Selling inventory

[aaron788]

Hi all,

We were a multi franchise dealership until a few months back, new ownership sold off our GM franchise.. The purchasing dealer did not buy out our parts inventory. What are some suggestions for selling this excess inventory? Have any of you been through this before? Looking for any suggestions or guidance.

Thank you

[Denise Trimble]

Termination return, then check with some of the mega online dealers who may purchase the rest for pennies on the dollar!

[Parts007]

Offer your GM chemicals to local GM Dealers at a discounted rate. This will eliminate shipping for potentially hazmat stuff.

[aaron788]

Termination return, then check with some of the mega online dealers who may purchase the rest for pennies on the dollar!

The termination return is already done.. You can only return what GM says they'll take after they evaluate your inventory, it wasn't much. I have seen a few companies online that do buy-outs, I was posting to see if any of you have used a company to do this before.

[partsguy99]

Termination return, then check with some of the mega online dealers who may purchase the rest for pennies on the dollar!

The termination return is already done.. You can only return what GM says they'll take after they evaluate your inventory, it wasn't much. I have seen a few companies online that do buy-outs, I was posting to see if any of you have used a company to do this before.

Wasn't always like that. Back when The General pretended to be partners with their Dealers, you could return EVERTHING e.g. open boxes and packages, multiples broken into, even parts that had a wire tag part number attached to them. And you got credit on all of it.

[bsnyder723]

Try putting it on eBay, $0.60 on the dollar is better than nothing at this point. Most of the big dealers that buy old inventory are only going to give you $0.50/dollar at the most.

[FixedManager]

There are many avenues available to rid yourself of the inventory, but before you do anything did you verify that the product is even still a part of the stores inventory? I would ask to look at the Parts inventory section of the sale agreement to see if the value was accounted for in some fashion, even as a percentage of the whole. Your office manager could also be a source for this information as the general ledger values must be updated to match.

If you are satisfied that the parts value is still on the books, and the documents state it should be, then a discussion with the owner and accountant as to the disposition of the product needs to occur. There will be some loss involved and it needs to be decided how to compensate for it: department profit, shipping costs, catalog fees, handling (package and packing), salaries, listing fees, etc.

If the ideas run out send me a PM with your email address. I have someone who does a great job with selling unwanted inventory and I would be happy to look over your list for presentation to him.....Good luck.

[FixedManager]

Wasn't always like that. Back when The General pretended to be partners with their Dealers, you could return EVERTHING e.g. open boxes and packages, multiples broken into, even parts that had a wire tag part number attached to them. And you got credit on all of it.

Spoken like a true G.O.P.G.. Which manufacture do you know that will allow you to return everything for full value? Even when General Motors allowed you to box and return everything you only received a partial credit after everything was scrutinized.

[partsguy99]

Wasn't always like that. Back when The General pretended to be partners with their Dealers, you could return EVERTHING e.g. open boxes and packages, multiples broken into, even parts that had a wire tag part number attached to them. And you got credit on all of it.

Spoken like a true G.O.P.G.. Which manufacture do you know that will allow you to return everything for full value? Even when General Motors allowed you to box and return everything you only received a partial credit after everything was scrutinized.

My sincere apology, due to my advanced age I had forgotten that it was only a PARTIAL CREDIT for open packages etc, rather than NO
CREDIT at all! Also due to said advanced age, wanna clue me in on what G.O.P.G. means? I'm not too hip on this millennial lingo.