5 Reasons Your Pre-Owned Lot is Underwater & How to Save It

Letter from our CEO, Bruce Thompson:

I know this crisis is creating great anxiety and apprehension in our industry and our country as we as we mount an all out war against the Coronavirus. Frankly, I was very concerned as I had no idea how the Pandemic would impact our young business. As it turns out, CarOffer is proving to be a very powerful tool for Dealers during this environment. We've been setting volume records each day this week as Dealers find our automated platform the most efficient way to source and liquidate inventory during these times.

You'll find a "White Paper" from Black Book via this link. I think they're spot on with their analysis. With interest rates at zero, government checks in the mail, more stimulus on the way and OEMs cutting production because of parts or other, the circumstances are setting the stage for huge pre-owned pent-up demand. My hunch is that once the smoke starts to clear from the virus, pre-owned prices will soar. The CDC is saying we could start to see the downside of the curve later next month. Once we see that, like China and S. Korea, things will start getting back to normal. The low interest rates and stimulus will remain for at least a year.

On behalf of the entire CarOffer team, we are here for you, and look forward to continuing to help all Dealers during this challenging time. I'd encourage you to take 15 minutes and schedule a demo. We can help you right now and we can be a great partner for years to come. Whether you need to source or liquidate pre-owned inventory, you need to see our unique platform. 

I wish you and your families safety and health in these trying times. We will endure and we will overcome.

Bruce Thompson, Founder + CEO