Automotive inventory sourcing has been increasingly difficult for dealerships in recent years. In 2019, 76.3% of used car dealers said inventory sourcing was more difficult than in 2018. That number has likely increased as a result of the pandemic, which forced dealerships to alter their automotive inventory sourcing approach.
Ultimately, dealership owners are focused on moving the business forward. But when their used car managers are tasked with, among other things, appraising all vehicles, buying inventory, and managing the lot, it can be hard to adopt long-term strategies that ensure the steady growth of your dealership.
Luckily, many of the tasks that used car managers handle on a daily basis can be automated with advanced technologies and people-powered support.
Take CarOffer for example, a sophisticated, user-friendly platform that enables dealerships to buy used inventory with the click of a button.
Let’s take a closer look at the ways in which the CarOffer platform helps bring back valuable time to your dealership and streamlines your approach to automotive inventory sourcing.
Eliminate Manual Bidding
Up until recently, auto dealer auctions were the go-to place for dealerships to get what they need. Dealers viewed used vehicles in-person, made split-second decisions on bidding, and got caught up in the competitive nature of bidding against other dealers. Needless to say, this process was not only emotionally draining, but highly inefficient. It required dealers to spend a considerable amount of time bidding on individual vehicles.
With CarOffer’s Buying Matrix™, you're empowered to take control of your inventory:
- Automatically fulfill orders based on your customizable buying preferences, which saves you time and money in the long run.
- Establish your buying strategies with one of our dedicated support specialists and let us know the model and year of the cars you’re looking for.
- The platform gets right to work on matching your buy orders to fresh trades and other dealers who have what you need.
Have your eyes set on a new vehicle? Want to adjust your pricing inputs? The Buying Matrix allows you to continually customize your preferences to match your current needs. Say goodbye to manual bidding and embrace an easier, faster, better way to source used inventory.
Set Customizable Buying Preferences
When you’re bidding on vehicles one by one, you may end up spending more than you wanted. After you've spent hours previewing and appraising used vehicles, you might pull the trigger just because you hate the idea of wasted time. Being forced to bid on the “best” vehicles available to you, even if they don’t align with your inventory needs, is certainly a no-no when it comes to buying used vehicles.
With CarOffer, you’ll be able to:
- Gain a better understanding of what your core inventory is
- Identify vehicles that are most likely to sell on your lot
- Input customizable buying preferences that ensure you never overpay for your inventory.
Keeping up with your inventory demands is made simple, as CarOffer’s platform automatically works to get you the inventory you need, when you need it.
Your buying preferences are always adjustable, meaning the CarOffer platform will evolve and grow as your dealership needs change over time. Just tell us what you’re looking for and when you need it, and CarOffer will get right to work.
Gather Insights Into Your Inventory
The key to long-term success lies in data. Look to valuable analytics and gain insights into inventory performance. In years past, dealer owners and used car managers were primarily concerned with staying afloat in the short-term, and worked to source inventory that they felt was in line with their current needs. But strategies based on gut feelings aren’t sustainable. A data-driven approach to sourcing inventory is your best bet to ensuring your growth.
Not only does CarOffer streamline the buying and selling process for used vehicles, but it also provides you with a plethora of insights into your current operations. By analyzing your dealership’s sales history, core inventory, and sourcing strategies, you’ll be equipped with all the information you need to make informed, savvy sourcing decisions.
Adopting a data-driven mindset to automotive inventory sourcing gives you peace of mind — you know buying strategies are backed by insightful data. You can still follow your hunches, but with CarOffer, you’ll be able to justify your hunches with tangible insights into whether you’re making smart moves for your dealership. This will make it easier to bring more cars onto your lot month in and month out.
Give CarOffer a Test Drive
If you’re ready to leave the traditional ways of sourcing used inventory in the past, CarOffer is here to help. Our dedicated support staff along with our advanced technologies mean we get you the exact cars you need — at the right price and right time. Together, we can help you regain valuable time and resources for your dealership. Imagine long-term success fueled by increased revenue and efficiency.
Contact us today to request a demo or learn more about our automotive inventory sourcing solutions.