iLuxCars Blog

Two For One

2009-12-02T11:02:00.000-08:00

If you missed last month’s Market Report you certainly weren’t alone. We missed it as well. So this month’s report has numbers for both October and November. Two for the price of one.

We decided to take this opportunity to officially change the way we name the report so that November’s report (this one) will have November’s numbers.

Not to make excuses, but the truth is, we’ve been pretty busy. The number of iLUXCARS members is up slightly and their activity has increased as well.

We’re starting to see activity levels on the system return to their pre-crash levels. In general, this is reflected in the numbers.

Overall average depreciation for the last 6 months is a comfortable .25%. We actually had to re-run our calculations as we didn’t believe it. Comfortable.

What this means is that in June, July, August, September, October, and November prices are more or less flat. You may all breathe a collective sigh of relief. We’re nearly, dare we say, optimistic.

Remember that in June, for the first time in the history of this report (17 months now), prices actually went UP.

The July through August story was slightly different than June, but still a very reasonable month. Of the 87 models, 29 had a drop in value (33%). There were 3 models where prices rose, again.

In November, all of the Rolls Royce models have fallen (average of 3%). Bentley had some models drop, (Arnage, GTC, GT Speed), but nothing terrible.

The average isn’t all that meaningful, but it’s an interesting gage. While some models dropped 4% or more in a single month, the vast majority of the models we track didn’t change at all.

Remember, iLUXCARS gathers the data and publishes this report directly from the iLUXCARS System. In other words, this is not our opinion. The Market Report prices, while intended ONLY as a guideline, do represent the real money on these vehicles today.

Our goal is simple and consistent – help you make more deals. Something we’ve been doing consistently well, according to our users, for over 5 years.

Like we keep saying – Faster. Safer. Better.

Resiliency

2009-07-21T14:18:00.001-07:00

We realize this is becoming a bit of a habit, but we’re a little late again on this month’s report. However, this time it’s on purpose as it has been less than a month since the pricing guide numbers were recalculated.

We think you’ll be glad we waited.

First, we’ve added 6 new models to the report – Bentley GT Speed, Bentley Brooklands, Aston Martin DBS, Maserati Gran Turismo S, and Mercedes SL 63. We add new models when we’ve seen enough of them to have good data to use when calculating the report.

Second, we’ve added prices for several of the 2009 models to this month’s report. Again, we do this when there are a reasonable number of cars going through the System so that we can calculate the numbers with some degree of accuracy.

We’re also doing something that we haven’t done much since we started publishing the report – we’re raising prices on several models.

That’s right – you didn’t misread that – prices, at least for 10 of the 87 models in the report, have risen an average of 3.7%. You’ll see this in the Average Depreciation column as a negative percentage (-3.7%).

What’s more, the majority of the models in the report haven’t fallen. No change at all. Of the 87 models in the report, 64 (73%) have stayed exactly where they we’re last month. Like we said last month, this is very good news.

The iLUXCARS Network is a small, but specialized marketplace. It isn’t a complete bellwether of the overall economy, and we certainly can’t predict what’s going to happen to the overall car market. But we can say with some certainty that the luxury and exotic market is showing signs of true resiliency.

The world, at least our world, is on the road back to normal. Resiliency.

Remember, the idea of this report is to give you a general guide to the current wholesale market. If you are in the process of making a deal then you need to submit your car to the system. Every time. There is simply no reason to risk it.

Look, if you are in the luxury and exotic market then iLUXCARS should be the tool you use to manage your wholesale trades. Period.

Like we keep saying – Faster. Safer. Better.

No News

2009-06-22T11:10:00.001-07:00

We’ve just published the June Market Report and we’re very happy to report that prices, at least, haven’t moved substantially in the last 6 weeks.

So, while most of our battered industry continues to struggle, our little segment – luxury and exotic wholesale – has been thankfully quiet. This lack of bad news is, at least in our opinion, very, very good news indeed.

