Tips on Moving Older Inventory and Selling RVs
As an RV dealership, one of the most valuable assets you can have is the ability to turn over inventory efficiently and swiftly. Potential customers are more likely to be drawn to a dealership whose lot never looks quite the same as it did the week prior. However, even with the best sales team at your disposal, you may eventually run into the dilemma of a particular unit that has been sitting unsold for far too long. And, as time passes, older RV units become increasingly more burdensome to sell. So, what is the solution to selling RVs and other older inventory collecting dust on your lot?
Generally speaking, the most forceful approach you can take toward selling older inventory is to advertise a liquidation sale. Although your dealership may lose some money on the older units sold, the benefit is that you can quickly make room for other newer, higher-margin RVs. After all, your lot has limited space, and each day that passes without a sale on an older unit is a day that costs you profits. Storage and maintenance fees for old inventory are sunk costs. If an RV generates no income for your dealership, any profits gained from a liquidation sale are better than nothing.
Sort Through Your Inventory
Most likely, your dealership has already cataloged some basic information about your units, such as a record of how long each has been sitting on your lot, along with a few images. But are you lacking crucial details like a complete list of each unit’s features or pricing history? What about the information on potential sales that seem promising but ultimately resulted in the buyer backing out?
The more data you gather, the easier it will be to market the older units you are attempting to sell. Drive more leads to your website by posting many different photos for each RV that highlight their most unique and desirable features. Additionally, post a comprehensive list of its features. Often, the central problem for a unit not selling is simply that potential buyers aren’t aware that it exists. With a bit of creativity and social media engagement on your end, high-quality photos can rapidly turn into a sale for your dealership.
Benefit From a Consumer Financing Partnership
Ensuring that you can get a potential buyer’s loan application approved is just as important as competitive pricing and an online social presence. If an interested buyer is drawn in by discounted prices and jumps on a unit, you want to avoid a denied loan application if possible.
Medallion Bank offers quality non-prime financing for new and used towable RVs, motorhomes, and truck campers, according to NADA Guides. We specialize in helping recreation dealerships finance customers with past credit challenges, including bankruptcy and other credit issues. And since loans in this sector are one of our specialties, we know what it takes to help get the customer approved and the deals done.
An efficient consumer financing partnership is key to selling RVs and consistently moving your inventory. If you are interested in partnering with Medallion Bank, please contact our team today.