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Most car dealerships display their inventory in a showroom and on a car lot. Under U.S. federal law, all new cars must carry a sticker showing the offering price and summarizing the vehicle's features. [4] Salespersons, predominantly those who only work on commission, negotiate with buyers to determine a final sales price. In many cases, this ...
The influx of older used cars is an optimistic sign for the industry, though. In the first quarter of 2022, the average used car trade-in was 7.9 years old; in the just completed quarter, it was 9 ...
In the used car market in the United States and Canada, buy here, pay here, often abbreviated as BHPH, refers to a method of running an automobile dealership in which dealers themselves extend credit to purchasers of automobiles. [1] Typically, purchasers of cars at BHPH dealerships have poor credit history, and loans have high interest rates. [1]
Don Massey’s career started in construction in his home state of Tennessee.In 1955, he moved his family to the Detroit area and began selling cars. Massey was a natural salesman and by the late 1950s had been promoted to used car manager and then general manager at a Chevrolet dealership in Detroit.
Used car prices fell recently, which is good news, according to Kelley Blue Book. Even so, interest rates have remained high. The Federal Reserve is set to meet in mid-September and even though an...
A used inexpensive car is now becoming more and more of a luxury. What the market wants right now is not available, and that’s $3,000, $4,000 and $5,000 cars.
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