Many of you have been using the iLUXCARS System successfully since we’ve started. While we’ve been saying that iLUXCARS is the best way to manage wholesale luxury, the fact that we’re still doing it, nearly 4 years since we started, is testament to how right we are.

iLUXCARS works for three very simple, very important reasons:

Reason #1 – The Network always knows the current value of a trade. You may know your local market, but you can’t possibly know the market in the entire country. The Network is never wrong.

Reason #2 – When you sell your car through iLUXCARS you get paid every time. WE write the checks. Every. Single. Time.

Reason #3 – iLUXCARS removes the risk associated with buying. Times are tough, especially in our business. The one thing you don’t need is more risk.

For almost 4 years – Faster. Safer. Better.

April Delay

2009-04-23T09:19:00.001-07:00

Yes, we managed to publish the April report almost three weeks late this month. The result of this is that several of the new values (marked Mar-09) actually reflect about 8 weeks worth of depreciation versus 5 weeks. We will make a solid attempt to be on time for next month.

Also, we have eliminated the iLUXCARS Appraisal from the submission process. This means that every car you submit will immediately be broadcast to interested dealers nationwide. This was a highly requested feature and after much thought and discussion we’ve decided to try it out for a while.

Just as a reminder, this market report was created to be used by dealers as a quick reference to what cars are doing on a national scale. Our appraisal function did the same thing on an individual car basis, but for many of you, it was a hassle.

Most of you were treating the appraisal number as a buy bid anyway – at least those of you who have been part of the network for a while, and the rest of you were either confused or annoyed by the extra step.

Starting today you won’t need to go through this extra step. When you enter a vehicle it will automatically be a Live Trade. When you get a bid it will be real money.

Faster. Safer. Better.

Our Mission

2009-01-12T11:45:00.000-08:00

In the nearly 3 years since iLUXCARS was founded our mission has stayed remarkably simple: Help you make more deals.

Everything we do, everything we've built is focused on this single purpose. We help you by providing you a rich set of services and information:

Direct access to a full-time, professional, expert account manager.
A complete infrastructure for managing every transaction you do with us.
A 100% risk-free environment for your trades. We cover everything from the time the car is described until it arrives at your dealership. Payment, Shipping, Condition. All risk-free.
The iLUXCARS Market Report - the only pricing guide available with real values on luxury and exotic vehicles.
An unlimited number of iLUXCARS Appraisals. The only safe way to start your deal with a real number to give your customer.
Access to a nationwide network of luxury and exotic Live Trades.

We do all of this to get a chance to make a deal on your trades. Of course, in order to make money we have to do a transaction. We have to get you to buy or sell a car.

So if we make money on transactions then why are we charging a monthly fee? One really simple reason - we want your commitment. We want your trades. Because we know that if you give us a chance at your trades we WILL make a deal.

Here's the good part - we're so confident that we're going to be successful together once you commit to using iLUXCARS we'll ONLY charge if you don't do a deal. Do a deal and it's free.

Yes, we're charging. But only if you don't use it. One deal a month. One trade across the finish line. One purchase. That's it. One deal and its totally free.

Faster. Safer. Better. And, if you use it - completely free.

Internet Time

2009-01-01T01:00:00.000-08:00

We're not sending a paper version of the January Market Report this month. Don't panic, we're still writing the report and you'll still be able to read it.

Given the volatility of the today's market we felt that we couldn't send you numbers that were even a little bit out of date. When we print and mail the report, by necessity, the numbers are at least a week old. In the case of some vehicles, a 7 day old number is enough to cost you money.

We updated this month's numbers at literally the last minute - the afternoon of the last day of the month - December 31st, 2008. We'll send the report to you via email as soon as the final proofreading is complete - probably by the end of the day on Friday, January 2nd.

If you have problems reading or downloading the email attachment the report will be available for download on your homepage.

In the mean time - Happy New Year from iLUXCARS.

