You’ve Got Questions. We’ve Got Answers.

Changing the way you’ve always done business raises a lot of tough questions. We asked ourselves plenty of them while creating ProfitTime. Now we’re ready to answer yours.

  • What is Provision ProfitTime?

    Answer: Provision ProfitTime is an upgrade to Provision® that offers a new way of predicting how a vehicle will perform for your inventory from Day One. Velocity-minded dealers have traditionally used Days in Inventory, or the calendar, to judge a vehicle’s potential — fresher is always better, and prices get more aggressive the older any vehicle gets. Provision ProfitTime identifies vehicles that are likely to become distressed in the future, and it allows you to take corrective action sooner.
  • How can ProfitTime help me appraise better?

    Answer: By understanding at the time of appraisal how well a potential vehicle will work for your market and inventory, you can more accurately determine how much money should go into it. Obviously, the fewer dollars you spend, the higher a vehicle’s investment value is. But where is the line between a just-right spend and too much? ProfitTime helps answer this critical question.
  • How can ProfitTime help me price better?

    Answer: Knowing whether you’ve got a good investment or a bad one, from a vehicle’s first day in inventory, allows you to align your initial and subsequent pricing decisions to that vehicle’s investment potential. You can hold gross on a good car when it’s appropriate, and price worse-performing vehicles to move more quickly.
  • What does Provision ProfitTime consider a good car or a bad car?

    Answer: Provision ProfitTime assesses several metrics, like the vehicle’s history, how right you own it, and how well the same/similar vehicles are selling in the market. If a car has a good ProfitTime rating (Gold or Platinum), it’s likely that the car is in high demand, it has a favorable vehicle history, and you own it right. Provision ProfitTime assigns other vehicles lower ratings (Silver or Bronze) when one or more of these same metrics negatively affect a vehicle’s investment value.
  • Where can I expect to see ProfitTime inside Provision?

    Answer: You will see ProfitTime in areas where it fits your workflow — the appraisal page, gauge page, dashboard, Look to Book page and more!
  • What’s the difference between ProfitTime and Market Days Supply?

    Answer: Market Days Supply (MDS) does a great job of informing you on how well a vehicle is selling in its market. But when it comes to determining whether a vehicle is a good investment, MDS simply isn’t enough. This is where Provision ProfitTime comes in. It uses MDS in conjunction with Cost to Market and a vehicle’s history to complete the picture. With these insights wrapped together, you can appraise and price a vehicle more confidently (and correctly) than ever.
  • Is age-based pricing irrelevant now?

    Answer: The real question is: Was age-based pricing ever relevant? The answer is “yes,” up until margin compression led us to find a better way with ProfitTime. Our ProfitTime research shows that the practice of dropping vehicle prices based on Days in Inventory results in unnecessary loss of gross for some vehicles, and a significant number of distressed, or old-age, units. ProfitTime reveals that all cars aren’t created equal, and we shouldn’t treat them that way. ProfitTime helps you appraise and price to each unit’s investment potential. Time in inventory is still important. Platinum vehicles don’t stay Platinum forever. But ProfitTime helps you recognize the time it takes to make money.
  • What does the new ProfitTime methodology mean for the Velocity Method of Management®, and what’s the difference between the two?

    Answer: In the near term, we expect some dealers to adopt the ProfitTime methodology while others continue to follow Velocity® principles. The most fundamental difference between ProfitTime and Velocity® is the former’s measurement of investment value as a primary driver for inventory management decisions. With this investment value insight, dealers can make appraising and pricing decisions that better balance gross profit and inventory turn objectives. ProfitTime scores help dealers easily know which vehicles merit a longer (or shorter) retail shelf life than others, based on their investment value. It’s also worth underscoring that, just like with Velocity®, time in inventory still matters with ProfitTime. But dealers who use ProfitTime can more readily tell how much time matters for each vehicle due to its investment value.

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