As dealers look for used-vehicle inventory, one thing continues to be clear: There are cars and trucks to be had. You just need to know where to look.
Some dealers do. The ones who don't should pay attention to what Troy Duhon, owner of Premier Automotive in New Orleans, told us when we asked him what his strategies are for securing used inventory at a time of abnormally high wholesale prices and supposedly slim pickings for used cars and trucks to sell.
Duhon turned some of his salespeople into street buyers — alongside his typical buyers — and paid them spiffs for landing good product. He said the salespeople have even turned to social media to tell their friends and family that if they want to unload their vehicles, now is as good a time as any to do so — at least for the money they'll get for the vehicle.
It's been estimated that, of the 40 million used vehicles sold annually in the U.S., about two-thirds are sold through private parties or independent car lots. Franchised dealers account for the other third.
Thanks to the Internet, digital nets can be cast hundreds or even thousands of miles wide in the hunt for used inventory. The problem this does not solve — especially for smaller regional dealers — is logistics.
But there are plenty of used cars and trucks for sale on social media, and some could even be found by word-of-mouth.
When you look beyond traditional methods, you can still find new ponds to fish, even in your own backyard.