Vehicles

New Rules: The Used Vehicle Dilemma

Posted on August 14, 2009 by Linda Moore

Page 1 of 2

With prom season officially over and slower summer months already here, many operators are looking to unload stretch limousines as they have done in previous years. But this year is not like previous ones. The new reality may slap you in the face if you don’t know the facts. Industry veterans Warren Meyers and Jay Glick explain the new rules.

NEW OR USED?

FACT
New cars are at the lowest prices ever!
 
REALITY
Used cars prices are just as low or lower.

According to Warren Meyers, Owner of JWDLimosales.com, one of the largest used limousine sales companies in the U.S., there are plenty of bargains to be had, but before you jump make sure you are able to get financing.

“The finance companies are not as loose with funds as they once were,” Meyers warns. “Many of the coachbuilders overbuilt last year, which has driven down the prices of new and leftover limousines. What it’s done is also drive down the price of used vehicles. Apples to apples from last year, the same vehicle is now worth $4,000 to $5,000 less. Operators trading in their cars have sticker shock when they hear what builders are willing to pay for their trade — that is if they take them at all.”

OVERSEAS MARKETS

FACT
Overseas markets still exist for used limousines.
 
REALITY
True, but there are fewer of them and they no longer are the limousine graveyards for all the junk left.

“Overseas buyers want low-mile vehicles in pristine condition at a bargain price. What once was a receptacle for all of the old-body style, high mileage vehicles, no longer exists. Overseas markets no longer want our garbage,” explains Jay Glick owner of limosdirect.com, a bonded limousine dealer for over 15 years in Marlborough, N.J. “There really isn’t a market for old body style, high mileage vehicles anymore.”

REPOS

FACT
There are many repos available on the Internet.

REALITY
The same car is being sold by multiple dealers on multiple sites, which gives the appearance of available repo gluts.

Meyers and Glick believe that this is an extremely deceptive practice. “Only buy from dealers that have possession of the vehicle,” Myers cautions. “Anyone can put a list together of consignment vehicles across the country. We are bonded dealers. We have to pay insurance for our dealer’s license and go to class annually to renew it. Brokers may not have the insurance or bonds. You really need to know who you are dealing with. Before we sell cars, we go over them with a fine-tooth comb. We detail them and make sure that they are mechanically sound. A broker might not ever touch a car he sells you.”

Glick even takes it a step further by posting the VIN number of the vehicle on his website. He believes that he has nothing to hide and he encourages his buyers to pull Car Facts or other reports on the vehicles that he is selling.

View comments or post a comment on this story. (0 Comments)

More News

2017 Escalade Still Ballin’ As A Visual Pleaser

Vehicle Review: If you’re the driver or front seat passenger, chances are you won’t want to relinquish your seat any time soon.

Genesis Scores High On Technology

Vehicle Review: The vehicle knocks it out the park with tech and it’s one of the most appealing aspects of this upstart luxury offering.

2017 S90 Sedan Is Big Upgrade For Volvo

Vehicle Review: This will be a must-have for luxury sedan buyers who value safety and comfort above power and overall ride quality.

Grech Minibus Will Sweep Tourists Off Their Feet

Vehicle Pick of the Week: Perfect for group shuttles, this brand new vehicle will pay for itself in no time.

Cadillac Creeps Up On Tesla With Plush Plug-In

The new CT6 hybrid pairs a little electricity with a lot of swank.

See More News

Facebook Comments ()

Comments (0)

Post a Comment

Submit

Blog

See More

LCT Store

LCT Magazine - May 2017 $12.95 Post International LCT Show Issue COVER STORY: * Best Operators of 2017: Their Winning Secrets Revealed * *



Connect

Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close