{"id":1216,"date":"2016-09-29T09:56:38","date_gmt":"2016-09-29T14:56:38","guid":{"rendered":"http:\/\/efgintelligence.com\/dealershipcorridor\/?p=1216"},"modified":"2016-09-29T09:56:38","modified_gmt":"2016-09-29T14:56:38","slug":"making-hay-pre-owned-car-fever","status":"publish","type":"post","link":"https:\/\/efgintelligence.com\/dealershipcorridor\/making-hay-pre-owned-car-fever\/","title":{"rendered":"Making Hay With Used-Car Fever!"},"content":{"rendered":"
\"Contributing
Contributing Author:
John Stephens
Executive Vice President
EFG Companies<\/figcaption><\/figure>\n

Experian\u2019s latest State of Auto Finance Market Report<\/em> made headlines recently, painting a rosy picture for the used-vehicle market. Overall, pre-owned vehicles accounted for 55.61 percent of all financing<\/strong> in Q2 of 2016. Consumers across all credit tiers are flocking to pre-owned vehicles, with super-prime and prime consumers accounting for 44.95 percent<\/strong> of all pre-owned loans \u2013 a 2.6 percent year-over-year increase.<\/p>\n

Dealers have ample opportunity to capitalize on this market dynamic with CPO programs and F&I products tailored to the pre-owned market.<\/p>\n

Remember, the one hurdle pre-owned vehicles have always had to overcome is vehicle reliability.<\/strong> Even in this current market, you can bet vehicle reliability is still a hot button. In addition, those prime and super-prime consumers are used to another level of sophistication when it comes to customer service and they will expect no less when shopping for pre-owned vehicles. This combination makes strong CPO programs market differentiators. <\/p>\n

According to research from EFG Companies, 71 percent of consumers expect a CPO program to consist of:<\/strong><\/p>\n