Wholesale Vehicle Acquisition: No FEE Inventory

The wholesale business for your vehicles can be a reliable revenue generator for your dealership.
In our last post, we offered some helpful tips on helping you with wholesale vehicle disposition and getting more eyes on your inventory. Today, we discuss how you can acquire vehicles for no fee using existing resources and a bit of creativity.
When it comes to vehicle acquisition, it all begins in the service line. Your service advisors can be trained to “recognize” popular vehicles for wholesale, and evaluate and appraise vehicles right in the service line. Management can also offer spiffs or bonuses to service personnel who successfully hand-off a customer opportunity that results in a sale to the Sales Department.
The majority of your vehicle acquisition (between 50-60 percent) should come from appraisals and trade-ins, saving your dealership significant costs and fees. To offer a fair trade-in value for both the dealer and consumer, you’ll need the right combination of the latest 360 degree data insight and processes in place, including standard drive and evaluation, and vehicle walk-around procedures.
Another cost-saving way to acquire the vehicles that you need is to canvas your CRM system. By spending an hour or two a week, you can uncover a few hidden trade-in gems from your open leads and existing customer information within the CRM.
To get creative, you can even advertise a free appraisal service in local newspapers, television or radio, and on your website to help drive traffic into your dealership. Or, you can even take this further by hosting off-site “Free Appraisal” events at local malls, credit unions and banks, as well as Classic Car events, among other venues.
As you can see from last week and this week’s posts, by using proven acquisition, disposition, reporting and management strategies and techniques, and a bit of creativity, dealers can transform their wholesale businesses to deliver consistent, long-term bottom-line results.
Please let us know if you think our vehicle disposition and acquisition tips can help your wholesale business performance.

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