If you are in the used car business, you know it can be challenging with so much business done remotely right now. Used car acquisition is challenging enough when you can see the cars, but adding the element of acquiring used car inventory remotely increases the difficulty level. Due to pandemic restrictions, auctions and trade-ins are becoming less frequent.
Digital used car sales are becoming more popular than ever, making it a critical time for used car dealers who must adapt to a changing industry. Take a look at the private party channels available to you now like Facebook marketplace, OfferUp, and CarGurus and platforms such as VETTX can also help dealers connect with sellers remotely.
Used Car Acquisition Remotely — Think like a Buyer
Since you can't physically see the car, it's important to think like a potential buyer would think. What are deal breakers for a buyer that would make him walk away from a purchase? You should be able to see the car on video, and you can look for any eyesores that would keep away a potential buyer like major dents, scratches, or rust.
Get to know the car's history. Has it been in any major accidents? Has it had regular maintenance performed? If you can get your hands on the car's records, that would then be something you could use as a selling point to a new buyer.
If the car looks good and has accurate maintenance records it shouldn't be hard to resell to a buyer, even if the buyer is also working remotely.
Get an Appraisal
The appraisal can be a key component of both acquiring your inventory and then selling it to a buyer. An appraiser can do this without you present, and then you will know exactly what the car is worth before deciding whether to put it into your inventory in hopes of selling it.
You wouldn't buy a home without an appraisal, and you shouldn't add cars to your inventory without an appraisal. That number is the key price point as you can then think about how much on top of its value you think you could sell it for, giving you an accurate representation into how much profit you could stand to make on a particular vehicle.
Inventory is Critical for Success
Inventory has been down across the country for auto dealers, but it is starting to improve. With online buying becoming more and more popular, there is a lot of competition between car dealers to get their hands on the right cars. You can stay ahead of the competition by spotting a good deal on inventory remotely and not hesitating to pounce on it.
For more Information
Acquiring used car inventory remotely is the wave of the future. The global pandemic might have caused the change, but it is here to stay. Reach out and contact us today to learn all the ways VETTX can help you increase sales and profits by adding the right used cars to your inventory, even if you are unable to physically see the cars.