The cost of new vehicles is climbing more and more very year.
If you are in the market for a brand new car or truck, you will be faced with a hefty price tag.
While this may be bad news to a new car buyer, it presents a different picture to those consumers who may be interested in a used car as well as some bright opportunities for used car dealers.
Prices Climb To New Highs
In December 2017 the price of a new vehicle hit the highest point in history. It has never cost more money to purchase a new car. As new vehicle prices rise, and buyers become increasingly sticker-shocked, used car dealers have a great opportunity to solicit consumers and promote the value that a used car can offer. Used vehicles are typically a fraction of the original price, yet they often offer the same reliability and the same amenities of a new car.
According to an article on DrivingSales.com, “The bottom line for the buyers is that, by buying from a reputable used car dealership, they can really maximize their bang for buck—either stretching their auto loan further or even avoiding loans altogether in favor of a cash transaction.”
Used car dealers should take this opportunity to highlight their value and the value of a reliable and affordable used car over the overly expensive new vehicle market.
Used vehicles offer a buying alternative for a variety of consumers. They are offered at much lower prices than brand new cars and consumers can also take advantage of financing options that are available for used cars. Used car financing is often available to consumers with less than perfect credit.
Loan and Financing Options
While interest rates may be higher, they may offer shorter loan terms so the debt can be paid back quicker. Some finance companies offer special financing specifically targeted to subprime customers who may not have been able to get a car loan in the past. Used cars also depreciate more slowly than new vehicles so consumers won’t be forced to pay more than what the car is actually worth.
To remain competitive in today’s automobile industry, car dealerships must find new and innovative ways to boost their business and market to an increased population of used car consumers. To be successful in this sometimes new market, dealerships are encouraged to work with a variety of buyers and promote the benefits of the used car industry.
If your used car dealership offers subprime lending options to consumers, partnering with a company like CyberLead can help to increase sales. CyberLead is an established, experienced and credible business that generates potential customers for hundreds of auto dealerships throughout the country. They utilize a strong network of search engine-optimized domains that provide valuable subprime leads. As an added benefit, dealerships may use these vanity domains as part of their advertising campaigns. If your dealership markets to subprime customers, call CyberLead, Inc. for the most credible leads at 866-347-0607.
