Car auctions can be a great place to get a great deal on a solid car that will help your car dealership generate respectable profits, but they can also be a hassle. Used car acquisition through private party channels is a viable alternative, but difficult to execute at scale. So how can dealerships keep their used car inventory stocked up without wasting precious time and money playing the auction game?
The Pain Points of Used Car Auctions The biggest challenge connected to relying on auctions to restock your used car inventory is the inability to not only drive the vehicle but to also interact with the previous owner. The lack of face time with the vehicle's owners, it's impossible to get an impression of how well they cared for the car, the type of driving they did, and even if they are reputable people.
Most car auctions aren't set up in a manner that allows you to test drive the vehicle before you start bidding on it. At best, you might be able to start it and listen to how the engine sounds. If you're really lucky, you might be able to move it a few feet, but as far as making sure there aren't any issues that will result in your clients going to different dealerships, purchasing at a car auction is a leap of faith.
When you attend a used car sale, you should have a pretty good idea about the type of vehicles you're looking for and have a price point in mind for that particular vehicle.
The Benefits of Buying Private Party Vehicles
There are a few advantages connected to picking up the cars you need via a private party acquisition. In many cases sellers are also in the market for a new vehicle and can offer up the opportunity to make a sale.
Purchasing a vehicle via private party acquisition provides you with an opportunity to learn about the vehicle's history and to also form an opinion about how well the vehicle was cared for. Having this information helps you price the vehicle and also gauge whether you're marketing a reliable car.
The challenge with acquiring cars through private acquisition is that finding the type of vehicle you want on your used car lot isn't always easy.
Buying Private Party Vehicles
Taking VETTX for a spin is the best way to simplify the process of acquiring used vehicles for your dealership while still enjoying the benefits of purchasing cars from private parties. The software works to find private party sellers who have exactly the type of vehicle you want to add to your inventory.
If you like the vehicle and the price the seller is asking, you can use the program to book an appointment to look at the vehicle. The software works quickly, you'll likely be the first interested party the seller speaks to. The program saves you a great deal of time while also enabling you to improve the quality of the vehicles in your lot.