Dealership employee purchase program on pre owned vehicles

Jamie Pilson
We are looking at revising our dealership employee purchase program and was hoping to get some feedback on how people are administering this benefit. Thanks for the feedback in advance.
Clint Jones
Market price for the first 30 days after the unit is completely reconditioned, $1,000 over for the next 15, and then $500 over until the point that the unit becomes a wholesale candidate. At the point that the unit is on the block, it becomes wholesale value.
Jamie Pilson
What I am looking for is how different dealers are pricing pre owned vehicles to their employees. Just to give you an example, we currently price Retail units at $700 over cost in the first thirty days of their life then $200 after that. Wholesale units are $200 over cost. We will also purchase vehicles from other dealers and auctions and those are sold at $200 over cost as well. In addition to that all finance products are offered at $10 over cost and all financing is done at buy rates.
Jamie Pilson
Thanks for the feedback!! Much appreciated.
Patrick Halleen
New cars at cost, preowned $500 over acv, personal use only
Steve Tuschen
We discount 650 off of our best price(we are a one price store). Used vehicles is 15% off of best price capped at 650 off of the vehicle. We also have something on the trade. We go with the value of the vehicle, plus recon, plus 650 the difference goes back to the employee. so if we put a value at 5000, say we spend 500 in recon, add 650 total 6150 if vehicle sells for 7000 the employee would get a check for 850. Owner verifies in the event of a trade to ensure valid numbers put on deal. F&I products are 10% over cost and rates are done at buy rate. Parents and siblings get 400 off new or 10% discount max 400 off used of our best price.

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