Leadpile’s Blog

We all have been hearing a lot in the news about a new government bill (CARS) that allows us to turn in our low mileage “clunkers” for cash. The unfortunate thing is is that there are a lot of “unofficial” websites that have come out to try and mirror this program.
The official website where you can obtain more information about this program is at: http://www.cars.gov/.
The specifics about the program are:
Your vehicle must be less than 25 years old on the trade-in date
Only purchase or lease of new vehicles qualify
Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements)
Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in
You don’t need a voucher, dealers will apply a credit at purchase
Program runs through Nov 1, 2009 or when the funds are exhausted, whichever comes first.
The program requires the scrapping of your eligible trade-in vehicle, and that the dealer disclose to you an estimate of the scrap value of your trade-in. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate.

So be aware of other websites or programs that are not the official government program.

It’s been a really bad year for many industries, however the auto finance industry has got to be one of the worst hit. GM has been hit really hard this year with a bankruptcy, and was forced to become a recipient of government bailout money. However, this second half of the year might prove to be a little happier for GM with the roll out of the new Camaro. What little boy (or girl) did not have aspirations of having one of these cars, but never could?
NPR news is reporting that there has been 15,000 of these beauties already sold and 13,000 on back order, but is carefully manufacturing these cars in a timely manner so there does not become a higher supply than demand. So maybe all this buzz will ignite some other auto sales so we can get this auto finance industry going in the right direction! Good luck GM!

Phoenix June 30th, 2009 — LeadPile, The World’s Largest Online Exclusive Lead Exchange announced today record results for its MicroClick Form (http://www.microclick.com) in June, 2009. LeadPile reports a record number of Lead Verticals being served by its MicroClick Form with Lead Sellers producing leads in 61 different verticals in the month of June. This makes the LeadPile MicroClick Form the most widely used Multi Vertical Lead Generation Form in the lead Marketplace and Lead Exchange Industry.

LeadPile’s Centralized Online Exclusive Lead Marketplace supports thousands of affiliates that use the exchange to sell to suitable lead buyers. By using the LeadPile MicroClick Form, Affiliates can focus on driving traffic to their pages and not on managing lead buyer relationships. Over 90% of LeadPile’s active affiliates are currently using the MicroClick form, offloading the responsibility for lead collection, management, technology infrastructure, and quality control to LeadPile.

Astoundingly, LeadPile’s MicroClick form has been used to produce leads as diversified as Tax Debt Relief, Home Improvements, Business Loans, Health Insurance, Equipment Leasing, Credit Card Processing, Cash For Gold and more.

Andrew Jacob, CEO of LeadPile says, “The LeadPile MicroClick Form allows us to handle leads across multiple verticals, including payday, starter credit, debt consolidation, credit repair, bankruptcy, auto financing, and homeowner. While the majority of leads currently being exchanged in the  Marketplace are in the Financial sector, the fact that Lead Sellers are using the MicroClick form to produce leads in over 60 verticals is very rewarding for our team.

Jacob adds, “I would like to personally thank our existing Lead Buyers and Leads Sellers for their business, and it is our promise to everything we possible can to help them in their efforts by continuing to provide the type of technology infrastructure and transparency that they have come to both expect, and deserve, from LeadPile.

To read more, please visit http://www.LeadPile.com/

Financial issues in the auto industry is not NEW news, however Chrysler looking at bankruptcy is news all of us are going to want to pay attention to.

It seems Chrysler headed back into court yesterday to try and sever partnerships it has with Chrysler dealerships nationwide. According to Time.com, “Auburn Hills, Mich.-based Chrysler maintains that it needs to reduce its dealer base by about 25 percent to a leaner network of about 2,400 dealers in order to emerge from Chapter 11 bankruptcy protection as a stronger company.” The unfortunate thing seems to be that these dealerships can’t understand this decision, and truly feel it is going to dramatically affect them. Many of the Chrysler dealerships also had not shown support for Chrysler to sell a majority of it’s assets to the Fiat Group, because this decision would also potentially close all their dealerships. Either way it sounds like a loose-loose situation for the dealerships, and all they are wanting to do is remain open to sell cars. Leadpile really is interested in how this all pans out, not only because we do lead generation in the auto finance industry, but as consumers we are potentially witnessing a mjor corporation file bankruptcy. This potential collapse of this many dealerships ultimately affects numerous industries, not just the auto industry. My question is, if all these dealerships shut down, where will all the inventory/cars be moved to? Would this mean potentially the “slashing” of prices on the Chrysler cars? Stay tuned!

