How VettX Helps Dealerships Utilize the Third-Party Vehicle Market to its Full Potential

Since the start of the pandemic, many dealers have struggled to acquire used inventory. Is sourcing from private parties the way of the future? On today’s show, we’ve brought in Stephen Stearns, Used Car Manager at County Ford in North Carolina and we’re also joined by Nick Patterson, CEO and Co-Founder of VettX.

In this segment, Nick and Stephen discuss why sourcing private party vehicles for the dealership is so important for the used car department. For Stephen, having the option and convenience of a partner like VettX allows him to not be completely reliant on auctions for his inventory. The time he saves allows him to spend more energy on running the used car department. 

The inventory sourced through VettX has also had a huge impact on used car sales performance. Like many dealers, Stephen believes that if you have the right amount of the right inventory, then you’re winning the game in today’s COVID-19 marketplace. With this new profitability, Stephen is also expanding the kinds of vehicles his deapertment offers. 

Nick and Stephen then tackle what it takes to be successful at buying private party vehicles and some of the challenges buying from the third-party market. There’s always a lot going on the dealership, however, Stephen says that VettX has helped them build the necessary infrasturcture to buy their third-party vehicles in an efficient and prdocutive way. 

Given the current market conditions that dealerships are facing, both Nick and Stephen think that everyone big or small should be putting their focus on this market. To find our more about VettX, be sure to watch our full interview above.

Did you enjoy this interview with Nick Patterson and Stephen Stearns? Please share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at jfitzpatrick@cbtnews.com.