Real Value

2008-12-27T09:58:00.000-08:00

We've been at this long enough to understand the real value of iLUXCARS. We've spent a significant amount of time, effort, and money on all aspects of iLUXCARS. The result. we think, is real value beyond just the individual parts.

While it's absolutely critical to the business (we are an internet company, after all) - the system is only part of our real value. And, even though it's absolutely critical to your business, the real value in iLUXCARS isn't just the Market Report.

The core of what we do is actually really simple - we manage your risk. Think of iLUXCARS as a complete risk management solution. Complete.

Payment - our money, our guarantee, our risk. Shipping - all iLUXCARS. Condition - same thing. Title - all us. Collection - still our problem.

Face it, given today's financial climate, managing your risk is your number one priority. And if it isn't then it should be.

iLUXCARS - the complete risk management solution. Real value.

Recent Updates

2008-12-17T08:50:00.000-08:00

For those of you who don't get or (worse) don't read our email you should know that last week we updated values in the online version of the Market Report. It is available to download from your home page. To read it you'll need to log in and click on the large, friendly text that reads: "December Market Report."

Note that this update is available exclusively to iLUXCARS members.

If you aren't a member or aren't reading the report then you should really think about changing that. Among other things, you are increasingly in the minority of professional dealers in the country.

Even if you aren't dying every month to read the informative and entertaining content in the report, you are certainly in need of the data. For example, In the 3 weeks between the time we printed and mailed the December issue to the last online update overall average depreciation - averaged across all models - has accelerated to over 5% (in 3 weeks). That's critical information.

We arrive at the numbers by analyzing the hundreds of millions of dollar's worth of luxury and exotic vehicles that are submitted to the iLUXCARS System every month. It isn't, in other words, our opinion.

Look, even if you know everything there is to know about your market you still need to be safe. Especially today. Really knowing may just save you money. Hey, it may save you a bunch of money.

Faster. Safer. Better.

Turkey Time

2008-11-25T18:55:00.000-08:00

Except for the Big Meal nationally planned for Thursday, the entire iLUXCARS team - Sales, Marketing, Development, Logistics, Accounting, (even Art!) will be working all Thanksgiving weekend. We, like most of you, are prepared for a big, successful Black Friday. (And Saturday, and Sunday.)

The iLUXCARS.COM site, of course, is always available (we're an Internet Company) and if you enter a Live Trade or an Appraisal even in the middle of pumpkin pie, the System will be working on it.

Some of your cars may have expired when you get back to the office on Friday. You'll need to look in the 'My Expired Vehicles' list and click Re-Open to turn them back into Live Trades. Simple. Fast.

Remember, if you start any deal without iLUXCARS then you are taking a serious, unnecessary risk. Start your deal right. We're here to help you make money.

Even while we're eating turkey.

Interested?

2008-11-20T10:43:00.000-08:00

One of the most frequently asked questions we get typically starts with "What ever happened to that..."

To address this, we've added a new feature that allows you to view and express interest in recently expired Live Trades on the site. To view the list, click on "Recently Expired" under "My Account."

If you see a car you are interested in, click on the "I'm Interested" link at the right of the list:

When you do this, a notification is immediately sent to your account manager. Your account manager will call the seller to see what state their deal is in and, if possible, re-open the car if it's still available.

A bunch of you are already using this feature - many successfully. Let us know what you think, and, as always, we welcome your feedback, comments, questions, and suggestions.

Fear and Greed

2008-11-11T10:35:00.000-08:00

At iILUXCARS, we pride ourselves in having our finger on the heartbeat of our industry. And right now, the heartbeat of the luxury car world is beating a little fast.

Sure, there is uncertainty about things - about prices, customers, even the future of big chunks of the industry. People are distracted.

We know this because good cars at very good prices aren't getting good bids. We think it's fear.

Warren Buffet recently wrote an op-ed piece in the New York Times. He had an interesting quote: He said, "A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful."

