Monday, May 2, 2011

Winston Salem Used Car Dealer Needs Cars

There is a serious shortage of vehicles due, in part, to the crisis in Japan and Libya. Because of this shortage, Frank Myers Auto Maxx needs used cars & is willing to do almost anything to get them... including paying up to $4,000 more than your vehicle is currently worth!

Dealers nationwide have experienced a spike in sales recently, but Japanese automakers have slowed production to a near standstill due to the recent earthquakes. This means there are not enough vehicles “for sale” right now to keep up with the current sales pace. One local car dealer, Tracy Myers from Frank Myers Auto Maxx, invented a unique solution to the problem.

"Our business can't afford to wait for this problem to run its course," said Tracy Myers, owner of Frank Myers Auto Maxx. "We need to keep selling cars. But with less than a 23-day supply of on hand, we need to do something pretty drastic. That's why I’ve agreed to pay up to $4,000 more for your trade-in than it's currently worth. I'll even buy your current vehicle even if you don't buy one from us and I'll pay off your loan or lease early, just so we can keep our inventory from running dry."

This unusual proposal makes sense because rather than removing a car from the inventory at the time of purchase, you actually replenish the supply when you trade in. Tracy Myers says that each transaction has a unique “Inventory Footprint” with some transactions resulting in -1, some in 0, and some in +1. According to Myers, “This month we’re looking for 0’s and +1’s, which means we’ll buy your current vehicle even if you don’t buy one from us and we’ll pay off your loan or lease early, just so we can keep our inventory from running dry.”

How Long Will This Last?
When asked about timing, Myers explained, “This problem should only last about a month. I expect the supply to level out by June as the manufacturers pick up the pace and other dealers’ sales slow down. But we only have 12 months in a year, and I’m not willing to go dark for one of them.”

Automotive experts indicate that this inventory correction could last anywhere between 10 and 45 days. The offer to pay up to $4,000 more than your trade-in is worth and eliminate the remaining payments on your loan/lease is good for 7 days or until the inventory supply return…whichever comes first.

Trader’s Market?
“It’s a lot like a perfect storm,” says Myers. “Nobody could have predicted the devastation in Japan or the war in Libya. When you put those 2 events together with the record auto sales in the first quarter of 2011, you’ve got a shortage on vehicles. Until it’s resolved, this ‘perfect storm’ creates what’s known as a ‘Trader’s Market’ which places upward pressure on the value of your trade. That extra value gives me the leverage I need to negotiate favorable terms with your original bank.”

The Banks Want Out
To make the timing even better, it seems that some banks are anxious to eliminate loans made between two and five years ago. “There was a lending frenzy during that time that caused many banks to make deals they wish they wouldn’t have made (now known as toxic assets). Now they’re trying to clean their books up…and many are more than happy to be finished with loans that aren’t yet paid off. This works in your favor.”

“It truly is a good opportunity for all involved: the bank gets their money, I get the inventory I need, and you get the nicer, newer car you want. There are no losers in this deal!” trumpeted Myers.

People Over Credit Profiles
“At most dealerships, the credit score matters more than the person. But our relationships with many flexible lenders allows us to match your credit application with the lender most likely to approve you…a bank that will take the person into consideration, not just the credit score. Heck, just looking at the credit scores is what got us into this mess in the first place. It’s high time to put the person first, in my opinion. That’s how we operate here.”

What Next?
Myers expects a heavy response to this offer, so please call ahead and make a VIP Reservation to have your current loan or lease evaluated. Walk-ins will be accepted, though may require a short wait. If lines are busy, please keep calling.

Please call 336-767-3432 or visit Frank Myers Auto Maxx at 4200 North Patterson Avenue in Winston Salem, NC right away.

FAQ’s For Tracy:
Q: Who is this right for?
A: This is good for anyone who is currently making a car payment but would like to switch to a nicer, newer car and stop making his or her current payments.

Q: Will there be a negative impact on my credit score?
A: No. Your current lease or loan will be paid off and there will be no negative consequences. If anything, it could help your score.

Q: What will my new payment be?
A: That depends on what car you choose next. Often we can keep your payment the same and sometimes the payment is actually a bit lower.

Q: How much will I need for a down payment?
A: There is no fee for us to evaluate your trade-in and eliminate your payments. And many of the banks we work with offer no to low down payment options. Plus my Transparent Trade Appraisal Process means you’ll receive a fair, accurate and complete evaluation of your current vehicle and situation, with no pressure. You’ll be able to make an intelligent decision with all the facts.

Q: Do I have to have good credit?
A: Good credit makes it easier on us…but we really need cars right now. So please bring in your car so we can have a chance at eliminating your payments no matter what your credit is like. My Everybody Rides Program is designed to help you get approved even if you’ve made mistakes in the past.

Q: What if my car is paid off?
A: Even better. Your car may be worth more right now than it has been in the past. So trading in right now could be a wise investment. This is the perfect timing. And anybody who trades in a car that’s already paid off will receive a $500 voucher to be used toward the non-discounted dealer suggested retail price of any Certified vehicle.

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