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By NAPA
When in search of a new-to-you vehicle, consumers are largely left with two options: dealerships and private sellers. Both have pros and cons, but if you decide to skip the
link hidden, please login to view, there are a few steps you should be sure to take. Knowing how to buy a car from a private seller can reduce the overall cost of a used car purchase, but you have to do your due diligence. Here’s a few tips for how to buy a car from a private seller. Research
With the right information, you’ll reduce the risk of being taken advantage of and be in a better spot to negotiate. Assuming you already know the type of vehicle you want, search available resources like
link hidden, please login to view to get a handle on what that vehicle at different years and mileages is worth. Ask a seller a lot of questions, including the vehicle’s history, usage, maintenance, mileage, VIN, known issues and any accidents or repairs. Use the VIN to pull up a history report online from link hidden, please login to view or link hidden, please login to view to ensure the title is not salvage, rebuilt, deemed a lemon or has any other substantial red flags such as existing liens. You can also run the VIN through the link hidden, please login to view for free to check for theft or salvage records. And if you need financing, get all that hammered out before heading into talks with a seller. How to Avoid Scams
Be aware of a number of potential scams for potential car buyers. Do not place money in escrow at the seller’s behest. Do not purchase a vehicle without a title or a title that’s not in the name of the seller. Match the VIN number from the windshield tag and door sticker to the title. If a seller’s answers don’t match up to a vehicle history report, that’s a red flag. Private sellers selling multiple cars may actually be a dealership selling damaged products under the radar. Sellers should be willing to meet in person. Beware of identity theft. Ultimately, if you have a bad feeling, trust your gut and walk away.
Protect Yourself
If you like what you hear, meet in a public place in the daytime and bring a friend. Take a picture of the seller’s driver’s license and send it to another friend who knows where you are. Also, get a photo of their insurance information, and check that their ID matches the name exactly as it appears on the title and registration, checking to make sure there are no additional names, etc. If emissions inspections are required in your state, ask for proof that the vehicle has passed.
Inspections
Operational inspections should include a test drive and basic use items such as
link hidden, please login to view, horn, windows, locks, steering, link hidden, please login to view, air conditioning and heat, radio, infotainment, cruise control, and general performance at stop-and-go and highway speeds. Check tire wear for any signs of unevenness that might hint at suspension or alignment issues. Use your senses to check for unusual sounds, smells and visual cues that tell you something is off. Use a link hidden, please login to view to look under the car for any rust or damage. Pull back the carpet at the edges to look for any signs of flood damage like silt or mold. Use a link hidden, please login to view to run any codes from the link hidden, please login to view port. All OBD systems should read ready, if not then the computer memory may have been recently wiped to hide a trouble code. You can also have your local link hidden, please login to view perform a pre-purchase inspection. If the seller balks at an professional inspection, walk away. Negotiations
If all checks out, negotiate a fair price. Know that it will likely be higher than you want and lower than they want; that’s just the nature of negotiation. As a final precaution, make the purchase contingent on passing a pre-purchase inspection, which you can get at your local
link hidden, please login to view. Save this as the last step and be prepared to buy if the vehicle passes. Ensure the bill of sale and title transfer are accurately filled out, make sure you’re covered for insurance before you drive away and don’t forget to register the car in your name. Congratulations on your new-to-you vehicle! Now protect your new ride with a good set of
link hidden, please login to view and give it a unique look with link hidden, please login to view. Check out all the code
link hidden, please login to view available on link hidden, please login to view, or trust one of our 17,000 link hidden, please login to view for routine maintenance and repairs. For more information on how to buy a car from a private seller, chat with a knowledgeable expert at your link hidden, please login to view. Photos courtesy of Blair Lampe.
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By APF
link hidden, please login to view Source:
link hidden, please login to view Activist investors targeting auto-parts retailers are taking hits to their investments, and Amazon isn’t helping.
When hedge fund Starboard Value LP disclosed a stake in Advance Auto Parts Inc. in 2015, it said the stock, then at $171, could more than double. The retailer’s shares have instead nearly halved since then, after warning weak sales will continue for an industry that’s also drawn interest from billionaire Carl Icahn. Advance Auto’s peers O’Reilly Automotive Inc. and AutoZone Inc. also have also plunged this year amid disappointing demand.
SOURCE: BARCHART
Perhaps the biggest bogeyman weighing on the shares is Amazon.com Inc., which sent shockwaves across the retail industry in June with its $13.7-billion acquisition of Whole Foods Market Inc. The online juggernaut has also been making inroads with autos, launching a car-research site and a parts marketplace last year. While car-part distributors -- with their technical expertise, trove of components and ability to quickly deliver to mechanics -- are more insulated from e-commerce than other retailers, though they’re not invincible.
“We fear an increased level of price transparency -- these companies either more aggressively price or promote their products to drive the same level of sales growth,” Seth Basham, an analyst at Wedbush Securities, said of the auto-parts retailers. “I don’t think it’s a primary driver of what’s been hurting same-store sales in the industry this year, but that doesn’t mean there can’t be a bigger impact going forward.”
Investor Interest
The more immediate challenges dragging on the industry include economic uncertainty for low-income customers, higher gas prices and warmer weather that has eased the wear and tear on consumers’ cars, Advance Auto Chief Executive Officer Tom Greco said Tuesday.
Starboard’s view is that Amazon is a mild headwind -- at most -- to the industry, a person familiar with its strategy said. The New York-based hedge fund is pleased with Advance Auto’s efforts to cut costs and bolster its online presence and sees earnings improving early next year, said the person, who asked not to be identified because the matter is private.
