Score Inventory Your Customers Want
No one knows your customer base better than you do. That’s why anyone who tells you what inventory to purchase without first getting to know you and your customers isn’t going to give you advice worth taking.
Knowing your market is the first step in obtaining inventory that will sell – and more importantly, sell quickly. Are you in a small town with families looking for a teenager’s first vehicle? Or do you operate near a college or university and have an opportunity to sell to students? What about an area with an older population or young families looking for a family cruiser?
Whatever your market and the people that make it up, keeping a keen eye at auction for the features that appeal to these customers will help keep your inventory churning at the most profitable of rates.
Parents and Families. New parents and young families are going to be all about safety. And when it comes to peace of mind, all vehicles weren’t created equally. Today’s used cars can present some unique safety features that can be especially appealing to young families. Things like innovative placement of airbags, technology that tracks vehicle health and notifications for vehicles operating after a curfew are just a few little-known features available on the market today that could get families on your lot.
College Students. If your dealership calls a quaint little college town home, you might just be sitting on a gold mine if you can move the right kind of inventory. College students are perhaps the most budget-conscious of any car buyer, but they are still looking for a blend of style, economy and utility. Keeping an eye for spacious, stylish, fuel-efficient vehicles will help you cater to this audience. They’ll want the best fuel economy for the long hauls home and plenty of space to store all the laundry they’re bringing back to mom and dad’s house!
Elderly Caretakers. Families caring for a senior citizens have needs different from any other car buyer. Operating a dealership in an area with an aging population provides you the opportunity to build an inventory that provides a service to this audience. Vehicles low to the ground that are easy to get in and out of are the easy choice but don’t discount minivans and SUVs that are easy to modify with lifts and other elderly-friendly equipment. Roomy vehicles that can be made into what a caretaker needs can be just as desirable as a low-to-the-ground car used for getting to appointments.First-Time Buyers. Young professionals and first-time buyers are looking for their first reflection of their personalities in a car, but it’s here that you can help them save money at the same time. Young buyers could pay more in insurance with a flashy, sporty car, but you can help them get into a stylish model that doesn’t raise red flags with the insurance company. These buyers will want their cars to last too, so having inspection records and vehicle history reports can help you seal the deal.