Hyundai started the trend and now GM and Ford are jumping on the bandwagon. These automakers have rolled out new “job loss” protection plans for those looking to purchase a car. According to The Washington Post, “U.S. automobile sales are barely running above an annualized pace of 9 million this year. By comparison, car companies in recent years have sold 16 million to 17 million vehicles. Analysts say the sharp drop suggests that Americans have grown so reluctant to buy new cars that they are even holding back on replacing vehicles that have been in accidents or no longer run.” GM’s job loss plan would cover up to nine car payments of $500 each for customers who lose their jobs, and Ford is offering payments of up to $700 for 12 months.
I am not sure of the specific details of these plans and what sort of “criteria” they set, however this is a positive for those that were a little reluctant on buying a new car. With a little (or lot) of government help, and these sorts of plans being rolled out, maybe there is some chance the auto industry can get back on it’s feet????? Leadpile Lead Exchange is excited about the possibility that there might be some light at the end of this very loooooooong tunnel.

In a previous blog post, I discussed about a “car czar” being appointed to help with getting the struggling auto industry in the right direction.  However, the president has chosen to go another route.  

In recent news, Reuters.com is stating that the president has instead decided to create a government task force. It appears Treasury Secretary Timothy Geithner will be the one to head up this committee. This committee will be overseeing auto bailout loans and other actions related to these struggling auto makers. Details are not out yet, but I am sure we will all be keeping an eye on this.
Leadpile Lead Exchange is anxious for the struggling auto industry to get back on track. However, if by chance there are still dealers or lenders looking for interested car shoppers, we might be a good match to look into getting these leads. Believe it or not there are still some wanting a new car, but I never would have guessed that when driving by the many “ghost like” dealerships. The light is at the end of the tunnel, and hopefully soon the president can be the one to ignite this.

After going back and forth with congress, the auto bailout has been denied. According to Business Week , a major factor in this bailout not passing was the United Auto Workers (UAW) refusal to budge with regards to lowering pay and benefits.  UAW and congress could not come to an agreement with regards to this touchy subject matter.
According to Business Week, “The bill called for $14 billion to be divided between GM and Chrysler, both of which are at the financial breaking point as the recession and consumer credit crunch have crippled their finances. The companies, anticipating failure in the Senate, have hired bankruptcy law firms. Ford (F) has said it doesn’t need federal assistance now but has asked for a $9 billion line of credit in case sales deteriorate below the current level.”  Let’s see how this affects the stock market today.

Leadpile Lead Exchange is keeping a close eye on this situation.  Not only does the auto bailout situation affect us directly with our auto finance leads, but it also affects other financial related lead types that we are generating.  A bailout not passing is going to affect lots of Americans potentially who are some how linked to this industry.  What is going to happen to their financial situation and their jobs?  So is bankruptcy the next answer to this denied auto industry bailout??? We will see…… 

According to Forbes.com, the big 3 auto makers have concluded testimonies in front of Congress. They are requesting emergency financial assistance and failed in their first attempt in front of Congress. Round 2- they get another chance to plea their case. However, Congress is looking to see if these big 3 auto makers actually have a plan in place. According to Forbes, “What they likely want to see is how the carmakers will lower their labor costs and develop more fuel-efficient cars U.S. consumers will want to buy. The companies are happy to lay out their future product plans, which include more hybrids, plug-in electric cars and new turbo-charged gasoline engines that sip fuel. But the rest is tougher to do.”  Let’s see how the next week or so pans out for GM, Chrysler and Ford.  My fingers are crossed for you.

Leadpile Lead Exchange, and I am sure all other lead companies, are hoping something positive comes out of the meeting with congress. We would love to see the demand pick back up!  

