Now consider, with automation, you instantly tap into updated master book information for your area. You also have immediate access to past transactions on this vehicle, with exact trade and profit analysis for dealerships in your group. You compare sales history across your network, and determine if the vehicle would trade better at a sister location. You know, for your dealership, how many have sold retail, the wholesale quantity sold and the average of the following: retail turn, cost of sale, retail profit, retail price and mileage. You also know the same information for your entire dealership group. Additionally, you’re aware if the vehicle was “bumped” at subsequent dealerships in your network, as some vehicles are justifiably valued higher at different lots based on available sales history.
With one click, you know how that particular make and model is priced on other Web sites within a designated radius of your dealership. All this information helps you appraise the vehicle at the most accurate and beneficial price. You can also print out a report that reflects how many similar make/model vehicles you’ve appraised in the past, but did not trade for. After a quick review of a Like History Performance Report, you realize that this vehicle traditionally hasn’t performed well at your dealership.
So, based on the above information, what decision do you make? You launch the vehicle, at time of appraisal, to your sister stores knowing that the vehicle has performed well there. Your associated dealership reviews pictures of the vehicle, book values and detailed sales performance at their lot, and decides they want the vehicle for more than you were willing to offer the customer. This enhanced process helps your customers get more money for their vehicles and helps you make better deals. Plus, your sister dealership gets a “core” vehicle for considerably less than it is currently running for at auction. In the end, you print out a professional appraisal form that details the information for the consumer. This important data is also available, now and in the future, to your sister stores as well.
Automation ultimately translates into “competitive armor” or market place data that provides for a much easier and professional appraisal process, giving you a strong advantage. The question is, “Are you ready to make the change?”
Vol 2, Issue 11