Hi,
I just opened a used car dealership and I've found that I still buy cars that I like rather than the ones that have the most potential for making a profit. I've determined what I need to look at to find the "money-makers", but I have no idea how to put it into a formula that I can use in an Excel spreadsheet.
My example is a 2002 Windstar Mini-Van with 95K Miles and a Condition Score of 35. I'd like the Year, Mileage & Condition scores that I've assigned to have equal weight in a possible Overall score of 100.
33.3% Current Year minus Year of Car (zero being the highest)=11
33.3% Actual Mileage (zero being the highest)=95
33.4% Condition Mechanical 10, interior 10, exterior 10, tires 10 (40 being the highest)=35
I'd appreciate any help you can give me. I've been trying to figure this out for a couple of days and I just don't know how to do it. Please let me know if you need more information or if my example doesn't make sense, or for that matter if my idea is just plain dumb.
Thanks in advance,
Teresa
I just opened a used car dealership and I've found that I still buy cars that I like rather than the ones that have the most potential for making a profit. I've determined what I need to look at to find the "money-makers", but I have no idea how to put it into a formula that I can use in an Excel spreadsheet.
My example is a 2002 Windstar Mini-Van with 95K Miles and a Condition Score of 35. I'd like the Year, Mileage & Condition scores that I've assigned to have equal weight in a possible Overall score of 100.
33.3% Current Year minus Year of Car (zero being the highest)=11
33.3% Actual Mileage (zero being the highest)=95
33.4% Condition Mechanical 10, interior 10, exterior 10, tires 10 (40 being the highest)=35
I'd appreciate any help you can give me. I've been trying to figure this out for a couple of days and I just don't know how to do it. Please let me know if you need more information or if my example doesn't make sense, or for that matter if my idea is just plain dumb.
Thanks in advance,
Teresa