Used Car Dealers

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Used Car Dealers

In recent months used car dealers have been in a bit of a slump due to lower incentives on new cars. Some new car dealerships are currently offering interest-free loans for the purchase of a new car, luring potential used car customers away from used car dealers. That's good news for new car dealers and new car consumers, but not necessarily good news for used car retailers. Many used car dealers have seen used car sales fall off by as much as 75 percent. That has really put a hurt on a lot of the smaller used car dealers relying solely on sales of used cars.

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Used Car Sales

In a recent interview with a very prominent used car salesman, he describes sales as very slow. He explains: "The only used cars selling right now are the one's that don't have the huge cash incentive on them, and that my friend, does not leave us with a lot to sell".

According to the some state's Department of Revenue, taxes produced from used car sales dropped 5 percent in the state's fiscal year that ended June 30. Income from other sources, such as retail sales, rose. Revenue during the first fiscal-year quarter showed an even steeper decline at 12 percent.

How to Increase Used Car Sales

Its time to advertise, try new promotions, purchase auto loan leads, stock the used car inventory with different kinds of cars that will attract a different kind of used car customer. If your dealership does not offer options for a special financing bad credit car dealit will be hard to establish yourself as a car lots that finance bad credit. Your dealership is losing thousands of dollars each month not being able to finance lower credit car buyers. From past experiences, people with bad credit tend to invade dealers when times are hard. Used car dealers should view these options as an investment to remain competitive in an ever changing used car market combined with bad credit buyers.

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