{"id":670,"date":"2018-08-29T13:01:19","date_gmt":"2018-08-29T17:01:19","guid":{"rendered":"https:\/\/insights.trader.ca\/?p=670"},"modified":"2022-06-28T05:19:04","modified_gmt":"2022-06-28T09:19:04","slug":"better-used-inventory-management-can-boost-your-turn-rate-2","status":"publish","type":"post","link":"https:\/\/go.trader.ca\/fr\/better-used-inventory-management-can-boost-your-turn-rate-2\/","title":{"rendered":"Better Used Inventory Management Can Boost Your Turn Rate"},"content":{"rendered":"

Look across your pre-owned vehicle lot. Guaranteed there\u2019s at least one vehicle that\u2019s been there too long. Which means there is a chance you are going to take a bath on it\u2026 That\u2019s the way it goes when you\u2019re buying dozens of cars, trucks, and SUVs for the pre-owned market.<\/p>\n

Used car managers have a tough job to do. It\u2019s not easy to select the right pre-owned vehicles for your market and your store, let alone ensure you\u2019re going to make money on each one.<\/p>\n

Since the dawn of the automotive era, gut instinct has been the way to make purchasing decisions. You can make big money\u2014but there\u2019s always the risk of a nightmare car that rots on the lot.<\/p>\n

How to Increase Turn and Earn<\/h2>\n

\u2018Turn and earn\u2019 is the way to make money in used cars. It\u2019s all about moving units\u2014and quickly. It encompasses two aspects, both equally important: buying cars and getting them noticed. The former is known as provisioning; the latter, merchandising.<\/p>\n

How does a dealer improve their \u2018turn and earn\u2019? It\u2019s simply about buying cars that will sell fast, and for a good profit. It\u2019s finding a diamond-in-the-rough here and a popular lease return buy-out there. It\u2019s also about knowing how to make the most of desirable cars that face significant competition\u2014often the bread-and-butter units that, because of their competitive sets, probably won\u2019t bring big-dollar gross profits, but are still necessary as retail units to serve a market.<\/p>\n

And once a car has been bought, it needs to get listed quickly. But it\u2019s not good enough to just get it listed fast. It has to be accurate and unique, compelling the reader to take notice.<\/p>\n

Make no mistake. \u2018Turn and earn\u2019 takes time to perfect\u2014and maybe even a bit more.<\/p>\n

Take the Guesswork Out of Inventory Management<\/h2>\n

You can base your decision on your past experiences, but without data and tracking there is bound to be a margin of human error. Lot rot costs dealers thousands in depreciation alone.<\/p>\n

Plus, according to 2017 NADA Data, used vehicle gross profits have dropped under 12%, and net profit per car is essentially at the break-even point. Can you imagine being in business only to break even at the end of the sale?<\/p>\n

There\u2019s more money to be made in used cars than new, and the NADA stats show it. So why would you be content to with a used-to-new sales ratio of 0.76:1?<\/p>\n

If you can find a way to turn your inventory over more frequently, you\u2019ll earn more per unit and sell more cars annually.<\/p>\n

The good news? Inventory management doesn\u2019t have to be a guessing game anymore.<\/p>\n

Buy Smarter<\/h3>\n

Today\u2019s smart dealers use provisioning tools like vAuto\u2019s Provision<\/a> to identify the right vehicles to buy using live market data. They account for buyer demand and availability and compare activity on your lot to national and regional demand, ensuring you have the best success rate possible in turning your inventory quickly. (And that\u2019s something your gut won\u2019t tell you with any degree of accuracy.)<\/p>\n

Ever wondered what you should pay for at auction or on trade, or at what price you should list a car?<\/p>\n

Provisioning tools can take away the guesswork and tell you what\u2019s a good buy\u2014and what competitive and profitable pricing looks like.<\/p>\n

Better Listings<\/h3>\n

Buying the right inventory is a good start, but merchandising is just as important. You can have the best-stocked car lot in your neighbourhood, full of cars with great profit margins. But none of that does any good if there\u2019s no one taking notice. Every vehicle in your current inventory needs to be merchandised\u2014that is, put in front of potential buyers\u2019 eyes.<\/p>\n

What happens if your inventory doesn\u2019t list well online? The short answer: it takes forever to sell.<\/p>\n

That\u2019s why your vehicle description pages must be accurate, descriptive, and captivating\u2014and why you may be interested in another vAuto feature coming later in 2018.<\/p>\n

vAuto\u2019s AutoWriter module will create unique and compelling product descriptions for your vehicles\u2014not just template jargon.<\/p>\n

Integrated with Provision used car inventory management tools, AutoWriter will make your listings jump off the page.<\/p>\n

The Takeaway?<\/h2>\n

You can\u2019t afford to make used car inventory decisions on gut instinct alone. But provisioning and merchandising tools like vAuto\u2019s Provision suite will turn guessing games into an educated decision every time.<\/p>\n

The end result? You\u2019ll turn your inventory more often, and your used car department will make more per deal.<\/p>\n

Try out the Turn Calculator<\/a> to find out the how much money you\u2019re leaving on the table.<\/p>\n

Subscribe to Carology Insights<\/a> and get the latest articles and information sent straight to your inbox.<\/p>\n","protected":false},"excerpt":{"rendered":"

Look across your pre-owned vehicle lot. Guaranteed there\u2019s at least one vehicle that\u2019s been there too long. Which means there is a chance you are going to take a bath on it\u2026 That\u2019s the way it goes when you\u2019re buying dozens of cars, trucks, and SUVs for the pre-owned market. Used car managers have a<\/p>\n","protected":false},"author":19,"featured_media":664,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[414],"tags":[741],"class_list":["post-670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-etudes-de-cas","tag-vehicules-doccasion"],"acf":[],"yoast_head":"\nBetter Used Inventory Management Can Boost Your Turn Rate | Soci\u00e9t\u00e9 TRADER<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/go.trader.ca\/fr\/better-used-inventory-management-can-boost-your-turn-rate-2\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Better Used Inventory Management Can Boost Your Turn Rate | Soci\u00e9t\u00e9 TRADER\" \/>\n<meta property=\"og:description\" content=\"Look across your pre-owned vehicle lot. 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