Will this Study Change the Future of the Used Car Market Forever?
A dealership’s goal should be for at least half of the cars to be sold within 30 days of arriving on the lot. However, the average investment in a used vehicle dealer’s lot has gone up, and the average profit has gone down. Could this mean serious trouble for the used car market? If investment in a lot goes up, shouldn’t profit follow suit?...
Consumer Beliefs - The Best Time to Buy a Car
Consumers want to be sure that they are getting the most out of their hard-earned money – and a car is one of the biggest buying decisions to be made. However, there are many differing opinions on when the best time to buy a car might be. As a dealership, you may wish to consider their timing opinions....
Improving Car Sales Methods
For decades, customers and employees would talk face to face, and then employees would close the deal by offering the customer a price at the end of the conversation. Now, with the power of the Internet, face to face meetings are barely necessary....
A Simple Explanation of Market Days’ Supply
The latest automotive industry buzzword, Market Days’ Supply (MDS), is a calculation derived by dividing your currently available supply of inventory by your average daily retail sales rate over the past 45 days....
Laser Appraiser vs. Autoniq
Autoniq accesses pricing guides. However, Laser Appraiser offers much more robust pricing and market data that will make your dealership more informed and more competitive. ...
Laser Appraiser: The best alternative to Vin Viper
As many automotive dealers seeking bargain vehicle valuations know, the 2017 collapse of Vin Viper as a mobile device app solution was a major operational setback...
Auto Dealer Profit Guide
Where do dealerships profit? The answer comes in the form of three answers – used vehicles, finance and insurance, and the service department. ...
Do New Vehicles Make Dealerships Money?
The nature of car sales can be a tricky thing – we all know the stereotype of the “used car salesman” who is trying to rip you off. However, those of us who work in car dealerships know that this is not the norm. The average person would probably assume that car dealerships make most of their money from new car sales, but things are much more complicated than that. ...
Better Ways to Appraise a Used Car
How are you acquiring your inventory? Either through auction (online or brink-and-mortar) or through trade-in...
Finding the Right Car Appraisal Tool
In today’s economy, consumers spend much of their time looking for cars online, and for good reason – the Internet offers seemingly limitless car choices with a magnitude of vehicle options that clients love at the most affordable prices. However, not every vehicle on the Internet is a winner. ...
Avoiding Auction Obstacles – A How-To on Creating an Efficient Buying Experience
This article will go over some of the common problems in wholesale buying, and some of the solutions that will save you precious time and maximize your profits....
Five Things that Every Used Car Dealer Should Know
/desktopEvery business owner knows how important details can be – sometimes minuscule operational changes go far towards improving efficiency. However, when it comes to used vehicle Return on Investment (ROI), it can be difficult to stay ahead. A used vehicle involves multiple people and processes to get it on and off the lot efficiently, rapidly, and profitably; even the most experienced dealers can struggle with keeping operations smooth and simple....