Who else is working on this crappy Sat.

[digimon7068]

yes, F&I...for now with a 50% ownership to happen within the next 5 years.


It's tough to say, but so far YTD things are looking up, way up. I can't say that everything is 100% back to normal as of yet, but banks are loosening up and the buyers are too.

The hardest thing right now is getting inventory.

yes! and, it seems this is likely to be an on-going issue for a number of years (between cash-for-clunkers, decreased production and people driving their cars longer, the avaiable pool of used cars took a big-time beating)...if not, a permanent change in the industry...however, during the downturn, 10 to 15% of your competition disappeared and, the barriers to entry into the industry got higher, particularly with regard to obtaining enough floor-plan financing...the survivors are selling less cars (because the pool isn't there) but, to certain extent, they are able to command higher prices, especially for pickups and suv's.

 

[miplank]

yes! and, it seems this is likely to be an on-going issue for a number of years (between cash-for-clunkers, decreased production and people driving their cars longer, the avaiable pool of used cars took a big-time beating)...if not, a permanent change in the industry...however, during the downturn, 10 to 15% of your competition disappeared and, the barriers to entry into the industry got higher, particularly with regard to obtaining enough floor-plan financing...the survivors are selling less cars (because the pool isn't there) but, to certain extent, they are able to command higher prices, especially for pickups and suv's.

yeah...I'm buying less and less from the auction and more from private party now. That and dealer to dealer trades.

I really don't have an issue with floor plans, because the majority of my inventory is owned outright with 30-40% being floored.

Commanding higher prices is still a slippery slope...You can only charge so much because banks are only going to loan so much. Good news is Nada are making running adjustments and we're actually seeing inventory increase in value month to month which is unheard of on a depreciating asset.

 

[digimon7068]

yeah...I'm buying less and less from the auction and more from private party now. That and dealer to dealer trades.

I really don't have an issue with floor plans, because the majority of my inventory is owned outright with 30-40% being floored.

Commanding higher prices is still a slippery slope...You can only charge so much because banks are only going to loan so much. Good news is Nada are making running adjustments and we're actually seeing inventory increase in value month to month which is unheard of on a depreciating asset.

this will be a REAL NICE benefit come april 15th, for those that are using LIFO inventory methodology for income tax purposes

used car LIFO, artificially (and legally) inflates your cost of goods sold, thus decreasing gross profit and net income

 

[EnderJE]

I've been working since 9am even though its 86 and sunny out. It's my own fault though for not finishing some stuff earlier this week.

At least at 2 I get to go to an adorable little 1 year old's birthday party.

You're robbing the cradle.

 

[miplank]

I've been working since 9am even though its 86 and sunny out. It's my own fault though for not finishing some stuff earlier this week.

At least at 2 I get to go to an adorable little 1 year old's birthday party.

don't forget you ruined my saturday....

 

[AFeedz]

don't forget you ruined my saturday....

I toooold you I'd be back.

 

[miplank]

Stfu!

 

[PICK3]

You can only charge so much because banks are only going to loan so much.

quit selling cars to teh projects

 

[miplank]

quit selling cars to teh projects

 

[PICK3]

Urban Dictionary: projects