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New GM in retail automotive looking for advice

gm_lrides

Boss
Aug 22, 2020
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Dave
Hi,

I recently moved from selling commercial vehicles to consumer vehicles. I'm a new GM at a used car dealership in NJ.

I will be heading out to auction next week, but wanted some advice on other avenues for acquiring inventory. Does anyone have advice on how to buy direct from other dealers without subscribing to a service or paying platform fees ?

What percentage of your acquisition is done this way (Direct dealer to dealer ?)

Thanks,

Dave
 
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Tallcool1

Boss
Mar 17, 2014
359
216
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Clint
Welcome to Dealer Refresh and to your new career!

Right now, wholesale values are sky high. You will be hard pressed to find a dealership that will wholesale direct right now. Dave, there are dealers all over the country taking their retail inventory to auction and selling it for MORE than their advertised prices. They just don't want to wholesale direct because of this.

ACV Auctions is a good one for the Northeast. Lots of inventory, low fees, etc.. You already know all of the other sources so no use going into them.

Good luck!
 

ChrisR

Boss
Oct 12, 2015
242
232
First Name
Christian
Welcome to Dealer Refresh and to your new career!

Right now, wholesale values are sky high. You will be hard pressed to find a dealership that will wholesale direct right now. Dave, there are dealers all over the country taking their retail inventory to auction and selling it for MORE than their advertised prices. They just don't want to wholesale direct because of this.

ACV Auctions is a good one for the Northeast. Lots of inventory, low fees, etc.. You already know all of the other sources so no use going into them.

Good luck!
Has ACV strongly come back from this?
 

ChrisR

Boss
Oct 12, 2015
242
232
First Name
Christian
I don't believe that caused even a blip on the radar. They're REALLY strong. Titles are slow at times. I like this company.
Had them make a couple attempts to work with us out here in Idaho, but after maybe 2 visits, haven't heard from them again.
 
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Tallcool1

Boss
Mar 17, 2014
359
216
Awards
1
First Name
Clint
Had them make a couple attempts to work with us out here in Idaho, but after maybe 2 visits, haven't heard from them again.
From what I have experienced, ACV is trying to make their way west. I'm in Nebraska and 18 months ago we were paying really high freight. Now they're getting some listings closer to us. Hopefully they make their way to Idaho!
 
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Viracocha

Boss
Jan 6, 2010
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Cooper
Make sure you ask them specifically if they allow bid shilling, and if not how do they prevent it?
 

Tallcool1

Boss
Mar 17, 2014
359
216
Awards
1
First Name
Clint
Make sure you ask them specifically if they allow bid shilling, and if not how do they prevent it?
I get what you are saying, but (without being rude) who cares if a seller runs their own car? The car is either worth or not worth the money. If he runs it higher than a bidder wants to pay, then quit bidding.

I would be MUCH more concerned with Proxy security than a seller running up their own vehicle.
 

Viracocha

Boss
Jan 6, 2010
98
35
Awards
1
First Name
Cooper
They go together. TradeRev has been caught doing the same, they will work the buyers to the sellers advantage. It just kills the spirit of what the auction is supposed to be. Running a buyer up and then coming back with an if bid isn't honest behavior in my books.