Wholesale Buyer

Alex G

Looking to hire a buyer, buy vehicles for our dealership, also have him/her do wholesale (auction to auction), any suggestions on how to pay that position?

Mark Rask

We have an acquisition person that purchases cars for us

Mark Curcio

A direct hire, base salary with compensation for individual units. 

Sam Salem

First and foremost it depends on the situation the buyer is walking into with regards to the dealers current inventory position. If there's some cleaning up to do, the pay structure is one similar to a consultant (initially), otherwise you can set the guidelines for buying and have them work within those parameters for retail units. Then for wholesale you set a min gross or ROI where you minimize overhead and expenses as much as possible.  . Regardless, you have to incentivise against complacent buys is the main thing. You can do that by making the buyer financially responsible for a portion of the loss, through non payment until retail units sell (enforcing a strict turnover), or a slush fund to be paid once every 45 days or to be used against losses.  I currently have a buyer set up accordingly. 60/40 (Buyer's Way) split on wholesale units not counting trade-in's that go through auction & $500-$1000/unit depending on retail price. 

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