Used Car Auction Software, Purchasing, Floor Planning, Transportation and Trades

Used Car Purchasing Software: Auctions, Trades, Floor Planning and Transportation

In order to sell and make money you need to purchase first. Used car lots get vehicles in 2 ways: auctions and trade ins. The process differs for these channels. Our DMS (dealer management system) can help you with both cases.

Auctions: Going to auctions is the primary way to get inventory for used car lots. Even though auctions are more costly they have a major advantage: you get to choose. You do not have that with trades. Most of the time a staff has to be actually present at the auction. This can mean travel expenses if the auction is off-site. You will need to pay a fee at the auction for buying a car to whoever is holding the auction. You can keep track of that in our DMS and report on it.

Floor Planning: Most auctions have at least one floor planning company at the premises. This can be the same entity as the one holding the auction. Of course, it is easier to use your own finance company if you have an ongoing account with an other lender like AFC. Our dealer software can keep track of the payments made for the inventory loan. You can define your terms for the lender and you can check which cars need to be paid and when.

Transportation: After you purchase a car at an auction, you need to have it transported to your premises. Sometimes, you may want to send it to an other location for repairs. You may choose to drive it your self. In any case, you will be spending some money on transportation. If you have a lot of cars, you may want to check which cars are in transit and when they are going to come. With our DMS, you can easily enter all transportation info and report on them. When the truck arrives, you can update multiple cars as arrived at the same time.

Trades: Compared to auctions, you spend much less on trades but you cannot be very selective about the cars you get. Also, you may need to deal with the lien holders. They are mostly older models with high mileage. If you can do a chain of two trades, you are doing good. This means for example, you got a car at auction, traded it and traded the trade. But at some point, you get a trade that you cannot sell. You would then sending those to auctions or to the junk yard. Used car lots need software to track the purchase process and we do just that.

Contact us for more info and demonstration.

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