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Used Equipment University Series

[Video] Increasing Your Used Turns: Levers to Pull

By Ben Thorpe posted on March 4, 2024 | Posted in Best Practices
In this episode of Farm Equipment’s Used Equipment University video series, Kyle Jimenez, used equipment manager at John Deere dealer Castongia Tractor, talks about what he does to increase used equipment turns. He covers repricing strategies, staying on top of trade-in valuations, when wholesale comes into the picture, and more. The Used Equipment University series is brought to you by Tractor Zoom
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What Should Influence Your Used Valuations?

By Ben Thorpe posted on October 9, 2020 | Posted in Used Equipment Remarketing
As part of his recent presentation at the 2020 Virtual Dealership Minds Summit, Trent Hummel, consultant and trainer with the Western Equipment Dealers Assn.’s (WEDA) Dealer Institute, showcased a series of studies conducted with Farm Equipment in which surveyed dealers were asked what influences their valuations of used equipment.
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Optimizing Your Used Combine Business Through Data-Tracking

Trent Hummel breaks down how dealers can use hard data to get a handle on their used markets and make smart decisions with their used combine inventories.
By Ben Thorpe posted on October 9, 2020 | Posted in Used Equipment Remarketing
Interest in used equipment is on the rise, but not particularly in used combines. According to results from Ag Equipment Intelligence’s August 2020 Dealer Sentiments report, a net 6% of dealers reported their used inventory “too low” in July, the first time it’s been “too low” since June 2012.
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Eis Implement Makes Strides as Single-Store Operation

Empowering employees to make the decision on margin vs. increased unit sales on a case-by-case basis has helped the dealership improve its absorption rate.
By Kim Schmidt posted on March 27, 2020 | Posted in Used Equipment Remarketing, Operations & Finance, Department Management
The single-store John Deere dealership can be hard to find these days, but in Two Rivers, Wis., Eis Implement is a thriving business that has found ways to make its smaller footprint work in its favor.
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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.
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Ask the Expert

Where Does Inventory Management Start?

The following blog by industry expert Casey Seymour is part of the Ask the Expert: Remarketing Used Equipment series, sponsored by Iron Solutions.
By Casey Seymour posted on August 23, 2017 | Posted in Used Equipment Remarketing
Inventory management has become extremely important for larger dealer groups with tens of millions of dollars in inventory and millions of dollars at risk. But even for smaller dealerships where the dollars at stake are smaller, inventory management is still vital.
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