Customers trade cars after 2 years

Customers trade cars after 2 years

The Trade-In Timing Trend Recent data indicates that consumers who purchased a vehicle are increasingly looking to trade it in approximately 24 months after their purchase. They casually re-enter the market after making their 18th payment. It takes them up to 6 months...
86.8% do not buy the same model they’re driving now

86.8% do not buy the same model they’re driving now

I had the best Used Car Manager when I first started selling cars. Mike Jobson was his name and his way of stating the cold truths of the car business have stuck with me for three decades. When a fresh up was on the lot, but nobody had gotten to them, Mike would yell...
2024 Trends | Vehicle Equity Changes

2024 Trends | Vehicle Equity Changes

Vehicle Equity Trends: 2023 vs. 2024 Notably, while the average vehicle equity has seen a decline, there has been a significant increase in the percentage of customers who have fully paid off their vehicles. In 2024, the average vehicle equity was recorded at $8,724,...
Automation & A.I. work together

Automation & A.I. work together

The average DMS database size we see is around 21,000 customers. There are an additional 1,100 service repair orders hitting the database every month. And the number of lease returns varies by dealership. Depending on the market, more than half of these customers are...