Used Vehicle Department Inventory Records

Internal Controls

Administrative Controls

It is essential that a record be maintained by the Used Vehicle Department to accurately reflect the used vehicles available for sale.  This record should contain a description of the vehicle as well as current cost, the date the used vehicle was received and selling price information.  Card files, loose ring books, computer printouts or wall displays can be used for this purpose. 

When a trade-in is received on a new unit sale, the new vehicle stock number with the letter “A” following the number should identify the trade.  The letters “B”, “C”, “D”, and so on, should be used for subsequent trades on used vehicle sales.  Purchased vehicles should be assigned stock numbers prefixed with the letter “P”.  Repossessed vehicles should be assigned stock numbers prefixed with the letter “R”.  Used vehicles purchased at the GM Auction or directly from the factory should be assigned stock numbers prefixed with the letters “PGM”.