Determine what your aging policy is going to be, then stick with it!
Aging policy has to be “pure”. In other words, if your aging policy is 60 days, then a vehicle must be off the books in 60 days, as opposed to, "Well, its 60 days so let’s determine what we will do with it".
The best approach to aging is to review your inventory for pricing in 15-day increments. By the 45th day (on a 60-day aging policy), you will need to determine what is the exit plan for this vehicle.
Check your reports for VDPs, price to market, competitive set.
How many times has it been showed (key track will tell you if monitored)
Are the descriptions good? Do they need to be revamped.
Do you conduct daily inventory walks with salespeople first thing in the morning? If so, what are they telling you as to their impression as to why it hasn’t sold?
Do we need to change anything about the vehicle (de-tint for example)? Detail again?