Autotrader's Trade In Marketplace
Have you had success with Autotrader’s Trade In Market Place? Has it helped your dealership to make more car deals?
- Are you using it on your website?
- Is it part of your in store sales process?
One concern I have is that it seems to produce lower trade in values and how that may impact customer’s perception if they’re on your website. You may not ever get the chance to talk to the customer if they are turned off by a lower offer.
Replies to This Discussion
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Permalink Reply by Doug Davis on
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One concern I have is that it seems to produce lower trade in values
Chris, that is the reason why you want it.
Like everything else, it requires some salesmanship. It has to be part of the process. The scenario is, "I want to make sure that you get the full value for your trade-in". "Let's keep the Used Car Manager honest and get another buy bid on your car".
Hopefully, that salesperson has already done a silent walk-around with the customer. The customer knows this is a buy bid. The customer must be taught that book values mean little and that market value is determined by the internet. AutoTrader is an expert in this realm. As a third party with great name recognition, it only brings credibility to the process.
In the internet age, we make our money buy undervaluation of the trade, switching to a lease and setting up F&I. It is a great tool when you use it and have trained salespeople.
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Permalink Reply by Chris Irwin on
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Yes, that is obvious. I'm referencing those that you never get a chance to talk to---simply filling out the trade evaluation on your website, not liking the lowball number, and moving on.
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Permalink Reply by Big Tom LaPointe on -
Chris - if you are still looking, I have seen it work. Actually WORKED IT for a dealership for a while. You have to have a horse working the leads, though. We had it on the website and it generated a fair amount of leads, though they were MUCH LOWER probability than someone scheduling a test drive. Didn't work on the showroom floor like the AT rep recommended because when most people saw the offer, they thought the website was on crack.
As a GM or Marketing Manager, I don't think i'd pay for the service, also for the reasons you mention. THeir number is WAY LOWER than kbb - even though AT owns both services. Plus, my used car manager said the cars he actually sent to the auction got nickled and dimed way down on condition, so you seem to take your chances with at actually having your back on the number.
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