Items Tagged with 'trade-in'

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Dealership Minds Summit 2017

[Video] Dealer-to-Dealer Panel: After the Trade-In: Immediate Actions for Getting It Back Into the Market

A salesperson takes a used unit in on trade. Now what? If you don’t have a plan for what happens next — starting that same day — you’re already losing. Experts say having a detailed plan — with accountability — on how quickly the unit is cleaned up and serviced, photographed, listed, etc., will do wonders for inventory turns. During this dealer-to-dealer panel, 4 seasoned dealers will share their internal systems to keep attention on traded equipment and get it back out into the market ASAP.
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Ask the Expert: Finding the 1st and 2nd Trade

When it comes to the future trade-ins, I’m not so much concerned about trying to find a home for the $100,000 combine. What I’m more concerned about is that first and second trade that are $350,000 or $280,000 machines. So when I look out there, I try to see how many guys might be interested in those units. Unfortunately, right now when we go to talk to somebody about a high dollar, late, low hour used model, that same person is probably someone who could buy a new one, too. So we have to be careful who we talk to. We have to get to know their business before saying, “Hey, why don’t you buy a new one?” Because there’s a likely chance they should be buying a used one.
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Casey_Seymour.png

Ask the Expert: Finding the 1st and 2nd Trade

When it comes to the future trade-ins, I’m not so much concerned about trying to find a home for the $100,000 combine. What I’m more concerned about is that first and second trade that are $350,000 or $280,000 machines. So when I look out there, I try to see how many guys might be interested in those units. Unfortunately, right now when we go to talk to somebody about a high dollar, late, low hour used model, that same person is probably someone who could buy a new one, too. So we have to be careful who we talk to. We have to get to know their business before saying, “Hey, why don’t you buy a new one?” Because there’s a likely chance they should be buying a used one.
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Differentials for Mastering The Turnover Timetable

Just because a trade-in is only on Day 2 doesn’t mean you have to treat it that way.
Nobody said reselling used equipment would be a guaranteed avenue for success, and even our most valiant attempts will occasionally beckon to the auction block. But with the right preparation and mentality to sell trade-ins in a timely manner, I think dealerships can find more success than they would lead themselves to believe.
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For Success After the Trade-In, Preparation Trumps All

Customer transparency and equipment showcasing is key, but according to trade-in experts, most sales are won or lost before customers step into the dealership.
Equipment might get old, but smooth trade-ins at maximum margins never go out of style. With little question about the pitfalls of leaving used machines on the lot too long, dealers tuned in to learn the good, the bad and the ugly of equipment turnover strategies.
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Ron Harmon exterior of Big Equipment
Sponsored Content: Success in Shortline Machinery

Selling Shortline Machinery to Generate Trade-Ins — A Symbiotic Relationship

Big Equipment in West Havre, Mont., has found the key to selling shortline machinery is being able to take trade-ins and provide personal service and support.
Big Equipment in West Havre, Mont., has found the key to selling shortline machinery is being able to take trade-ins and provide personal service and support.
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