Even as inventory starts to become plentiful at auctions again, unprecedented high pricing for used vehicles is causing some independent dealers take a second look at where they’re buying. While having the flexibility to purchase vehicles from different sources is important, not having to dig into your pocket to pay for them matters just as much. Fortunately, if you have a floor plan from NextGear Capital, you can finance vehicles regardless of where they’re purchased. Here are the top 5 places to source non-auction inventory from:
Facebook Marketplace – Social media sites like Facebook are a convenient way for users to post their vehicles for sale which makes them a good place for dealers to find reasonably priced inventory. Unlike posting vehicles for sale on websites that charge fees to post and promote the vehicle, Facebook Marketplace allows car owners to advertise their vehicles at no cost, preventing them from being marked up to cover additional fees. You can also search for specific types of cars or for vehicles in certain geographic areas to prevent incurring additional transportation costs.
Trade-Ins – Trade-ins are another avenue dealers can turn to when they want to add variety to their lot. This straightforward transaction moves vehicles off your lot while replacing them with new ones. NextGear Capital clients can utilize the Consumer Loan Payoff Program on trade-ins by taking the loan payoff and title management process off their hands and putting more cash into their pockets.
Off-Street – Did you come across a vehicle in the classifieds that someone is trying to unload or happen to hear a friend talk about wanting to get a vehicle that’s going to better fit their current lifestyle? No matter what the situation is, you can rest assure that your floor plan will provide you with the funding and flexibility you need to restock your inventory no matter where you find it.
AutoTrader – When dealers need to track down specific types of inventory, sites like AutoTrader are a good place for dealers to quickly find the vehicles they need. Both dealers and the public use this online marketplace to buy and sell vehicles so there’s always a lot of inventory to shop from. An added bonus of purchasing from AutoTrader is you’ll have access to the Kelley Blue Book value, and most vehicle listings include multiple pictures, so you’ll feel more confident purchasing a vehicle without seeing it in person.
Wholesale – If you’re looking to add multiple units to your lot quickly, purchasing from a wholesale dealership can be a good solution. Wholesale dealerships specialize in carrying larger amounts of inventory, so if you need to replenish or make quick changes to your vehicle selection, you’ll have a better chance of securing the inventory you’re looking for at a fair price.
Finding the vehicles you need at the right price point is crucial in operating a successful dealership. That’s why NextGear Capital offers dealers the flexibility to floor plan vehicles whether they come from an auction or from a neighboring lot. At NextGear Capital, we are committed to ensuring you’re able to purchase the inventory you need so you can meet your customers’ demands at a competitive price.