CarSalesGuy™ @Car_Sales_Guy Twitter profile

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CarSalesGuy™

3 months

The Most Realiable Car Brands in 2024 🚗 1. Lexus 2. Toyota 3. Buick 4. Chevy 5. Mini 6. Porche 7. Mazda 8. KIA 9. BMW 10. Dodge 11. Jeep 12. Cadillac 13. Hyundai 14. Subaru 15. Nissan Compiled based on problems reported per 100 vehicles. *Source: J.D. Power

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CarSalesGuy™

@Car_Sales_Guy

5 months

@GuyDealership Not true in the midwest. Honda has been our best performing brand in the group. Our Honda stores saw the best (unit volume) month in 2 years and smashed all of our objectives for April. Inventory is moving well, both new and used, and traffic is up double-digits.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Here's why 👇👇👇 You can take advantage of permanent registration if your vehicle is older than 11 years old. *PLUS* Cars and trucks are EXEMPT FROM SALES TAX in Montana (MCA 61-3-311).

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership 🔴 2022 NISSAN TITAN SALES 🔴 🛻 Nissan Titan 15,063 sold 🛻 Ford F-150 653,957 sold The Titan wasn't really doing Nissan any favors.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership @FullpathCDXP With rates at 7%+, those who can avoid financing, will. 👉 But if you're looking for a deal, don't ask if *PAYING CASH* will get you a discount. ✅️ Dealer profit is higher when in-house financing is used. Instead, offer to finance with the dealership. Then pay it off. 🤌

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CarSalesGuy™

@Car_Sales_Guy

11 months

@GuyDealership 30% of our sales staff across the dealer group will not be able to survive on this month's income. Sales for the past 3 months have been record lows. Yet, ironically, our seasoned staff is still thriving. Only the strong will survive.

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CarSalesGuy™

@Car_Sales_Guy

10 months

@GuyDealership All salespeople are not sleazy. I made 4 trips to a handicapped person's house 30 mins away to help them purchase their car. I mowed a customers grass when he was gone for a month. The guy moved and now drives 3 hours to buy cars from me. I've taken plenty of my customers to

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CarSalesGuy™

@Car_Sales_Guy

6 months

@GuyDealership Shocked not to see Honda or Toyota on that list.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership 😂

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership The most common phrase I hear from my customers is, "I'm only interested in a new car because used car prices aren't that much lower."

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Subprime delinquency is going to be a REAL problem. Most of these cars are from the 2021-22 car bubble. They aren't worth what's owed on them. Many need repairs. Do you remember what happened the last time consumers financed something big that wasn't worth what they owed?

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership A good salesperson will never pre-judge a potential customer based on their looks or the car they drive. If the customer does not qualify to purchase a car, explain what they can do to qualify in the future. It's not about a quick sale. It's about a lifetime relationship.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@IceXPR @GuyDealership In the midwest that would collapse under snow, crack from large hail, and probably get thrown by a tornado 😂

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership 🔹️under $10k🔹️ A glorified "golf cart" with basic functions designed to get you A to B. 🚙 There is real demand for this right now.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Mind blowing that you can get car insurance in the US with no license and no social.

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CarSalesGuy™

@Car_Sales_Guy

2 years

@GuyDealership Direct-to-consumer is the future. Dealers need to be demo, delivery, and service centers. Buyers do not like the process of buying in-store. The ease at which you can buy a Tesla is mind-blowing. Think Amazon vs K-Mart 🤔

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CarSalesGuy™

@Car_Sales_Guy

11 months

🔴 BORROWERS IN DISTRESS 🔴 Touching base with maybe two dozen clients today, I had at least 5 that are struggling to make their payments on their new/late-model vehicles. Some were begging me to just buy the car back, but used vehicle prices have dropped faster than they are

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Or for about $10k less, get a Honda Pilot. - More cargo and passenger volume - AWD powertrain - more fuel efficient - higher reliability and durability - better handling

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CarSalesGuy™

@Car_Sales_Guy

2 years

@GuyDealership Check this out! 🤯 Uninsured motorists by state: 1. MISSISSIPPI: 29.4% 2. MICHIGAN: 25.5% 3. TENNESSEE: 23.7% 4. NEW MEXICO: 21.8% 5. WASHINGTON: 21.7% *source: Insurance Information Institute

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership "Honey I picked out a new vehicle for our family today" 💀

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Used car dealers are struggling to access inventory that books out well enough to make profit AND get deals bought without INSANE down payments.

