Frank Myers Auto Named Top Merchant

Winston-Salem, NC: Nancy Davis, The Family Ambassador for Frank Myers Auto Maxx, is excited to announce that they have been chosen as a Top Merchant on MerchantCircle. They received a letter from MerchantCircle Headquarters in Mountain View, California announcing, “Congratulations! You rank among the most successful Merchants using MerchantCircle.” In a neatly packaged envelope with a MerchantCircle logo printed on the outside of the envelope, Frank Myers Auto Maxx received a “Top Merchant on MerchantCircle” decal.

Also included in the envelope was a letter that reads, “Now you can help your customers indentify you as a reliable and trusted source on the nation’s largest social network of local business owners.”

“It is always an honor to be recognized by an organization as reputable as MerchantCircle. I am truly grateful to them for allowing us to be a part of their online community,” said Tracy Myers, owner of Frank Myers Auto Maxx.

The Top Merchant badge is given to merchants who distinguish themselves as a reliable and trusted source on MerchantCircle. These merchants rank among the most successful in using MerchantCircle to find customers and promote their business online.

About MerchantsCircle: MerchantCircle is a Mountain View, California based start-up company which helps small businesses reach local customers through referrals based on on-line advertising. Its CEO is Ben T. Smith, IV. The company was founded in 2005, and was awarded the title of "Media Newcomer of the year" by AlwaysOn magazine in 2007. In June 2008, MerchantCircle announced over 5 million monthly users, 500,000 registered merchant users, and over 5,000 paying client. Quantcast reports MerchantCircle's estimated monthly users at 5.7 million. As of July 2009, MerchantCircle has over 20M unique consumers.

Recently, MerchantCircle has conducted numerous research projects and surveys into its large base of small business owners. Those surveys have been quoted in the The New York Times and Forbes - amongst others.

About Frank Myers Auto Maxx: The original Frank Myers Store was started more than 83 years ago by Frank Myers, the Great-Grandfather of the current owner Tracy Myers and the Grandfather of the previous owner, Franklin Myers. Tracy has spent the past 15+ years trying to change the landscape of the car business and the bruised reputation of car salespeople all over the country. Tracy was one of the first 100 Certified Master Dealers in the Nation, a NIADA Eagle Award Winner and was the youngest recipient ever to be honored with the highest available distinction in the used car industry...the National Quality Dealer award. Frank Myers Auto Maxx was recently recognized as one of the Top 28 Independent Automotive Retailers in the United States by Auto Dealer Monthly Magazine, one of the Top 10 Internet Auto Retailers in the Nation & one of the Top 3 dealerships to work for in the country by The Dealer Business Journal. Tracy is also the Co-Creator of the world famous "Everybody Rides" program and author of the best selling book "Car Buying Secrets Exposed: The Dirty Little Secrets of a Used Car Dealer", available at Amazon.com and better bookstores. He is a Christian Business Owner whose goal is to run his business "By the Book". The dealership specializes in helping people find, qualify for and own the vehicle of their dreams with little or no money down...even with less than perfect credit. http://www.frankmyersauto.com

Frank Myers Auto Names Sales Pro of the Month

Winston Salem, NC - Jim Pappas has been named “Non-Commissioned Sales Pro of the Month” for December 2009 at Frank Myers Auto Maxx in Winston-Salem, NC. Pappas is a Certified Non-Commissioned Sales Pro as well as a leader in his church and community.

Originally from Winston-Salem, Pappas has a passion for selling cars and building strong customer relationships that last. He immediately puts new customers at ease with his positive personality and respectfully puts his customers first by gaining a thorough understanding of their needs. He brings the dealership high standards of professionalism, fair dealing, and a following of satisfied customers.

Frank Myers Auto Maxx is located at 4200 North Patterson Avenue in Winston Salem, NC.

For more information, contact Jim Pappas at 336-767-3432 or visit http://www.frankmyersauto.com

Frank Myers Auto Announces 50% Growth For 2009

Winston-Salem, NC: Frank Myers Auto Maxx, one of the top 30 used car dealerships in the nation, today announced that they are projecting a 50% growth in its business for their fiscal year which ends Dec. 31, 2009. This is a 50% increase over the same period of the prior year.

