Car Dealership Guy’s Post

Incentives for #auto buyers have grown 2.5%, which means more opportunity for dealers and lenders to put buyers in the right vehicles. Here is what Risk Advisor, Thomas Aliff, has to say about how you can best position yourself to succeed in an increasingly competitive auto market. #automotive

You may have read about #SocialInflation, but are you aware of the magnitude of loss it could cause for your dealership with increasingly large claims settlements and jury awards? Find out more about this pressing topic as well as other factors influencing large loss risks for auto dealerships. https://lnkd.in/gxuNsXdb #auto

You may have read about #SocialInflation, but are you aware of the magnitude of loss it could cause for your dealership with increasingly large claims settlements and jury awards? Find out more about this pressing topic as well as other factors influencing large loss risks for auto dealerships. https://lnkd.in/gxuNsXdb #auto

I hear it stated a lot that “EVs are sitting in dealer lots because nobody wants them” and also “EVs are not affordable by the average car buyer”. Seems as though these naysayers are forgetting about the average details of the entire car market and focusing only on EVs. Take a look below and remember that the 2024 Model 3 Highland is now available in the U.S. starting at just under $39,000, Tesla Model Y at $35,490, Kia Niro at 26,940, Kia EV6 at $42,600, Hyundai Kona EV at $32,675 and the Hyundai Ionia 5 at $41,800 to name a few. With $47,401 as the average price of all new cars it sure seems like the naysayers are “ig-nay-ring” the real facts. https://lnkd.in/gDzEk48R

Before you finance that Ford Ranger, remember these key things you need to keep in mind. All too often we see business owners (goes for everyone) buy a vehicle and not think about things like: - Loan term - Early repayment ability - Interest rates and others Get all of the information and don't just think about the vehicle in the here and now. Think about what this decision will mean for the lifetime of the loan. Be better informed!

Insuring Test Driven and Loaner Autos…PAP or BAP? An auto dealership customer damages a loaner car or one being test driven. Is this covered by the customer’s personal auto policy? If so, is it primary or excess? What about the dealership’s garage policy? What about subrogation? Could this a problematic situation? https://lnkd.in/gQbTp-89

How the car market is adjusting to interest rates and inflation — JT Taylor | Truist Securities: … which placed heavy pressure on car buyers and retailers alike. … joined by JT Taylor, managing automotive director at Truist Securities, … ’s perspective into the automotive sector’s financial and … 2024. Taylor notes that their hybrid lineup is driving sales. … #car #cars #awesome

This little claim crossed my desk this morning and I just had to share it. First, I like EVs, and this is not intended to be anti EV. This vehicle had a book value of $68,675 in December of 2022 which was great as these vehicles had been holding their values quite well. The Lender made a 72-month loan at a reasonable LTV of 101% and everything seemed fine until someone rearended this 2018 Tesla Model X in August 2024. 😒 Well, the cost to repair was going to be much more than the current market value as determined by CCC. This is where I normally complain about CCC, but in this case their valuation was pretty good and almost matched the JD Power retail value of $28,600. Yep, in 19 months this pretty little car depreciated by 58.35% and the GAP claim is $21,387.61!!! 😀 This member did elect the GAP protection and can now move forward and not have the burden of making payments on a car that he does not have any more. Not all loans need GAP, but this a great example of how fast things can change and that no one can predict the future.

What's in your financial garage — a Ferrari or a Toyota Camry? 👉 Watch now: https://bit.ly/3VUZirm #InvestmentChoices #FinancialPlanning #BaseWealth #WealthManagement #SmartInvesting #PortfolioDesign

If you're not confused, you're not paying attention. Are EVs the future or doomed? 🚗 I don't get it. GM just recorded a record quarter of EV sales. The 32,095 cars were up 60% y-o-y. 50% of the buyers were new to GM. GM's Rory Harvey: "... we have an all-electric vehicle for just about everybody, no matter what they like to drive." These statements irritate me. Immediatly, I think: "So you want to be everything to everybody?" GM claims that their market share went from 6.5% in Q1 to now 9.5%. Reading EV and ICE posts on LinkedIn you don't know what to believe. So many vested interests. Still surprised that good ol' GM rocks the EV boat now. Or don't they? ---- *** No investment advice. Personal opinion only. Do your own research *** ---- Not warning enough? I give you a proper disclaimer: Past performance is not indicative of future returns. As a result of currency fluctuations, the return for investors with different reference currencies may rise or fall. Forecasts are not a reliable indicator of future developments. And finally, this post does not constitute an offer to buy or sell or a solicitation of an offer to buy or sell securities. And certainly no auto companies. They are on the too hard pile. Now you know it all. ----