WHEELING THEM IN
Tax refunds and used car buying go hand in hand during rush in February
Christmas comes in February and lasts for months at the used car dealerships crowding Saw Mill Run Boulevard, which is a sort of Silicon Valley for Pittsburghers with bad credit.
That’s when the first of the advance income tax refund money gets loaded onto debit cards issued by H&R Block and other tax preparers. That money turns into down payments for refrigerators and washers, sofas, a bedroom set or new ride.
Since tax refunds are the biggest slug of money that consumers with blemished credit may see all year, salesmen like Brent Mangold stand ready when people want to deal.
“It’s either the PAT bus or you could drive the Altima home,” Mr. Mangold will tell them. “I’m very forward with people.”
Mr. Mangold, 42, is one of three salesmen working at Leopardi Auto Sales and also the business manager. The company, founded by Pat and Janet Leopardi, started with a lot on Second Avenue in Hazelwood before moving to Saw Mill Run in 1982.
Mr. Mangold has been in the car business since graduating from Canevin High School, where he played soccer and football. His business card reads: “2 Pay Stubs, Utility Bill, 5 References, Down Payment, You’re Driving!”
“February is just mayhem,” said the Imperial native. Around that time of year, it’s a challenge just to keep cars on the lot.
Up to 90 percent of shoppers who come to Leopardi have credit problems, which technically means they have FICO scores under 600. That’s FICO as in Fair Isaac Corp., the San Jose, Calif.based data analytics firm that has become shorthand for consumer creditworthiness, with rankings between 300 and 850 and the higher numbers