“While we are not immune to the effects of the economy, I am confident in the strength of our people, the quality of our products and soundness of our people-friendly processes,” said Tracy Myers, Certified Master Dealer and owner of Frank Myers Auto Maxx. “We will continue to manage expenses and invest in our team members which will ultimately deliver a unique car shopping experience for our customers, and we will emerge an even stronger industry leader than we are today.”

"We delivered solid revenue and foundational business growth in 2009 by staying focused on the basics while maintaining our own operating discipline," said Rich Little, the self-proclaimed Credit Miracle Worker at Frank Myers Auto Maxx. "Another huge area of growth was our new automotive service facility. It has grown much faster than anticipated, we envision greater things from it in 2010 and it’s a key element of our future."

"As a result, we are entering our new year with larger customer bases and stronger positions in all of our core businesses. This gives us confidence that we'll have an even better year in 2010," Little said.

About Frank Myers Auto Maxx: The original Frank Myers Store was started more than 83 years ago by Frank Myers, the Great-Grandfather of the current owner Tracy Myers and the Grandfather of the previous owner, Franklin Myers. Tracy has spent the past 15+ years trying to change the landscape of the car business and the bruised reputation of car salespeople all over the country. Tracy was one of the first 100 Certified Master Dealers in the Nation, a NIADA Eagle Award Winner and was the youngest recipient ever to be honored with the highest available distinction in the used car industry...the National Quality Dealer award. Frank Myers Auto Maxx was recently recognized as one of the Top 28 Independent Automotive Retailers in the United States by Auto Dealer Monthly Magazine, one of the Top 10 Internet Auto Retailers in the Nation & one of the Top 3 dealerships to work for in the country by The Dealer Business Journal. Tracy is also the Co-Creator of the world famous "Everybody Rides" program and author of the best selling book "Car Buying Secrets Exposed: The Dirty Little Secrets of a Used Car Dealer", available at Amazon.com and better bookstores. He is a Christian Business Owner whose goal is to run his business "By the Book". http://www.frankmyersauto.com

Report Shows Car Loans Increasing For People With Good Credit

Experian Automotive’s third quarter analysis was just released and the news is good. Consumers with good credit are being given more auto loans. This should come as no surprise to anyone since lenders tightened their standards and criteria during the recession

On a positive note, Experian Automotive says the U.S. automotive lending industry showed signs of stabilization during the third quarter of 2009.

Tracy Myers, owner of Frank Myers Auto Maxx in North Carolina says “At my dealership, I have seen signs of stabilization in the lending market that could spell good overall health for our industry in the long run. The lenders that we work with are making less risky loans right now. As some of the higher-risk loans from a few years ago come off the books, I feel that lenders will be in a much better position to serve our customers.”

So what exactly is considered good credit? What credit score do you need to get a car loan right now?

Melinda Zabritski, director of Automotive Credit for Experian Automotive, told the Detroit Free Press that 83% of all auto loans approved between July and September went to customers who have credit considered prime or better.

Experian’s “prime” credit score ranges from 680 to 739, “super prime” is 740 and higher and “subprime” is 550 and lower. Credit scores between subprime and prime (in this case, 551 to 679) are generally called “near prime” in the industry.

Experian Automotive found that the average credit score for new vehicle auto loans in the third quarter was 775, up from 762 in the third quarter of 2008. The average new vehicle auto loan length dropped from 63 to 62 months when compared to the third quarter a year ago.

If you’re in the market for a used car loan, the average credit score being approved increased to 684 in the third quarter from 670 in the third quarter of 2008. The average used vehicle car loan length decreased from 59 months in the third quarter of 2008 to 57 months in the third quarter of 2009.

So which lenders are giving the most auto loans to car shoppers right now?

For new cars, Toyota Financial Services had the highest market share in the third quarter at 11.2%, followed by Chase Auto Finance at 11.1%, GMAC at 9.1% and Ford Motor Credit at 7.1%.

For used cars, Wachovia Dealer Services had the highest market share at 5.7%, followed by Chase Auto Finance at 4.5%, Toyota Financial Services at 3% and Capital One Auto Finance at 1.8%.