This is a guest post from Doug Hadden, Director of Dealer Training at ADESA.

It’s hard to believe, but I still hear used car managers, GMs and owners tell me they refuse to buy vehicles from an online auction. If it was 1990, I could go with it. The reality is, it’s 2014 and those who still think online acquisitions are something those “geek types” do will be left to sift through the leftovers.

I’m not saying there will be an end to the brick and mortar auctions. There will always be a need for those. What I’m saying is, if you want to find the best possible selection of vehicles, the ones that have high retail demand, you’d better figure out how to make online acquisitions part of your regular buying routine.

Many dealers have successfully conquered buying and selling wholesale in the digital realm. It’s not as hard as you may think to set up a “war room” as some of my dealer friends have affectionately named the office where they have multiple monitors to bid and buy remotely at live auctions. They also bid and buy on static eBay-style auctions day and night.

Is this something you can flip a switch and make happen overnight? No. But all you have to do is sit down and make a plan.

Plan to set aside the time to understand the differences between online and in lane. Make a plan to get training and support from your online auction. Make a plan to set up policies and procedures within your dealership’s wholesale team regarding online purchases.

Plan on making a couple of mistakes on your first purchases (it’s OK, it’s a learning curve). But most importantly, plan on being able to find the cars you need to meet your used-vehicle department’s retail plan.

Will you be at the NADA Convention in San Francisco? Check out Doug’s presentation at one of the following times:

Digital Wholesale

1/22/2015      2 p.m.–3:15 p.m.      3005W
1/24/2015      8:30 a.m.–9:45 a.m.      3006-3008W