Used Car Business Plan

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To root out the source(s) of the trouble, I will closely examine the factors that make up the cost-to-market metric for a dealer’s inventory.

This number shows the relationship between the total costs for a vehicle (acquisition, fees / transportation, reconditioning, packs, etc.) and the prevailing retail prices for the same or similar vehicles in the market.

When I see this, I’ll drill down to figure out why the cost-to-market is higher than it should be.

I often find a problem in one or more of the following three areas: In my day as a dealer, we didn’t worry too much about over-doing the reconditioning on a car.

For a $13,500 used vehicle, a cost-to-market metric of 90 percent translates to a spread of $1,500.

This is the profit margin the sales team has at its disposal to close deals.

We knew, more or less, that if we invested

This is the profit margin the sales team has at its disposal to close deals.

We knew, more or less, that if we invested $1 in reconditioning, it would return $1.25 for our effort and time.

Today, however, I’m not convinced this ratio holds true as a general rule.

Buying and selling used cars can be a very profitable venture when you follow a few sound

Every state has its own laws regarding the selling and buying of vehicles, who can sell and buy and how many vehicles can be sold privately.

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This is the profit margin the sales team has at its disposal to close deals.We knew, more or less, that if we invested $1 in reconditioning, it would return $1.25 for our effort and time.Today, however, I’m not convinced this ratio holds true as a general rule.Buying and selling used cars can be a very profitable venture when you follow a few sound Every state has its own laws regarding the selling and buying of vehicles, who can sell and buy and how many vehicles can be sold privately.If you plan on selling more than a certain number of vehicles, you should apply for a dealer’s license before you get to the limit.In the state of Maryland, private parties without a dealer’s license may only sell 2 vehicles within a 12 month period.Other steps include ongoing efforts to manage or reduce the scope of reconditioning work approved for every vehicle, the use of non-OEM, warrantied parts when appropriate, and centralized operations.Some dealers add as much as $1,000 in cost to used vehicles through packs.They should recognize that these costs have a direct impact on a car’s profit potential — and they should take steps to mitigate these add-on costs wherever possible.Such mitigating steps might include reducing the retail rates charged to the vehicle for reconditioning parts and labor in service.

in reconditioning, it would return

This is the profit margin the sales team has at its disposal to close deals.

We knew, more or less, that if we invested $1 in reconditioning, it would return $1.25 for our effort and time.

Today, however, I’m not convinced this ratio holds true as a general rule.

Buying and selling used cars can be a very profitable venture when you follow a few sound

Every state has its own laws regarding the selling and buying of vehicles, who can sell and buy and how many vehicles can be sold privately.

||

This is the profit margin the sales team has at its disposal to close deals.We knew, more or less, that if we invested $1 in reconditioning, it would return $1.25 for our effort and time.Today, however, I’m not convinced this ratio holds true as a general rule.Buying and selling used cars can be a very profitable venture when you follow a few sound Every state has its own laws regarding the selling and buying of vehicles, who can sell and buy and how many vehicles can be sold privately.If you plan on selling more than a certain number of vehicles, you should apply for a dealer’s license before you get to the limit.In the state of Maryland, private parties without a dealer’s license may only sell 2 vehicles within a 12 month period.Other steps include ongoing efforts to manage or reduce the scope of reconditioning work approved for every vehicle, the use of non-OEM, warrantied parts when appropriate, and centralized operations.Some dealers add as much as $1,000 in cost to used vehicles through packs.They should recognize that these costs have a direct impact on a car’s profit potential — and they should take steps to mitigate these add-on costs wherever possible.Such mitigating steps might include reducing the retail rates charged to the vehicle for reconditioning parts and labor in service.

.25 for our effort and time.

Today, however, I’m not convinced this ratio holds true as a general rule.

Buying and selling used cars can be a very profitable venture when you follow a few sound

Every state has its own laws regarding the selling and buying of vehicles, who can sell and buy and how many vehicles can be sold privately.

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