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Accurate Appraisals: The Key to Predictable Profit in Used Car Sales

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In today’s competitive used car market, dealerships can’t afford to rely on guesswork during vehicle appraisals. Missing a mechanical issue or overlooking a key feature from a window sticker can lead to profit losses. While window stickers show visible features, mechanical issues are often hidden and can be profit killers.

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The First and Most Crucial Step to Profitable Used Cars

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Tracking T2L allows dealerships to pinpoint delays, whether in mechanical reconditioning, detailing or the approvals process, enabling them to make targeted improvements. Reconditioning isn’t just about fixing cars; it’s about refining processes to be as efficient and effective as possible.

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Dealership GMs Need Fewer Worries; Start Here: Recon and Appraisal Integrity

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Margin compression affects every department of your dealership, notably used car reconditioning and used car appraisals. Used Car Reconditioning A reconditioning speed of three to five days, from acquisition to frontline readiness, is the efficiency gold standard. How do you manage margin compression here?

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Navigating Shrinking Margins: Acquisition Lessons from the Stock Market for Dealers

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This stands in sharp contrast to dealers who often face the challenge of uncertainties in used car acquisitions due to a lack of comprehensive data. Modern technology offers a solution, providing tools designed specifically for the dealership industry that mirror those used by stock investors.

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The Top 3 Reasons You’re Missing on Used Vehicles

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Lack of Recon Visibility Up Front During the appraisal process, you have little insight into the mechanical condition of the vehicle you’re appraising or exact reconditioning costs. Your walk around, test drive and the Carfax report can only give you so much.

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From Sale to Service: Building Loyalty and Profitability Post-Sale 

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Since the dealership often handles these repairs under the service contract, it ensures that any needed work stays within the dealerships service drive rather than going to a third-party mechanic. By securing a VSC post-sale, dealers can lock in this relationship, encouraging repeat business for future car purchases.

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Reducing Worries for Dealership GMs

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But I do because my company’s products and services interface with the GM at a crucial point: used car profitability. I know enough GMs, fixed ops directors and used car managers in all sizes of dealerships and groups to understand how important vendor and product trust is to them.