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CAR-9

IARA’s Certified Automotive Remarketer Program: CAR-9

UNIT:  Pre-sale Activities

COURSE:  CAR-9 Services: Finance / Vehicle History Reports

Overall Module Purpose

The CAR candidate must be able to recognize, explain and describe each of the pre-sale activities including but not limited to verification, transportation, grounding, inspection and reconditioning. Recognize, and describe the end of term process for leased vehicles. Identify and describe services surrounding pre-sale activities such as marketing, finance, warranty and vehicle history reporting. Recognize and explain the unique elements surrounding repossession processes. Recognize IARA adopted industry Benchmarks associated to pre-sale activities and describe measurable, meaningful benchmarks and the parameters that influence their performance.

Course Purpose

The course purpose is to cover two remarketing pre-sale services: Vehicle History Reports (VHR) and Financial Services:

Vehicle History Reports
This section of the module illustrates and explains the need to employ vehicle history reports (VHRs) throughout the remarketing cycle. The various aspects of a VHR and how those aspects may impact vehicle value are also described.

Financial Services
The purpose of this section is to provide the CAR candidate in-depth knowledge of financial services and service contract offerings that can benefit the purchaser of end-of-term fleet vehicles.

Learning Objectives

At the completion of this course, participants will be able to:

Vehicle History Reports
•    Describe the use of VHRs throughout the remarketing cycle
•    Define the various title brands and events contained in a VHR
•    Recognize when a brand or particular event may affect or enhance vehicle value
•    Describe various forms of vehicle history reports
•    Describe the origin of vehicle history report data
•    Explain a sample vehicle history report

Financial Services
•    Describe automotive lender practices
•    Define consumer protection laws
•    Review credit reports * Explain risk-based pricing
•    Calculate debt-to-income ratio
•    Calculate payment-to-income ratio

Return to CAR Program Overview

 


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