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Private party vehicle acquisition offers significant advantages over auctions by reducing reconditioning costs, accelerating Time to Line (T2L), and enhancing profitability. Dealers can personally inspect vehicles from private sellers, leading to lower recon costs and eliminating auction fees, making it a more efficient and cost-effective strategy for inventory sourcing.

Dealers can succeed in private party vehicle acquisition by focusing on building relationships and playing the long game. By dedicating a buyer, leveraging automation, and expanding their reach, dealerships can acquire more cars at better prices, while avoiding high auction fees and strengthening their customer base.

Finding a skilled used car buyer is essential for dealerships to stay competitive and reduce acquisition costs, particularly in the private party market. Dealerships can recruit buyers from within their network, using employee referrals or job boards, and should focus on candidates with drive, curiosity, and ethics, as these traits often lead to success in the role.

Private-party vehicle acquisition is becoming a key trend in retail automotive, with three primary strategies: inbound, outbound, and third-party sources. Outbound efforts, such as targeting active sellers on platforms like Facebook Marketplace, offer the highest profit potential by building direct relationships with sellers and reducing acquisition costs by up to 84%, making it the most lucrative approach for dealerships.

Mastering market absorption is essential for dealerships looking to dominate their local market by acquiring a significant share of private party vehicles. By focusing on acquiring locally listed vehicles, dealerships not only reduce competition but also boost customer loyalty, increase market share, and strengthen their brand, much like Amazon's market absorption strategy across industries.

Corey shares strategies for dealerships to enhance used vehicle acquisition through private-party purchases, boosting inventory, brand awareness and profitability.

Dealerships are increasingly turning to private party vehicle acquisition to reduce costs, diversify inventory, and build long-term customer relationships as private sales now account for 36.9% of the used car market. This shift offers significant savings and growth opportunities, positioning dealerships to thrive in a changing market.

Growing your company at the NADA Show goes beyond showcasing your product. It's about creating experiences, building lasting relationships, and setting the right goals. Let's make this NADA Show a milestone for your automotive software company!

The Winning Mindset for Buying Cars Off the Street

How a car dealership can destroy its competition with one simple strategy.

VETTX Attends NADA for the third year straight 🔥

The building blocks to a high-performing acquisition strategy.

How dealerships can buy cars off Craigslist consistently and profitably

How car dealers can implement AI tools to better help them acquire used inventory off the street.

4 main categories of revenue are generated when a dealership buys a private party vehicle.

Attendees of NIADA Accelerate Convention and Expo 2023, the largest expo in the independent auto industry, have an exclusive opportunity to see how VETTX car dealership software can increase their revenue by millions of dollars per year.

Effective vehicle management can help you stay on top of your stock levels, make informed purchasing decisions, and ultimately sell more cars.

Used car price trends show that the cost of used cars is dropping. These trends have created new opportunities for car dealers to take advantage of to expand their inventory.

When it comes to buying cars for your dealership inventory, you don’t have to settle for the auctions of old.

Accelerating your car dealership's growth is suitable for coping with the microchip shortage. How do you expand your inventory with used cars and positively impact your dealership's growth?

If you’re wondering which used vehicles to stock right now, check out this list of the top-selling used cars in the USA to find out which models your customers are searching for.

An increasing number of dealers abandon the time-honored tradition of going to an auction to find new inventory, the competition for privately sold vehicles intensifies.

Shifts in the way consumers think about transportation and used car acquisition continue to evolve. What does this mean to the automobile industry's future, and how can VETTX help?

Platforms such as VETTX car dealer software make the process of tapping into the private party market much easier and less time consuming for you and your team.

Digital used car sales are becoming more popular than ever, making it a critical time for used car dealers who must adapt to a changing industry.

There are pros and cons to the usual types of car acquisition methods, and the best way to increase your used car inventory might be to use a tool like VETTX, which can help you find reliable vehicles for sale by private parties.

The Pain Points of Used Car Auctions The biggest challenge connected to relying on auctions to restock your used car inventory is the inability to not only drive the vehicle but to also interact with the previous owner. The lack of face time with the vehicle's owners, it's impossible to get an impression of how well they cared for the car, the type of driving they did, and even if they are reputable people.