Appraisal

Derrick Woolfson

It is nothing new for a customer to ask "what my trade is worth" before hitting the dealership. However lately it seems (for us anyway) that the "trade value" is the biggest objection the customer has before committing to coming in. That said, we have had great success in using KBB Trade Value tool, and tell the customer based on the information they have entered the approximate value subject to verification is "XYZ." 

Most customers feel relieved, and even when they get to the store, and somehow forgot to mention the dents, scratches, bald tires, and damaged interior are understanding when the actual trade value is less. As we do a complete walk-around w/ the customer explaining why it is less due to the "items" we find during the inspection.

How do you handle that objection over the phone besides saying "well, you just have to come in." 

 

Scott Larrabee

Basically the same way you described.. I try to explain the importance of seeing the vehicle but since they called for information about what their vehicle is worth I at least try to give them something so they know I am willing to help and get them what they need. In the end I think you just have to come across as willing to help and assure them they will do best by coming in to see you!

Derrick Woolfson

I agree with you Scott! That is also why we use KBB In our value statements to build value/trust in what we're offering. There are companies popping up though that apparently go to the customer's house and appraise their vehicles! 

Brandin Wilkinson

 

I agree as well.  I'd like to add a couple of practices that we use.  We've found that the clients are willing to send a couple exterior pictures and one interior picture for us.  This gives us the opportunity to collect their email address or cell number.  And the other practice is we simply ask the clients if they would be willing to purchase something sight unseen, especially a vehicle.  They won't buy their new or pre-owned vehicle sight unseen, so why should we buy theirs sight unseen?  We provide a rough estimate if needed but we rarely run into that now because of the aforementioned practices.  You don't get what you don't ask for!

Tori Zinger

I like both of those practices, Brandin. The first one is a great opportunity to collect their contact information, and it really can at least give you a better idea of the condition of their vehicle. But the second idea you gave is powerful, and I think when you put it that way, customers will be much more accepting and willing to bring the trade it prior to getting an appraisal.

Derrick Woolfson

@Brandin - I love the photo sending idea. In fact, we tested it this morning. I used the subject line "Experts Say that Including Photos Helps With Appraisal." The customer not only opened the email but sent photos of their appraisal. This was a customer who wouldn't respond (well hasn't responded in the last week), but did today. They should be here tonight. I am definitely going to try and have customers send photos. 

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