Tax Refund Sale - How Did You Do This Year ?

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Tax Refund Sale - How Did You Do This Year ?

Postby combs.3602 » Thu Mar 26, 2015 7:33 pm

Hi guys - Some of you know of or about me. I started in business over 40 years ago. At my height I had 10 stores in 2 states , about 1000 cars , about 10 mil receivables , 85 employees , and, all of the heartaches and headaches that come with it . In 2008 I scaled down to 2 large stores , 300 cars , 25 employees , and ofcourse a little less in receivables . My big bang was , and is always, our 1st 1/4 income tax refund sale . The sale sometimes amounts to about 1/2 of the years sales and a large influx of income . Although the years have been up and down , it seems there is more competition and less sales . The 1st 1/4 of 2015 is almost complete and despite my strong and deliberate efforts my sales are off by about 40 cars . This number is not significant when you consider we still had almost 300 sales . Grant it we cannot compare sales numbers with one another because of our logistics , methods ( downs , monthly , gross markup , gross price , clientele ). For the record - we usually sell cars averaging 5-14k , average markup of 3k -drive off $500 and (try) to get up to 1/3 total down when their tax check arrives - monthly payments of 250-300 . When they bring the tax check we give them a new flatscreen TV . $1500 = 32" $2000 = 40" $2500 = 50" $3500 = 60" . This incentive costs quite a lot but helps to sell the car and helps to bring the down payment in and to a higher amount. Our advertising for the 1/4 is upwards from 60-100k. Please post your methods and your success , or lack thereof here for this 1st 1/4 :) I believe we can all benefit and learn how to become stronger and better if we work together. :) Thanks Dennis Combs combscarcorral.com Boise/Nampa,Idaho
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Re: Tax Refund Sale - How Did You Do This Year ?

Postby localmotors1.7065 » Tue Apr 07, 2015 3:09 am

Howdy, We had a better tax season this year than last. We do online advertising with our website we do not use any print advertising at all. We have 3 employees and 2 owners. I think the reason for a better tax season was that we strive to sell a quality car and provide great customer service. I will not discuss our numbers but we like to keep our average age of inventory below 50 days. This can be difficult when it can take 10 or more days to have a vehicle ready to sell. When i say ready to sell i mean from the time you acquire the vehicle to service test drive detail and take the pictures for the website! I believe that turning the inventory in a bhph operation is a very critical and often over looked part of your operation. Thanks John Pinckard co/owner Local Motors Inc. Colorado :mrgreen:
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