It’s 2019 – a new year with hopes of moving more metal, selling more cars and making more profit. Hope is a great start to the year, but the actions you take to achieve your goals will make or break your 2019.
To build upon the hope that comes with a new year and new goals, now is the perfect time to explore new avenues for untapped profit at your dealership.
Do Your Homework. Before heading off to auction, it’s helpful to take a look back at the year that just concluded to see what vehicles moved the most often and which ones moved most quickly. You may have a sense for this already, but doing this prep work in advance can confirm your gut for what vehicles to go in on at auction or it might even turn up a new focus you should have next time you’re on the lane.
Try A New Spot. Stepping out of your comfort zone for an auction further away from home or even on the Internet might be the ticket to scoring cars sure to move quickly and at a premium. If you’ve done your homework on what sells well in your market, you might even be able to find auctions or wholesalers that specialize in the exact inventory you’re looking for.
Master The Upsell.Even if you’re already prioritizing VSC coverage for your customers, there may be an opportunity to get them into even better levels of coverage. By working on your skills to get customers in higher levels of coverage, you stand to make more profit at the time of the sale and more on potential incentive programs available as part of your VSC business.
Take A Stab At Renewals. GWC Warranty Elite Dealers get access to an exclusive Elite Lead Generator report that provides a list of customers with expired contracts. This list – or similar ones you encounter each day – are perfect call lists of customers who are likely in the market for a new vehicle or perhaps a new VSC.