Federal Reserve announces emergency meeting on auto lending regulations • Click for details

Vehicle Sales

0
+ 0 %

AFN Composite Index

0

+7.00%

Inventory Index

0
- 0 %

SOFR

0
- 0 %

APR 48 Mos.

0
+ 0 %

Carsala: Another Bump in the Road of Vehicle Sales

Auto Finance News

As if vehicle sales weren’t stalled already, now consumers have another tool in their car-buying arsenals: a web site called Carsala.

Carsala offers a number of nifty services, including a Price Checker feature and a team of professional negotiators. With Price Checker, consumers plug in a VIN and the dealer’s price — and a few other identifying factors, like mileage, ZIP code, and color — and the site will rate the sale price on a scale of one to four. Here’s a sample response, based on a 2005 Toyota Sienna query:

“This car is very common in used car inventories. This is based on a search for generally similar cars. We give the dealer’s asking price 1 star out of 4. We think we could get a better price.”

If the salesman won’t budge on the price, consumers can tap the site’s big guns — professional negotiators who will contact an average of 20 dealers to get a better price. They can even arrange for a mechanic to inspect the vehicle, for a fee.

With sites like this one around, vehicle sales are going to be tougher to get done, and margins will continue to shrink.

Related Posts

Bank of America consumer vehicle net charge-offs tick down

Aidan Bush

CarMax Auto Finance originations down 1.5%

David Thompson

Wells Fargo Auto originations soar 110% YoY

David Thompson

Chase Auto originations down 3% YoY

David Thompson

Subscribe To Our Email Newsletter

Join industry professionals who start their day with our curated auto finance news.

* indicates required

By clicking submit below, you consent to allow Auto Finance News (Royal Media Group) to store and process the personal information submitted above to provide you the content requested.

For more information please visit www.royalmedia.com/legal.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices.

Sponsored

Tesla announces new fleet financing program

EV Finance

Subscribe to Our Newsletters

PowerSports Finance - Monthly coverage of the powersports lending market