The latest report from Edmunds shows that the used car market is poised to attract more and more consumers from the new vehicle market. Their data shows that used cars are newer, more feature-packed, more diverse in terms of body style, and have fewer miles. Auto Credit Express wants to help dealers sell more of these high-quality used vehicles with our used car sales leads.
Used Car Marketplace in a Better Position than Ever Before?
Edmunds' Used Vehicle Report from the first quarter of 2019 notes that the used cars on franchise dealership lots are perhaps better than ever before. This is thanks to the barrage of off-lease models coming back to dealer lots after record lease volumes in 2016.
The findings from the report show that used vehicles:
- Are dropping in average age – Edmunds data shows that the average age of a used car was 4.3 years in Q1 2019, which is down from 5.0 years in 2014. Additionally, two out of every three used vehicles sold are four years old or newer.
- Have fewer miles – Used cars had an average mileage of 51,349 in Q1, which is down from 61,162 five years ago. Edmunds believes that lease terms that are stricter on mileage allowed are contributing to this.
- Include a greater mix of SUVs and trucks – Shoppers can also expect to see more SUVs and trucks on dealer lots. SUVs made up 40% of the used vehicle market in Q1 2019, which is up from 32% in 2014. Similarly, trucks accounted for 14% of the market in Q1, while that number was 13% five years ago.
- Have more desirable features – Used cars on the market are also more likely to have popular connectivity and convenience features. Edmunds took a look at vehicles from the 2015 and 2009 model years and found that the 2015 models had a significantly greater availability of standard features like Bluetooth, rearview cameras, keyless entry, heated seats, HID or LED headlights, blind-spot monitoring, remote start, ventilated seats, and adaptive cruise control. For example, 80% of 2015 models had Bluetooth available compared to only 40% of 2009 model year cars.
Coupled with the fact that new vehicles are experiencing record high transaction prices and lower incentives, it's clear that the used car marketplace is an extremely strong position. Thanks to these newer, lower-mileage, and better-equipped vehicles that include more popular body styles than before, Edmunds has dubbed this a "Golden Age for used cars."
Used Car Leads for Dealers
Dealers should already be well aware of the influx of lightly used vehicles coming off lease. Just as they're redefining the used car marketplace, Auto Credit Express can redefine your used vehicle strategy.
When you partner with us, you're also teaming up with CarsDirect, as our two companies joined forces in 2016 when we were acquired by Internet Brands. Powered by CarsDirect Connect, we now have the ability to offer used car leads and new vehicle leads in addition to our special finance auto leads.
You can take advantage of the large number of quality used cars on the market with our exclusive and highly targeted used vehicle leads. You can also host inventory listings on our network of over 130 automotive websites to bring even more prospects through your doors.
CarsDirect lays claim to four consecutive top-three finishes in the Used-Vehicle Lead provider category of the Auto Dealer Today Dealers' Choice Awards, including a third-place Gold Award in the 2019 edition of the annual awards.
If your store has a lot of used inventory to sell, let us provide the leads for you to be better equipped to do so. Call Auto Credit Express today at 888-535-2277 to learn more about our award-winning leads and other dealer products. Or, you can fill out the contact form on our website and we'll get back to you!