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Jared Hamilton
From: Jared Hamilton
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Michael Esposito

Michael Esposito President

Exclusive Blog Posts

Click-to-Call [Infographic]

Click-to-Call [Infographic]

  Most dealers understand the importance of making it easy for customers and prospects to find contact information. Websites often have prominent &…

Quick Tips for Improving Dealership Culture

Quick Tips for Improving Dealership Culture

Car dealers have a terrible reputation. It's such a negative experience for so many that people are electing to make a major purchase like a vehicle fr…

The Biggest Mistake Dealers Make When It Comes to Customer Retention

The Biggest Mistake Dealers Make When It Comes to Customer Retention

Jim Roche is the Divisional VP of Marketing & Managed Services at Xtime. We asked him to tell us the biggest mistake he sees dealers making today when …

Is 2018 the Year of Customer Convenience?

Is 2018 the Year of Customer Convenience?

It seems that every year has a theme attached to it in terms of where dealerships’ focus will be. Which themes or buzzwords will dominate 2018? We…

Upcoming Webinar: Show with Your Showroom, Sell with Your Website

Upcoming Webinar: Show with Your Showroom, Sell with Your Website

Today's customers walk into your showroom better-informed than ever before. Because they've done their research ahead of time, 89% walk into t…

Are customers the best source for used vehicles?

 

Prices for used cars have hit record highs recently and in the next few months, are expected to climb even higher (NADA: Trade-In Values for Used Cars Expected to Rise in June). Auctions are one source where auto dealers can find used vehicles to fill the lots, but an even better source is your own customer base. Why compete with other dealers by placing bids, when you can mine your dealership management system (DMS) for customers who may be ready to trade-in for a new, fuel-efficient vehicle?

One recommendation is to search your database for customers who purchased new cars three to five years ago—in particular, larger vehicles such as SUVs. Call them and let them know their used vehicle is in demand and offer them a free appraisal for a trade-in. If you can get it at the right price, you can make profit on both the trade-in and re-selling the customer’s old vehicle.

Dealers and salespeople, have you tried any promotions to get more used inventory on the lot? What has worked (or not) for you?

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