NPA offering $3 million in advanced payments
August 23, 2013
Filed under Features
National Powersport Auctions (NPA) has launched its the new NPA Advanced Value Payment (AVP) program. In honor of the program’s recent launch, NPA is offering $3 million (per dealer limits apply) through the end of August to NPA dealers who consign more than $20,000 in inventory. During this time, NPA is waiving the fee normally associated with the AVP program.
The AVP program is designed for dealers consigning their used inventory with NPA to receive timely capital to purchase additional powersports so they can increase their inventory turn and profit. With NPA’s AVP program, dealers will be able to receive up to 75 percent of the vehicle’s value within days of the vehicle arriving at one of NPA’s four locations.
When the vehicle sells at the NPA Auction, the dealer receives the remainder of the proceeds from the sale. All types of powersports are eligible for NPA’s AVP program, including but not limited to: motorcycles, ATVs, side-by-sides, PWC, boats, and RVs.
“As dealers increase their off-the-street purchases and further embrace the advantages of taking trade-ins, access to capital becomes critically important,” said John Roshala, NPA’s executive vice president of sales and marketing. “NPA recognized the assistance we could provide to our dealers by giving them the capital to invest back into their dealership. At NPA, we call it Pre-owned Velocity and we designed the program to do just that.”
When NPA initially rolled out the program as a soft launch to a few of their strong consignors, they ended up wiring over $500,000 to a handful of dealerships.
“By having the easy access to capital through the NPA AVP program, we have quickly increased our inventory turn and profit. The NPA AVP program is a very effective tool that helps us grow our dealership,” said Mark Huff of Powerfun in Tavares, Fla.
“We are pleased with the results we are seeing thus far, and are excited to be offering this unique program to all our dealers,” Roshala added. “Nationally, sales of pre-owned powersports outpace sales of new powersports, yet only 25 percent of used product currently sells through a dealership. There is a tremendous opportunity for dealers in pre-owned and with NPA’s AVP program, they can have the access to capital to take advantage of that opportunity.”