5
STANDARDIZING YOUR PROCESS
Ensure your sales and service teams are both in-the-know regarding in-demand makes and models. When
assessing trades, your team should analyze factors like estimated trade-in value, maintenance history and how
similar vehicles have sold in the last 30-90 days.
This requires setting internal standards for your dealership's buyback expectations. Not only will this create a
uniform process for stocking your lot, but it will also motivate your team to be part of the process.
For instance:
• Incentivize sales teams to bring in highly sought-after trades or buyback opportunities.
• Ensure your buyback messaging is consistent across every channel, including any signage.
• Track your acquisition process, including setting clearly defined goals and objectives.
To further standardize this process and ensure every critical factor is considered when evaluating trade-ins,
dealers need to focus on four main areas:
