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.  

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