The price of used cars is increasing, however, some consumers fail to get the most productive treatment imaginable for their exchange because they don’t even invest a little time and effort, according to Joe Neiman, Director of Customer Success at ACV Auctions.a former used car dealership.
“Some consumers walk in and the message they convey is this:” I’m in a position to kill my car. “If you’re looking to take advantage of your most productive offering, it’s not the most productive angle to take. Be proud of the vehicle you’re on. exchanging, “he said in a telephone interview.
The costs of used vehicles are emerging in components because the US automotive industry is emerging.Hus It is taking longer than expected to boost production of new cars, following previous coronavirus closures this year.maximum costs for new cars.
ACV, founded in Buffalo, New York, has a virtual used car auction site reserved for runners.Neiman said ACV’s specific expertise to generate very detailed reports on the condition of used cars for rider customers, on thousands and thousands of used cars and trucks.
Dealers use the reports, which according to Neiman come with 60 photos, a virtual “scan” of the bottom of the vehicle, information about the emissions and other engine purposes downloaded directly from the vehicle, and even an audio recording of the running engine, to price.used vehicles.
Surprisingly, other people show up at a dealership to change their vehicle without even bothering to wash it, he said.
“Clean your car. Maybe you’ll pay the $150 or so to make everything detailed,” Neiman said.”It may be the difference of $500 or $1,000 more,” for the car, he said.
According to a separate August 27 report from another used car auction company, KAR Global, Carmel, Indiana, the average wholesale auction price, reserved for dealerships, for automobiles and trucks combined $13,375 in July, an increase of 16.8% during Arraya’s year.Ago. This is a widely cited reference for the latest trend in used vehicle values.
Part of the increase is due to the sale of a smaller quantity and the higher average quality of the vehicles, depending on their age, mileage and condition, etc., said Tom Kontos, leading economist at KAR Global Analytical Service.
At the same time, distributor requests, driven through customer requests, are also raising prices.”These strong market situations continued in August,” Kontos said.
However, Neiman of ACV stated that consumers looking to sell their used cars at a dealership should be prepared.
“Keep your name handy. Many other people don’t know where the name is.If you still have a loan to repay, know how much you owe for the car,” he says.
It also helps a lot if you have the car’s maintenance history, Neiman said.”I’m firmly in the pedigree. If you have a stack of receipts and have a Lexus you bought from Lexus brokerage, and the broker has Done each and every oil drain and all the service, then your credibility is reinforced, and in the state of the car,” he says.
A word of advice? Put fuel in the car, says Neiman.
“It’s going to sound so ridiculous, ” he said. But leave it in half a gas tank.Being in a smoke-powered car with low fuel on sends a message that you simply drive and that you’ll accept it all for that.It’s having $20 of fuel in the tank, so it looks like you’d take it home.”
I am a journalist with more than 25 years of experience writing and running in the automotive industry.After graduating from the University of North Carolina with a degree in journalism,
I am a journalist with more than 25 years of experience writing and running in the automotive industry.After graduating in journalism from the University of North Carolina-Chapel Hill, where I won the Morehead Scholarship, I started with the much-loved Nashville Banner, My Speed included Saturn Corp.of GM in the Spring Hill, Tennessee field, when the plant was still a hole in the ground, plus Nissan’s giant plant nearby.This became an article in Automotive News, the industry-leading advertising newspaper, such as the New York City Individual Office, which covers European luxury brands, Wall Street, publicly traded broker groups, retail car finance, and monthly car sales.Mercedes-Benz USA gave me a privileged perspective. More recently, my independent assignments have included Advertising Age, Automotive News, AutoWeek, Bankrate.com, Businessweek.com, CBS Interactive, T l Financialist through Credit Suisse, ForbesAutos.com and Forbes.com.I’m also the former editor of Auto Finance News in New York.