Ok, so your inventory is easy to find, you have multiple pictures and you’ve a short story about the car at the beginning of the vehicle description. Let’s take a look a pricing.
Most of us will take the path of least resistance. That is to simply mark-up the car a fixed amount over what we have in it. It is easy to do. But what happens when your used car manager got a great buy on a car.
It takes a little effort but you can watch your gross go up if you take some time to review the market. Many of today programs will keep up to date pricing info on file. Programs such as Inventory On-Line, V-Auto and KarPower will keep updated NADA, Black Book and KBB prices on each unit. The rub here is that you have to make sure that your model, trim level and options have been properly input.
You can also review online sites like Cars.com and AutoTrader to see what other similar models are listed for. I also like to periodically check Kelley Blue Books values as well.
By monitoring the car’s current market values you can accomplish two things. First avoid over pricing units that you’re too high in by adding a flat amount. So mistakes can be retailed faster. Second, you can hold gross on those units you’re in right.
Like I said it takes a little time and effort. But at a time when gross is so important it’s worth it.
Let me know what you think.
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1 comment:
Hey,
This is Rajesh from india.
Nice post :)
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