If you’re aiming to make a business of buying and selling cars, there’s one thing you’re always going to need more of, and that’s information. Anything and everything you can find out about the vehicles you stock will be valuable, especially if you deal in used cars.
What You Need
What you need is a car checking system—access to some sort of database that will tell you everything you need to know about vehicles as you acquire them, even things the sellers don’t know or don’t want to share.
How it Helps
Access to this information can net you a number of benefits. Knowing the full specifications of a vehicle can help you maximise profits and conversion rates by highlighting all the car’s best features. A complete record will also clue you in to what’s going on under the hood, which is especially important if you’re working in the used car industry, where a motor’s storied past can affect its performance.
This allows you to accurately price the cars you sell. Not only does this mean you’ll never let a vehicle go for less than it’s worth because of what you don’t know, it also protects you from the risk of overcharging a customer for a vehicle that’s in less than stellar condition.
When your dealership is in its infancy, the last thing you want is the liability for mis-selling a vehicle, and all the financial consequences and damage to your reputation that come with it.
A good vehicle database will also have a record of a car’s history. One in three vehicles has pertinent information hidden in its past. This includes not only any repairs, replacements, or modifications that might affect its value, but also whether the vehicle has ever been written off or stolen. You expose yourself to significant risk of loss if you sell a vehicle without knowing about any of these—or, in the case of a stolen car, if you sell it at all.
Which to Use
So you can see the value of car checking systems, but as a parting word, we recommend you seek out a system designed and optimised for business use. Some are meant primarily for consumer information, and these will be comparatively poor value for your purposes.