Retail vs. Wholesale: 4 Tips for Dealers to Consider When Evaluating Trade-ins
Wondering whether your dealership should recondition and retail a vehicle or take it to auction? Explore our 4 tips to help you evaluate your dealership's trade-ins to maximize your profitability.
It might be the most common question asked within your dealership’s walls: “Are we keeping this one or wholesaling it?”
With how frequently the question is asked, it’s common for dealerships to have some type of process for deciding which vehicles are worth reconditioning and retailing. But without well-defined criteria for deciding which vehicles to keep and which to auction, your team is much more likely to act according to what they think will sell, making quick, gut-instinct decisions before moving on to the next task.
This speedy process may save your staff time, but it is likely missing at least some important considerations to account for when evaluating trade-ins to truly maximize your dealership’s profitability.
To standardize this process and ensure every critical factor is considered when evaluating trade-ins, we've narrowed down four key areas for dealers to focus in this whitepaper.
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For an additional resource to help you decide which vehicles should stay and which should go with even more scrutiny, check out our eBook: Auction vs. Retail: Adapting to Inventory Challenges in 2021. |