Retail My Ride launches free tools to show dealers the impact of adding consignment
Image courtesy of Retail My Ride.
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Retail My Ride has added three free tools to its dealer resource platform.
The auto retail consignment sourcing platform announced the launch of the new interactive tools, which it said are designed to help dealers “model, measure and master” a dual-path private party acquisition model, offering both purchase and consignment options to private-party sellers.
The Cash-vs-Consign Calculator offers a side-by-side comparison to show dealers and sellers the financial difference between an outright purchase and a retail consignment for a vehicle.
The Inventory Mixer Tool is a simulator designed to let dealers test different blends of owned and consigned units to see how factors such as capital freed up, interest avoided and gross profit change with different percentages.
The Look-to-Book Accelerator models various scenarios, Retail My Ride said, to show how dual-path offers can alter conversion rates, units acquired and total gross based on dealers’ inputs and assumptions.
The company said the tools provide a “practical, numbers-driven way” for dealers to see how the dual-path model can affect their results.
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“These tools turn theory into proof,” Retail My Ride founder and CEO Jim Horan said. “Dealers can run their own numbers — not projections — and instantly see how mixing in consignment changes everything: cash flow, risk and return. It’s not hypothetical anymore. It’s their math.”
Retail My Ride said the new tools build on its mission to “normalize retail car consignment as a mainstream acquisition path for dealerships and a better resale option for private-party sellers.” The company provides technology, startup training and continuing support for dealers looking to integrate consignment into their sourcing strategy.
The tools are now available at AcquireMoreCars.com.