I’m sure that every motor dealer in the UK has faced this all-too-common situation…
The traded car that turns out to have a £3,000 bill to get it up to a retail standard, the trader who ‘knew nothing about the problems’, and the law that, unfortunately, doesn’t offer the same protection to dealers as it does to the public. We are the experts after all.
Then there is the traditional source of used car stock – auctions that allow retail customers to bid, consequently driving up the prices, and still take their commission on top.
With this source of stock, we have seen values fluctuating incredibly over the past 12 months, squeezing margins to breaking point.
Covid-19 has created an unprecedented volatile market, many dealers reporting boom and bust in consecutive months, and many, sadly, not surviving the swings.
Having paid over the odds in summer then crashing values in winter, after unforeseen preparation costs have raised the SIV far beyond CAP, what chance is there of making a profit from that over-age car?
Add to that the additional risk of 14-day returns plus distance selling regulations and it is a treacherous time for the motor trade at large.
Now, more than ever, it’s time for a new way to assist dealers. Enter, Trade Car Network.
Devised by motor dealers for motor dealers, it has created a website to solve many of the issues the trade has to overcome on a daily basis.
The internet has been amazing for the consumer. The ability to source their new car nationally with exactly the desired requirements has made their lives very easy.
However, it has been a challenge for dealers.
Without 4,500 cars in the group stockholding, how do you source that ‘factory-built used car’ the customer can get delivered from the growing trend of web-based dealers?
Trade Car Network is a customer-facing portal allowing you the dealer to automatically build in your margin and show the car as if it’s in your own ‘group stock’.
You can even advertise that car on your own social media pages with one click, giving the appearance of a much larger choice of cars, appealing to more customers and keeping your brand presence high in your own marketplace.
The selling dealers are loving this functionality too, as they are far more likely to sell their trade car when the network of like-minded dealers offer their stock to retail customers in a market they wouldn’t usually have access to.
The customer is happy too, as most would still like to buy their car locally for peace of mind in case of any warranty issues. It’s a win-win-win for all concerned.
The car loading screens are very quick and easy to navigate, and there is the function to upload the original technicians’ preparation sheet.
Whether it’s a PDI, RAC or AA-approved check sheet or simple sales check, all cars get this treatment as a minimum, so wouldn’t it be great if the purchasing dealer could see this preparation report?
Knowing what preparation bill you’ll have before buying the car seems like it should be standard practice, but it strangely isn’t – until now.
It can be uploaded from your phone too – simply take a picture.
With Trade Car Network you can buy stock with peace of mind, sell in the trade quickly and easily, advertise other network dealers’ stock as if it’s your own, and show customers sourced vehicles immediately.
You can email links to the ‘group stock’ through social media for customers who can’t be with you at this time, and once dealerships reopen their doors you can also show them sourced vehicles immediately with them present.
All this for only £75 plus VAT per month for unlimited access and transactions. Now that is a game-changer.
Take a look at Trade Car Network’s explainer video here: