With the massive onslaught of vehicle recalls it is pretty much guaranteed that all parties involved are paying attention. Today that ranges from consumers to OEMs to dealers to insurance companies; and tomorrow that will soon include ride share companies like Uber and Lyft.
One of the biggest, and perhaps most well-known recalls, is unrepaired Takata airbags which could explode upon vehicle impact. As you can imagine, an exploding airbag is of grave concern to consumers. It is also a major financial liability to the automotive and insurance industries. Due to its massive scale, this recall is exacerbated by lack of parts availability and, while the media feeds consumers stories of death and destruction because of failure to repair these airbags, consumers are faced with long delays and heightened anxiety.
No matter how hard you work to disclose an open recall to your customers, there may come a time when customers start factoring recalls into their buying decisions, based on the barrage of problems, delays and parts availability.
Tools to check a vehicle’s VIN for an open recall are accessible to consumers, who are likely to consult them while perusing your used car inventory. Because of this, regardless of whether it’s legal to sell a used vehicle with an open recall, that vehicle may still end up sitting there on your lot simply because nobody wants to buy it.
Let’s take a look at how open recalls will affect a future buyer’s decision-making process: Read full article here.
By Chris Miller, Source: DigitalDealer.com