How being a “car poser” in my teenage years has helped me quickly identify remarketing issues that could have resulted in delays or arbitration

In the early 1990s, when I was 16 and just starting to drive, my father had purchased a 1989 Chrysler Lebaron convertible for me. Although it had been previously repaired after an accident, it still served as a great car for a teenager, despite its slow 4-cylinder engine. However, I was disappointed that it didn't have the faster V6 engine. In an attempt to appear more upscale and speedier, I made the decision to put V6 stickers on the car, although in hindsight, I'm not sure what I was hoping to achieve or if anyone even noticed. Thankfully, this was a one-time occurrence during my time as a car enthusiast.

Interestingly, as I delved deeper into the world of car enthusiasts, I discovered that adults also engage in similar practices, sometimes going to more elaborate lengths to make their cars resemble higher-end models. Little did I know that this knowledge would later prove useful in my career in remarketing.

One afternoon, I received a call from an auction in California informing me about a peculiar situation. A Mercedes E550 was found to have the wrong engine, leading the auction to suspect that a cheaper engine had been installed during a repair, resulting in an arbitration. They sought my guidance on how to proceed. Upon examining the car, memories of my teenage self-came rushing back. Could a poser possibly have done something like this to a high-end lease car? After conducting some quick research on the invoice, it became evident that the lessee had indeed attempted to fool others. They had purchased a Mercedes E420 but wanted others to believe they were driving an E550, hence the badge changes. Once we identified the real issue, it was a simple fix.

Throughout my career in remarketing, I've encountered numerous instances where posers have attempted to deceive others in a similar manner. The most recent case, involving a Corvette Z06 with the wrong engine, proved particularly enjoyable for someone passionate about cars like myself. Both another auction and their representative had been stumped by the situation. Upon inspecting the vehicle, it was immediately clear to me that it wasn't a legitimate Z06, but rather someone had swapped some parts around. This could have been avoided if the auction and our auction representative had either been car enthusiasts themselves or had asked more questions when the VIN didn't match the car. I am not pointing fingers, as these things happen, but as I always say, having a car enthusiast on your remarketing or auto finance team brings significant value. Their knowledge often proves invaluable in resolving various remarketing and auto finance issues that arise regularly in this industry. While I acknowledge my own bias, it remains true in my experience.

Little did I know all those years ago, when I stuck those V6 stickers on my car's fenders, where it would lead me. It turned out to be a lesson that continues to benefit me both as a car enthusiast and in my career in the auto finance industry.

About the author:

Jason Herman is a 23-year veteran in the remarketing and automotive finance world and an avid car enthusiast. Having managed bank and fleet lease end operations, 1st?and 3rd?party remarketing, residual value setting & risk mitigation, and the sale of well over 1 million off lease & repossessed vehicles in his career, he enjoys providing guidance and expertise to both those new to and experienced in the automotive finance industry, as well as helping end consumers purchase or sell vehicles. Should he able to help, Jason can be reached at?[email protected].?

Please check out my automotive finance & car buying blog: https://www.carguy4u.com/car-buying-and-auto-finance-blog