The glossary
The words dealers use, defined.
Plain-English definitions of the terms that run an independent used-car lot, from inventory aging to floor plan. Short, precise, and written for the way dealers actually talk.
- Inventory aging
- Inventory aging is how long a vehicle has sat unsold on a dealer's lot, usually measured in days since it was acquired or first listed. Read more
- Days on lot
- Days on lot (DOL) is the number of days a specific vehicle has been in a dealer's inventory, from acquisition to sale. Read more
- Aged unit
- An aged unit is a vehicle that has been in inventory longer than a dealer's target, often 60 days or more, and needs attention to sell. Read more
- Marketing opportunity
- A marketing opportunity is a specific, timely reason to promote a particular vehicle now, such as an aging unit, a recent price drop, or a seasonal fit. Read more
- By-dealer category
- The by-dealer category is the Craigslist section where licensed dealers must post vehicle inventory, separate from the by-owner listings meant for private sellers. Read more
- Inventory syndication
- Inventory syndication is distributing a dealer's vehicle listings from one source out to multiple marketplaces and sites automatically. Read more
- Vehicle merchandising
- Vehicle merchandising is how a used car is presented to buyers: its photos, description, and pricing presentation across every listing. Read more
- Vehicle detail page
- A vehicle detail page (VDP) is the page dedicated to a single car, showing its photos, specs, price, and description for a buyer to review. Read more
- Floor plan
- A floor plan is a revolving line of credit dealers use to finance their inventory, paying interest or fees for each vehicle for as long as it stays unsold. Read more
- Inventory turn
- Inventory turn is how many times a dealer sells through and replaces its entire inventory over a period, a core measure of how healthy sales velocity is. Read more
- Lead
- A lead is a potential buyer who has shown interest in a vehicle, usually by calling, messaging, or submitting a form from a listing. Read more
- Reconditioning
- Reconditioning (recon) is the work of preparing an acquired used car for sale, from mechanical repairs and detailing to the photos that ready it for market. Read more
See it on your lot
Turn inventory terms into cars sold.
Lotsmith watches the inventory these terms describe, finds what is worth promoting, and builds the marketing for you. Bring a few real vehicles and see it work.