Online trade evaluations

Bart Wilson

Just curious, how many of you have online trade tools on your sites?  How do you handle them?

Mark Rask

We have a kbb trade in tool .....we use it as a 3rd party evaluation source 

Derrick Woolfson

We used KBB, however, we found that many of the customers did not complete the forms, and were missing a lot of information. So when they came in (or called in) we always said "this is a best guess estimate based on the information you have entered. We go off of the KBB values, and upon your arrival, our appraisal manager will verify your report." Most of the time, the customers missed trim levels, door dents, stains, rust, bald tires, etc. All of which can easily add up and/or hurt the value. To be honest, this is the one 'link' that can hurt online retailing - such as companies like Carvana - where they are accepting a trade-in based on the "online form." One of the lines we used to use to a customer that wanted us to agree to a trade-in value over the phone was "would you buy a house without first looking at it?" to which many agreed, but then, of course, some said they would, ha.  

Martins Ville

congratulations Mr customer it appears that the vehicle you are trying to trade in is one that we have several current customers looking for. If you're willing to donate 10 minutes of your time this week, stop on it and we can show you a 10% bonus, compared to what most dealers would be willing to tell you your vehicle is worth. We pay more for vehicles that we get to see in person. Please contact Mr used car Manager at 555-1212.

Tim Scoutelas

As an industry we need to do a better job of separating an online trade in “estimator” and online trade-in “evaluation” tool. One is quick and easy and gives an “estimation” and the other is more involved and a little more work, however gives an actual “evaluation”. 

Bart Wilson

I agree, Tim.  The online to offline trade transition can be really clunky.  Dealerships need to do a better job of streamlining the process.

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