{"href":"https://api.simplecast.com/oembed?url=https%3A%2F%2Fvin-dow-podcast.simplecast.com%2Fepisodes%2Fthree-rules-for-wholesale-cwpmFH7F","width":444,"version":"1.0","type":"rich","title":"Three Rules For Wholesale Profits At Your Dealership","thumbnail_width":300,"thumbnail_url":"https://image.simplecastcdn.com/images/d6f2912d-08b6-4c24-b68e-9488758c4b04/6e50f26c-b235-41a0-9d41-ac1779c812f8/bob-podcast.jpg","thumbnail_height":300,"provider_url":"https://simplecast.com","provider_name":"Simplecast","html":"","height":200,"description":"In this week's VIN-dow podcast, Robert shares where wholesale profits are made and why wholesale is no longer a \"dirty\" word. \n\nThe most successful publicly traded companies are not looking to break even wholesale.  Find wholesale on their financial statements, and you will find profits. Carvana and Carmax are doing it! \n\nThree rules to follow to make a wholesale profit: \n\n1) Buy right to sell right. Make profit when you acquire, not when you sell. Avoid getting welded into trades by having a measurable, repeatable process in place to trade frequently, and at an advantageous price. When you offer what a car is really worth based on its condition, desirability, and history, you avoid getting welded into the trade. \n\n2) Understand the piranha effect. Ask too little, and get too much. Carvana strategically asks too little for cars inducing the \"piranha effect\". By doing this they convert 99% of the time and avoid bidder fatigue (ie: bidding on cars but experiencing IF bids over, and over, and over again)\n\n3) Leverage your service lane. Acquire challenged cars that you have no interest in retailing. The best opportunity in your dealership? The easiest cars to acquire are the challenged vehicles sitting on your lot. Direct upload the daily RO's into Accu-Trade and have someone printing out live offers on every trade coming through service. \n\nYou won't go to hell if you make a wholesale profit! \n\nWant to learn more about Accu-Trade, check us out www.accu-trade.com. "}