So you’ve decided to offer Instant trade-in values on your website… congratulations! It’s a fantastic way to bring leads, start conversations and give the customer some research help along their buying journey.
But fair warning — customers don’t just want any old trade-in value.
It is of the utmost importance to provide “Market Relevant Pricing” to the consumer. A value that the dealership can transact on when the lead is produced. Out of touch prices — too high or too low — can collapse a sale just after a customer begins initiating interest.
Here are the top 3 items to look for when choosing a vendor to provide market relevant values to your customers:
- LOCAL MARKET PRICING – Are the values you are showing consumers relevant for your region? If you are showing a “National Value” does it make any sense to even provide that #? Vehicle values are not the same across Canada. Make sure they are adjusted for your province.
- CUSTOMIZEABLE RANGES – Can you customize the ranges based on dealership campaigns that are happening? Can your “Value your Trade-in” web widget match the current philosophy of the dealership? Being able to get aggressive, maintain or back off values given for trade-ins leads when warranted is an important feature to have.
- PRICING SUPPORT – How much experience does your vendor have with providing trade-in values? Do they even care about (or have a say) in the numbers that are being given out? Are the values market relevant? Can you talk to an analyst about pricing at any time?
Check out how we help dealers answer those questions and increase trade-in leads with this case study or contact me anytime for tips about how to optimize your trade-in process.