Correctly valuing used equipment is Job 1, and while there’s no silver bullet, you can increase your odds and limit those deals where you’ve been “bitten too hard” by following a disciplined, data-backed approach. During this authoritative panel discussion, 3 experienced dealers from different regions of the U.S. share the process they use to determine the best value for used equipment to get it sold.

A recap from the shared insights, questions and peer interactions from the 8 concurrent roundtables on important remarketing subjects.

Having spent his entire career in used equipment remarketing at 3 different dealer groups, and personally responsible for much of the industry’s sharing of best practices on the subject, Casey Seymour brings a unique viewpoint to the Dealership Minds Summit. Recognized as one of the best and most practical minds in the industry, he’s personally worked to instill inventory management controls and understanding of fundamentals for all dealers.

Terry Hlavinka, general manager of Hlavinka Equipment Co. in East Bernard, Texas, discusses the importance of cashflow as a dealership, and how implementing a system to limit inventory and perform in-house accounts is crucial for attaining strong margins.

Terry Hlavinka, general manager of Hlavinka Equipment Co. in East Bernard, Texas, reflects on the 2017 Dealership Minds Summit and what resonated most for improving his own business.

Due to the number of attendees that preregistered for this topic, the “Valuation Data Sources: What, Who & Why?” roundtable was held both days of the Dealership Minds Summit – Roadmap to Mastering Equipment Remarketing. The majority of dealers attending this session were looking for better tools to use when placing a value on used equipment and trade-ins. One dealer said, “It is an inefficient marketplace, the information is bad. How do we get better information?”

During a roundtable discussion at the Dealership Minds Summit moderated by Anne Salemo, president of Charter Software, dealer discussed how they are tracking their used equipment inventory. Implementing a real-time inventory tracking system at a dealership is an important business decision with several variables to consider. In order to evaluate whether a real-time tracking system will benefit your bottom line, dealers need to evaluate their losses and look at their internal inventory controls.  If your internal inventory controls are off and not being managed properly, implementing a real-time tracking system will have little hope for success, one dealer commented.

Much like in the auto industry, certified pre-owned (CPO) purchase programs can offer a buyer piece-of-mind with their used equipment purchase. But, offering CPOs may not always be the best decision for your dealership or your customer. There are a variety of financing and support options available across major suppliers like Case IH, Deere and AGCO, however one constant variable is that major suppliers expect higher dollars on certified pre-owned sales. Dealers gathered to discuss what they’ve learned from CPOs during a roundtable moderated by Kyle Kennedy, Livingston Machinery, during the Dealership Minds Summit — Roadmap to Mastering Equipment Remarketing.