04 Sep CPO Programs Aren’t Just For OE’s Anymore
Should CPO programs ONLY be offered by franchise dealerships? Is there an advantage to a used car lot offering this next-level buying program?
Better question…why should OE’s get all the fun (and profit)?
The simple answer is that there is no reason why your used auto lot shouldn’t offer a CPO program. Think of the market now…used cars are seeing levels rise every month, inventory is plentiful, and there is substantial profit to be made at a time when every dealership needs it now more than ever.
CPO programs for the OE’s have a few layers to their process but it can be easy for your store to offer the same. Here’s a few ways to leverage your OWN certified pre-owned program:
Roll Out a Strong Marketing Message
Hit the local market with the same messaging that the OE’s use and in all the same channels. Social media, direct mail, email, and feature it prominently on your website. Shout it from the rooftops that local used car shoppers don’t have to be limited to local franchises to get a certified vehicle.
Make the CPO Package a No-Brainer
Work with an aftermarket administrator that offers a robust and completely turnkey package, one that mirrors what the OE’s offer. Multi-point inspection, longer powertrain to 100k or beyond, 24/7 roadside and rental reimbursement. It’s all about the buyer feeling like they are getting a used unit that is a step above every other used lot in the community. Your inventory is cherry-picked to be the best and labeling them as CPO gives your shoppers the feeling that they are.
Brand it, Own It
Be sure to work with a provider that offers to help you brand this program to your store. Don’t go it alone if you don’t have to. Get materials for the showroom and offices that clearly highlight it as your CPO program and call it by your store’s name. Dealers that hesitate to put their name in lights don’t get the traffic increase they need.
Click here to find out how TruWarranty can help you private label your own CPO program. After all, why let the OE’s have all the profits?