Used Equipment Remarketing

Are You Playing Football or Baseball With Your Trades?

Forrester Equipment & Butler Machinery share their approaches to bringing discipline into the valuation process for used machinery.

By Mike Wiles posted on October 14, 2017 | Posted in Used Equipment Remarketing

Every dealership has its own unique way of dealing with trades. Some are aggressively pursuing acquisition of used equipment, viewing it as a profit source, and dealing in high volumes. That tendency usually goes with being in a non-row-crop area with smaller equipment and less risk of making mistakes.

H&R’s Valuation Process Minimizes The Risk That Comes With Trade-Ins

H&R Agri-Power has developed a proprietary app that guides its sales team through the trade-in process, ensuring all the necessary information is included to value it properly — quickly.

By David Gibson posted on October 14, 2017 | Posted in Used Equipment Remarketing

The primary functions of our wholesale division are used equipment evaluations. We evaluate possible trades for 43 salesmen. My counterpart Eddie Borders and I provide an educated and well researched opinion of the wholesale value for each potential trade.

Back-Loaded Commission Structure to Change Equipment Sales Behavior

By Trent Hummel posted on October 14, 2017 | Posted in Used Equipment Remarketing, Operations & Finance, Department Management

What I’ve got is a kitchen table education. I come from a long line of wholegoods managers. A lot of you know my dad, Roy. I presented the following ideas to him in 2005 when things were a mess.

Comparing Compensation Programs: Focus on What You Want

AgriVision (John Deere) and Livingston Machinery (AGCO) detail the compensation programs they’ve developed to keep attention on used equipment — and the actions they most want to drive.

By Mike Lessiter posted on October 14, 2017 | Posted in Best Practices, Used Equipment Remarketing, Operations & Finance, Department Management

Used equipment experts agree that there’s no silver bullet when it comes to a compensation plan. There are numerous variables, personalities and ways of doing business and no single program is a panacea. But like most things, as a manager, you get to choose which behaviors you most want to drive, and also the set of challenges that go along with them.

4 Steps to Turn Used Equipment Into Cashflow

Consultant Dr. Jim Weber urges dealers to buy smart, limit reconditioning, be attentive to sales mix and compensate sales on what matters most.

By Dan Crummett posted on October 14, 2017 | Posted in Used Equipment Remarketing

There is cash in used iron, and for most farm equipment dealers that pre-owned inventory represents the path to the overall health and lifeblood of their business. Dr. Jim Weber, a 40-year veteran consultant and trainer in the farm and construction equipment industry, says an on-going survey of large volume dealers in Canada shows used equipment turn rates — and corresponding positive cashflow rates — have fallen by about a third since 2012 as many dealers have been busy selling new equipment, with wholegood transactions averaging 81-82% of their dealership’s total sales.

Used Equipment Remarketing Edition

October 14, 2017 | Posted in Best Practices, Used Equipment Remarketing

Managing used equipment inventories and remarketing equipment is a big — if not the biggest — challenge for farm equipment dealers today. And while the used equipment problem is improving, dealers still have a lot of cash tied up in the used equipment inventory sitting on their lots.

Ask the Expert: Remarketing Used Equipment

What are the Best Prospects for Improving Your Used Equipment Situation Right Now?

By Casey Seymour posted on October 12, 2017 | Posted in Used Equipment Remarketing

The biggest couple of things I heard at the 2017 Dealership Minds Summit included keeping the late model stuff moving and how much new equipment should be sold to support used sales. Most of the customers who can buy late and low are also the same buyers who can by new.

Used Equipment Remarketing Roadmaps

[Podcast] The Used Equipment Market from the Wholesale Perspective

Casey Seymour of 21st Century Equipment and Moving Iron LLC is joined by Aaron Fintel, of 21st Century Equipment, a 16-store John Deere dealership with locations throughout Nebraska, Colorado and Wyoming. The two discuss how fickle the wholesale market is and hopes for the future.

October 4, 2017 | Posted in Best Practices, Used Equipment Remarketing

Casey Seymour of 21st Century Equipment and Moving Iron LLC is joined by Aaron Fintel, of 21st Century Equipment, a 16-store John Deere dealership with locations throughout Nebraska, Colorado and Wyoming. The two discuss how fickle the wholesale market is and hopes for the future.

Ask the Expert: Remarketing Used Equipment

What’s the Biggest Factor to Increase Used Turns?

By Casey Seymour posted on October 4, 2017 | Posted in Used Equipment Remarketing

There are two things you have to consider. First, you have to understand the washout cycle. The washout tells you how long you will hold equipment and how many units you will need to sell through to get to a cash/no trade scenario.

Machinery Pete: Two Tractors Sold at Different Times

By Greg Peterson, Machinery Pete posted on September 29, 2017 | Posted in Used Equipment Remarketing

August and September 2017 were fairly bearish months in terms of farmer sentiment due to a couple of negative USDA crop report estimates.

Used Equipment Remarketing
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Are You Playing Football or Baseball With Your Trades?

H&R’s Valuation Process Minimizes The Risk That Comes With Trade-Ins

Back-Loaded Commission Structure to Change Equipment Sales Behavior

Comparing Compensation Programs: Focus on What You Want

4 Steps to Turn Used Equipment Into Cashflow

Used Equipment Remarketing Edition

What are the Best Prospects for Improving Your Used Equipment Situation Right Now?

[Podcast] The Used Equipment Market from the Wholesale Perspective

What’s the Biggest Factor to Increase Used Turns?

Machinery Pete: Two Tractors Sold at Different Times

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