Smart guy, that Warren Buffet.

Look at it this way - Prices are down. People are fearful. Sounds like a good time to buy.

Be like Warren. Be greedy.

About Appraisals

2008-11-01T17:29:00.000-07:00

Over the last few months the number of deals that start in the appraisal stage has grown dramatically. We've put a lot of emphasis on this because the appraisal allows us to do two very important things.

One, an iLUXCARS Appraisal provides you a real time look at the current vehicle value within minutes. The appraised value shows you today’s money, based on the most recent transactions from the system.

Two, the appraisal value can be used to both educate yourself and, more importantly, get a commitment from your customer to sell the car.

An appraisal is not a buy bid from iLUXCARS. You cannot accept this offer. The number is to be used to get a commitment from your customer that will make the deal. After you get the commitment, convert the appraisal to a fresh trade and we'll open the vehicle up for the entire network to see.

Most of the appraisals that are converted into live trades get bids - offers you can accept - that are very close to the appraised value. In fact, on average, deals that are converted from an appraisal and accepted bring an average of $694 MORE than the appraised value.

iLUXCARS is able to get this close because we have access to hundreds of millions of dollars worth of transactions - all through the iLUXCARS system. And all of this is at your fingertips 24 hours a day. All part of the system.

Appraisals. Faster. Safer. Better.

What's Changed

2008-10-15T09:31:00.000-07:00

Since we published the October Market Report a lot has happened in the world.

The DOW is down 13% in October alone. New car sales are at a 15-year low. General Motors and Chrysler are talking about a merger. And the credit markets have apparently lost their minds.

As all of you probably know the global turmoil has had some substantial effects on our world as well. Prices on luxury and exotics are under real pressure. In the last 2 weeks, 29 of the 72 models we covered in last month's report have dropped by more than 2.5%. (To put this into perspective, that's 75% better than the S&P 500.)

At iLUXCARS, we felt that you needed to have this information today, so we updated the October Market Report with prices as of today (October 15th). You can download the updated report by logging into your account now.

The good news, no kidding, is that many of our members are buying cars. In many cases they are paying a bit less for the vehicle than they would have last month, but deals are still being made. In fact, we're actually seeing more activity this month that we did in August or September.

The biggest change we've seen is that our members are increasingly using iLUXCARS as an extension to their own inventory and a way to make retail deals. This makes a lot of sense to us, of course.

It's simple, really - if you have a customer looking for something specific chances are we can find it. There really isn't any better way to make a deal. Enter a new vehicle request and we'll get to work. Fast.

So, a lot has changed. The trick is to adapt. Download the new report. Pay attention to Live Trades. And make SURE you enter your vehicle requests. We'll probably find it.

October Market Report

2008-09-30T16:30:00.000-07:00

Internet companies don't typically get to shake that many hands. In September, we changed all that – if only for a few of you.

We took a trip to Florida.

We met several new and existing iLUXCARS members. One of the most interesting (and encouraging) things we saw was that the September Market Report was being used throughout the country.

We talked about iLUXCARS and what we're doing to help you make more deals. We talked about the value of information and the value of a guarantee. We talked a lot about the fact that with iLUXCARS, you do business with iLUXCARS – not individual dealers.

And of course, we talked about numbers.

Numbers are everything in our business. Seemingly small mistakes can cause large problems. iLUXCARS is dedicated to reducing mistakes by keeping you armed with the numbers you need to make good decisions.

The October Market Report is in the mail. If you don't for some reason get it in the next couple of days, please let us know and we will be happy to send you another. There is also a version available for download online. Simply login to your account and click on the large, friendly "October Market Report" link on your home page.

Finally, this month's report includes analysis of an additional $105 million worth of vehicles - all created over the last 30 days. We also increased the size of the report by almost 40% (22 new models).

