Mike Kreider, CAR, is the remarketing manager at Credit Acceptance Corp. and one of the directors of the International Automotive Remarketers Alliance (IARA).
Kreider has been with Credit Acceptance Corp. for almost 11 years in multiple positions. “I actually came from working in restaurants with minimal vehicle knowledge/experience,” Kreider said. “When I came to Credit Acceptance, it was in a leadership training program that rotated me through almost all our departments, learning a little about everything. After my first month or two stint in remarketing, I was intrigued with the industry due to its dueling responsibilities. For a repo Consigner, they’re trying to sell a car to a dealer/buyer, while also trying to protect our consumer account and the dealer who originated it. For a dealer, they have a need to find cars at a discount while also being able to stand behind the product they’re retailing. And, in the middle of that, you have an auction that has a consigner demanding more money for our cars and a buyer who wants the cars cheaper.”
Kreider came back in 2006 as a supervisor handling internal responsibilities and tried to absorb as much experience as he could. After three years, he left again to work in Credit Acceptance’s project management office, reorganizing its vehicle title processes and returning in 2010 to run the Remarketing Department.
Kreider has always admired the “unspoken” heroes in the industry. “Those who only speak when they have something intelligent to add (letting their performance speak for them), don’t find the need to tout their accomplishments, and are more interested in hearing what others have to say and have done as opposed to telling you about what they’ve done,” he said. He also noted he is a fan of football player, coach, and executive Vince Lombardi’s quote about scoring a touchdown: “Act like you’ve been there before.”
While Credit Acceptance/VRS has been an IARA member since it began in 2002, Kreider was only loosely involved in the IARA prior to becoming a board member in 2010.
“I always knew there was a lot of information to be shared, but figured most of the ‘good stuff’ the consigners would hold onto to keep an edge over their competitors,” he said. “I was grandfathered in to a board member spot when I came back in 2010 as my predecessor held a spot on the board. I’ve stuck with the IARA because I was dead wrong in my initial assumption. There are always going to be cars and there will always be buyers. The other IARA members are not competitors; we’re just performing the same task.”
Kreider continued that as he improves his “product” (both the car he offers and the processes used to offer it) it doesn’t take away from fellow IARA board members, because dealers can’t make a living getting vehicles from only once source.
“If the dealer can go from one consigner to another and receive similar results, they can (a) spend less time ‘learning’ each seller, (b) have less losses, buying something they didn’t really want, and (c) be more profitable in their own business,” he explained. “This is an advantage to all consigners as it strengthens the market. The amount of knowledge IARA members are willing to share and the intelligence and experience of those sharing it has allowed me to significantly better myself. As things change, the IARA keeps you abreast of the best practices in the industry so that we can all succeed.”
About the IARA
It is the mission of the International Automotive Remarketers Alliance (IARA) to assist, educate, and share knowledge with one another and our industry partners, so that each member may be empowered to achieve the fullest efficiency and most continued improvement attainable in the commerce of selling vehicles through the marketplace. To find out more information, visit www.iaraonline.org.
By Lauren Fletcher