25 Oct Give Your Inventory the CPO Treatment and Stand Apart
If you or someone you know has been trying to find a used car lately, it’s been a bit of a shock. COVID-19 hit the US in the Spring and with it came a halt to new auto manufacturing assembly lines and suddenly, everyone was scrambling for decent low-mileage used cars instead.
Except….not enough decent used cars around either. Ouch.
Auctions closed for a time and with no new car trades at the franchise stores, bad just seemed to get worse. Oh wait…and lenders put repo moratoriums in place so those cars were coming into the remarketing channel either.
As we come into the Fall, dealers have to adjust prices to supply (low) and demand (high). But lost in this is how to still be competitive in your market for the used car inventory you DO have.
One way to do this is offering a private-label CPO program. Don’t let the OEM’s have all the fun.
If your F&I administrator doesn’t offer the ability to build out a CPO program, consider reaching out to one that does, like TruWarranty. Our CPO program can be private-labeled for your store and put you in a favorable position to compete against the local OEM’s CPO programs that can cost much more.
And in this uncertain time with inventory shortages and higher prices, offering local customers a more customized and better protected used auto buying experience can make a big difference in sales.
Think about it…BMW, Acura, Mercedes, etc all offer high-end CPO programs that buyers have come to understand as a ‘step above’ when buying used. It’s an exclusive protection and inspection process that only the RIGHT kind of used units get. Your store can offer the same even if you aren’t a franchise location.
High volume used dealers can offer the same 7yr/100k warranty protections, 24/7 roadside, and more to go along with a 125 multi-point inspection checklist to give the buyer the sense that your car is just as good as the BMW down the street…but for much less.
Click here to see how TruWarranty can help you raise front-end profits by offering a private-label CPO program with a lower cost to you. Easy turnkey process and next-gen marketing support to make sure every local shopper knows there is a new high-end used car buying experience in town.