From supercars to superminis – why data can help dealers buy better cars – Car Dealer Magazine Zainal Abidin, 20/08/2025 We all know that data is very often the key to a successful car retailing operation, but with so many providers of such information present on the market, trying to find the right one isn’t an easy process.Perhaps the answer is to go with a provider who has first-hand experience. Simon Hunt co-founded Brego in 2019 after wanting to buy smarter cars and not lose thousands of pounds in depreciation.He admits that after feeling the pain of selling his beloved Jaguar XK and taking a hit on the depreciation, he set out to build a platform that could help people such as him and dealers make better buying decisions.‘If I could tell how much a car was going to be worth in the future, then I could buy smarter, make smarter buying decisions and better cars,’ he told Car Dealer Live in the video at the top of the story.‘I quickly realized that the motor trade was also very interested in having accurate valuations data, so Brego branched out from there.’The Surrey-based business initially started out by providing data on supercars, based on evidence that such data was harder to come by for dealers. It… Continue Reading
Cost counts most for used car buyers Zainal Abidin, 16/08/2025 Cost is the driving factor for most motorists considering buying a second-hand car, according to a new poll commissioned by the Motor Ombudsman.It found that 58% of respondents said money mattered more than model or make.Meanwhile, the research also revealed that buying from retailers was the preferred option with 48% saying it offered more assurance buying from a business rather than a private seller and 43% saying it offered a safety net if something was to go wrong with their car after buying it.Meanwhile, the overriding majority (46%) of respondents would buy a petrol model, with those in the 55-plus age bracket the most likely to do so (52%), while 26% said a hybrid would be their preferred choice, followed by diesel (17%) and electric (10%).Bill Fennell, chief ombudsman, said: “Several million used cars change hands each year, and the second hand market, for some consumers, provides a more affordable and accessible proposition. To help steer consumers in the right direction as they embark on their used car buying journey, our handy reference guide has been designed to outline some of the key considerations, from initial research to extended warranties, and to act as a useful… Continue Reading
Cost of living crisis is fuelling booming used car market – Automotive Blog Zainal Abidin, 01/08/2025 New research has highlighted the No. 1 reason why more people choose used cars over factory-fresh models.A poll commissioned by The Motor Ombudsman found that more than half of respondents (58%) said that their primary motivation would be to save money.This is particularly pertinent at a time when consumer budgets remain under pressure, with further increasing looming for household bills, such as council tax, broadband, water, and standing energy charges.More than 7.2 million used cars changed hands in 2023, compared to 1.9 million new car registrations, according to figures from the Society of Motor Manufacturers and Traders (SMMT).The research also revealed that four in 10 respondents would prefer buying a car that had one or more previous owners to help avoid bearing the initial loss in value (ie depreciation), which is especially associated with buying a car from new.Nearly a third (32%) said there is often a large choice of vehicles to select from across the country when shopping around, while just over a quarter of survey participants (26%) agreed that they would be able to test drive and buy cars that were for sale on forecourts.When quizzed about some of the primary benefits… Continue Reading
New Online Transactional Platform, EEZE, Sets out to Combat Fraud in Second-Hand, Private-Party Auto Sales Zainal Abidin, 10/09/2024 MONTREAL, March 19, 2024–(BUSINESS WIRE)–EEZE, a new transactional platform dedicated to safeguarding peer-to-peer auto sales, officially launches today, serving the Ontario and Quebec markets. Designed to combat fraud and uncertainty in private-party transactions, EEZE offers a comprehensive suite of services to verify individuals, vehicles, and facilitate secure money transfers.As online marketplace fraud increases, buyers face uncertainty when dealing with unfamiliar sellers in private sales, particularly in the used car market. Even well-known platforms such as Kijiji, Autotrader and Facebook Marketplace are susceptible to fraud. EEZE steps in to fill this gap, providing a secure and reliable environment for buyers and sellers to conduct transactions with peace of mind.“At EEZE, we’re on a mission to de-risk private-party transactions by introducing trust, guarantee, and financing options,” says Tave Della Porta, co-founder of EEZE. “Our platform is designed to complement online marketplaces by addressing the challenges faced by both buyers and sellers in navigating the complexities of peer-to-peer auto sales.”EEZE verifies individuals by confirming their identity through rigorous screening processes that protect both parties from fraudulent activity. The platform also validates vehicle ownership, condition, and checks for clients, ensuring transparency and reliability throughout the transaction.The inspiration behind EEZE… Continue Reading
