In the used car business, having a defined strategy for vehicle disposition, that is, how you move the vehicle off your lot, reduces confusion, increases efficiency, and makes your pricing strategies more effective. An effective disposition strategy also keeps avenues outside of standard retail in the forefront of your mind.
At the time of purchase (acquisition), knowing the market days supply and desirability of a vehicle will inform you as to whether the unit will be a retail sale or wholesale. Preparing yourself assists in developing your pricing strategy – will it be a vehicle you hold for gross initially and then discount slowly or will you only let it go days before discounting it more rapidly?
In this video you get a preview of our conversation about the development of strategies for each and every pre-owned inventory unit acquired at the time of the purchase. Which disposition channels will yield the optimum return (fastest turn with the highest profit potential)? Are you exercising all of your disposition channels effectively? Is the vehicle a potentially desirable vehicle to one of your wholesalers?
The conversation originally took place in January 2017 with David Long, Director of the Del Grande Dealer Group Buy Center, Aaron Gomez, Acquisition Manager, and Tom Gregg, Founder of Vehicle Acquisition Network. For access to the full recording, follow this link.
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