We found that dealers and customers really benefited from the ability to have equity calculations within the online process. To help even more users take advantage of this option, equity calculations can now be activated for dealers using the eAutoAppraise Trade-In tool. Customers using the tool will see it listed in the steps as “Find Equity.”
One thing to note is that when equity data is turned on, the customer will not see a value range for their vehicle. Instead, the tool will default to displaying the highest value of their vehicle. This is what will be used as the base when the customer inputs how much they still owe on the vehicle.
Market Value Book Option
Building on the already impressive lineup of vehicle valuation books, we have added Market Value as the latest option. When a dealer selects this book, the eAutoAppraise Trade-In Tool and/or SARA will pull vehicle listed for sale within a given mile radius. As with the rest of the tool, dealers have the ability to customize the default settings to match a specific mile radius, vehicle match criteria, and more.
Example: Customer has a 2015 Honda Civic with 120,000 miles. With Market Value selection, the tool will show a vehicle valuation range based on all of the 2015 Honda Civic models currently for sale within x miles of dealership that also have roughly 110,000-130,000 miles.
Since Market Data is getting details about the sticker price of matching pre-owned vehicles, our tool automatically reduces the value range by a default of 10%. This helps to ensure that the customer is getting a realistic value estimate that they can bring to a dealership and help plan their trade-in process. Of course, the dealer can always decide to adjust this discount percentage based on their needs.
Learn more about all the unique features that our Trade-In Tool and award-winning digital retailing tool SARA have to offer! Our DEP team would love to tell more, so contact us to schedule a demo today.