I could buy more cars if...

July 5, 2023

I’ll bet a thought like this has recently crossed your mind, “I wish I had more used cars to sell.” Let’s start making that wish come true! Here are some solid strategies to improve your inventory.

I could buy more cars if…

  1. I was consistently equity mining my database and contacting customers with offers to buy or trade for their car with:
    • Calls from my staff or outsourced BDC
    • Direct Mail pieces with offers
    • Email marketing with an offer
    • Text message marketing
  2. I used my service drive as a source for inventory. I could make offers to service customers with:
    • A written offer attached to the repair order
    • An email offer once the RO is closed
    • A text offer once the RO is closed
    • Point of Sale Materials in my service waiting areas. Even better, a kiosk or tablet setup with an instant cash offer web application.
  3. I had a marketing and branding campaign to buy vehicles from consumers that was different than “all the rest”
    • Engage and convert the right demographic (intenders) to sell their car with unique and creative social media campaigns.
    • Inject your campaign’s “we buy cars” messaging wherever you can, into slides, overlays, new and used vehicle pages, etc.
    • Provide a custom landing page where customers can get a quick offer for their car. Example www.abcmotorsbuyscars.com
    • Use traditional media campaigns to reinforce getting a “firm” offer without coming to the dealership for an appraisal. If you give the consumer an option from home they will take it.
      • TV - 30/60 second spots, infomercials overnight/early mornings, OTT, YouTube Pre-Roll
      • Traditional and digital radio
      • Billboards
      • Signs, flags, etc on dealership properties
  4. I had stand-alone Buying Centers in strategic locations.
  5. I set up kiosks with instant cash offer web applications in malls, large events, concerts, classic car shows
  6. I specifically targeted overseas students or those on visas. Most of these students do not take their college cars home once they graduate.
  7. I had dealership employees who were fully motivated. Find ways to reward them for every vehicle purchase: flat fee, contests, etc…
    • QR codes on staff business cards that lead to the dealer instant offer web application.
    • Give employees T-shirts to wear when out of work that have “we buy cars” messaging on the back of the shirt with QR code and web URL
  8. I had used car buyers who were actively bidding and buying on all online auctions as well as physical auctions in my region.
  9. Last but not least, I could buy more cars if I had someone who was in charge and responsible for buying cars from consumers

Follow those nine steps and you’ll surely increase your inventory!

When you are buying used cars or accepting trade-ins, make sure your appraisal process is correct.

Want a useful PDF to guide you through the Appraisal Process? Just reach out!

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