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CarSalesGuy™

@Car_Sales_Guy

1 year

Something weird is happening with consumers. I've noticed a new trend I've never seen before... People are cashing out portions of their 401(k) for down payments to combat their high payments on new cars. Several of my buyers this month alone have done it. This is how

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CarSalesGuy™

@Car_Sales_Guy

11 months

@GuyDealership ...leading so many of my customers to dip into retirement funds to increase down payment and lower their monthly payments. Just crazy. This next year will be a wild ride in the car biz.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Here's a few tips for how to get the lowest auto rates: 1. Shop around 2. Work on raising your credit score 3. Drive a safe and inexpensive car 4. Telematics (insurance's monitoring app) 5. Bundle auto + renters/homeowners 6. Raise your deductible (if you can afford it)

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Here's why 👇 They are a subprime-focused dealer with 39 locations. Lenders have sharply tightened lending requirements, making it harder to get loans. Subprime buyers are most-affected by tightened lending. But the biggest problem? 👇👇👇

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CarSalesGuy™

@Car_Sales_Guy

11 months

For those of you who have been following my posts, I've seen an incredible amount of younger consumers withdrawing from their 401(k) for down payment (had another one yesterday). This article confirms what I've been posting lately. When you're on the front lines, you can

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CarSalesGuy™

@Car_Sales_Guy

1 year

Something weird is happening with consumers. I've noticed a new trend I've never seen before... People are cashing out portions of their 401(k) for down payments to combat their high payments on new cars. Several of my buyers this month alone have done it. This is how

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership ☝️A top source low mileage Buicks

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership THE BIGGEST REASONS MY CUSTOMERS WALK 1. BUDGET Customer needs pmt under X/month but I can't get there on any car 2. MONEY DOWN Banks just aren't allowing the $0 down options as freely as in the past 3. CREDIT Debt-to-income, credit history, or score don't meet requirements

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership When a customer trusts that you're truly there to help them accomplish their goals, they will be loyal to you. It's amazing how many times a random customer I had comes back 6, 12, 18 months later, having done exactly what I told them to do. And it's a great feeling.

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CarSalesGuy™

@Car_Sales_Guy

1 year

🔴 BREAKING NEWS 🔴 BMO HARRIS BANK EXITING THE AUTOMOTIVE INDIRECT LENDING BUSINESS THIS IS THE LATEST BANK IN A STRING OF RECENT FINANCIAL INSTITUTIONS EXITING THE INDIRECT LENDING BUSINESS.

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CarSalesGuy™

@Car_Sales_Guy

2 years

@inside They did that to themselves.

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CarSalesGuy™

@Car_Sales_Guy

2 years

@GuyDealership Year 1: paying $1000+/month 6 years later... still paying $1000+/month ...and ready for the next one 😅

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CarSalesGuy™

@Car_Sales_Guy

11 months

@GuyDealership I agree with this statement. All things considered, if you need/want a new EV right now, Tesla is your best buy.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership If a consumer has to choose between their car payment and their student loan payment, the car wins every time. Without the car, most people don't stand a chance to remain employed.

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CarSalesGuy™

@Car_Sales_Guy

5 months

@GuyDealership Paint lines where they peel the tape off ☝️

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Nissan CVT transmissions are awful. Not uncommon for them to need replaced even while still under the manufacturers warranty. Worst one I've seen yet? A blown Nissan CVT with only 18,000 miles on it.

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CarSalesGuy™

@Car_Sales_Guy

4 months

@GuyDealership @bradsales312 Just parts and service. The sales staff and managers will still be there.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership SIGNS OF A SKETCHY DEALERSHIP 1) Salespeople smoking outside waiting for you 2) The advertised car isn't actually available 3) the manager won't give you your trade keys back 4) they don't listen to your wants, needs, and budget 5) you feel uncomfortable or intimidated

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Ways to avoid this: 1. Buy certified CPO 2. Ask to bring the car to your mechanic for inspection 3. Purchase a service contract/warranty 4. Request dealer's inspection records 5. Ask if dealer provides any guarantee for X-number of days Reputable places provide these things.

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CarSalesGuy™

@Car_Sales_Guy

10 months

@GuyDealership Leases factor in residual value after (typically) 3 years. Honda has lower depreciation than most brands. This is why they lease so well.

