Frank Knox: How to Transform Your Dealership with Process-Driven Acquisition

The David Spisak Show

In today’s rapidly evolving automotive industry, one thing is clear—used car acquisition is no longer just a piece of the puzzle; it is the puzzle. In this episode, I sit down with Frank Knox, Vice President of Unique Auto Sourcing, to explore the vital role of acquisition in the future of dealerships. Frank draws from his 23 years of experience, including 18 years with CarMax, to share invaluable insights on how dealerships can pivot their strategies to compete with industry giants like CarMax, Carvana, and AutoNation.
For years, dealers have been stuck in the same old loop when it comes to used car acquisition, and it’s no secret that it’s the one thing that can make or break your business. But what if I told you that the way you’ve been going about it is actually holding you back? Frank, who spent nearly two decades at CarMax (yes, the same CarMax that went from $42 million in revenue in 2014 to $12 billion today), is dropping some serious knowledge on what needs to change if you want to stay in the game.

We dive into everything from why appraising every single car is non-negotiable, to how CarMax and Carvana mastered acquisition in ways that many dealers are still refusing to adopt. Trust me, this is one of those conversations that could completely shift your thinking—and your results.

Frank’s message is clear: If you're not focused on procuring the right cars, your dealership is already falling behind. From appraising every car that enters your lot to leveraging data-driven tools like AccuTrade, this conversation dives deep into actionable strategies that any dealership can adopt.

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