For example, dealers are often contacting their customer base and asking whether they're ready to trade. Current customers are definitely a good source to tap, but have you considered the people you didn't sell a vehicle to?
If your closing ratio is 20 percent, there are four prospects for every one you sold, and many of them came to the table with a possible trade-in.
Deese suggests that dealers draft a list of unsold prospects over the previous three months to see whether they are interested in trading. If they're prospective new-vehicle buyers, typically 70 percent of their trade-ins are good enough to retail, he says.
Trolling for used-vehicle inventory? Contact the ones who got away. Chances are you'll catch something.