At the heart of any good used vehicle marketing plan is a thorough and frequent examination of the market, along with a solid forecast of where the market is heading. I will look at this from a couple of different perspectives that may help to inform your planning process. The
Success in the used car business, as with any business, always comes down to people. Processes and customer needs change rapidly and the only system I am aware of that can readily adapt to these changes are human beings. So, if you want to maintain your success, you must maintain
As we do every year around this time, we are all getting ready for tax season. Aside from the obvious business and personal stresses that surround this activity, tax season can represent a tremendous opportunity for the used car dealer. Here’s why: Faster cash to the consumer Tax preparation, already
So, you are an independent dealer who is really on the ball. You know your customers and their needs. You have solid relationships with lenders that consistently meet the needs of your customers. All you really have to worry about is making sure you have the right car at the
With the current economy and the industry-wide spike in delinquencies, many dealers and lenders have looked to Global Positioning Systems (GPS) and starter-interrupt devices to help them manage their portfolio risk. These devices are far from being a panacea—and far from a collections solution “in a box.” This technology, however,
Franchised and independent auto dealers are taking a page from the buy here, pay here dealerships and holding their own paper. A recent informal survey of franchised and independent dealers in the Mid-Atlantic states revealed that as many as 20% of these dealers are originating and managing their own portfolios.