“It doesn’t take talent to play hard.”
Some of the most successful dealerships have an all out assault on trying to buy cars from the public and their customer base.
Buying cars at the auction can help you fill some holes, but the reality is you need to turn those units pretty darn fast. More often than not, you’re paying more for them than you are for those at the front door.
Mark O’Neil, the former CEO of CarMax, told me a few years ago, the number one thing that turned the CarMax operation around was when they started a big push on buying cars from the public.
Are you focused on stepping up when a customer has something to trade? Are you really putting “all the money” on it?
Have you upped the intensity with the concept of buying more used cars from the public?
Have you upped the intensity of buying more used cars from your customer base?
Are you really making the effort? Do you have signs in the customer lounge telling the customers you want to buy their cars?
Do you have a board posted in the lounge advising your customers of the cars you’re looking for?
Have you put a process in place for the sales people on how to handle customers that want an appraisal on their cars? I mean a real process with a real appraisal they can take with them good for 7 days?
1. Step up on the trades.
2. Make sure you have processes in place to handle those customers trying to sell to you.
3. Make sure you are mining your customer base for cars you can sell.
4. Post signs in the customer lounge that tell your customers you want their cars.
None of this is rocket science, but with a little more focus, and a whole lot more effort, you will find some of your most profitable used cars located right under your nose.
Start playing a little harder. And a little smarter. That’s all I’m gonna say. Tommy Gibbs