Bidding Closed

2008-09-12T12:03:00.000-07:00

Nobody likes being a buyer at an auction. We know, because we've been buyers at auctions. You're either afraid to bid because nobody else is bidding, or, you're mad that someone is trying to outbid you.

Buying cars at auction, in our professional opinion, sucks.

And it isn't just us that feels this way - a significant percentage of the iLUXCARS network feel exactly the same way. We know this because you've told us. In some cases you've told us often.

So, we solved the problem.

First, we streamlined the selling process to ensure that the only cars you see have a commitment to sell at a known price. (Read more: Big Changes)

Second, if you meet or exceed the asking price on one of the committed Live Trades in the system we close the bidding. Which means you can't be outbid. Ever. Problem Solved.

Simple, really. You bid the money. You win.

Bidding Closed. Like we keep saying: Faster. Safer. Better.

September Market Report

2008-09-03T16:21:00.000-07:00

The September issue of the iLUXCARS Update is in the mail. Most of you should receive it by Monday the 8th. If for some reason you don't see it let us know and we will be happy to send you another.

Starting tomorrow you can download the latest report by clicking on the link 'September Market Report' in the 'What's New' section of your home page after you login.

The Market Report is the result of almost $1 billion dollars worth of data on luxury and exotic vehicles. We summarize, analyze, and publish this report in order to provide you the essential information you need to make more deals.

This month's report is full of useful information - the most hopeful is that depreciation rates in August have dropped to a comforting 1.2% (on average) from nearly 3% in July. Ferrari and Lamborghini fared even better.

Also in August - We signed up our 1,000th dealer user! This is a milestone we're very happy about, and, it's good for everyone.

iLUXCARS is a network – and a network draws its strength,in part, from size. More users equal more cars available, more buyers for your vehicles, better money, and more ways for iLUXCARS to help you make your deal.

Recent Team Additions

2008-08-20T18:04:00.000-07:00

This week, August 18, iLUXCARS welcomes Tim Rogers as Vice President of Sales & Operations.

Tim comes to iLUXCARS from Autobytel, Inc. where he was Vice President of Dealer Sales. At Autobytel, Tim led the sales team, which was responsible for thousands of retail dealers nationwide. He developed an industry leading national sales force, spanning both field sales and telesales, with reps in every major U.S. market.

As one of Autobytel's original employees, Tim was a key contributor in steering Autobytel’s early growth from 1996 through 2000. A primary player on the sales team from the beginning, Tim led the integration of both the Autoweb and Car.com sales teams after Autobytel acquired both companies in 2001 and 2004, respectively.

Tim brings more than 12 years of management and leadership experience to iLUXCARS. You will be hearing more from Tim in the near future. All of us on the iLUXCARS team are looking forward to working with Tim as we continue to grow the iLUXCARS Network and improve the iLUXCARS System.

Blame Someone Else

2008-08-14T16:37:00.000-07:00

Along with the Big Changes this week the System is now attaching 2 versions of the iLUXCARS Appraisal Report to the email that contains your appraisal number. The first version has comparable values and the 'Simple' version doesn't.

The Appraisal Report is a powerful tool you can use to get a real commitment from your customer. And, best of all, you can blame someone else for the number. Blame iLUXCARS.

You can mention that we've processed nearly a billion dollars worth of luxury and exotic cars in the last 18 months. You can show them the Market Report if you want.

We've talked to several of you about this idea and the response has been great. Several of you are using it to make your deal.

So, blame someone else - we can handle it.

Big Changes

2008-08-11T16:16:00.000-07:00

At iLUXCARS, we are constantly trying to improve the process to balance the needs of both buyers and sellers. Starting tomorrow, the format and rules for buying cars is changing.

First, cars on the "Live Trades" list will have commitments from sellers at the specified target price. If the target price is met, the bidding will automatically close. This will encourage buyers to bid early and tie up the car quickly. Once the target price is met, it is the seller's responsibility to finish their deal and accept the offer as quickly as possible.

