Another reason dealers may choose cash over credit is because of the minimal desire to change long-standing business practices. You may think to yourself, “this is the way we’ve always done things”. And while that may be true, it doesn’t necessarily mean that it’s the best way to do things.
The world is becoming less and less dependent on cash, as digital payment methods emerge offering more flexibility. While the market continues to change, you may not be able to keep your inventory up to date just by using cash. Consider ways you can balance your cash usage with credit usage. Would It be better for the future of your business to have a backup plan or an alternative way of purchasing inventory?
As our economy experiences downfalls and setbacks, some dealers have convinced themselves that it is better to simply survive, as opposed to thriving and focusing on growth. Having access to credit means access to more inventory. Kinetic also goes a step further to offer additional resources to help you succeed. How can your dealership thrive as opposed to just surviving?