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

Story Book for Higher Bid Sale Profit

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Keep the Used Car “Story Book” with the Car when Sending it to Your Bid Sale If you are like many dealers today you are building a history and merchandising booklet for every used car. We call them the "Used Car Storybook." A storybook is sort of the cars portfolio and is a real ice breaker when sitting down [...]

Accessories Can INCREASE Profit on Wholesale Cars

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Some accessories can actually increase the value of your wholesale cars. Items such as waxing the car  or adding paint seal can make the car pop online and stand tall on your bid sale lot. Another area that almost always increases the curb appeal of your car is wheels and tires. Besides the odometer, the tires [...]

Dealer Car Auction Profit Hacks

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Having a profitable and well maintained used car inventory can make a huge difference when it comes to the speed, also known as Velocity, in which you turn your used car inventory. Before I begin, you will need a inventory scoreboard. It goes without saying that a professional inventory tool, such as Dealer Track's Inventory+ or vAuto's [...]

Junk is NOT junk, 5 ways to get profit from cheap cars

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The profit mentor. Many years ago when I was the sales manager at Al Maroone Ford in Buffalo I got a surprise visit from the owners son, Mike Maroone, who would later go on to help found Autonation. He looked around my office for a moment then asked; "Hey, Kevin would you like a 5% raise?" [...]

Don’t Lower Profits By Adding Accessories

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Adding accessories to an already distressed or aged car can actually backfire on the dealer. In my opinion the return is only equal to the value of the added item and in most cases lowers your SRP’s (Vehicle Search Results Pages) because it raises the price above other similar cars in your market. Dealers like to add [...]

Keep Wholesale Merchandising Simple

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Process your wholesale car using the same tools your inventory team are already using. No need to reinvent the wheel here, just have your IM’s (inventory managers) use the same tool they use to process retail trades. This way they are not overwhelmed with too much change. Companies such as vAuto, Red Bumper andVin-solutions already have a special [...]