Speed Matters!

Speed Matters!

In an age where the majority of the population are on the internet, speed matters. We’re not talking about WiFi speed here though, we’re talking about speed in the motor trade.

I’ll keep this one short, but it’s something I have found valuable over the last 2 years.

Reading Car Dealer Magazine yesterday, I discovered that used car buyers are spending over a week longer researching their next purchase.

After a survey of 3,000 buyers, they discovered that potential EV buyers are taking longer researching the market before splashing the cash, and also low consumer confidence is having an impact.

You can read the full publication HERE, but it got me thinking when reading this article how much speed matters in my role.

The article states that consumers are slowing down their purchase to research the market and consider their options before parting with their money.

Take a second to consider the customers thought process when SELLING their car. There are so many platforms and companies all competing to buy their car. The customer has time to consider their options and select the right one for them. For some it may be price, others it may be the convenience of a home collection.

My point here is…. if you want to buy good stock, you require the NEED FOR SPEED (just like the photo)

Find a vehicle, research it, and move quickly. As soon as you put the phone down to ‘research’ the vehicle again or consider the price, someone else will be calling your customer arranging to collect the vehicle. Be the first out to the customer face-to-face to have the best chance of buying great stock on Autotrader.

Don’t be like me on a car this week. I agreed to buy an Alfa Romeo this week for £12,900. I couldn’t collect for 48 hours. We’d agreed the deal. The next day it went on Motorway and sold for £13,500! How it could have sold for that much (£14,000 SIV after Motorway fee etc) and looked like £14,995 out.

My point is, I missed out on a great vehicle for stock because on this particular occasion I couldn’t move quickly enough.