Motorists favor used cars due to budget constraints Zainal Abidin, 09/09/2024 When buying a second hand car in 2024, 58% of consumers’ primary motivation would be saving money, according to The Motor Ombudsman’s Opinion Matters poll of 2,050 motorists.Rather than buying a brand new equivalent, budgets and household bills would influence consumers to buy a used car.Bill Fennell, chief ombudsman and md at The Motor Ombudsman said: “Several million used cars change hands each year, and the second hand market, for some consumers, provides a more affordable and accessible proposition.”Four in ten respondents stated they would prefer buying a car that was previously owned by at least one person prior to avoiding the initial loss in value associated with buying a new car. In addition, 20% would hope to avoid waiting for their vehicle to be built and delivered.Showroom visits are important to one in four buyers. Showrooms allow buyers to familiarize themselves with the car’s history through its servicing record or any previous owner reviews indicating performance and reliability.When buying a used car, reassurance that checks have been completed are important and 48% of buyers would prefer to entrust an established bricks-and-mortar seller with this responsibility.If these buyers were to run into an issue,… Continue Reading
Hyundai Motor Company Launches Domestic Certified Used Car Business Zainal Abidin, 31/08/2024 Hyundai Motor Company marked a significant remarketing milestone with the launch of its certified used car business in Korea, underlining its commitment to playing an active role in the domestic used car market. Wonha Yoo, Vice President of Hyundai Motors Asia Region, emphasized the company’s dedication to customer satisfaction, stating, “Made by us, Cared by us,” encapsulating their philosophy towards the certified used car business. Unique news, as OEM-initiated second hand networks are not as common as in, eg, Europe or the US.TargetsHyundai Motor Company aims to bridge the gap between new and used car markets, ensuring that used car customers receive the same level of care and attention as new car buyers. This initiative comes after almost 2 years of preparation, including the establishment of dedicated infrastructure for the second-hand network.In light of the increasing demand for used cars in South Korea, Hyundai Motor Company sets an ambitious sales target of 5,000 units for 2023, with plans for further expansion in the coming years.CertifiedThe introduction of ‘Manufacturer Certified Pre-Owned’ vehicles by Hyundai Motor Company sets a new standard in the market, offering consumers reliable used vehicles backed by manufacturer certification. These certified used cars … Continue Reading
A Negative Equity Nightmare Is Rocking The Used Car Market Zainal Abidin, 25/08/2024 Buyers who paid over MSRP during the pandemic are most at risk as falling demand for new cars pushes used prices down https://www.carscoops.com/author/chris-chilton-cc/ Used Retail Vehicle Sales Accelerate in February Zainal Abidin, 15/08/2024 According to vAuto Live Market View data estimates, retail used-vehicle sales in February increased from January and were up by 13.5% month over month. A total of 1.49 million used vehicles were sold at retail – from both franchised and independent dealers – during February, up 10.7% year over year and the highest volume since March 2023. Spring fever and tax refund season boosted used retail sales through the month of February and dropped days’ supply to 44 at the beginning of March, down from a revised 53 at the beginning of February. Monthly Used-Vehicle Retail Sales Volume“Historically used retail sales peak in March or April of a given year as tax refunds inject money into the economy,” said Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive. “As the average tax refund is up 6% so far in 2024, consumers have been driven to the used retail market earlier in the year, leading to stronger used-vehicles sales in February than we have seen the last couple of years.”The retail used-vehicle sales estimates are based on observed unit changes tracked by vAuto, a Cox Automotive company specializing in inventory management. Retail used-vehicle sales this year,… Continue Reading How to make sure the used car you’re buying is ready to hit the road before you shell out the cash Zainal Abidin, 08/08/2024 HOUSTON – Is the used vehicle you’re buying ready to hit the road?One Houston police sergeant says many times it’s not, and the person buying it has no idea. In some cases, there could be inspection issues or maybe the vehicle is salvageable.That sergeant says buying a vehicle that’s not as advertised not only creates issues for the official buyer, but also law enforcement who could be focusing on more serious crimes. He says that in many cases the issues could be avoided.Last Thursday, we introduced you to Rafael Perro, who paid cash for tax title and license for this 2009 Subaru Forester from Reliable Cash Cars on Highway 249. He still hasn’t been able to register it a year and a half later, because the DMV said he was missing necessary paperwork.The sergeant who works the traffic enforcement division saw our story and ran the paper