Dynamic Motor Company – The Last Days

Draw your own conclusions, but ultimately one event Collapsed an entire company.  Finance Companies have too much power and control.  Illegal?  I think yes and I would love to know if this happened to other dealers across the country as well. To protect the identity of the finance company because I am looking into litigation, I will call this Finance company, Sea Funding. End of March I get a phone call from my Rep at…

Auto Auction Fraud running at all time High

The large auto auctions are loyal to their wholesalers because they need an endless supply of cars to sell and competition is heating up.   Over the past 5 years Auto Sales have had Explosive growth so the Auctions have grown and other competitors have entered into the marketplace. As a large used auto dealer I purchased 400-800 autos from these auctions each year and what I found was disturbing.  I wanted to be a dealership…

Auto Sub-Prime Lenders Tighten Credit

During the past 4 months, Lenders have tightened so much it Cut off Circulation to the Auto Dealers! Dealer after dealer are closing their doors all across the country because sales have Dropped off a Cliff.  Many remaining are in Financial trouble. Lenders have started experiencing a ton of losses causing them to stop lending.  When we asked some dealers out there, they said that in this environment they are unable to get customers approved. …

Obamacare Killed Used Auto Tax Season!

USED AUTO SALES FELL OFF A CLIFF!   Millions of Americans DID NOT receive Tax Refund Checks in 2016 because they did not have Health Insurance.  This has been a Devastating Blow to the Used Auto Market and to the US Economy.  Refund Tax Season which Used Auto Dealers like to Joke is “Our Christmas Season” lasted 2 months in 2015, however; it was a short 3 weeks in 2016 and then an immediate drop…