Purchased Inventory

What is the best way to source cheap cars when the trades aren't plentiful? I am trying to gather some ideas for a "We Buy" program. Any suggestions would be greatly appreciated!

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Permalink Reply by Candace Lawley on January 17, 2014 at 1:22pm

Forgive me for copying and pasting a piece of my answer from another topic, but it fits here.

We do buy-back emails asking our customers to let us appraise their old car to determine if we want it on the lot. I create a template within our CRM (Dealer Socket) so all I have to do is change the vehicle, then I pull lists from Listbuilder. For example I just hit 220 '09 Civic owners who purchased 7/13 or earlier (in addition to 5 other lists, totaling about 1400 people) We usually pick up a handful of quality used cars, sell some new ones, and it costs nothing, and takes less than an hour to do.

I will be taking that a step further in the upcoming weeks using Polk data through Facebook, to target people who are not our customers but have vehicles we're looking for.

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Permalink Reply by Justin R McClain on January 17, 2014 at 2:02pm

Candace,

While sifting around for new ideas, we tend to overlook what tools we already have at our fingertips. Thank you for the great info!

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Permalink Reply by Candace Lawley on January 17, 2014 at 2:10pm

I am a firm believer in using what you've got to its fullest potential. It's not always about spending more money, but rather spending it more effectively. Good luck!