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News and articles discussing the business of wholesaling used cars and used trucks at bid sales and other dealer auctions

Title Attached, A Bad Idea for Wholesale Profit

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Title Attached/Missing/Lien a  Detailed Definition Title Attached. New dealers/wholesalers are often confused about what “Title Attached” means.  It actually means that the title is NOT present at the time of the sale. This means the selling dealer has the title but it is not on hand at the time of the auction, usually at another dealership [...]

Velocity Approach to Wholesaling Cars.

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Apply the Dale Pollak, Velocity Retail Approach to Wholesale Cars I have been a fan of the Dale Pollak (@vAuto) velocity approach to selling used cars since my days as Director at West Herr where we applied his approach vigorously to our retail used car operation. His book basically suggests that we get our trades processed [...]

On-Board Diagnostic Codes For Online Auctions

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Dash Light is on: How Do I Explain This to my Auction Bidders? So the car you are trying to sell at your dealer auction has the engine warning light blinking. It can mean trouble for the person (bid sale attendant) trying to merchandise this car online to their wholesalers. I recommend full disclosure, because it [...]

5 Ways Attract Millennials to Your Dealer Auction

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When Ben Lima went looking for used cars for his single point used car lot in Southern New York, he did what any good Millennial would do - He went online. As a 26-year-old, Lima has purchased wholesale cars hundreds of times but not in the traditional way. As the youngest of a three generational used [...]

Merchandise Your Dealer Auction to Wholesalers.

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Promoting your dealer auction is very important. Just because you have a great auction location and wonderful wholesale managers running it, does not guarantee that anyone will visit your auction viewing day or  your online wholesale site. These are some basic steps to get wholesale customers to show. Maintain a Wholesaler List Have the accounting office [...]

Texas vehicles damaged from floods, may end up at Auction

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During the rainstorms in late May, many Texans braved the roads and drove their vehicles in flooded streets, but some may now be regretting that decision and have been left with water-damaged automobiles. Many of those water-damaged vehicles have been condemned to salvage yards, but some experts say many can end up back in the market. [...]