Further encroachment by online rivals could pose a threat to industry profit margins that are in excess of 20 per cent -- part of what initially drew investors like Starboard and Icahn to the aftermarket parts business.
With the average age of vehicles on American roads approaching 12 years, investors also are betting an older vehicle fleet will mean more repairs and parts replacement. To capture that expected growth, Icahn has strung together several companies that deal in automotive parts, including service and retail chain Pep Boys, Auto Plus and parts supplier Federal-Mogul.
For now, e-commerce represents a sliver of the $277-billion aftermarket parts business, according to estimates from Wedbush and the Auto Care Association, an industry trade group. Online sales were about $11-billion last year, with EBay Inc.’s roughly 40-per-cent share being the largest, Wedbush estimates. Amazon had about a 25-per-cent share, though it’s growing at a rapid clip, Mr. Basham said.
Amazon Encroaches
Amazon launched the Amazon Automotive store in 2006 and has been expanding its inventory since then. It’s added a parts-finder filter that lets shoppers enter the make and model of their cars to find the correct parts.
“We’re continually expanding our selection and improving the customer experience with things like our Part Finder, Amazon Garage and, most recently, Amazon Vehicles,” a company spokeswoman said in an email.
Icahn Automotive, which owns Pep Boys and Auto Plus, and Starboard declined to comment. Spokespersons for O’Reilly, AutoZone and Advance Auto also declined to comment.
In trying to assess the potential threat from Amazon and other online parts sellers like RockAuto and EBay, analysts are honing in on retailers’ exposure to the consumer-facing “do-it-yourself” market, as opposed to the “do it for me” approach in which retailers sell to professional mechanics. The do-it-yourself market could be more vulnerable because consumers who aren’t in a hurry to buy a new wiper blade or spark plug may go online to find the cheapest price.
DIY Slowdown
The do-it-yourself segment already is lagging, according to the Auto Care Association, which estimates sales will grow at a compound annual rate of 3.8 per cent in the five years ending in 2017, compared with a 4.4-per-cent increase for the do-it-for-me market.
The slower growth also is a reflection of cars getting increasing complex and loaded with technology, which contributes to more repairs necessitating technicians, said Behzad Rassuli, senior vice president of strategic development at the Auto Care Association. Some bumpers, for instance, now are built with embedded sensors that need to be properly calibrated.
“The opportunity for the consumer to repair their own vehicle has been dwindling,” Mr. Rassuli said.
Mr. Icahn said as much when speaking about his acquisition of Precision Auto Care Inc. in June, the latest addition to his chain of auto-repair shops. He’s also planning to take advantage of higher utilization of cars driven by the growth of ride-hailing businesses, he told the Wall Street Journal in an interview at the time.
Greg Henslee, O’Reilly’s CEO, has said the impact of companies like Amazon will be limited because they will struggle to sell component to consumers who don’t know what’s wrong with their car. Online retailers “will continue to take a little bit of market share here and there,” Mr. Henslee said on an earnings call in February. “I don’t see them nearly as one of our most prominent competitors.”
Digital Experience
Even if their expertise diagnosing car troubles offers some protection, traditional parts retailers still are under pressure to improve their digital experience, especially since a buyer will often go online to ensure a part is in stock before picking it up at a store.
Advance Auto is investing heavily in technology to ensure a “consistent experience every time, both in-store and online,” Mr. Greco said on the company’s earnings call Tuesday. He told analysts consumers will have a “faster and more frictionless experience” online.
If you’re a parts retailer, “you’re definitely concerned,” Wedbush’s Basham said. “You’re thinking about ways to defend your turf and to capitalize on the way consumers are changing their behaviour.”
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By Counterman
IMR Inc., a full-service automotive market research firm, has released its latest insight, an update from its 2021 insight on the importance of private-label and national-branded parts at independent repair shops.
As of August 2022, more parts purchasers at independent repair shops reported knowing what brand was in the private-label box (20.8%) compared to 2021 (19.6%), with purchasers at smaller shops (one to three bays) more likely to know what was in the private-label box (22.6%) compared to larger shops with eight or more bays, where purchasers were less likely to know what was in the private-label box (16.4%).
This year’s survey results showed that 40.8% of shops said that their first-call supplier carried mostly private-label parts with only a few national-branded parts options, which is a decrease from 2021 survey results, at 42.6%. Of that 40.8%, 19.1% said that they go to another supplier to purchase nationally branded parts, 10.3% said that they always or frequently do and 66.7% said that they occasionally do.
When shops were asked about the likelihood of switching their first-call supplier if it changed to offer majority private-label brands with limited national brands, only 6% of shops said that they definitely or very likely would switch, compared to 2021 survey results, where 15.2% of shops said that they definitely or very likely would make the switch. However, of the 59.2% of shops that said their first-call supplier doesn’t have heavy private-label branded categories, the number of those who would definitely/very likely switch rises to 8.8%, and another 13.5% say they would be likely to make a switch.
Overall, more than half of shops surveyed reported in 2022 that they occasionally go to another supplier for nationally branded parts at 66.7%, while 17.9% rarely go to another supplier. 10.3% reported going to another supplier frequently and 0% reported always going to a different supplier for nationally branded parts.
For more information on IMR Inc., visit
link hidden, please login to view. The most recent Insights from IMR Inc. can be found link hidden, please login to view.
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By RockAuto
Get a 5% instant manufacturer rebate with purchase of select Walker Products parts.View on RockAuto.com
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By OReilly Auto Parts
Supplies Needed for This Job: 1. Safety Glasses:
link hidden, please login to view 2. Gloves: link hidden, please login to view Facebook: ...
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