INCOME TAX REFUND SALES DOWN THIS YEAR !!!

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INCOME TAX REFUND SALES DOWN THIS YEAR !!!

Postby combs.3602 » Mon Mar 11, 2013 11:17 pm

Hi guys - Since 1990 we have had a large campaign for income tax refund sales.This year is way off for us,is anyone else experiencing this ? We usually would have 3 or 4 folks lined up in the lobby with all the offices occupied closing deals for atleast 2 - 3 weeks ,and then start tapering off,but this year sales are slow and spaced.In addition, in years past we would see many checks for 4k for a down but that also seems off.We realize that the IRS held off processing info this year till Jan 30,so we expected the sales to start mid February but we arent seeing the volume we have in the past.Anybody else that has set forth a large campaign experiencing this ? Thanks Dennis Combs Boise,Idaho
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Re: INCOME TAX REFUND SALES DOWN THIS YEAR !!!

Postby localmotors1.7065 » Tue Mar 12, 2013 2:00 am

Our February business was great! The month of march has started out slow. We were expecting the first three weeks of march to be strong. The overall refund does seem to be about 2000 to 2500 this year .
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Re: INCOME TAX REFUND SALES DOWN THIS YEAR !!!

Postby woodards.2930 » Tue Mar 19, 2013 4:12 pm

Honestly, my lot is small in comparision with most of you. I only inventory about 20 cars a month. My turn has been wonderful.... until Jan, and Feb and March is alwful so far. I am selling half what I was a month. I have gone from 13 avg to 7 or 8. I am trying hard to put my finger on the problem but it seems the "lower end" lots are turning more and the 5k avg ACV lots are holding longer. I am in the holding longer department right now. My avg turn is about 7 days but not anymore I have a few that stay 20! I am here looking for ideas for after tax season.
Tammy Woodard, CMD
Woodard's Auto Sales
Nahunta GA
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Re: INCOME TAX REFUND SALES DOWN THIS YEAR !!!

Postby markgallaher449.4224 » Wed May 15, 2013 2:32 pm

we have 9 lots soon to be 10. we had 350 units in stock averaging about $8000 acv.
we are buying at about max $5500 and average about $6500.
we think the cheaper cars will be easier to sell by requiring smaller down payment.
our tax season sales were about 100 less than last year.
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Re: INCOME TAX REFUND SALES DOWN THIS YEAR !!!

Postby combs.3602 » Fri May 17, 2013 6:19 pm

Mark - Yeah, I had ten stores a few years back spread over a couple of states;it was exciting. :D Thats too cool, keep em coming.I might try to build back a few more myself.I dont understand why the tax sales were off this year and some of my non-BHPH competitors had increased sales.I am still looking for the 50 sales we were down ,but they are hard to find unless you are willing to decrease the down pay even further,ha! :D thanks Dennis Combs Boise
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