With the current chip shortage disrupting manufacturing for new vehicles, the demand for used vehicles is steadily rising. This increase in demand is understandably making used car acquisition incredibly competitive in the current market. If you want to keep up with consumer demand, it's likely that your regular acquisition methods such as trade-ins or auctions aren't going to cut it. It's time to get creative and branch out into buying private party vehicles. Continue reading to learn how.
3 Creative Methods for Buying Private Party Vehicles
1. Scour the Social Media Platforms
For private party sellers, posting their car for sale on social media is one of the most convenient options out there. Because so many people are actively using social media as it is, for many, it becomes a natural outlet for them to advertise their used car when they're looking to sell. Perhaps one of the most popular social media sites for this method is Facebook Marketplace. Because it's designed to help users sell their pre-owned items, this is one of the most obvious choices for used car owners to list their vehicle for sale. Browsing through local listings on the Marketplace is a great place to look for used cars to buy, and it offers an easy way for you to get in contact with the seller to ask questions or set up an inspection. Another way you can use social media to look for used vehicles is by searching relevant hashtags on Twitter or Instagram. People who are using those platforms to advertise their used car for sale are likely to tag the post with their location and a hashtag that will help interested buyers find it.
2. Search Online Classified Ads Sites
Another commonplace for used car owners to post their car for sale is an online classified website, such as Craigslist or Gumtree. Using these kinds of sites helps them use the mass amounts of web traffic to their advantage in hopes that more prospective buyers will see their listing. Expanding your online search in your used car acquisition strategy to include browsing through Craigslist posts can be a valuable way to find viable cars to add to your dealership's inventory.
3. Optimize Your Efforts with a Used Car Acquisition Tool
Searching the online classifieds and social media sites for used car sales can be incredibly effective, but the process can be time-consuming and tedious — especially if you need to do this at scale. This is why leveraging the power of an acquisition tool like VETTX can maximize your efforts and help you turn over sales even faster. Rather than you and your team sorting through countless listings one by one, a platform like VETTX can give you instant access to pre-vetted used vehicles so that you can find more of the kinds of vehicles you're looking for and get the most out of your acquisition strategy. In order for you to keep sales moving in your dealership, you need a streamlined acquisition strategy to keep up with the demand for used car inventory. Contact us today and schedule a demo to see how VETTX can help increase your sales.