We all know what is going on with the economy and how it is affecting the auto industry. However, yesterday MSNBC stated that Michigan (home of GM, Ford, and Chrysler) lawmakers are reaching out to the Federal Reserve Chairman Ben Bernanke and our nation’s treasury secretary to help loosen up the credit requirements. This is in hopes that something can be passed with regards to the 700 billion dollar bailout. Lawmakers are concerned the status of the economy is going to cripple our auto industry.

The sad part about this is the lawmakers are estimating at a reduction in car sales by almost 30%. They estimate this could drive car sales down to roughly 11 million vehicles sold per year, and this is lowest figure since 1983. At this point, having lawmakers step in might be a good idea to help to prevent a bad situation from becoming devastating to the auto industry.
This sort of drop in demand by consumers wanting a new car, is also affecting the lead volume in our marketplace. Our goal is to still capture those consumers that need and want a car in this tough economy.

Ford is stepping up and taking action to assist parents in controlling the speed when their teenager are behind the wheel. Teenagers account for a large percentage of car accidents, mainly due to speeding.  Ford has just introduced a new feature called “My Key”.  My Key will play a major role in decreasing potential car accidents caused by teenagers. 
Parents will be able to limit teen drivers to a speed of 80mph, using a computer chip on the key. Parents also have the option of controlling the stereo volume, which has been known to also distract teen drivers.  In addition, there is a programable chip that can be installed to set off a six second chime, if the driver is not wearing their seat-belt.  Parents can even instruct to set up an annoying chime that will keep going off if they go over 45, 55, or 65mph. Safety first!  
My Key will be rolled out in the summer of 2010 in both cars and trucks.  It will debut in the new 2010 Ford Focus, but also become a part of both Lincoln and Mercury models. 

Ford will get a lot of attention with the My Key.  I’m sure it will quickly spread across other recognized brands.  Smart move for Ford to lead the pack on targeting safety and teens. Teens of course are not thrilled, but overall it’s a great feature that Ford created to promote safety.
What do you think about this new My Key? Is it a thumbs up or thumbs down? 

With all the demand for autos to become more eco-friendly, high performance AND attractive looking, Tesla Motors feels like they have what people are maybe looking for. This high demanded car is the Tesla Roadster. The battery operated car is a 2 seater sports car that you can customize fully. Unfortunately, the price tag is not affordable to most consumers at $109,000. According to their website, there is a 12 month wait to get one built. Their goal is to roll out a 4 door sedan at around $60, 000, which is much higher then the GM’s sedan (Volt)they will be rolling out in 2010. GM is estimating the cost of their battery operated sedan to be around $40,000. I will say there is a very interesting fact about the chairman of Tesla Motors, and that is that he was the co-founder of Paypal. Time will tell if this Silicon Valley start-up can get the auto world headed in the right direction towards a more eco-friendly world.
Leadpile Lead Exchange generates a lot of auto finance leads. Unfortunately, I am not sure we are going to come across advertisers/dealers in our marketplace able to provide this new beauty…..yet. However, we do welcome any company able to generate auto finance leads!

Companies in all industries are experiencing the pressure of having to come up with new ways to get consumers attention. Online lead generation has been a tool for helping companies find consumers needing a new home, a new car, or various types of loans. However, with the economy the way it is now, companies are working on trying to attract online customers to “new” types of products.
Gone are the days of focusing all your marketing efforts on high profit margin items such as home sales, new car sales and other high price ticket items. According to leadmarketwatch,“The time between major purchases is growing larger due to market pressures as well as improved quality and higher prices. Therefore, marketers need to capture the client in between purchases and it is through micro-needs like chrome wheels, new tires, paint jobs, etc.” This means that companies such as GM are focusing on bringing in leads of consumers wanting new tires and accessories, versus getting the new car. This is also in line with Leadpile Lead Exchange and the need for lead types such as car warranty, car refinance, and home security system leads that are becoming more and more in demand. Service providers could be the ones reaping the rewards of the slower economy… don’t buy a new car or house… fix up the one you already have!