New year has just begun, and 2007 tax season may be almost over
Retailers competing for consumers' tax refund money
Dealers begin stocking lots for tax season in early fall; consumers start shopping in Oct
Busiest day for Tax Refund Services Tax Max the day after Thanksgiving for processing promissory contracts
Tax Max expected to process 100+ applications each day in Dec
Did 3.5K deals by Nov 30, 2006, compared to 3K by Nov 30, 2005
Significant Points :
Dealers need to get in as quickly as possible
End-of-year activity expected to impact 1st quarter sales
Dealers advertising ability to sell cars using promissory contracts
Selling cars on consumer promise to pay when refund received can be risky
Less than 10% of consumers fail to return; still significant loss to small dealers
More interest from franchise dealers who can take gamble for extra sales
Read QuotesClick Here for Full Digest and Source Article:
http://www.automotivedigest.com/view_art.asp?articlesID=21179
Sourced From: Used Car News, January 1, 2007
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