The way of doing business and buying cars is forever changed due to the pandemic. In normal circumstances, dealers would take some time to explore different solutions that digitized, centralized or modernized all or part of their services and operations. But these aren’t normal times, and the adoption of new technologies and processes is quicker than ever as dealers fight to stay afloat in the early days of reopening. But adapting to and adoption of new processes and technologies should not mean additional complications for dealers; simplicity and ease of use is critical to sustainability.
There are a lot of moving parts for used dealers to keep track of: inventory levels, pricing strategies, demand, and new competition for used as new vehicles suffer from manufacturing shutdowns and value. More must be done faster, better, and frankly, more independently than before as teams work remotely and at a social distance.
As used inventory demand continues to rise and excess inventory enters the scene due to Hertz filing Chapter 11, dealers need to manage their inventory like traders in the stock market -buying, selling and trading quickly, on demand and online. These days, dealers don’t have the luxury of attending physical auctions, chasing down vehicles, or following up on every appraisal and offer. And they don’t have to.
“One of the easiest processes is to buy through CarOffer,” says Bruce Lynch, vice president of Inventory Operations at Car-Mart in Tulsa, OK. “I like that the car gets delivered and I don’t have to deal with all of the issues that are required to get a car to lot, like title chasing and transportation. And it’s all on one bill of sale. No hassle. I like that.”
CarOffer developed its platform to help dealers buy, sell and trade 24/7/365 with accuracy and automation so they have the inventory they need to meet demand, and don’t suffer from being underwater with aged inventory. Simplicity coupled with advanced technology means dealers can set buying and selling inventory preferences, which can be modified at any time, and let the Matrix do the rest. Additional security comes with OfferGuard, where dealers can buy vehicles through the CarOffer Matrix and insure their purchases for 45 days. CarOffer will guarantee the purchase price for vehicles under $45k up to 45 days. If the vehicle is not retailed within 45 days, CarOffer will buy it back with the click of a button.
When used dealers’ inventory is automatically stocked with the vehicles they want, when they want them, at the price they choose, it is one less thing to micromanage in an ever-changing environment which is something everyone can appreciate.