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Certified used vehicles, the fastest-growing segment of the used-car market, were barely a blip on radar screens at mainstream U.S. auto
dealerships seven years ago. Today, dealers across the country market the near-new cars with limited warranties, which have emerged as a third tier in auto selling, according to the Sacramento Bee.
Used-car sales are relatively flat, but sales of
certified used vehicles are expected to top 1 million for the first time this year -- a 40 percent increase from 2001.
For consumers, the good news is virtual elimination of "buyer beware" fears. For dealers, certified used vehicle (CUV) programs enable them to sell used cars at higher asking prices because they've invested time and money to inspect and upgrade the vehicles.
The increasingly important profit center continued making gains in the first quarter, according to StoneEagle data, ancillary products proving more popular as consumers hold onto their buys longer.
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For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
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In this video, Ryan Ruff explains the rule that elite sales professionals use to turn ordinary conversations into unforgettable customer experiences.
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What’s the atmosphere saying about you to your customers? You can make minor adjustments and additions that transform your space into one that creates trust with the people on the other side of the desk.
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How can auto dealerships help F&I managers fulfill their vital role in the most effective ways? Industry expert Rick McCormick shares his insights on the best ways to train these professionals and help them maintain good habits.
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More consumers and businesses are opting for all-season options for various reasons as safety, sustainability and convenience push practical change.
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It’s time to take the next digital step to free F&I managers to handle the most challenging aspects of customer meetings.
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Some of it should be given to the customer, but that doesn’t mean the F&I office relinquishes the process. In fact, a different approach both builds trust and boosts sales.
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Talk to F&I customers like you’d talk to a friend, without industry lingo or sales-like questions, and use hard proof to show, not tell, them about a need.
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