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CarSalesGuy™

@Car_Sales_Guy

2 years

@GuyDealership This one BLEW my mind. 🟢 810 credit score 🟢 2019 RAV4 with 19k miles 🟢 $10,000 down 🟢 $20k financed 🟢 60 months Loan APR? 🔴 8.59% Lowest we could find. And rates are still going up.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Why is the G Wagon selling for over MSRP? ✅️ It's buyers are wealthy ✅️ It's in low supply ✅️ It's a status symbol 👉The G-Class is a tax write-off👈 Weighing in at a hefty 5,664 pounds, it qualifies for the Section 179 deduction.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Shocking stat. Most of my customers don't ask for it or tell me it's a need for them. As a matter of fact, many of them *still* have no idea what it is. I wonder if this is market-specific for different parts of the country. Either way, GM could be asking for trouble.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership It's starting to seem intentional 👇 Japanese brands are running out of excuses *WHY* they can't produce cars. Dealers are STILL charging OVER MSRP, and MSRPs are still rising. But WHY? ✅️Increased gross profit for the dealer ✅️Increased gross margin for the manufacturer

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership New cars are putting pressure on the used car market. Why? ✅️ Wide availability ✅️ Full Manufacturer Warranty ✅️ Marginal price difference compared to late model pre-owned ✅️ Accelerating manufacturer incentives ✅️ Promotional financing

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CarSalesGuy™

@Car_Sales_Guy

11 months

@GuyDealership Automotive News Leadership rn

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CarSalesGuy™

@Car_Sales_Guy

6 months

@GuyDealership Highest volatility: -Higher priced vehicles $50k+ -EVs -big SUVs/trucks Lowest volatility: -Hybrids -Japanese imports -newer cars under $20k

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership 🔴 10 STATES WHERE CARS LAST THE LONGEST 🔴 (IN YEARS) 10. Kentucky: 13.0 9. Kansas: 13.0 8. South Dakota: 13.1 7. Wyoming: 13.2 6. Alabama: 13.2 5. Oregon: 13.5 4. Washington: 13.6 3. Alaska: 13.6 2. Montana: 14.3 1. Idaho: 14.3 Source: Auto Alliance

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership EXPLAINED -Honda declining due to lack of AVAILABILITY. (Same with Toyota) -Ford: Declining due to lack of RELIABILITY. [Also trying to shift their brand to EV, but their customer base isn't following] -Stellantis: Declining due to lack of AFFORDABILITY.

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CarSalesGuy™

@Car_Sales_Guy

2 years

@GuyDealership I already resorted to Feet Finder 😣

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Meanwhile Hyundai/KIA having their own set of issues...

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership @CDG_Podcast @jimfarley98 @TheSaidDeep What is Ford doing to regain the trust of its dealers?

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CarSalesGuy™

@Car_Sales_Guy

10 months

@GuyDealership Some added context: Acura's worst performing year since at least 2005 was 2022.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@Tesla Walk away auto-lock will work from your phone as long as bluetooth is enabled. But if your phone dies (like mine did the other day at the beach), you can get locked out. Always have the key card in your wallet, just in case! Lesson learned. 😂

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Although Toyota is the most-considered car brand... ...they somehow are not the top-ranked in any of the top 12 most important factors in car buying.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@cwb_in_tn_81 @GuyDealership Always run the CARFAX. Junk, salvage, and rebuilt titles are a red flag.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership This is becoming increasingly common this year 🤔 The risk of recession is causing banks to be more selective in their credit underwriting Indirect auto loans are a more risky asset class for banks You will give back that 2nd car before you'll let your mortgage go delinquent

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CarSalesGuy™

@Car_Sales_Guy

11 months

@GuyDealership We drive our own cars so there are no missing vehicles on someone's day off, and no missed opportunities. (But every once in a while a pre-owned pickup truck comes in handy)

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CarSalesGuy™

@Car_Sales_Guy

10 months

FERARRI SPENT MILLIONS DEVELOPING A MAZDA CX-30

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Alfa has never been known for quality, reliability, or performance. This is an embarrassment for JD Power.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership 🔴 NEW VEHICLE INVENTORY UPDATE 🔴 ✅️ 1.9 MILLION CARS AVAILABLE UNSOLD ✅️ SUPPLY IS +71% VS 1 YEAR AGO ✅️ NEW VEHICLES AVG +$1,744 vs 2022 ⬆️⬆️ New car supply is at its HIGHEST in 2 years ⬆️⬆️

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership A Car and Driver 2.5/10 C/D once said this about it 👇 "Slow, unrefined, an interior that's cheaper than a Palm Beach retiree." ✅️78 HP ✅️1.2-liter 3-cyl engine ✅️ 0-60: 11 seconds

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CarSalesGuy™

@Car_Sales_Guy

7 months

@GuyDealership Automotive is becoming an extension of the tech industry.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@MoneyJrod Alternatively: 1. Buy a Honda 2. Use above steps 2-4

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CarSalesGuy™

@Car_Sales_Guy

10 months

@GuyDealership This is so true. A dealer is more inclined to make a car deal with a customer who is local. Why? The local customer is most likely to utilize the dealership after the sale.

