The reconditioning process has a large impact on a dealer’s bottom line, but they vary widely in how much time they spend getting cars ready to resell. The most efficient dealers can often recondition a car in 24 hours or less. Other dealers can take seven days or more to recondition a similar car. It’s …
5 Ways Dealers Can Make their Reconditioning Process Faster – and More Profitable Read More »
Depreciation for vehicles two to six years old is expected to rise to 15% this year, according to a joint report from Black Book and Fitch Ratings. This is an increase from last year’s 13.2% rate of depreciation.What’s causing the increase in depreciation?New car sales are expected to rise slightly this year, so more cars are likely …
Depreciation for Used Vehicles is Expected to Rise in 2016 Read More »
Used car managers face an increasingly competitive market that makes it more and more difficult to buy vehicles that will eventually yield a decent profit. That’s why it’s important than ever to make sure that reconditioning in an investment that will pay dividends rather than a liability that will hurt the dealership’s bottom line. Dealers …
Dealers Can Transform Their Reconditioning Process from a Liability to an Asset Read More »
How to Avoid Audits by Paying Your Detailers Correctly As an dealer, you probably have some sort of relationship with detailers. Perhaps your dealership has its own detailing department, or you might contract your detailing jobs to a third party. Either way, you need to be aware that the U.S. Department of Labor (DOL) has …
How to Avoid Audits by Paying Your Detailers Correctly Read More »
An increasing number of dealers are finding it hard to make a profit in their used vehicle departments. It’s not because of a failure to sell enough vehicles, however. They’ve utilized new technology and tools to help them buy the right cars and price them to attract online shoppers. Dealers are selling more inventory than …
If you’re a buy here pay here (BHPH) dealer looking for reconditioning options for your inventory, you have some choices to make. If you’re already affiliated with a new car dealership, you probably have a service department that can help the BHPH part of the business by providing reconditioning, service, and repairs. This can be convenient, but …
Tips for BHPH Dealers Looking for Reconditioning Services Read More »
What’s the true cost of your under-performing reconditioning department? As most good operators have figured out, a lot. The experts will tell you that a vehicle depreciates between 1.5% and 1.75% of its net value each month. That percentage might not scare you by itself but think about this…if you have 100 vehicles at an average cost …
What’s the True Cost of Your Under-performing Reconditioning Department? Read More »
With all the manufacturers competing for the lowest cost of ownership award, it’s never more important to focus on maximizing the opportunities you have in the service and parts department. But if you’re like most dealerships, you’re missing out on this opportunity. While service revenue at dealerships is on the decline, overall service market revenue …
Lowest Cost of Ownership Is Bad For Your Service and Parts Departments Read More »
Written by: Douglas Grimaldi, COO The average car on the road is approximately 10 years old. With ever-increasing improvements in modern technology and vehicle designs, the useful life of any given vehicle is significant. Due to these improvements, consumers often times want to purchase a new vehicle while their old vehicle still has a significant …
The Automotive Reconditioning Software Needs of Today Read More »
The concern or lack thereof concern for “Cause and effect” is ultimately what can make or break a dealer. Wikipedia says the definition of cause and effect is: The relationship between an action and the result of that action in regards to how it affects you or others. Many businesses have unique challenges but the lack of …
