“But then I asked “How much is it per car?” And nobody knew the answer.” Franchise automotive dealers pay hundreds of thousands of dollars per year in auction fees and to our surprise, we found that few actually knew how much these fees are affecting their bottom line. Fewer … Read More
By Kevin Leigh, www.digitaldealer.com View Original As modern dealers, we have become digital marketing professionals. We have beautiful retail websites, focused on the buyer’s experience. Most have a digital marketing department or at the very least a person devoted to making their cars “pop” off the page online. But for some reason, we … Read More
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Dealers have to expand their horizon to find the “right” cars to feed their inventories. This means visiting a greater number of auctions and reviewing a larger number of vehicles to find the cars that fit their local market. Because of the finite number of hours in a day and … Read More
Gas prices seemed to have stabilized over the last few weeks and actually dropped back to prior weeks levels. What is more interesting is how diesel prices are now equalized with gasoline. In the auction market, electric cars have paid the price. “They are cold as heck” said one dealer … Read More
As used prices fell 2.5 percent last month, auction volume was on the way up, perhaps playing a role in the continuing depreciation being seen in the auction lanes. According to the latest Guidelines report from NADA Used Car Guide, auction volumes of used cars up to 8 years old … Read More
There is a growing trend among dealers: “Hold in-house auctions.” This topic is somewhat controversial because it has become main stream to take your wholesale cars to auction and that it. Most dealers (more than 92%) take their cars to off site auctions, pay the fees, pay for shipping and … Read More
Title Attached/Missing/Lien a Detailed Definition Title Attached. New dealers/wholesalers are often confused about what “Title Attached” means. It actually means that the title is NOT present at the time of the sale. This means the selling dealer has the title but it is not on hand at the time of … Read More
Promoting your dealer auction is very important. Just because you have a great auction location and wonderful wholesale managers running it, does not guarantee that anyone will visit your auction viewing day or your online wholesale site. These are some basic steps to get wholesale customers to show. Maintain a … Read More