Buying private party vehicles has become a pivotal part of boosting used-car profits for many dealerships, though building a strong strategy can take a lot of trial and error. The Vehicle Acquisition Council is here to help you fast track your success with our top tips on how to acquire vehicles from private sellers. Get ahead of local competitors today when you take advantage of our expert recommendations!
New car inventory continues to cause great stress for most dealers thanks to ongoing delays in the supply chain. This added market competition means dealers need to be more aggressive in acquiring private party vehicles, creating an ongoing system for acquisitions. Searching for used vehicles needs to be a routine part of your business strategy; failure to do so will result in an empty used lot and loss of sales.
Being aggressive doesn’t mean harassing customers: it means keeping your dealership top of mind for when they’re ready to sell. Dealers can achieve this by:
- Building relationships: Every interaction can turn into future opportunities. People remember positive experiences and are more likely to do repeat business or give referrals after receiving excellent service.
- Reach out to sellers on a regular basis: When communicating with a seller, keep tabs on their sale even if they tell you no initially. If their vehicle is still available days or weeks after you first reached out, they may be more motivated to sell if you connect with them again.
- Reach out to existing customers too: It never hurts to see how past customers are doing. Are they happy with their lease? Are they looking to upgrade or trade in? Connect with this audience to find out!
Get Your Team on the Same Page
Pushing used vehicle acquisition as a priority across the dealership is another key to success. Sales, service, and everyone in between can contribute to helping customers understand the value of selling their car. For example, if a customer brings in an older model for service, the technician can chat with them about how they’re liking their vehicle and whether or not they’ve considered upgrading.
Incentivize this process for added motivation to sell, giving anyone who assists in a sale a cut. When the entire dealership works together, you can achieve amazing results!
Use Advanced Acquisition Technology
Perhaps one of the best ways to acquire private party vehicles is to use technology that saves you time and effort. Vehicle Acquisition Network (VAN) sources vehicles from all social media and selling platforms, eliminating the need to search through each website individually. Our technology was built for dealers, by dealers, bringing you tools that fit within your existing strategy to maximize your success.
VAN can help you:
- Make more money: Earn $750 more on average per car
- Turn cars faster: Turn inventory 21 days faster than auction purchases
- Strengthen your strategy: Get the value of auctions at one third the price