I’m one of the owners of Houston Wholesale in Albuquerque, N.M. We’ve had this business for 8 years and I’ve been in the business for 17 years. When somebody walks on the lot, we are right there at the front gate and we are the last people they see when they finish a deal.
I go to weekly auctions. I have an employee who travels the Southwest to buy cars. And I normally keep 17 cars on OVE all the time. I’m probably the number one OVE seller in the state.
I use my Stockwave app before every auction. The app is so powerful I can actually walk into an auction unprepared and get the same results I used to get from spending several hours of prep on auction morning. I can look at vehicle history and see comparable vehicles in the market. I can also see all the book values I need — MMR, NADA, Kelley Blue Book.
I list certain cars on OVE and I use AIM for them. AIM comes out every Monday, does the inspections and lists them on OVE. I don’t have to waste time talking to one potential buyer or 10 potential buyers. They look at the condition report and that’s it. It takes all the liability away from me for misrepresenting something.
Manheim makes it really easy because they have a solution for each part of our buying process. Whenever they introduce something new, they always communicate with us and teach us how it works for us. It’s simple and consistent.
I’m a partner at Music City Autoplex and we are a wholesale and retail dealer. We do a lot of business with Manheim primarily on the wholesale side, and I’ve been doing business with them personally for 20 years.
We write a Condition Report for every car; it’s a big product that we use. We average about 150 cars listed a week, and sell 55% of them. When they arrive at the auction, CRs are done, pictures are taken and they are put online. We get them done by Tuesday so people can walk in with the CRs, ready to buy on Wednesday.
Manheim buyers are better equipped to purchase because they have better information. Our buyers want to go online, see a CR, and have confidence in that vehicle. Manheim has, in our opinion, the best process by a long shot.
Our buyers believe in CRs, and we’ve provided them every single week for 4½ years. The reason we CR every car is because Manheim’s CRs are very thorough and buyers can get a really good feel for what that car is really like, which boosts their trust in their purchase and in us.
I’m president and owner of Jewer Family Holdings. We specialize in importing 2015 and 2016 Ford F-150s exclusively from Ford stores in the greater Toronto area, and then sell them in the U.S. at Manheim auctions. Most are one-owner and off-lease vehicles with aluminum frames.
Manheim has partnered with me to put a system in place where every vehicle I bring in automatically gets a CR, is cleaned up and gets a 7-day pre-sale inspection. I’m speeding up the process of getting vehicles ready for sale without the extra cost of maintaining my own recon facility. It accounts for probably 20% of my profitability.
Manheim worked with me to put a recon system into place to improve my condition reports. Anything that needs to be done up to $500 gets done without needing approval from me. Manheim has done a great job of getting my CRs as high as possible where it’s financially viable and makes sense. As a result, I’m getting more money for my vehicles and turning them quicker.
I’M SUCCESSFUL SELLING ON OVE. We have a 5.0 seller rating on OVE. Since we only list vehicles that are at least a 4+, and that come with a CR and a record of the recon, dealers are confident they’re getting a vehicle they can sell without having to do a bunch of work.
I’m a used car wholesale and retail consultant.
I think you should market cars for retail and wholesale at the same time. If it doesn’t sell at retail, then it gets wholesaled. Who cares whether you retail and make a profit or you wholesale and make a profit?
I don’t care if it’s a $500 car or a $5,000 car, it gets a condition report. Condition reports open up my avenues. I’m a big believer in outside-the-gate inspections with AIM. Once they’ve done the inspection, they automatically list the car on OVE. Listing them early — upstream — improves my efficiency. I call it “wholesale velocity.”
First thing I do every morning is use my vAuto tool to do my pricing. My average turn time is 22 days, and that’s from cradle to grave — from the day we buy it to the day we cash the contract. I turn my inventory completely 14 to 15 times a year.
I am relentless in learning how to use them to my advantage. I just found a ’67 Chevrolet Nova on Autotrader that took me 38 years to buy. Forty years ago, I tried to buy one when my wife and I were dating. She laughs at me every time she sees me driving it.
I’m the owner of Ron’s Used Cars in Sumter, S.C. My son operates the business, but I’m very much involved. I have been doing business with Manheim for 25 years.
Mobile auctions are an extended arm of the auction. I go to 6 or 7 mobile auctions a month. Cars are posted prior to the sale so we can check them out. Most of them have a condition report so we know what’s there before we make the trip. The sales are easy-in, easy-out. Real accessible.
We look for fresh trades. With the mobile auction, there are often opportunities to buy cars that have been traded in to a new car dealer and need very little reconditioning. It creates an opportunity for me to be a little more aggressive in buying, whether cars are “as-is” or green light, so there’s a good chance my profit margin is going to be higher.
I like the idea that the sale is on the dealership’s property and you don’t have to combat 1,000 cars. You can be in and out of a mobile auction in a half-day and back in your office doing business for the other half. I wish there was a mobile sale every day.
Used to be you had to have a prime location for people to find you, but that’s not the case anymore. More and more people are coming through the Internet to find and buy cars. We post our cars on our site and third-party sites like Autotrader, and it’s definitely paying dividends for us. By the time customers show up on our lot, they’ve already seen the car online and have done their homework. Being able to post inventory quickly helps us sell quickly.
I am with the The Auto Store Group based out of eastern North Carolina. We buy vehicles from Manheim auctions up and down the East Coast. I am the vehicle acquisition manager and am in charge of all wholesale liquidation.
I like to “buy from my feet, not my seat.” That’s why I do everything from my phone — checks, gate passes, ordering PSIs, transportation, check title status and more. If I’m not buying cars, I’m not making money. It’s freed me up to spend more time in the lanes so we’re more profitable.
I post a load to Central Dispatch from my smartphone and get calls back within a few minutes from truckers. Not only is it faster, but I am saving probably half of what I used to pay for transport, which has increased our bottom line.
I get an email notification every time a member of my team buys a vehicle in-lane or online. It helps us keep up with inventory management because it’s all in real time. Not only that, it helps our dealerships know what cars are coming in before they even get bills of sale.
Taking advantage of what Manheim offers puts me ahead of some of the other dealers. With the more efficient Manheim process we can get to more Manheim auctions in the same day. I get a lot more done with a lot less work. I’m able to buy cars, sell cars, while other dealers are waiting in line. I’ve got a lot better chance at getting that buy than they do.
I am the general manager at DCH Toyota of Torrance in Torrance, California, and Morgan is our general sales manager. We have over 25 years’ experience between the two of us. For the past year, we’ve been buying all of our inventory exclusively online with Manheim.
We used to get around 40 to 60 cars a month through physical auctions. Now we buy 80 to 100 cars a month exclusively on OVE. We can do in 15 hours a week what used to take 50. We don’t have to spend our days going to the auction. Instead we buy online anytime, and can spend our time where it pays off — at the dealership.
It’s super-intuitive and we get access to an unlimited supply of inventory. The whole process is easy because Stockwave and Ready Logistics are integrated. We use vAuto to find the right cars, price and appraise them. Ready Logistics simplifies our transportation because we can order it online. We can track everything so we know when the cars arrive. We also know exactly what it’s costing us, which helps us maximize our profit.
We use Deal Shield with every car we buy. It helps us be aggressive and stock the vehicles we need. We know if we’re not happy with a vehicle or if there’s something structural we didn’t see, Deal Shield backs us up and we can send it back. Deal Shield is pain-free and hassle-free.
Buying digitally has shrunk our days to the front-line and that’s helped speed up our turn time. We're getting good inventory on OVE that needs less recon and have more than doubled our volume.