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Donald E. Massey (April 28, 1928 – June 9, 2011), known as the “Cadillac King”, [1] was an American car dealer who owned a chain of automobile dealerships in the United States. At his peak, Massey was the largest Cadillac retailer in the country, accounting for approximately 6% of the brand's sales. [2]
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]
Autotrader.com, Inc. is an American online marketplace for car buyers and sellers, founded in 1997. It aggregates new, used, and certified second-hand cars from dealers and private sellers. The site also provides users with automotive reviews, shopping advice, and comparison tools for car financing and insurance information. [1]
Buy new — or used? Winner of the 2024 World Car of the Year award, the Kia EV9, at the New York International Auto Show at the Jacob Javits Convention Center in New York City last March.
Much of the reason Americans are paying nearly $50k for a car is that automakers decided to go all-in on expensive cars. The more they charge for a car, the more money they make off it.
While CarMax stores focus on marketing used vehicles, the company acquired its first new car franchise with Chrysler Corporation in 1996. [4] By 1999, it added new vehicle franchises for Mitsubishi Motors, Toyota, and Nissan. [5] In late 2021, CarMax sold its last new vehicle dealership, located in Kenosha, Wisconsin, to the Rydell Company. [6]
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