The Problems With Traditional Used Car Acquisition Sources
December 15, 2020
In an industry spanning decades, traditional sources of used car inventory are now becoming less popular among dealerships. There are pros and cons to the usual types of car acquisition methods, and the best way to increase your used car inventory might be to use a tool like VETTX, which can help you find reliable vehicles for sale by private parties.
Traditional Used Car Acquisition Sources
There are a variety of different ways you can add to your used car inventory, but there might be a way you can find more new inventory! Take a loOKat the existing ways you can acquire cars, and how a tool like VETTX can help you find more cars in the saturated private-party seller market.
Used Car Auctions
Always a viable option, but auctions can be tricky. You never know what types of cars are going to be at the auction and how many there will be. And, you don't know how steep the competition is. You can spend all day at an auction and not come away with much in the way of inventory. Of course, you could also strike gold and double your inventory in one day. Auctions are a risky investment of your time, but they could pay off if you are patient.
This is a waiting game and a game of suspense. Will someone come trade his car in today? If so, what's the resale value on the car? This is much too passive of an approach if you are running a successful used car business. To increase your inventory, you'll need a more aggressive approach.
How Can VETTX Help Expand Your Used Car Inventory?
Private-party sources get overlooked far more often than they should. It can be overwhelming with so many private party sales available, but if you use the right tool like VETTX, the process of finding cars from private parties will no longer feel insurmountable.
You can't make a sale of a car that you don't have in inventory. If your traditional acquisition methods have dried up, let VETTX help drive up your inventory numbers. Here is how VETTX can help:
An easy-to-use platform, there is a dedicated team standing by to work on your behalf to increase your car inventory
The platform searches the used car market so you don't have to, and narrows down good fits.
Analytics will be used to track success, which means you can tailor your approach based on what is working and what is not
Software will help you set tailored parameters for your search so you can search for exactly what you are looking for — you can weed out vehicles like convertibles if you live in Calgary, or you can only search for convertibles if your business is in Florida
VETTX might be a new tool for you, and change can be scary. While your business might be successful right now, a tool like VETTX can help take you the extra mile to becoming the top used car business in your region. Reach out and contact us today to learn more about how to use private-party sellers to increase your inventory and garner more sales!