IARA's Certified Automotive Remarketer (CAR) Program
UNIT: Pre-sale Activities
COURSE: CAR-11 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
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