Second, when you enter a new vehicle you will be asked if you have a commitment from your customer. If you don't, the System will enter your vehicle as an appraisal where you will receive a value based on the last 30 days of transactions. The Appraisal will help you start your deal and achieve a real commitment from your customer. Once commitment is established, you can convert from Appraisal to Live Trade, enabling the entire network to view your car. Note that if the commitment is too far above the appraised value, you will be unable to convert to a Live Trade.

Our biggest complaint from our network is the lack of commitment from the sellers - either no commitment or above market asking prices. These changes are designed to alleviate these frustrations, as well as increase the participation from the dealers. We are aware all dealers want to know what buys the car. We are also aware that dealers don’t like the auction process and want the bidding closed once they have bid the money.

Designed for Trades. Faster. Safer. Better

The iLUXCARS Update

2008-08-07T10:59:00.001-07:00

By now you should have received our first issue of the iLUXCARS Update which includes a comprehensive Pricing Guide. The guide includes current wholesale prices for our vehicles over the last 4 months.

We know that your business office staff often throws these sorts of things directly into the circular file, so if you haven't seen it, you really, really need to ask for it.

If you want, you can download the latest report by clicking on the link 'August Market Report' in the 'What's New' section of your home page after you login.

The report is the result of extensive analysis on live iLUXCARS transaction data. Over $850 million worth of luxury and exotic cars have passed through the iLUXCARS System in the last 18 months. In other words, this isn't just our opinion. We have substantial proof.

The data included in the report is specific to selected high-end luxury vehicles – our specialty. We've chosen the makes and models included in the report for many reasons:

One, we have extensive data about all of these vehicles – prices, options, colors, mileage, etc.

Two, this is the center of our expertise – we trade more of these types of cars than nearly anyone in the world.

Three, we have been asked for access to our data about these cars by everyone – the demand, seriously, has been a bit of a surprise.

Four, and possibly most important, there is no other good source of reliable data on these vehicles available today.

If you haven't seen it or can't find it let us know and we'll send you another copy. We have a feeling that you'll be glad you did.

Your Questions, Answered

2008-07-25T10:21:00.000-07:00

The Top Two Questions asked of our account representatives go something like this: "What buys the car now?" and "What's the deal on that car?"

The cars in the iLUXCARS Live Trades list are, well, Live Trades. This means that on many cars, we don't actually know the answer to these questions. That's because the seller doesn't know. And the seller doesn't know because their customer doesn't know.

Starting today (July 25th), when we DO know "What buys the car now" AND we have a real commitment from the seller AND the target price is on the money, we're moving the car to the top of the list. Cars with this sort of commitment and price are now in the "Buy it Now" group at the top of the Live Trades list in a friendly green color. Click the "Buy It Now" button and you win. No bidding, no waiting, you don't even need to call us.

For the FEW of you who haven't logged in today it looks like this:

Also starting today you'll notice that we've added the status of every deal in red bold letters right on top of the vehicle description. The "deal status" will be one of the following:

Target price buys car - This means we have a solid commitment from the seller and the car is priced on the money. These cars are in the "Buy It Now" list.
Client committed at target price - The seller has a commitment at the target price to make the deal. Needs the target or close.
Need buy bids to work with, no commitment from client - The seller has NO commitment from the customer and is looking for buy bids to start their deal.
Need buy bids to work with, client commitment price is over market value - The seller has a commitment from their customer but it is over market value. They need buy bids to start the deal.

To help answer another question we hear on a regular basis - "What do I tell the customer" we've improved and renamed the Appraisal Report.

The Appraisal report can be a powerful tool you can use when starting your deal with today's, how should we say, optimistic customer. Selling a Car 101 - always blame the market.

To print a report, click on "Appraisals" from iLuxCars Offers, select the deal you are working on, and click the "Report" button (circled in red below). To see a sample, click here.

As always, we're open to suggestions on how to make the System better. And, as always, we're happy to answer any questions.

