This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
This involves inspecting the extent of structural, mechanical, and cosmetic damage, calculating labor and parts costs, and working closely with repair technicians, insurance companies, and customers to ensure a smooth repair process. What Is the Career Path of an Estimator: The Starting Point.
Margin compression affects every department of your dealership, notably usedcar reconditioning and usedcar appraisals. UsedCar 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?
Why Reconditioning Matters More Than Ever The usedcar market has undergone significant shifts. With new vehicle production shortages from 2020 and 2021, fewer prime retail units are available, forcing more consumers into older, more affordable vehicles.
Dealers and other retailers want to get the highest return on their dollar as possible, which means you’re up against an algorithm and a few people with a vested interest in extracting the most money from you as they can out of the gate. Unfortunately, you might run across mechanical issues during the inspection process.
Whether it’s the appraisal processes, usedcar reconditioning or digital retailing — all of which support dealership sales and service — GMs want to know these functions are dialed in and that they just work.” “The Achieving consistency with trade appraisals has long proved difficult.
It provides appraisers VIN-specific, mechanical, and electrical system appraisal “X-ray” diagnostics and accurate, not estimated, reconditioning costs for the make, model, and year of the vehicle. Increase profits from parts, customer-pay services, and usedcars. Eliminate chargebacks to sales.
If you want to manage inventory holding costs and bolster your earnings per share, consider how your usedcar reconditioning operates. Cars get sale-ready within three to five days of acquisition. Those who use the scoreboard as a monthly progress metric have more consistent three-to-five-day time-to-line.
Additionally, a rise in used EV sales continues to make headlines. Over 7% of new car sales in 2023 were battery EVs (BEVs), which will lead to an increase of used EV inventory in the coming years. Therefore, F&I offerings for these types of vehicles remain critical.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content