FREDERICKSBURG USED CAR DEALERS GROUP MEETS
District 4 of the Virginia Independent Automobile Dealers Association (VIADA) gathered in Fredericksburg, VA, last night just as the Baltimore Orioles were losing their last American League Playoff game to the Kansas City Royals. The VIADA is organized with 8 chapters across Virginia, with state membership growing and nearing the 1,000 mark. Last year, the Northern Virginia District had the highest growth in membership of all the chapters.
Don Sullivan, owner of Sullivan Auto Trading, Inc. in Fredericksburg, is the President of the District 4 Chapter and he led the meeting where about 25-30 people met at Brock’s Riverside Grill in downtown Fredericksburg. The VIADA’s state President, Don Boucher, Jr., of Courtesy Auto Sales in Chesapeake, VA was present at the meeting along with past President and Chairman of the Board, Alvin Melendez, and VIADA’s Executive Director, Lois Keenan of Virginia Beach.
SIGNS OF MORE AUTO LOANS AHEAD
There are so many issues facing independent car dealers in Virginia, and the VIADA serves as a great resource for help with small business consulting and lobbying on behalf of the group’s best interests. In last night’s meeting it was mentioned that the recent lowering of lending standards by US big banks should be a plus to the industry in that independent dealers can sell more vehicles. Not too long ago only loan applicants with Beacon Scores of greater than 700 were considered prime for credit, but now the bar has been dropped to credit scores as low as 620.
Although car dealers see this as a way to grow revenues after years of plateau sales, there are always two sides to every issue. Some are more critical about the ease in loans with single-digit interest rates now available to those with 620+ Beacon Scores, currently considered prime lending deals versus what were once sub-prime deals with double-digit rates. I’m all for better rates! Maybe I’ll go car shopping! I know a lot of good places to buy a used car in the Commonwealth of Virginia.
Mark Hackley is an Account Executive at Holiday Signs, 540-416-3154
6 BENEFITS OF DIGITAL SIGNS:
- Part 1- They Connect With The Community
- Part 2- They Can Be Paid For By Your Vendors
- Part 3- They Grab Attention of the Masses
- Part 4- They Allow You to Own the Media Channel
- Part 5- They Have a Long Track Record of Getting Attention
- Part 6- Use Them for Promoting Loss Leaders
Virginia Independent Car Dealers /Used Car Dealers in VA/
Signage for Car Lots/
Electronic Message Signs for Used car Dealers in Virginia
HOLIDAY SIGNS– www.holidaysigns.com