Texas Wisdom

2008-07-21T08:53:00.000-07:00

There is an old saying in Texas that goes like this: “If all you ever do is all you’ve ever done, then all you’ll ever get is all you ever got.”

Yes, the market is a little rough. Yes, prices have dropped. Yes, everybody is scared. But, cars are still being sold when you can put the right number on the trade.

And, there is no better way to ensure the right number than to put every trade into the iLUXCARS system. Simple. Risk free. Every time.

Today is, after all, the start of last 10 days of the month. You need to finish strong. There are deals that will be made and, we're quite confident, iLUXCARS can help you make these deals. Assuming, of course, you're willing to change what you normally do.

Just like they say in Texas.

Do-it-yourself

2008-07-11T10:03:00.000-07:00

Shortly after we made our 5 Minute Appraisal Commitment the number of appraisals entered into the system got a big bump. And, the number of requests we received about allowing you to convert an appraisal to a Live Trade increased as well.

So, we're going to let you do it. Last night we added a simple, do-it-yourself way to convert any appraisal into a Fresh Trade. To do this, select the appraisal in the list and click 'Convert.' You'll have the chance to adjust your target price and we'll do the rest. The network will be notified immediately and we'll get to work on your deal.

For the visual minded group - it looks like this:

Something Different

2008-07-08T10:32:00.000-07:00

The first of every month we sit down together - sales, logistics, development, accounting, administration, marketing, and management - and ask the same question: "What are we going to do different this month?"

Last month, no matter how bloody it was, is all over but the counting. And if you're in the car business, well, there probably isn't that much to count. So while you could trudge along doing business the same way you did last month – it might be time for a small, but potentially very positive improvement.

Why not enter every high-end trade into the iLuxCars System as an appraisal? Just spend 2 minutes to enter every trade (even if you haven’t taken it in yet), and get an immediate appraisal from our extensive, nationwide market data in a guaranteed 5 minutes (Our Commitment).

Print it out. Educate the customer. Make your deal. Once you make the deal, give us a call and we'll open the vehicle up for bidding to the entire iLuxCars Network – nearly 1,000 members strong. Accept the iLuxCars offer – and we take care of everything. The car is off your lot - fast. Fax your title – get paid – fast (48 hours or less). Now that's something different, right?

And here's another benefit: entering your car into the System gives you a permanent record of every car. So, if your negotiation drags on for a few days – you'll have an easy way to re-start your deal.

If you’re not running every luxury and/or exotic trade through iLuxCars before you try to put a number on that car in today’s market, you are taking a serious risk. One of those money-losing sort of risks.

So, what are you going to do different this month?

10-Year Low

2008-07-02T12:15:00.001-07:00

We're more than sure that you don't need the New York Times to tell you this, but times are a little tough right now in our industry. (But, it is an interesting article, if you want to read it: "New York Times - Car Sales at 10-Year Low")

Prices, no matter what you want to believe, have slid.

In case you're still in denial, here's an example: yesterday (July 1), we had a somewhat desperate inquiry on an '04 360 Spider, Red / Black, racing seats, F1, 9,000 miles, all service. The minimum the customer has to have is $160k. This is the amount left on the customer's loan. This car, we can say with absolute certainty, isn't worth any more than $140k, best case, wholesale. $155k, best case, retail.

Silly, optimistic customer, you say? Unfortunately, it isn't that simple.

First - if the customer can't get his $160k on the trade (and he won't) someone doesn't make a deal. Second, and far more sinister, it isn't just uneducated customers that are in denial (by 12.5%). Our members - that would be you guys - are in the same boat.

Why? Nobody is buying. Unless - and this turns out to be the important bit - unless the car is already sold. Which means when you DO get a buyer, you need access to good cars. Nationwide access. iLuxCars access. Because, as it turns out, if you aren't buying and selling cars you aren't in business.

Like we keep saying - Faster. Safer. Better.