This week on The VIN-dow with Robert Hollenshead, Sean Liptay asks Bob about the reality of the constant of the wholesale market. What does Robert mean by this? The wholesale market is real.
You can't change something. In a retail market, there is the possibility of a higher price by adding warranty, better location, etc. Dealers can't hide vehicle characteristics. The full story will be revealed. In order to get market value for your home, it needs to be in tip top shape.
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The probability of you making money in the wholesale market is not the same as it is in the retail market.
The same commodity... cars. Different probability of luck in the marketplace. How to interpret full retail data so you can understand the true value of every VIN.
Understand the pedigree of the car when you acquire it so you always have an exit strategy. Dealers can leverage tools and common sense around how deep you're going to go into a unit.
Has it been exposed to the broader market? You're not picking something up from the shop by buying a retail ready piece.
What's going to happen when you don't sell it? You don't have an exit strategy or curb appeal.
If you know where a car has been on the retail market, why do you believe you can get more for it? Reveal where the vehicle has been and for how long. See current days on market of any VIN in North America with Accu-Trade.
Watch live auctions using the VIN-dow extension so you never buy a unit without knowing it's current in market retail status. Leverage retail market knowledge to play smart in your market. If we go into another shut down, people will go back to needing cars. Desirability of some vehicles will not go up until scarcity sets in and the factories shut down again... if that happens.
If you were able to buy cars with a wholesale exit strategy available on every one... your used car lot would never be stale. IF you get caught in a market shift and you have to If your retail inventory is jammed with cars that haven't sold in 60 plus days, and a customer drives one in to trade. You have to buy the car with a wholesale strategy in mind. You won't be able to sell it if you haven't been able to sell the other ones you bought.
How to create desirability around a unit to make it appealing enough for competitive interest? In the lanes or between the sales people at your dealership.
If you're buying cars online, can you ensure that it hasn't been in the market for the last 365 days? Check your retail history to understand how many customers have already seen it on the market.
Get the VIN-Dow Chrome Extension for any online auction, Adesa, Manheim, EBlock, TradeRev, CarGurus, BackLots, vAuto. Free to all Accu-Trade subscribers.
The VIN-dow Podcast is brought to you by Accu-Trade. Do you want to improve your vehicle acquisitions with transactional transparency for your customers? What about the trade-in process?
Developed by the largest independent wholesale dealer in history, Robert Hollenshead. It’s the same tool they use every day to do their job. Every lesson learned from over $20 Billion in transactions and 900 cumulative years in wholesale is built into the platform. All made easy to understand and available for anyone to use.
Robert Hollenshead is a serial entrepreneur, the World's Largest Automotive wholesaler (R. Hollenshead Auto Sales) and visionary behind disruptive automotive industry solutions such as:
Accu-Trade: www.accu-trade.com
Galves Market Data: https://www.galves.com/
MADE Logistics: https://made-logistics.com/
Headstart VMS, LLC: https://www.rhollensheadautosales.com/headstartvms/
MADE Financial: https://www.rhollensheadautosales.com/made-financial/
AutoMoto Social: https://www.automotosocial.com/
AutoMoto HR: https://www.automotohr.com/
WreckCheck.com: https://www.wreckcheck.com/
PuroClenz: https://puroclenz.com
Robert has been and continues to be a game-changing thought leader in the way vehicles are bought and sold today.