A New Philosophy of Selling Used Vehicles
There’s an old adage in the used-car business that says, “Customers come to your lot to look for the cars they want; you’re at the lot to sell the cars you want to sell.” That all works out great if those potentially conflicting motives intersect at the perfect vehicle which just happens to be on your lot. Otherwise – we all know the drill – you end up trying to interest them in another vehicle.
This philosophy of “I got a great deal on this car wholesale, so I’ll make a good profit on it” is flawed for two reasons. First, it limits your inventory to what is physically on your lot. Second, it doesn’t take into account local market conditions such as what other dealers have that model, and what they are selling it for.
Travis Wise is senior VP of sales with DealersLink Inc. (www.dealerslink.com), an automotive systems integration and networking technology company based in Broomfield, Colorado.
This article originally appeared in Auto Remarketing.