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How the Glut of Off-lease Vehicles Affecting Dealerships

Posted by Brandes Elitch on Wed, Sep 11, 2019 @ 08:45 AM

Over the last few years, an interesting development has occurred in the business of selling new cars — a glut of off-lease vehicles has hit the market. Let’s take a look at what this means to dealers and consumers.

During the new vehicle sales bonanza of 2014 ­– 2016, records were set for annual sales, and surprisingly, about a third of those sales ended up as leases. By the end of 2019, an estimated 12 million low-mileage cars were coming off lease to create the glut of off-lease vehicles.

First, a recap of how leasing works. There is an up-front cash payment, and then you make a monthly payment for typically 24 or 36 months, with an option to do a buyout at the end of the lease. In theory, you are just paying for the depreciation during that time.

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Tags: Auto Dealerships, C.A.R.S.

The Lifetime Value of One Declined Check at Your Auto Dealership

Posted by Sara Holt on Thu, Sep 21, 2017 @ 12:49 PM

Many people prefer paying by check according to the 2016 Federal Reserve Payments Study. Checks declined by processing companies harm auto dealerships where losing a sale to just one declined check can have far-reaching consequences.

For example, one declined check for a downpayment could result in the loss of three sales equalling a total of $146,000 if several values are considered (see the below infographic).

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Tags: Check Fraud, Auto Dealerships, C.A.R.S.

One Declined Check & the Lifetime Loss to an Auto Dealer

Posted by Joe Gargiulo on Tue, Jul 11, 2017 @ 12:06 PM

Doug Watkins is an old-school guy. He’s been in construction all of his adult life, working his way from laborer to foreman in 10 years, and eventually to the owner-operator of a small licensed construction company specializing in kitchen and bath remodels.

He prefers to pay by check — especially at auto dealerships — and has never written one that has been declined at the point of sale.

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Tags: Auto Dealerships, C.A.R.S.

Criminals Make Auto Dealer Prioritize Check Acceptance Policies

Posted by Tom Lombardo on Sat, Sep 26, 2015 @ 07:00 AM

In 2012, a Chicago area man plead guilty to writing twenty-four worthless checks to auto dealerships, including ones in Illinois and Wisconsin that lost over $70,000. And he's at it again. 

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Tags: Check Fraud, Auto Dealerships, C.A.R.S.

Automotive Check Services: Gain Back that 60 Seconds

Posted by Heather Brautman on Fri, Jun 21, 2013 @ 10:00 AM

Although it's holiday-worthy enough to show up on the calendar, there’s not a lot to celebrate when the summer solstice hits every June 21. For the next six months, you’ll be losing one minute of daylight a day. Like a single grain of sand, those 60 seconds don’t seem like much. Then again, those grains really add up when you add them together. Read on to find out how you can get back one minute more (or more) in your day.

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Tags: Auto Dealerships, C.A.R.S.

See Us at NADA 2013 for Sales-Closing C.A.R.S. Service

Posted by Jason Lindell on Thu, Dec 20, 2012 @ 03:00 PM

We're excited to be part of the National Automobile Dealers Association's annual Convention & Expo coming up the first week of February. The NADA Expo brings thousands of auto dealers, managers, finance directors and manufacturers together under one roof for four days. The event will be held in Orlando, Florida at the Orange County Convention Center, February 8 - 11, 2013. If you're attending, look for CrossCheck in booth 963 and be sure to stop by to enter our drawing for an iPad mini!

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Tags: National Automobile Dealers Association (NADA), C.A.R.S.

CrossCheck and Our C.A.R.S. Dealer Program Win Big at NADA 2012

Posted by Charles Dortch on Fri, Feb 10, 2012 @ 03:09 PM

NADA 2012 was a huge win for CrossCheck. 

Our booth was located in a medium to high traffic area which allowed us consistent interaction with the dealers.

My team of Alan Levine, Eric Stegner and Jason Lindell were very engaging. They pitched the C.A.R.S. program to everyone that stopped by and gave demonstrations of how the product works. We also held a drawing for a $100 gift certificate to Ruth's Chris Steak House.  Our winner was Jerry Dillard, President of Fitzgerald Auto Malls.  Enjoy your steak, Jerry!

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Tags: National Automobile Dealers Association (NADA), Charles Dortch III, C.A.R.S.

CrossCheck's C.A.R.S. Increases Sales at Napa Ford Lincoln

Posted by Andrew Donahey on Wed, Jan 25, 2012 @ 01:37 PM

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Tags: CrossCheck, Auto Dealerships, C.A.R.S.