter Experian Automotive Quarterly Briefing has been released. Its pages detail numerous segments in auto retail from used car ownership changes to new vehicles in service, and broken down into segments. One enlightening section highlights data regarding a growing customer base, the electric vehicle buyer.  Where are Electrics Vehicles Most Frequently Purchased? A […]
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questions

Are Buyers Liars? Ask Questions That Get Honest Answers

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As long as I have been in the car business, I’ve heard salespeople and managers jokingly use the cliché “Buyers are liars.”  When I ask them when they believe buyers are liars, they all respond with the same answer, “When their lips are moving.” I am not sure which concerns me more, the idea that […]
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