One of the marks of a great dealership is an ability to turn over vehicles quickly and efficiently so that the lot never looks quite the same as the day before. However, even the best sales teams run into the problem of a particular unit that has been sitting on the lot for far too long. As time goes on, these older boats, RVs, campers, and other vehicles only get harder and harder to sell. So, what is the solution?
Liquidation RV, Boat, and Camper Sales
Perhaps the most general (brute force, if you will) strategy to sell older inventory is to have a liquidation sale. Even if your dealership is technically losing money on the older inventory sold, you will be making room for newer, higher-margin units.
Your lot only has so much space, and every day that units wait for a buyer is a day losing money. The cost of procuring the RV, storing it on your lot, and potentially even performing maintenance (if it has been there a while) is sunk. That vehicle is producing zero income for your dealership, so almost anything is better than nothing.
A Reliable F&I Department
Just as important as pricing your inventory to move is ensuring that you can get as many loan applications approved. If someone walks through the door who otherwise might not be able to buy an RV, sees marked down prices, and decides to make a move, the last thing you need is a denied loan application.
Finance Solution has a proven ability to close more loans than both internal financing and insurance departments and outsourced solutions. In fact, we can demonstrate how we can generate as many as 20% more approvals than competing solutions.
One of the first things we do when starting a conversation with a prospective client is to take a look at their recent loan applications that fell through. With this information, we’re able to offer a picture of how many of those could have converted into sold units had Finance Solution been involved.
Sorting Through Your Inventory
It’s likely that you already have images of each unit on your lot as well as a record of how long each vehicle has been sitting there. However, your inventory may lack critical details like pricing history, comprehensive lists of features, or information about potential sales that didn’t quite make it over the finish line.
By gathering as much information as possible, you will be able to create a marketing plan dedicated to the specific units you are looking to sell.
If you only have one or two pictures of each unit posted on your website, it is unlikely that your website is driving sales. Instead, Take many pictures, inside and out, that serve to recreate the showroom on your potential customers’ mobile devices and computers. Make sure to highlight the best features of each unit. If a unit hasn’t sold, it is likely that a core problem is that potential buyers simply don’t know the unit exists.
These images can also be shared via social media. Platforms like Instagram are also perfect for recording and posting walkthrough videos of your units. With a bit of work, you can put your inventory into your customers’ pockets.
What About Online Sales?
Whether you are wondering how to sell your RV online or in person, a key is developing a dedicated marketing strategy for the units you are hoping to sell. Instead of just marketing or advertising your dealership as a whole, drive attention to the features and benefits of specific units.
Of course, this doesn’t mean neglecting your top sellers or higher-margin units. However, boats and RVs that are just taking up space can make it difficult to focus on the fast movers. Be specific with your units that aren’t moving so that potential buyers know what’s out there. Most likely, these units will perfectly meet the needs and desires of many potential buyers, but if there isn’t much info available, they’re going to default to the bright and shiny toys on your lot.
Give us a call today or fill out the form below. Beyond marketing and getting your inventory ducks in a row, an efficient F&I solution is the key to moving units.
