At Andy Mohr Avon Nissan, the service lane leads directly to the sales floor.
To help drive new- and used-vehicle sales, the suburban Indianapolis dealership has turned to equity mining its service department customers — determining which of them has positive equity in their car or truck that might make them candidates for a new purchase.
Every vehicle that arrives at the service drive in Avon, Ind., has its license plate scanned to retrieve the VIN. Within minutes, software identifies trade-in prospects by analyzing factors such as amount of equity in the vehicle, its residual value and available factory incentives. Following a physical inspection of the vehicle and an assessment of service work needed, the customer then receives an offer to trade in their vehicle for a new or certified pre-owned one.
The process drives more than 15 percent of Andy Mohr Nissan's monthly sales, or about 50 of the 300 vehicles the store sells every month on average, said General Manager Tim Dement.
"Every vehicle that comes into the service center is a potential trade-in candidate," Dement said. "These customers are easier to sell to because they've done business with you; they are servicing with you. So it makes for an easy transition and easy conversation."