tag the dealer gave Perro. He found out it wasn’t legit, because the vehicle had not been inspected since 2019. Perro bought the vehicle in 2022. To issue a paper plate, the vehicle had to have been inspected within the past 6 months.The sergeant told us about two… Continue Reading Americans increasingly upside down on auto loans as used car values fall Zainal Abidin, 03/08/2024 Nevada ranked the second highest auto insurance rates in the country, according to Insurify.Used car prices are starting to edge down after soaring for years after the pandemic hit, and while the trend is a much-welcome relief for buyers, it is also causing trouble for some consumers who purchased their vehicles at higher prices.Edmunds’ latest used vehicle report found a growing number of Americans are upside down on their auto loans as used prices decline, and the average number of consumers are underwater is at an all-time high.Used vehicle prices have eased from a year ago, but the average amount of consumers is upside-down on car loans hit a record high. (Steve Pfost/Newsday RM via Getty Images / Getty Images)The report found the average transaction price (ATP) for all used vehicles declined to $28,371 in the fourth quarter of 2023, a 4.4% decrease from the same quarter the year before, when the ATP sat at $29,690.At the same time, the percentage of new vehicle sales that had a trade-in with negative equity jumped to 20.4%, up from 17.7% in 2022 and 14.9% in 2021.WAGES IN THE US ARE FALLING AT A ‘STRIKING’ PACE, INDEED … Continue Reading 12Next WhatsApp us
Used Retail Vehicle Sales Accelerate in February Zainal Abidin, 15/08/2024 According to vAuto Live Market View data estimates, retail used-vehicle sales in February increased from January and were up by 13.5% month over month. A total of 1.49 million used vehicles were sold at retail – from both franchised and independent dealers – during February, up 10.7% year over year and the highest volume since March 2023. Spring fever and tax refund season boosted used retail sales through the month of February and dropped days’ supply to 44 at the beginning of March, down from a revised 53 at the beginning of February. Monthly Used-Vehicle Retail Sales Volume“Historically used retail sales peak in March or April of a given year as tax refunds inject money into the economy,” said Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive. “As the average tax refund is up 6% so far in 2024, consumers have been driven to the used retail market earlier in the year, leading to stronger used-vehicles sales in February than we have seen the last couple of years.”The retail used-vehicle sales estimates are based on observed unit changes tracked by vAuto, a Cox Automotive company specializing in inventory management. Retail used-vehicle sales this year,… Continue Reading
How to make sure the used car you’re buying is ready to hit the road before you shell out the cash Zainal Abidin, 08/08/2024 HOUSTON – Is the used vehicle you’re buying ready to hit the road?One Houston police sergeant says many times it’s not, and the person buying it has no idea. In some cases, there could be inspection issues or maybe the vehicle is salvageable.That sergeant says buying a vehicle that’s not as advertised not only creates issues for the official buyer, but also law enforcement who could be focusing on more serious crimes. He says that in many cases the issues could be avoided.Last Thursday, we introduced you to Rafael Perro, who paid cash for tax title and license for this 2009 Subaru Forester from Reliable Cash Cars on Highway 249. He still hasn’t been able to register it a year and a half later, because the DMV said he was missing necessary paperwork.The sergeant who works the traffic enforcement division saw our story and ran the paper tag the dealer gave Perro. He found out it wasn’t legit, because the vehicle had not been inspected since 2019. Perro bought the vehicle in 2022. To issue a paper plate, the vehicle had to have been inspected within the past 6 months.The sergeant told us about two… Continue Reading
Americans increasingly upside down on auto loans as used car values fall Zainal Abidin, 03/08/2024 Nevada ranked the second highest auto insurance rates in the country, according to Insurify.Used car prices are starting to edge down after soaring for years after the pandemic hit, and while the trend is a much-welcome relief for buyers, it is also causing trouble for some consumers who purchased their vehicles at higher prices.Edmunds’ latest used vehicle report found a growing number of Americans are upside down on their auto loans as used prices decline, and the average number of consumers are underwater is at an all-time high.Used vehicle prices have eased from a year ago, but the average amount of consumers is upside-down on car loans hit a record high. (Steve Pfost/Newsday RM via Getty Images / Getty Images)The report found the average transaction price (ATP) for all used vehicles declined to $28,371 in the fourth quarter of 2023, a 4.4% decrease from the same quarter the year before, when the ATP sat at $29,690.At the same time, the percentage of new vehicle sales that had a trade-in with negative equity jumped to 20.4%, up from 17.7% in 2022 and 14.9% in 2021.WAGES IN THE US ARE FALLING AT A ‘STRIKING’ PACE, INDEED … Continue Reading