Auto dealerships are a competitive market with local dealerships working hard to stay ahead of large, national changes that are changing the car buying and selling industry like CarMax or the online CarVana. How can dealerships work smarter, not harder in 2020 to stay ahead of new market competition and bring customers through their dealership doors?
Blackbook Value Appends are an ideal way to take your current and past client database and make it increase highly in value. This type of data append arms your sales team with important data that allows for increased sales and increased profitability of these sales.
Blackbook collects reporting data from 95% of the wholesale auto auctions held in the US as well as data that is collected from the 65 different auctions that company representatives physically attend. This data is then used to help Blackbook (and in turn auto dealerships/sales people) further understand resale value changes across auto types, makes and models.
The actual append process will take your current database and then append a dollar amount to all automobiles in the database. The value that is added is an approximation of what the vehicle could be sold for in the used automobile marketplace. This information better allows your sales team to understand the cost relationships between trade-in, resale and new automobile values.
Blackbook value append data proves to be valuable since if a sales person quotes a trade too high, the can risk the profitability off the new car sale, yet if they quote too low, they may risk the actual sale itself. It’s a fine line and frankly one that many salespeople are not well trained or qualified in. Providing your sales team with this type of data allows them to “save the sale” and make it profitable in many situations.
Using Blackbook value append data, dealerships can select low, average or high values and get several prices for the VIN that was provided for the append. A value will be provided for three different condition types; rough, average and clean. Additionally, the four available retail conditions of rough, average, clean and extra clean will have values appended.
Applying a Blackbook value append can be lucrative for many dealerships, allowing you to better leverage your current database as well as providing your sales team with key, pertinent information that will help them easily close profitable sales.