Subprime chain adds 4
PHOENIX - Ugly Duckling Corp. has acquired four Florida used-car dealerships, bringing the number of dealerships operated by the subprime used-car company to 66. Ugly Duckling, of Phoenix, purchased the Orlando-area dealerships from DCT of Ocala Corp., a Florida subprime automobile sales and finance company doing business under the name Best Chance.
The acquisition includes vehicle inventory and a loan portfolio of approximately $15 million. Terms of the transaction were not disclosed.
Ugly Duckling also operates dealerships in Arizona, Nevada, Georgia, California, Texas and New Mexico.
ATLANTA - The National Automotive Parts Associ-ation is urging consumers to be more vigilant shoppers when purchasing a used vehicle. The association recommends that a technician check a vehicle thoroughly before purchase. The vehicle body should be examined for signs of an accident or poor repairs.
Among the components that should be checked are engine, steering, brakes and tires. Items such as heater, air conditioner and defogger should be checked, and lights, radios and tape players should turned on and off, the association said.
ATLANTA - The merger of the AutoConnect and Auto Trader Online Web sites is complete. The new site, AutoTrader.com (www.auto
trader.com), became operational Aug. 26. The site combines AutoConnect's listings from 32,000 dealers and Auto Trader Online's used-vehicle inventory from 18,000 dealers and 125,000 individuals. The site, which lists almost 1.5 million used vehicles, is expected to draw 2.5 million Internet visitors a month.
The new site is owned by Manheim Auctions of At-lanta; Automatic Data Processing Inc. of Hoffman, Ill.; and Trader Publishing Co. of Norfolk, Va. Cox Enterprises Inc. of Atlanta owns 100 percent of Manheim and is a co-owner of Trader Publishing.