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CarSalesGuy™

@Car_Sales_Guy

6 months

@GuyDealership Honda and Toyota dealers are producing more inventory, but not *enough* to meet demand. Dealers from these two brands are enjoying good profit margins and low floor plan cost. Efficiency wins in this environment.

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CarSalesGuy™

@Car_Sales_Guy

2 years

🚨 BURSTING AT THE SEAMS WITH NEW CARS 🚨 -18 major brands are now OVERSTOCKED with new car inventory. -Brands with excess inventory EXCEED brands with shortages. -"Healthy" inventory is ~60 days of supply. -Discounts and incentives are right around the corner! Source: Cox

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CarSalesGuy™

@Car_Sales_Guy

11 months

@GRomePow The borrower owes over $30k on a vehicle that appraised in the mid-teens today. So he's "flipped" $15,000. He can't trade it and roll the negative equity into another vehicle, and he can't sell it unless he covers the negative equity (He rolled $7k negative into this loan).

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CarSalesGuy™

@Car_Sales_Guy

2 years

@GuyDealership Honda is in the same boat. Tesla is gaining market share from former customers leaving these two brands.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Capital One is exiting the floor plan business because a drop in used car values poses a very high risk to them 📉 If a used car dealer folds, the risk is left to the finance company holding the inventory 🚗 Floor plan can be 6-to-7+ figures of inventory dollars 💵

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CarSalesGuy™

@Car_Sales_Guy

2 years

@GuyDealership 16% of American consumers are paying at least $1000 per month on a car loan. 5.67% of subprime loans are 60 days late, HIGHER THAN THE PEAK OF THE GREAT RECESSION (5.04%). It's coming.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership 🔴 BREAKING NEWS 🔴 BMO HARRIS BANK EXITING THE INDIRECT LENDING BUSINESS WITH DEALERS

CarSalesGuy™

@Car_Sales_Guy

1 year

🔴 BREAKING NEWS 🔴 BMO HARRIS BANK EXITING THE AUTOMOTIVE INDIRECT LENDING BUSINESS THIS IS THE LATEST BANK IN A STRING OF RECENT FINANCIAL INSTITUTIONS EXITING THE INDIRECT LENDING BUSINESS.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership #CDGafterDark 🤣

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CarSalesGuy™

@Car_Sales_Guy

10 months

@GuyDealership @carsdotcom Yet our closing percentages are still close to COVID highs. When they shop online, they're doing the research. When they visit the dealer, they're ready to buy.

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CarSalesGuy™

@Car_Sales_Guy

2 years

@GuyDealership Same. They've declined or asked for more money down on all our applications for the past week. We write most of our subprime loans with them.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership I think your average used car profit assessment is spot on. 🎯 *BUT* We will put together low-margin deals on aged units if we can't move them in 45-60 days. We also source carefully so we don't run margins too thin (ie. won't put too much into a trade to put a deal together).

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CarSalesGuy™

@Car_Sales_Guy

2 years

@GuyDealership In 2019, about one-third of new cars were leased 🚗 Fast forward 3 years: ~19% Off-lease cars make up a large portion of the used car market. Quality low-mileage 3-year-old vehicles With so few pandemic-era new cars to lease, today's used car market will not get replenished

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CarSalesGuy™

@Car_Sales_Guy

1 year

🔴 DEALERS: STOP SPLITTING CAR DEALS Why? 👇👇 Employee retention. 🙅‍♂️If I had to spend 6 days a week at my dealership from open to close to prevent someone from taking half my income from a deal, I'd QUIT. 👨‍👩‍👦 Work-life balance is the new norm. 🤝 I just gladly did an entire

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership 🔴 USED CAR PRICES IN A FREEFALL 🔴 Wholesale prices saw their largest-ever June decline 📉 -In *1 month* wholesale used car prices dropped a whopping 4.2% -used car prices have dropped over 10% vs 6/2022 -Sports car prices have taken the worst hit, -14.8% YoY Source: Cox

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CarSalesGuy™

@Car_Sales_Guy

1 year

@Tesla Try that on the white fabric on the sides of those seats 😉

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Yikes. This is the lifeblood of small independent used car dealers.🚗 Life is getting harder for the little guy. 👨‍👩‍👧‍👦 Bullish on the big franchise dealers.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@TL9645 @GuyDealership Mazda isn't bad. I've had the most positive feedback from them. Rogue and Murano are nice, too, and have some of the best deals right now. If you read my prior tweets I'm not a fan of Korean brands, which are plagued with issues. Why not another Honda?

