Jan 16, 2014
Heads Up! We're changing lanes!
With the change in the automobile market this past year, and the projected rise of inventory with our Lease Bank clients, we have decided to add a new Lease Bank lane. The new lane is positioned in Lane 8 and will be called the FR lane (Finance/Rental). The lane begins each week at 10:00am with either CAC or UACC (alternating weeks), followed by our rental units from Enterprise, Avis Budget Group, and Triangle Rent-A-Car. The R lane will now be in Lane 6.
We've also added the "SC" Lane to run in the front of Lane 7. The SC lane, or Santander/Chrysler Capital Lane, will kickoff Lane 7 each week at 10:00am. Santander is our largest lease/bank client and they consistently offer a large variety of top quality units. Our traditional "LB" Lane will follow the Santander & Chrysler Capital units each week in lane 7.
We simply ran out of room for the large numbers of great vehicles we had pouring into our LB and R lanes. And all indications suggest this market segment will continue to grow fairly quickly.
The C and D Lanes, which alternatively were seeing smaller and smaller numbers each week, will be combined into one lane - the new I lane (Independent Dealers Lane). The I Lane is now in Lane 1, with the other lanes (X, E, SP, and T) moved down one lane.
One other notable change is that the Early Board is going away for independent dealers, and all numbers will be determined by a (rolling) annual percentage of sold units for the I, E, X and T lanes.
With these changes, we took a minute to sit down with Angela Martin from Vehicle Registration, who had a few tips to share with our dealers on how to improve their overall auction experience:
1. Work Hard to Sell Your Units
Everyone wants the best run position possible for their units. We've tried a lot of methods here at CAA, but the fairest way seems to be to let Dealers' sales percentage determine the order. It levels the playing field for everyone. It's more work on our Team, but we will sit down each week to determine the sales percentage of every seller for a rolling 12-month period.
We'll be featuring a blog soon with helpful tips on how to increase sales percentage of your units.
2. Get the Units Here
Angela and Maureen register vehicles every day. And one fact remains the same week-to-week: the earlier you get your units to the auction, the more eyes are on the vehicles. Dealers come by every day to kick the tires and check out the cars that will be selling the next week. Having your vehicle here on the lot gives you an advantage.
3. Drop the Cars Off Correctly
For independent dealers, all registered vehicles should be dropped off under the canopy next to the main office. With 1000-1500 units coming in each week, putting your cars in the wrong place could easily get them misplaced among Repos, Lease Bank units, etc... It also means that potential buyers are not looking at your units because they're in the wrong place among a different market segment.