Dealer Institute Used Equipment Self-Assessment
Dealer Institute Used Equipment Assessment Quiz
This quiz is designed to help dealerships evaluate their used equipment management practices and identify areas for improvement. By answering a series of 20 questions, you can gain insights on how effectively your team is handling inventory turnover, sales strategies, and customer engagement.
- Understand your team's performance
- Identify strong and weak points in your sales process
- Enhance communication and appraisal strategies
I know my new and used equipment turnover rate every month
True
False
100% of my sales team knows the importance of turning iron.
True
False
Do all your salesmen initiate creative ideas on how to get a deal done
Yes, 100% of the sales staff initiate creative ideas because they have been trained to do so
I am not sure
The high performers initiate creative ideas
All our trades are made aware of to all stores and salespeople as soon as they come on trade.
Yes, we have a very defined process for notifying staff (across all stores) about new trades
No
We're working on better communication regarding knowledge of what we have on the lot
Are all your sales people providing detailed appraisals for potential trades?
Yes, my entire sales staff provides very detailed appraisals for potential trades
Yes, the high performing sales people provide detailed appraisals of potential trades.
I'm not sure how detailed their appraisals are.
Are you using multiple data sources when evaluating a trade?
Yes, more than 3 sources
No
Yes, 2-3 sourcs
How often are you reviewing the value/pricing of an existing trade?
Once, when we first receive the piece.
More than once if it has been on the lot for some time
I regularly review the value of all trades on the lot
Do you have a good understanding of how much used or new iron your market can absorb?
Yes, I have an extremely good undrestanding
No
I have a fairly good understanding
Are you limiting new sales based on knowledge of how much used your sales team can sell?
Yes
No
We are ALWAYS watching markets, forecasting and discussing what is hot and what is not
True
False
Are you aware of how many leads are new customers, repeats and referrals?
Yes
No
Do you CONSISTENTLY track the salesmen’s daily activities?
Yes
No
Do you share and explain the wholegoods department monthly financial results with your sales team?
Yes, every month
Only when it's really bad or really good
No
Are you setting targets and keeping score in key wholegoods metrics?
Yes
No
What percentage of your time is focusing on new and used inventory?
0-10%
11-30%
31-50%
51-70%
71-90%
91-100%
Is your compensation plan driving the behaviors needed to grow the department?
Yes
No
I'm not sure
Does each sales person have a list of their top 25 customers? Do all departments know the top customer list?
Yes, all sales people and staff know the top 25 customers and could list them out from memory
I'm not sure
Only the high performing sales people and staff could list our top 25 customers from memory
Regarding managing sales people, do you sometimes feel the tail is wagging the dog?
Yes
No
What?
Is the lot properly displayed and inviting to a brand new customer?
I think it is, but I have not asked for my customers' opinions
What does that have to do with my wholegood sales?
Yes, the staff and I know the importance of our appearance on all levels
Before taking a trade, do you discuss/decide how you are going to take the trade to market?
Always
Never
Sometimes
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