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CarSalesGuy™

@Car_Sales_Guy

1 year

@vburch6 @GuyDealership They have been plagued with electrical issues since first release

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CarSalesGuy™

@Car_Sales_Guy

1 year

Automotive production is picking up BIG TIME. Recent report from UBS 👇 Global car production will EXCEED sales by 6% this year, leaving an excess of 5 MILLION vehicles that will require price reductions to bring demand to the oversupply. Their timing? ⏰️ 2nd half of 2023.

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CarSalesGuy™

@Car_Sales_Guy

10 months

@GuyDealership Acura had devastating supply shortages, so comps are skewed.

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CarSalesGuy™

@Car_Sales_Guy

11 months

@GRomePow @DegenNeckbeard 60-day late payments are climbing. Most cheaper repos would be gobbled up by the demand for <$15k cars with usable life. An influx of $20-30k used cars will put much-needed downward pressure on pre-owned pricing. And the whole thing could domino from there. Deflationary.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Used car dealers exist to: ✅️ Source a selection of quality cars ✅️ Provide a trusted environment to transact ✅️ Facilitate financing ✅️ Allow for trade-ins (and tax breaks) ✅️ Provide expertise, convenience, and efficiency ✅️ Offer warranties and service

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CarSalesGuy™

@Car_Sales_Guy

1 year

@Tesla Make it removable. We need a sunroof/targa option!

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership On a mass scale, this could be detrimental to a financial institution. Capital One has some of the most advanced technologies of any lender. They know what's coming 🔮

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CarSalesGuy™

@Car_Sales_Guy

5 months

@GuyDealership We're sitting at 12 days' supply. Honda is giving supplemental inventory for support.

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership KIA is still a brand that shouldn't be trusted. -Easy theft -Engine failure -Transmission issues -Fire risk -Numerous recalls -mechanical malfunctions -Electrical problems -defective safety systems Source : NHTSA, HotCars, Consumer Reports

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership 2 problems with this: - it's computer generated vs. actual crash testing - They misspelled Tuscon as "Tuscan" All. Credibility. Lost.

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CarSalesGuy™

@Car_Sales_Guy

8 months

@GuyDealership Looks like markdowns on last year's model

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CarSalesGuy™

@Car_Sales_Guy

1 year

@GuyDealership Playing devil's advocate here: A Toyota rep has to explain to the savvy educated and frugal Toyota customer why they have to pay at/above MSRP and wait for it. A Jeep rep has to use the rebates/incentives to get the sale with 0 down. It's a flashy product for an impulse buyer.

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CarSalesGuy™

@Car_Sales_Guy

2 years

@GuyDealership More than 7000 KIAs and Hyundais stolen in Chicago... ...in 2022 ALONE. 😵‍💫

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CarSalesGuy™

@Car_Sales_Guy

9 months

@GuyDealership PVR (per vehicle retailed) is the average gross profit per car. Across brands in our dealer group this important number varies widely. Domestics? $750-$1500 Imports (excluding Nissan) $2500-$3500 (!) Honda/Toyota is still leading the way on strong demand and low supply.

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CarSalesGuy™

@Car_Sales_Guy

2 years

@Tesla *running costs* are cheaper in a Tesla. 100% agree. HOWEVER -vehicle cost -annual registration -insurance premiums -taxes -loan interest -even *fuel vs charging* Can be significantly higher than the average ICE in many states.

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CarSalesGuy™

@Car_Sales_Guy

11 months

@GuyDealership We anticipated the rate hikes, saved cash, and self fund our floorplan now. I don't know how dealers can survive this environment. Just crazy.

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CarSalesGuy™

@Car_Sales_Guy

11 months

🔴 USED CAR PRICES STILL DECLINING 🔴 Used vehicle pricing continues to decline as wholesale/auction prices decrease slightly, continuing the trend. Increasing new car inventory, slowing demand, and higher rates continue to weigh on the used vehicle market. (This is directly

Jonathan Smoke

@SmokeonCars

11 months

Wholesale used vehicle prices (mix, mileage & seasonally adjusted) based on @Manheim_US Index declined 2.3% in October leaving the index down 4.0% y/y … NSA ave price declined 3.1% leaving unadjusted ave price down 6.3% y/y

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CarSalesGuy™

@Car_Sales_Guy

2 years

@GuyDealership @SJosephBurns WHY BANKS ARENT LENDING -An asset-backed security (ABS) is a type of investment collateralized by an underlying pool of assets, like car loans. -If a bank stops issuing ABS, it won't have the funds to issue loans to borrowers. -Lending tightens and riskier loans are declined.

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