How to Track Your Pre-Owned Inventory

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By Shawn Clos

Here is a sim­ple, cheap and highly effec­tive way to track your recon­di­tion­ing time, and also your pre-owned vehi­cle “times shown”.

It all starts when the vehi­cle is taken into inventory.

• The sales con­sul­tant is respon­si­ble for build­ing the pocket file folder and fill­ing out the ser­vice inspec­tion form, pulling the Car­Fax report, print­ing off an NADA report, mak­ing sure that the vehi­cle has a min­i­mum of a ¼ tank of gas and 2-sets of keys.

• On the front of each folder there is an attached sheet that was cre­ated in Excel with the fol­low­ing infor­ma­tion on it: Stock# Year Make Model Date in Date to Ser­vice Date to Detail Date Com­pleted Date Sales Con­sul­tant Demo Show Comments

• Once the folder is com­pleted it is then handed to the sales man­ager who arranges the vehi­cle to go into ser­vice. The sales man­ager then gives the com­pleted folder to a ser­vice writer and the folder fol­lows the vehi­cle thru the recon­di­tion­ing process.

• When the vehi­cle returns back and is front row ready it is then deter­mined whether the 72 hour time frame was pass or fail. Now that the vehi­cle is out on the lot and ready to be shown. When it is time to show the vehi­cle the sales con­sul­tant then comes to the desk pulls the folder and checks out the vehicle.

• Once sales con­sul­tant returns back they can check the folder back in and write in any com­ments that may need to be logged con­cern­ing the vehi­cles con­di­tion. Also, by hav­ing the fold­ers close to the sales manager’s desk he/she can make sure that no client is get­ting out the door with­out hav­ing the oppor­tu­nity to talk with them.

• You also can review the fold­ers very quickly and see what vehi­cles have had action and what vehi­cles have not. For the vehi­cles that have not had any action I would sug­gest you can go out and walk the vehi­cle to make sure that every­thing is front row ready.

At this point you can make the deter­mi­na­tion whether you want to keep the vehi­cle or whole­sale it. As you can see this can be a highly effec­tive tool when used prop­erly. If you have any ques­tions or would like for me to email you a copy of an exam­ple of one that has been used just let me know.

Shawn Clos is pres­i­dent at Deal­er­slice Inc. and can be reached at Shawn.clos@dealerslice.com.

 

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