Guest Blog Post from:
Doug Hadden, ADESA
It’s hard to believe, but I still hear used car managers, GMs and owners tell me they refuse to buy vehicles from an online auction! If it was 1990, I could go with it. The reality is, it’s 2014 and those who still think online acquisitions are something those ‘geek types” do, will be left to sift through the leftovers. I’m not saying there will be an end to the brick and mortar auctions, there will always be a need for those. What I’m saying is, if you want to find the best possible selection of vehicles, the ones that have high retail demand, you better figure out how to make online acquisitions part of your regular buying routine.
There are many dealers that have successfully conquered buying and selling wholesale in the digital realm. It’s not as hard as you may think to set up a “war room” as some of my dealer friend’s have affectionately named the office where they have multiple monitors to bid and buy remotely at live auctions. They also bid and buy on static EBay style auctions day and night!
Is this something you can flip and switch and make happen overnight? No! But all you have to do is sit down and make a plan.
Plan to set aside the time understand the differences between online and in lane. Make a plan to get training and support from your on line auction. Make a plan to set up policy and procedures within your dealership’s wholesale team regarding on line purchases. Plan on making a couple of mistakes on your first purchases (it’s ok, it a learning curve). But most of all, plan on being able to find the cars you need to meet your used vehicle departments retail plan!
Learn more at Doug Hadden’s NADA Workshop:
1/22/2015 2:00pm – 3:15pm 3005W
1/24/2015 8:30am – 9:45am 3006-3008W